GASCO H1 2021 profit surges to SAR 121.7 mln

GASCO H1 2021 profit surges to SAR 121.7 mln

19/08/2021 Argaam Exclusive

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National Gas and Industrialization Co. (GASCO) reported a net profit of SAR 121.7 million for the first half of 2021, from SAR 37.8 million in the same period last year.

 

The higher profit was driven by an increase in operating income due to a decrease in the cost of revenues, and general and administrative expenses. The company increased profit share from associates and higher investments income due to dividends from National Industrial Gases Co.



Financials (M)

Item 6m 2020 6m 2021 Change‬
Revenues 1,008.53 978.90 (2.9 %)
Gross Income 123.72 138.95 12.3 %
Operating Income 25.01 50.42 101.6 %
Net Income 37.78 121.70 222.1 %
Average Shares 75.00 75.00 -
EPS (Riyals) 0.50 1.62 222.1 %

In Q2 2021, net profit climbed 58% to SAR 36.5 million, from SAR 23.1 million in the prior-year period, thanks to higher operating and investment income.

 

On a sequential basis, GASCO’s net profit fell by 57% from SAR 85.2 million, hit by lower operating income and reduced profit share from associates.



Current Quarter Comparison (M)

Compared With The
Item Q2 2020 Q2 2021 Change‬
Revenues 479.89 467.82 (2.5 %)
Gross Income 49.68 62.63 26.1 %
Operating Income (1.38) 16.48 1291.3 %
Net Income 23.10 36.51 58.0 %
Average Shares 75.00 75.00 -
EPS (Riyals) 0.31 0.49 58.0 %

View more financial results

 

 



Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2012 447.13 7.2 % 43.36 106.9 % 34.97 292.3 % 0.47
Q2 2012 416.02 1.3 % 42.07 0.9 % 33.81 (7.2 %) 0.45
Q3 2012 429.06 6.6 % 44.11 25.6 % 29.16 8.2 % 0.39
Q4 2012 459.49 4.2 % 56.80 22.8 % 41.44 21.8 % 0.55
Q1 2013 457.70 2.4 % 43.49 0.3 % 36.39 4.1 % 0.49
Q2 2013 437.49 5.2 % 50.50 20.0 % 37.90 12.1 % 0.51
Q3 2013 440.07 2.6 % 46.27 4.9 % 37.06 27.1 % 0.49
Q4 2013 452.53 (1.5 %) 41.51 (26.9 %) 2.58 (93.8 %) 0.03
Q1 2014 459.99 0.5 % 44.02 1.2 % 33.53 (7.9 %) 0.45
Q2 2014 445.11 1.7 % 45.19 (10.5 %) 38.25 0.9 % 0.51
Q3 2014 436.94 (0.7 %) 54.00 16.7 % 43.99 18.7 % 0.59
Q4 2014 456.13 0.8 % 43.81 5.5 % 36.48 1312.9 % 0.49
Q1 2015 482.46 4.9 % 45.82 4.1 % 41.68 24.3 % 0.56
Q2 2015 474.91 6.7 % 54.47 20.5 % 27.42 (28.3 %) 0.37
Q3 2015 453.64 3.8 % 41.59 (23.0 %) 32.50 (26.1 %) 0.43
Q4 2015 496.02 8.7 % 52.33 19.5 % 40.29 10.5 % 0.54
Q1 2016 511.22 6.0 % 63.03 37.6 % 50.28 20.6 % 0.67
Q2 2016 503.70 6.1 % 44.05 (19.1 %) 23.03 (16.0 %) 0.31
Q3 2016 454.05 0.1 % 52.65 26.6 % 30.37 (6.6 %) 0.40
Q4 2016 506.99 2.2 % 72.28 38.1 % 43.06 6.9 % 0.57
Q1 2017 520.06 1.7 % 63.49 0.7 % 64.98 29.2 % 0.87
Q2 2017 499.38 (0.9 %) 46.16 4.8 % 37.79 64.1 % 0.50
Q3 2017 460.19 1.4 % 55.56 5.5 % 38.73 27.5 % 0.52
Q4 2017 505.52 (0.3 %) 114.02 57.7 % (14.15) (132.9 %) (0.19)
Q1 2018 490.48 (5.7 %) 64.58 1.7 % 38.83 (40.2 %) 0.52
Q2 2018 474.75 (4.9 %) 60.69 31.5 % 32.36 (14.4 %) 0.43
Q3 2018 449.05 (2.4 %) 62.31 12.2 % 34.60 (10.6 %) 0.46
Q4 2018 486.30 (3.8 %) 47.00 (58.8 %) (13.42) 5.2 % (0.18)
Q1 2019 495.28 1.0 % 67.59 4.7 % 93.17 139.9 % 1.24
Q2 2019 463.14 (2.4 %) 55.98 (7.8 %) 8.14 (74.8 %) 0.11
Q3 2019 462.01 2.9 % 82.15 31.8 % 30.46 (12.0 %) 0.41
Q4 2019 502.13 3.3 % 37.21 (20.8 %) (22.32) (66.3 %) (0.30)
Q1 2020 528.64 6.7 % 74.04 9.5 % 14.68 (84.2 %) 0.20
Q2 2020 479.89 3.6 % 49.68 (11.3 %) 23.10 183.7 % 0.31
Q3 2020 453.71 (1.8 %) 44.04 (46.4 %) 17.03 (44.1 %) 0.23
Q4 2020 500.80 (0.3 %) 54.75 47.1 % 82.08 467.8 % 1.09
Q1 2021 511.08 (3.3 %) 76.32 3.1 % 85.19 480.4 % 1.14
Q2 2021 467.82 (2.5 %) 62.63 26.1 % 36.51 58.0 % 0.49

