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Net cash generated from operating activities for 2019 was SAR 35,573 million, a decrease of SAR 9,198 million or 21%, compared to 2018. The decrease was mainly attributable to lower income before zakat and income tax by SAR 24,001 million in 2019.

Net cash used in investing activities for 2019 was SAR 13,690 million, a decrease of SAR 15,914 million or 54% compared to 2018. This is mainly attributable to the lower cash outflow in investments in associates and joint ventures by SAR 10,617 million and the cash inflow from sale and maturities of short-term investments by SAR 4,860 million, compared to a cash outflow by SAR 5,280 million in 2018. This was partially offset by higher spending on capital expenditure during 2019 by SAR 5,453 million.

Net cash used in financing activities for 2019 was SAR 26,287 million, a decrease of SAR 5,389 million or 17%, compared to 2018. The decrease was mainly due to lower net debt payments by SAR 6,421 million. In addition, a net consideration received from “JSMC” the partner in Ar-Razi, of SAR 1,125 million in relation to an additional 25% of shares in Ar-Razi and to renew JVA for 20 years. These were offset against the additional lease payments of SAR 1,534 million as a result of adoption of IFRS 16 – Leases.

Cash and cash equivalent at the end of the year 2019 was SAR 36,966 million, a decrease of SAR 4,457 million or 11%, compared to 2018, mainly due to lower cash generated from operations.

Free cash flow for 2019 was SAR 15,718 million, a decrease of SAR 14,817 million or 49%, compared to 2018.

Note:

  • Details of affiliates, joint ventures and associated companies in the financial statements, where appropriate, are listed in the Appendix.
  • Details of stocks and debt instruments issued by each affiliate are listed in the Appendix.
  • Financial numbers before 2016 are based on SOCPA.
  • USD/SAR Rate: 3.75.
  • Certain prior period figures have been re-classified to confirm with the presentation in the current period. 

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