Saudi Arabia Refineries Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

Sales/Revenue 16,825,460 20,983,726 (19.816)
Gross Profit (Loss) 16,825,460 20,983,726 (19.816)
Operational Profit (Loss) 14,035,802 17,845,326 (21.347)
Net Profit (Loss) after Zakat and Tax 13,380,263 17,170,699 (22.075)
Total Comprehensive Income 69,362,306 34,685,901 99.972
Total Share Holders Equity (after Deducting Minority Equity) 508,324,277 453,961,971 11.975
Profit (Loss) per Share 0.89 1.14
All figures are in Saudi Arabia, Riyals
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The decrease in net profit during the current year 2020 compared to the previous year 2019 is due to the decrease in dividends payable for the current year from the Saudi Industrial Investment Group Company (an investor company) amounting to 15,194,480 riyals compared to the previous year’s profits of 22,791,720 riyals.
Statement of the type of external auditor’s report Qualified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion We were unable to verify the amount of delay fines and fees that may result from the company not paying the bank guarantee for the associate amounting to SR 5.1 million as shown in note No. (10). Therefore, we were unable to determine the adjustments and material effects that may result from it on the financial statements of the company.
Reclassification of Comparison Items Some figures for the comparison year have been reclassified to conform with the classification of the current year figures without this having an effect on the net profit.
Additional Notes



The annual financial Statmenet for 2020 :