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Yansab earnings drop 8% in Q3 2020

October 26/2020

MOSCOW (MRC) -- The net profits of Yanbu National Petrochemical Company (Yansab, Sabic's affiliate) fell by 7.8% year-on-year (YoY) over the third quarter (Q3) of 2020 to reach SAR 195.6 million, as per Chemweek.

The drop in net earnings during Q3 was ascribed to lower average sales prices for most products and higher productions inputs average cost despite the growth in production and sales quantity, according to a bourse statement on Sunday.

Revenue for the three-month period ended on 30 September 2020 hit SAR 1.44 billion, a yearly rise of 1.3% when compared to SAR 1.42 billion in the same period in 2019.

In the first nine months of the year, the Saudi firms profits stood at SAR 344.9 million, posting a YoY decline of 62.5%.

As MRC reported earlier, Yansab shut its high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) units for maintenance in early February, 2018. The planned outage was to remain in force for around 6-7 weeks. Located in Yanbu, Saudi Arabia the HDPE and LLDPE units have a production capacity of 400,000 mt/year each.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,496,500 tonnes in the first eight months of 2020, up by 5% year on year. Shipments of all ethylene polymers increased, except for LLDPE.

Yansab is the most recent SABIC, (Saudi Basic Industries Corp), affiliate in Saudi Arabia, and will be the largest Sabic petrochemical complex. It will have an annual capacity exceeding 4 million metric tons (MT) of petrochemical products including: 1.3 million MT (metric-tons) of ethylene; 400,000 MT of propylene; 900,000 MT of polyethylene; 400,000 MT of polypropylene; 700,000 MT of ethylene glycol; 250,000 MT of benzene, xylene and toluene, and 100,000 MT of butene-1 and butene-2.
Author:Margaret Volkova
Tags:PP, PE, LLDPE, propylene, HDPE, ethylene, petrochemistry, Sabic, Yansab, Russia, Saudi Arabia.
Category:General News
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