Bahri 9M 2023 net profit surges to SAR 1.21 bln; Q3 at SAR 224.3 mln

25/10/2023 Argaam Exclusive

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National Shipping Company of Saudi Arabia’s (Bahri) net profit after Zakat and tax soared to SAR 1.21 billion in the first nine months of 2023 from SAR 462.8 million a year earlier.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	5,865.08	6,754.07	15.2 %
Gross Income	786.37	1,556.69	98.0 %
Operating Income	692.03	1,613.22	133.1 %
Net Income	462.79	1,212.20	161.9 %
Average Shares	738.28	738.28	0.0 %
EPS (Riyals)	0.63	1.64	161.9 %

The profit surge was driven by the increase in revenues amid improvements in multiple segments performance, especially in the oil transportation segment, where its revenues have increased by SAR 414 million.

In addition, revenues from the chemicals transportation segment increased by SAR 623 million, thanks to higher global shipping rates during the current period compared with the same period last year.

Moreover, financial results for the nine-month period were buoyed by the increase in other income by SAR 215 million year-on-year, which is mainly due to the realized capital gain of SAR 123 million from the sale of vessels within the fleet modernization plan, in addition to the collection of the insurance claims of SAR 60 million.

Bahri also recorded a rise in its share in the results of equity-accounted investee companies at SAR 166 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	2,292.72	2,026.66	(11.6 %)
Gross Income	383.24	360.74	(5.9 %)
Operating Income	381.50	421.28	10.4 %
Net Income	269.87	224.34	(16.9 %)
Average Shares	738.28	738.28	0.0 %
EPS (Riyals)	0.37	0.30	(16.9 %)

Item	Q2 2023	Q3 2023	Change‬
Revenues	2,352.18	2,026.66	(13.8 %)
Gross Income	580.72	360.74	(37.9 %)
Operating Income	518.71	421.28	(18.8 %)
Net Income	495.38	224.34	(54.7 %)
Average Shares	738.28	738.28	-
EPS (Riyals)	0.67	0.30	(54.7 %)

On the other hand, higher financing costs have offset the net profit growth during the current period.

The third-quarter net profit after Zakat and tax fell 16.9% to SAR 224.3 million, compared to SAR 269.87 million in Q3 2023.

Compared to Q2 2023, net profit dropped 54.7% from SAR 495.38 million.

