Aramco Total Services Arabia (SATORP) financial statements showed the shift in loss last year compared to 2018 earnings.
According to the results of the company for the Saudi market (Tadawul) today, last year’s losses amounted to 641.57 million riyals, compared to the profits in 2018 of 446.9 million riyals.
The company said in a statement to the Stock Exchange that the losses of the past year are due to the low margins of refining and petrochemicals resulting from market conditions in addition to unplanned maintenance work.
The company's sales decreased last year to 39.46 billion riyals, compared to 44.57 billion riyals in 2018, a decrease of 11.5%.