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 9.78 % 10.16 % 8.20 %
Q2 2012 9.78 % 10.19 % 8.00 %
Q3 2012 10.14 % 10.73 % 8.01 %
Q4 2012 10.64 % 11.35 % 7.81 %
Q1 2013 10.58 % 11.37 % 7.63 %
Q2 2013 10.93 % 11.85 % 7.71 %
Q3 2013 10.98 % 11.93 % 8.06 %
Q4 2013 10.17 % 9.58 % 5.92 %
Q1 2014 10.18 % 9.85 % 6.08 %
Q2 2014 9.85 % 9.63 % 6.17 %
Q3 2014 10.29 % 10.17 % 6.59 %
Q4 2014 10.40 % 12.07 % 8.47 %
Q1 2015 10.37 % 11.85 % 8.81 %
Q2 2015 10.71 % 12.05 % 8.08 %
Q3 2015 9.94 % 11.28 % 7.40 %
Q4 2015 10.18 % 11.29 % 7.44 %
Q1 2016 10.92 % 11.49 % 7.77 %
Q2 2016 10.23 % 10.29 % 7.44 %
Q3 2016 10.79 % 10.28 % 7.33 %
Q4 2016 11.74 % 10.92 % 7.81 %
Q1 2017 11.71 % 10.75 % 8.23 %
Q2 2017 11.84 % 11.24 % 9.00 %
Q3 2017 11.95 % 11.26 % 9.02 %
Q4 2017 14.07 % 12.23 % 9.53 %
Q1 2018 14.33 % 12.38 % 8.63 %
Q2 2018 15.27 % 12.76 % 8.46 %
Q3 2018 15.71 % 12.90 % 8.68 %
Q4 2018 12.34 % 9.28 % 4.86 %
Q1 2019 12.47 % 9.13 % 7.70 %
Q2 2019 12.30 % 8.19 % 6.47 %
Q3 2019 13.25 % 8.26 % 6.21 %
Q4 2019 12.64 % 6.25 % 5.69 %
Q1 2020 12.75 % 6.02 % 1.58 %
Q2 2020 12.32 % 5.38 % 2.33 %
Q3 2020 10.43 % 3.53 % 1.65 %
Q4 2020 11.33 % 6.81 % 6.97 %
Q1 2021 11.55 % 7.22 % 10.66 %
Q2 2021 12.30 % 8.15 % 11.42 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 75.00 1.77 1.86 13.69
Q2 2012 75.00 1.73 1.82 14.14
Q3 2012 75.00 1.76 1.85 14.03
Q4 2012 75.00 1.86 1.82 14.56
Q1 2013 75.00 1.88 1.79 14.04
Q2 2013 75.00 1.93 1.83 14.55
Q3 2013 75.00 2.04 1.93 14.29
Q4 2013 75.00 1.52 1.41 13.31
Q1 2014 75.00 1.48 1.45 13.35
Q2 2014 75.00 1.49 1.48 13.47
Q3 2014 75.00 1.58 1.58 13.62
Q4 2014 75.00 2.03 2.03 13.53
Q1 2015 75.00 2.14 2.14 13.75
Q2 2015 75.00 1.99 1.99 13.80
Q3 2015 75.00 1.84 1.84 13.88
Q4 2015 75.00 1.89 1.89 14.03
Q1 2016 75.00 2.01 2.01 14.18
Q2 2016 75.00 1.95 1.95 14.22
Q3 2016 75.00 1.92 1.92 14.33
Q4 2016 75.00 1.96 2.06 14.93
Q1 2017 75.00 2.15 2.18 15.46
Q2 2017 75.00 2.35 2.38 15.53
Q3 2017 75.00 2.46 2.39 15.75
Q4 2017 75.00 1.70 2.52 21.45
Q1 2018 75.00 1.35 2.25 15.59
Q2 2018 75.00 1.28 2.18 15.23
Q3 2018 75.00 1.22 2.22 15.19
Q4 2018 75.00 1.23 1.23 21.98
Q1 2019 75.00 1.96 1.96 24.50
Q2 2019 75.00 1.63 1.63 24.70
Q3 2019 75.00 1.58 1.58 24.37
Q4 2019 75.00 1.46 1.46 20.86
Q1 2020 75.00 0.41 0.41 20.62
Q2 2020 75.00 0.61 0.61 20.52
Q3 2020 75.00 0.43 0.43 20.83
Q4 2020 75.00 1.83 1.83 20.87
Q1 2021 75.00 2.77 2.77 22.26
Q2 2021 75.00 2.94 2.94 22.36

