$46.9 billion Saudi Aramco net income in H1 2019

  • Monday 12, August 2019 02:30 PM
Sharjah 24 – SPA: Saudi Aramco Monday announced for the first time its half-year financial results. The Company’s net income was $46.9 billion for the first half 2019, compared to $53.0 billion for the same period last year.
Earnings before interest and tax* was $92.5 billion, compared with $101.3 billion a year earlier. Free cash flow was $38.0 billion, compared to $35.6 billion for the same period last year. Capital expenditure was $14.5 billion, compared to $16.5 billion for the same period in 2018.

Commenting on the results, Saudi Aramco President and CEO Amin H. Nasser, said: “Despite lower oil prices during the first half of 2019, we continued to deliver solid earnings and strong free cash flow underpinned by our consistent operational performance, cost management and fiscal discipline.

Disclosing our financial results for the first time, as part of our $12 billion debut international bond issuance, marked a significant milestone in Saudi Aramco’s history.