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00:00 The sales and returns of the wills are down,
00:04 which puts pressure on the results of the first quarter of 2024 for the Saudi-based company.
00:10 The most prominent of which are these data.
00:13 Initially, the pure results were reviewed on the basis of a quarter of 62%
00:19 at 250 million Riyals, compared to 660 million Riyals
00:25 achieved by the company in the previous quarter of the year.
00:30 But the expectations were at 440 million Riyals.
00:35 What about the company's wills?
00:37 We have returns of 10% at 32.7 billion Riyals,
00:45 which is 36.4 billion Riyals compared to the previous quarter of 2023.
00:53 But how did the sales and returns of the wills spread?
00:58 Initially, the number of products sold was 7%
01:03 in addition to the sales prices being 3%
01:08 especially the petrochemical prices in general,
01:11 which were in the local and international markets.
01:15 In the rest of the wills, we have a record number of losses
01:19 and other non-continuous operations.
01:23 What also put pressure on the results is the reduction in wills
01:27 from a number of partner companies.
01:30 But let's talk about the company's wills and how they spread according to sectors.
01:36 We have the petrochemical sector, as usual,
01:39 which accounts for the largest share at 93% of all wills,
01:44 while agricultural fertilizers account for 7% of all wills.
01:49 But how did the wills of each sector spread?
01:51 Petrochemicals accounted for 11% of all wills,
01:55 while agricultural fertilizers accounted for 7% of all wills.
02:01 But back to the expectations of this company,
02:06 the CEO of a former Saudi company said
02:09 that the gap between the increase in supply and the growth of demand
02:14 will be around 2024.
02:18 But in return, and in the rest of the wills,
02:21 we have the expected capital spending of the former company
02:25 between 4 and 5 billion dollars,
02:29 especially with the expansion of the foreign company,
02:32 especially in the Chinese market, and so on.
02:34 The decline in sales and decline in wills
02:37 puts pressure on the results of the former Saudi company
02:40 at the end of the first quarter of 2024.
02:44 in that.