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 13.96 13.24 1.80
Q2 2012 12.14 11.54 1.49
Q3 2012 11.99 11.40 1.50
Q4 2012 9.79 9.98 1.25
Q1 2013 10.65 11.15 1.42
Q2 2013 10.30 10.86 1.37
Q3 2013 11.27 11.89 1.61
Q4 2013 17.51 18.84 2.00
Q1 2014 19.24 19.63 2.13
Q2 2014 19.96 20.07 2.20
Q3 2014 21.82 21.82 2.53
Q4 2014 16.04 16.04 2.41
Q1 2015 14.67 14.67 2.28
Q2 2015 15.32 15.32 2.21
Q3 2015 14.61 14.61 1.94
Q4 2015 13.44 13.44 1.81
Q1 2016 10.85 10.85 1.53
Q2 2016 13.97 13.97 1.91
Q3 2016 12.76 12.76 1.71
Q4 2016 16.89 16.05 2.21
Q1 2017 15.06 14.88 2.10
Q2 2017 13.62 13.47 2.06
Q3 2017 12.91 13.30 2.02
Q4 2017 17.99 12.11 1.42
Q1 2018 22.42 13.45 1.94
Q2 2018 24.08 14.12 2.02
Q3 2018 22.10 12.16 1.78
Q4 2018 22.73 22.73 1.27
Q1 2019 16.28 16.28 1.30
Q2 2019 18.40 18.40 1.22
Q3 2019 18.92 18.92 1.23
Q4 2019 21.18 21.18 1.48
Q1 2020 71.35 71.35 1.43
Q2 2020 46.39 46.39 1.38
Q3 2020 70.64 70.64 1.47
Q4 2020 16.71 16.71 1.46
Q1 2021 11.73 11.73 1.46
Q2 2021 14.57 14.57 1.92

Business Segments (Million)

Compared With The
Period Sale of gas Sale of cylinders Sale of tanks Sale of extensions and other business Other revenues Commercial projects Cages revenues Sales return


Financial Ratios
Current
Market Cap (M Riyal) 6,630.00
Enterprise Value (EV) (M) 6,420.17
Shares Outstanding ((M)) 75.00
EPS ( Riyal) (TTM) 3.11
Book Value (BV) ( Riyal) 25.84
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 28.46
P/E (TTM) 28.46
Price/book 3.42
Return on Average Assets (%) (TTM) 9.2
Return on Average Equity (%) (TTM) 12.2
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Share Price

National Gas and Industrialization Co.
88.50
(2.00) (2.21 %)

National Gas and Industrialization Co. (GASCO)

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