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Sun 3 Jan 2016 04:55 PM

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Revealed: Saudi companies estimate earnings impact of 2016 budget

Fuel, electricity and natural gas feedstock prices were hiked up in the recent state budget

Revealed: Saudi companies estimate earnings impact of 2016 budget
Saudi money, Saudi currency, Saudi economy, Saudi finance, GCC currencies

Saudi Arabian companies have begun announcing estimates of the impact on their earnings of fuel, electricity and natural gas feedstock price hikes in the 2016 state budget.

COMPANY NAME & ANNUAL COST IMPACT:

Abdullah Abdul Mohsin Al Khodari and Sons: SAR22.1 millions ($5.88 million) in 2016, declining amount to 2020

Advanced Petrochemical: 1.5 percent

Al Jouf Agricultural Development Co: SAR26 million directly, SAR6 millio indirectly

Alujain Corp: SAR10-40 million

Electrical Industries Co: SAR3 million

Methanol Chemicals Co: SAR30 million

National Industrialization Co (Tasnee): SAR190 million

Qassim Agricultural Co: No significant impact

Rabigh Refining and Petrochemical Co: SAR300 million

Saudi Arabia Fertilizers Co (SAFCO): 8 percent

Saudi Arabian Amiantit Co: No significant impact

Saudi Arabian Mining Co (Ma'aden): Profit down SAR120 million in 2016

Saudi Basic Industries Corp (SABIC): 5 percent

Saudi Cement Co: SAR68 million

Saudi Electricity Co: Cost rise offset by higher electricity tariffs

Saudi Kayan: 8.5 percent

United Electronics Co (Extra): SAR4.4 million

Yamama Cement Co (YSCC): SAR60 million

Yanbu National Petrochemical Co (Yansab): 6.5 percent

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