Aramco announce $25.5 billion Income in second quarter 2021
Saudi Arabian Oil Company (“Aramco” ) today announced its second quarter 2021 financial results, reporting a 288% increase in net income from the same quarter of last year to $25.5 billion and declaring a dividend of $18.8 billion. The Company’s net income for the first half of the year was $47.2 billion, representing a 103% increase over the same period in 2020.
The results were primarily driven by higher oil prices and a recovery in worldwide demand, supported by the global easing of COVID-19 restrictions, vaccination campaigns, stimulus measures and accelerating activity in key markets.
Highlights;
Net income: $25.5 billion (Q2) / $47.2 billion (H1)
Cash flow from operating activities: $30.1 billion (Q2) / $56.5 billion (H1)
Free cash flow: $22.6 billion (Q2) / $40.9 billion (H1) Gearing ratio: 19.4% (June 30) compared to 23% at end of 2020
Q1 dividend of $18.8 billion paid in the second quarter; Q2 dividend of $18.8 billion to be paid in the third quarter
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