Saudi Aramco revealed as world’s most profitable company

April 02,2019

The world’s top oil producer, Saudi Aramco, became world’s top company in terms of profits in 2018, comfortably eclipsing the earnings of Apple and other US firms, according to newly published figures by Moody’s and Fitch.

The Saudi state-run oil giant has been keeping its revenues quiet for many years, but their financial secrets were revealed on Monday as the rating agencies published reports on the company’s performance ahead of its debut on the international bond market.

According to Fitch Ratings, Aramco generated a whopping $224 billion last year, before interest, tax, and depreciation. Meanwhile Moody’s said the company’s net income totals $111.1 billion, while its revenue stood at $355.9 billion. Both agencies rated Aramco quite high, giving A+ and A1 respectively. The world’s top oil producer, Saudi Aramco, became world’s top company in terms of profits in 2018, comfortably eclipsing the earnings of Apple and other US firms, according to newly published figures by Moody’s and Fitch.

The Saudi state-run oil giant has been keeping its revenues quiet for many years, but their financial secrets were revealed on Monday as the rating agencies published reports on the company’s performance ahead of its debut on the international bond market.

According to Fitch Ratings, Aramco generated a whopping $224 billion last year, before interest, tax, and depreciation. Meanwhile Moody’s said the company’s net income totals $111.1 billion, while its revenue stood at $355.9 billion. Both agencies rated Aramco quite high, giving A+ and A1 respectively.Saudi Arabia’s state-controlled energy giant is planning to issue a bond of at least $10 billion, according to last week’s media reports, with some speculating that the transaction could be even larger. The offering may come this week, the Wall Street Journal reported.