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Saudi Arabian Fertilizer Co. (SAFCO) announces its annual financial results ending on 31-12-2019


Gross Profit (Loss)1,694.032,131.25-20.514
Operational Profit (Loss)1,328.271,696.2-21.691
 Net Profit (Loss) after Zakat and Tax1,473.921,738.44-15.215
 Total Comprehensive Income1,340.241,878.76-28.663
 Total Share Holders Equity (after Deducting Minority Equity)7,996.297,906.051.141
 Profit (Loss) per Share3.544.17
All figures are in (Millions) Saudi Arabia, Riyals

Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed toThe reasons of the decrease in net profit for current year compared to last year:

• Decrease in quantities sold and average selling prices of the company's products.

On the other hand, the decreases been limited by:

• Zakat provision has been reduced for current year as the Company received revised Zakat assessments up to year 2017.

Basis of the External Auditor's OpinionUnmodified opinion
Reclassification of Comparison ItemsN/A
Additional InformationStarting from January, 1 st 2019, the company adopted and implemented IFRS (16) “Leases”

with no major impact on the company financial statements.