Saudi Kayan Petrochemical Company reported earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net loss of SAR 194.45 million compared to SAR 190.75 million for the same quarter last year with an increase of 1.9 % and compared to SAR 178.37 million for the previous quarter with an increase of 9 %. Operating loss was SAR 67.49 million compared to SAR 56.16 million for the same quarter last year with an increase of 20.2 %. The increase in losses in the fourth quarter 2012 compared to the same quarter last year is due to increase in cost of sales, increase in Selling, general & administrative expenses and financial expenses. Whereas. The increase in losses in the fourth quarter 2012 compared to the previous quarter is due to increase in cost of sale as a result of increase in feedstock cost. Increase in Selling, general and administrative expenses also contributed to losses.

For the full year net loss was SAR 772.27 million compared to SAR 250.25 million for the same period last year with an increase of 208.6 %. The per share loss was SAR 0.515 compared to SAR 0.167 for the same period last year. Operating loss was SAR 178.84 million compared to SAR 56.16 million for the same period last year with an increase of 218.4%.