Shareholders’ equity, after minority interest, amounted to SAR 11.453 billion by the end of the nine-month period, compared to SAR 9.914 billion in the same period a year ago.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	771.01	28.8 %	187.40	85.1 %	166.73	113.2 %
Q2 2014	762.50	10.3 %	136.91	(23.3 %)	119.30	(22.4 %)
Q3 2014	829.29	7.1 %	118.09	(25.6 %)	92.41	(30.4 %)
Q4 2014	1,263.62	61.5 %	231.83	64.2 %	196.91	45.1 %
2014	3,626.41	27.4 %	674.23	16.3 %	575.35	15.0 %
Q1 2015	1,642.46	113.0 %	455.21	142.9 %	427.94	156.7 %
Q2 2015	1,810.69	137.5 %	440.43	221.7 %	411.92	245.3 %
Q3 2015	1,917.64	131.2 %	611.25	417.6 %	545.29	490.1 %
Q4 2015	2,110.78	67.0 %	689.63	197.5 %	594.87	202.1 %
2015	7,464.02	105.8 %	2,196.52	225.8 %	1,980.03	244.1 %
Q1 2016	1,957.74	19.2 %	747.13	64.1 %	709.67	65.8 %
Q2 2016	1,835.25	1.4 %	555.39	26.1 %	522.95	27.0 %
Q3 2016	1,374.13	(28.3 %)	251.47	(58.9 %)	226.20	(58.5 %)
Q4 2016	1,621.37	(23.2 %)	338.33	(50.9 %)	322.44	(45.8 %)
2016	6,788.48	(9.1 %)	1,892.33	(13.8 %)	1,781.27	(10.0 %)
Q1 2017	1,937.84	(1.0 %)	477.79	(36.0 %)	438.50	(38.2 %)
Q2 2017	1,390.83	(24.2 %)	267.50	(51.8 %)	230.75	(55.9 %)
Q3 2017	1,283.62	(6.6 %)	209.54	(16.7 %)	173.22	(23.4 %)
Q4 2017	1,433.55	(11.6 %)	365.85	8.1 %	306.93	(4.8 %)
2017	6,045.84	(10.9 %)	1,320.68	(30.2 %)	1,149.41	(35.5 %)
Q1 2018	1,457.32	(24.8 %)	303.78	(36.4 %)	247.81	(43.5 %)
Q2 2018	1,496.97	7.6 %	334.47	25.0 %	304.47	31.9 %
Q3 2018	1,393.92	8.6 %	203.87	(2.7 %)	143.16	(17.4 %)
Q4 2018	1,781.70	24.3 %	404.86	10.7 %	378.65	23.4 %
2018	6,129.91	1.4 %	1,246.98	(5.6 %)	1,077.47	(6.3 %)
Q1 2019	1,705.77	17.0 %	426.18	40.3 %	373.20	50.6 %
Q2 2019	1,440.28	(3.8 %)	240.13	(28.2 %)	198.17	(34.9 %)
Q3 2019	1,481.56	6.3 %	296.11	45.2 %	240.74	68.2 %
Q4 2019	1,939.40	8.9 %	464.58	14.8 %	377.75	(0.2 %)
2019	6,567.02	7.1 %	1,427.00	14.4 %	1,194.08	10.8 %
Q1 2020	2,082.18	22.1 %	561.35	31.7 %	498.88	33.7 %
Q2 2020	3,532.43	145.3 %	962.62	300.9 %	919.60	364.0 %
Q3 2020	1,510.30	1.9 %	379.89	28.3 %	307.24	27.6 %
Q4 2020	1,268.09	(34.6 %)	218.02	(53.1 %)	160.74	(57.4 %)
2020	8,393.00	27.8 %	2,121.87	48.7 %	1,886.46	58.0 %
Q1 2021	1,189.20	(42.9 %)	84.20	(85.0 %)	56.05	(88.8 %)
Q2 2021	1,294.76	(63.3 %)	127.27	(86.8 %)	78.63	(91.4 %)
Q3 2021	1,320.58	(12.6 %)	133.10	(65.0 %)	89.71	(70.8 %)
Q4 2021	1,546.54	22.0 %	211.93	(2.8 %)	163.98	2.0 %
2021	5,351.08	(36.2 %)	556.50	(73.8 %)	388.36	(79.4 %)
Q1 2022	1,579.07	32.8 %	156.17	85.5 %	113.24	102.0 %
Q2 2022	1,993.28	53.9 %	246.96	94.0 %	197.29	150.9 %
Q3 2022	2,292.72	73.6 %	383.24	187.9 %	381.50	325.3 %
Q4 2022	2,717.50	75.7 %	684.76	223.1 %	604.24	268.5 %
2022	8,582.58	60.4 %	1,471.13	164.4 %	1,296.27	233.8 %
Q1 2023	2,375.22	50.4 %	615.24	293.9 %	576.61	409.2 %
Q2 2023	2,352.18	18.0 %	580.72	135.1 %	518.71	162.9 %
