‎Saudi Kayan’s Q1 2022 income margins hit by 11% tumble in promoting prices, increased feedstock charges: Chairman

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Saudi Kayan Petrochemical Co.’s headquarters


Saudi Kayan Petrochemical Co.’s Q1 2022 income margins, particularly of polycarbonates and glycol ethylene, were hit by an 11% decline in product moderate promoting prices, on the abet of subdued question and increased production in some global markets, Chairman Ahmed Al-Shaikh advised Argaam.

Sales volumes in Q1 2022 edged down 1% quarter-on-quarter, but jumped 18% one year-on-one year.

Al-Shaikh explained that feedstock mark is one amongst the ideal challenges to the firm, as it’s at present linked to energy prices, which weigh on Saudi Kayan. The firm’s production is per olefins and 80% of its merchandise depend upon butane, which hit fresh records in the last two quarters.

“Asserting income, aggrandizing shareholders’ equity and return on sources are Saudi Kayan’s top priorities,” he affirmed. The firm additionally seeks to receive excessive sales and market its increased-margin merchandise in global markets. Within the period in-between, Saudi Kayan goals to continue its optimum deployment of money, in the discount of charges, loans and other financial burdens.

“It’s in the intervening time sophisticated to foresee income this one year, on the abet of endured fluctuations in global markets, and volatility in product prices, which impact the firm’s performance and profitability,” Al-Shaikh concluded.