SABIC Q1 2023 profit dips 90% to SAR 656.9 mln

04/05/2023 Argaam Exclusive
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Saudi Basic Industries Corp. (SABIC) posted a 90% slump in Q1 2023 net profit to SAR 656.9 million, compared to SAR 6.47 billion in the year-earlier period. The profit dive was primarily due to lower average selling prices and sales volumes, in addition to weak results from associates and joint ventures. 



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 52,641.59 36,432.36 (30.8 %)
Gross Income 13,476.89 5,845.25 (56.6 %)
Operating Income 8,586.28 1,196.84 (86.1 %)
Net Income 6,474.95 656.91 (89.9 %)
Average Shares 3,000.00 3,000.00 -
Earnings Per Share before unusual items 2.29 0.22 (90.4 %)
EPS (Riyals) 2.16 0.22 (89.9 %)

Compared to Q4 2022, Q1 2023 net profit more than doubled from SAR 302.70 million, driven by improved profit margins for some key products and lower operating costs.

 

However, this was partially offset by lower sales volumes.

 

Shareholders’ equity, after minority interest, declined to SAR 186.98 billion as of March 31, 2023, from SAR 187.58 billion a year earlier.

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Share Price

Saudi Basic Industries Corp.
63.70
(0.30) (0.47 %)

Saudi Basic Industries Corp. (SABIC)

1 Day (0.47 %) 5 Days 1.11 % 3 Months (5.21 %) 6 Months (14.95 %) Year (17.27 %) 2 Years (29.54 %) 5 Years (7.68 %) All 437.55 %
Created with Highstock 6.0.710:0510:2510:4010:5511:0511:1511:2511:4011:5012:0012:1512:3013:0513:2013:4013:5514:1514:3514:4514:5515:1527.727.827.92828.128.228.328.428.5
Close : 27.90 | Mar 27, 15:18
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Financial Ratios
Current
Market Cap (M Riyal) 191,100.00
Enterprise Value (EV) (M) 210,245.56
Shares Outstanding ((M)) 3,000.00
EPS ( Riyal) (TTM) 0.51
Book Value (BV) ( Riyal) 52.28
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 1.22
Return on Average Assets (%) (TTM) 0.5
Return on Average Equity (%) (TTM) 0.7
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