Q3 2023	2,026.66	(11.6 %)	360.74	(5.9 %)	421.28	10.4 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	2,846.70	15.5 %	579.56	8.0 %	500.44	10.3 %
2014	3,626.41	27.4 %	674.23	16.3 %	575.35	15.0 %
2015	7,464.02	105.8 %	2,196.52	225.8 %	1,980.03	244.1 %
2016	6,788.48	(9.1 %)	1,892.33	(13.8 %)	1,781.27	(10.0 %)
2017	6,045.84	(10.9 %)	1,320.68	(30.2 %)	1,149.41	(35.5 %)
2018	6,129.91	1.4 %	1,246.98	(5.6 %)	1,077.47	(6.3 %)
2019	6,567.02	7.1 %	1,427.00	14.4 %	1,194.08	10.8 %
2020	8,393.00	27.8 %	2,121.87	48.7 %	1,886.46	58.0 %
2021	5,351.08	(36.2 %)	556.50	(73.8 %)	388.36	(79.4 %)
2022	8,582.58	60.4 %	1,471.13	164.4 %	1,296.27	233.8 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	195.15	41.3 %	0.29	0.07	195.08	0.29
Q2 2014	130.43	(20.7 %)	0.20	0.76	129.67	0.20
Q3 2014	84.85	(49.9 %)	0.13	0.31	84.55	0.13
Q4 2014	123.42	(56.0 %)	0.19	4.26	119.16	0.18
2014	533.84	(29.0 %)	0.80	5.39	528.45	0.80
Q1 2015	398.41	104.2 %	0.54	1.53	396.88	0.54
Q2 2015	342.48	162.6 %	0.46	0.75	341.73	0.46
Q3 2015	510.30	501.4 %	0.69	1.42	508.88	0.69
Q4 2015	566.40	358.9 %	0.77	1.41	564.98	0.77
2015	1,817.58	240.5 %	2.46	5.11	1,812.48	2.45
Q1 2016	612.92	53.8 %	0.83	(33.81)	646.74	0.88
Q2 2016	487.10	42.2 %	0.66	-	487.10	0.66
Q3 2016	315.38	(38.2 %)	0.43	150.00	165.38	0.22
Q4 2016	302.47	(46.6 %)	0.41	-	302.47	0.41
2016	1,717.87	(5.5 %)	2.33	116.19	1,601.68	2.17
Q1 2017	378.86	(38.2 %)	0.51	-	378.86	0.51
Q2 2017	153.91	(68.4 %)	0.21	-	153.91	0.21
Q3 2017	60.51	(80.8 %)	0.08	-	60.51	0.08
Q4 2017	207.04	(31.5 %)	0.28	(28.90)	235.94	0.32
2017	800.31	(53.4 %)	1.08	(28.90)	829.22	1.12
Q1 2018	123.14	(67.5 %)	0.17	-	123.14	0.17
Q2 2018	185.41	20.5 %	0.25	-	185.41	0.25
Q3 2018	81.28	34.3 %	0.11	-	81.28	0.11
Q4 2018	91.41	(55.8 %)	0.12	-	91.41	0.12
2018	481.24	(39.9 %)	0.65	-	481.24	0.65
Q1 2019	179.33	45.6 %	0.24	-	179.33	0.24
Q2 2019	45.57	(75.4 %)	0.06	-	45.57	0.06
Q3 2019	146.73	80.5 %	0.20	-	146.73	0.20
Q4 2019	249.08	172.5 %	0.34	-	249.08	0.34
2019	620.70	29.0 %	0.84	-	620.70	0.84
Q1 2020	419.22	133.8 %	0.57	-	419.22	0.57
Q2 2020	760.61	1569.0 %	1.03	-	760.61	1.03
Q3 2020	313.74	113.8 %	0.42	-	313.74	0.42
Q4 2020	77.54	(68.9 %)	0.11	-	77.54	0.11
2020	1,571.11	153.1 %	2.13	-	1,571.11	2.13
Q1 2021	43.56	(89.6 %)	0.06	-	43.56	0.06
Q2 2021	38.91	(94.9 %)	0.05	-	38.91	0.05
Q3 2021	17.99	(94.3 %)	0.02	-	17.99	0.02
Q4 2021	91.98	18.6 %	0.12	-	91.98	0.12
2021	192.43	(87.8 %)	0.26	-	192.43	0.26
Q1 2022	64.90	49.0 %	0.09	-	64.90	0.09
Q2 2022	128.02	229.0 %	0.17	-	128.02	0.17
Q3 2022	269.87	1400.0 %	0.37	5.63	264.24	0.36
Q4 2022	578.12	528.5 %	0.78	154.21	423.92	0.57
2022	1,040.91	440.9 %	1.41	159.84	881.07	1.19
Q1 2023	492.49	658.9 %	0.67	16.76	475.74	0.64
Q2 2023	495.38	287.0 %	0.67	72.65	422.73	0.57
Q3 2023	224.34	(16.9 %)	0.30	98.01	126.33	0.17

