(The Group’s Comment) Mesaieed Petrochemical Holding Company Net Profits Declines by 52% to QAR 493.43 Million in the 3rd Quarter 2019.

(The Group’s Comment) Mesaieed Petrochemical Holding Company Net Profits Declines by 52% to QAR 493.43 Million in the 3^rd Quarter 2019.

Ø Profits: Profits for the first 9 months 2019 declined to QAR 493.44 million compared to QAR 1027.8 million for the equivalent period last year, a drop of 52%, amounting QAR 534.4 million. Earnings per share amounted QAR 0.039 versus QAR 0.082.

Ø The 3^rd quarter profits amounted QAR 188.79 million compared to QAR 361.34 million for the same quarter 2018. The decline in the profits was attributed to the decrease in the petrochemicals prices and the decline in the volume of sales. During the period, the company formulated a fee provision of QAR 170.0 million.

Ø Revenues: The main source of profits during the period was its share from the results of associated joint ventures (Q Chem, Q Chem 2, Qatar Vinyl) representing joint investments with Qatar Petroleum and Chevron Phillips Company. The Company’s share from the revenues of these joint ventures declined by QAR 277.0 million to reach QAR 630.85 million, a 30.5% decline versus QAR 907.80 million for the equivalent period last year 2018.

Ø Concerning the petrochemicals sector, its profitability was declined by 32% amounted QAR 540.0 million versus QAR 799.0 million. Further, the profitability of the chlorine sector decline by 16.5% where the company registered QAR 91.0 million from this sector versus QAR 109 million for the same period last year. Such a decline is attributed to the decline in the volumes of sales by 14% and the sale price by 12%.