Luberef’s 9M 2023 profit up 2% at SAR 1.24 bln; Q3 at SAR 340.4 mln

06/11/2023 Argaam Exclusive
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Saudi Aramco Base Oil Co. (Luberef) reported a 2% rise in net profit to SAR 1.24 billion in the first nine months of 2023, compared to SAR 1.21 billion in the prior-year period.  

 


Financials (M)

Item 9m 2022 9m 2023 Change‬
Revenues 8,805.06 6,959.11 (21.0 %)
Gross Income 1,749.71 1,498.51 (14.4 %)
Operating Income 1,529.11 1,280.39 (16.3 %)
Net Income 1,214.89 1,240.96 2.1 %
Average Shares 168.75 168.75 -
Earnings Per Share before unusual items 7.99 7.22 (9.6 %)
EPS (Riyals) 7.20 7.35 2.1 %

The nine-month profit was spurred by lower Zakat and income tax expenses, as Luberef has become subject to tax after listing its shares.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Revenues 2,721.82 2,549.34 (6.3 %)
Gross Income 649.94 393.25 (39.5 %)
Operating Income 583.04 332.30 (43.0 %)
Net Income 474.79 340.43 (28.3 %)
Average Shares 168.75 168.75 -
Earnings Per Share before unusual items 2.95 1.89 (36.1 %)
EPS (Riyals) 2.81 2.02 (28.3 %)

The third-quarter net profit dropped 28% to SAR 340.4 million from SAR 474.79 million in Q3 2022 on lower base oil crack margins despite higher sales.

 

Luberef’s bottom line dropped 25.2% quarter-on-quarter (QoQ) from SAR 454.86 million in Q2 2023, hurt by lower base oil crack margins.

 

Total shareholders’ equity, no minority interest, increased to SAR 4.64 billion as of Sept. 30, 2023, from SAR 4.35 billion in the year-earlier period.

 

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Share Price

Saudi Aramco Base Oil Co.
105.00
0.80 0.77 %

Saudi Aramco Base Oil Co. (LUBEREF)

1 Day 0.77 % 5 Days 2.14 % 3 Months (5.75 %) 6 Months (20.33 %) Year (38.31 %) 2 Years (2.96 %) 5 Years 10.53 % All 10.53 %
Created with Highstock 6.0.710:1010:2010:3010:4010:5011:0011:1011:2011:3011:5012:0012:1012:2012:4012:5013:1013:2013:3013:4013:5014:0014:1014:2014:3014:4014:5015:1015:2093.493.593.693.793.893.99494.194.294.394.4
Close : 94.20 | Mar 27, 15:20
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Financial Ratios
Current
Market Cap (M Riyal) 17,718.75
Enterprise Value (EV) (M) 17,432.78
Shares Outstanding ((M)) 168.75
EPS ( Riyal) (TTM) 5.76
Book Value (BV) ( Riyal) 26.06
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 18.57
P/E (TTM) 18.23
Price/book 4.03
Return on Average Assets (%) (TTM) 11.7
Return on Average Equity (%) (TTM) 14.7
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