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NEW YORK (Reuters) – Saudi Aramco reported profits last year, 2018, showing that it is the most profitable company in the world, with a first earnings announcement in the UK. almost 50 years old.
The Saudi oil company made a profit of $ 111 billion last year, according to a Moody's credit rating, which will announce a large bond loan used by Aramco to finance the acquisition of 70 % of Saudi Basic Industries Corp. (SABIC), announced by Aramco a day ago for $ 69.1 billion The first public disclosure of Aramco's profits since its acquisition by the Saudi government in the 1970s.
By way of comparison, Apple, the world's most profitable public company, achieved a turnover of $ 59.4 billion in 2018, just over half of what Aramco had realized, while ExxonMobil, the largest US oil company, posted a profit of $ 20.8 billion. Royal Dutch Shell, the largest publicly traded oil company, posted a profit of $ 23.4 billion.
According to a rating from Moody's, Aramco's revenue was $ 355.9 billion and its cash flow was $ 48.8 billion at the end of last year, close to double its debt of $ 27 billion.
The financial performance of Aramco last year was boosted by a 31% increase in the average oil price in 2018 compared to 2017.
Last year, Aramco reported 5% of its shares, which may well be the largest public offering ever made. The Saudis were looking to raise $ 100 billion through this offer, as the market value of $ 2 trillion, more than double the value of Microsoft, the largest publicly traded company in the world. world, currently has $ 904.8 billion.
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