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	752.26	49.3 %	1.27	74.14	678.12	1.15
2014	533.84	(29.0 %)	0.80	5.39	528.45	0.80
2015	1,817.58	240.5 %	2.46	5.11	1,812.48	2.45
2016	1,717.87	(5.5 %)	2.33	116.19	1,601.68	2.17
2017	800.31	(53.4 %)	1.08	(28.90)	829.22	1.12
2018	481.24	(39.9 %)	0.65	-	481.24	0.65
2019	620.70	29.0 %	0.84	-	620.70	0.84
2020	1,571.11	153.1 %	2.13	-	1,571.11	2.13
2021	192.43	(87.8 %)	0.26	-	192.43	0.26
2022	1,040.91	440.9 %	1.41	159.84	881.07	1.19

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	22.05 %	35.53 %	26.19 %
Q2 2014	20.20 %	34.14 %	24.47 %
Q3 2014	18.55 %	33.11 %	21.92 %
Q4 2014	18.59 %	32.49 %	14.57 %
2014	18.59 %	32.49 %	14.57 %
Q1 2015	20.94 %	33.66 %	16.24 %
Q2 2015	22.46 %	33.83 %	16.99 %
Q3 2015	26.21 %	36.02 %	20.60 %
Q4 2015	29.36 %	37.43 %	24.23 %
2015	29.43 %	37.52 %	24.28 %
Q1 2016	31.92 %	39.81 %	26.45 %
Q2 2016	33.29 %	40.77 %	28.23 %
Q3 2016	30.83 %	39.67 %	25.61 %
Q4 2016	27.88 %	40.49 %	23.59 %
2016	27.88 %	40.49 %	23.59 %
Q1 2017	23.98 %	36.68 %	19.71 %
Q2 2017	21.11 %	34.70 %	15.82 %
Q3 2017	20.74 %	35.49 %	14.37 %
Q4 2017	21.84 %	33.14 %	13.72 %
2017	21.84 %	33.14 %	13.72 %
Q1 2018	20.60 %	32.89 %	10.30 %
Q2 2018	21.40 %	33.93 %	10.67 %
Q3 2018	20.89 %	31.75 %	10.82 %
Q4 2018	20.34 %	32.61 %	7.85 %
2018	20.34 %	32.67 %	7.85 %
Q1 2019	21.47 %	33.09 %	8.43 %
Q2 2019	20.17 %	32.47 %	6.29 %
Q3 2019	21.33 %	33.13 %	7.22 %
Q4 2019	21.73 %	33.85 %	9.45 %
2019	21.73 %	33.91 %	9.45 %
Q1 2020	22.50 %	35.23 %	12.39 %
Q2 2020	25.29 %	35.36 %	17.44 %
Q3 2020	26.13 %	36.65 %	19.23 %
Q4 2020	25.28 %	36.45 %	18.72 %
2020	25.28 %	36.45 %	18.72 %
Q1 2021	21.93 %	34.16 %	15.94 %
Q2 2021	15.38 %	33.25 %	9.00 %
Q3 2021	11.09 %	30.99 %	3.51 %
Q4 2021	10.40 %	29.66 %	3.60 %
2021	10.40 %	29.66 %	3.60 %
Q1 2022	10.95 %	29.32 %	3.72 %
Q2 2022	11.62 %	28.28 %	4.70 %
Q3 2022	13.47 %	28.99 %	7.41 %
Q4 2022	17.14 %	30.63 %	10.27 %
2022	17.14 %	30.63 %	10.27 %
Q1 2023	20.58 %	33.11 %	13.77 %
Q2 2023	23.25 %	35.46 %	16.29 %
Q3 2023	23.67 %	37.03 %	15.30 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	20.36 %	34.07 %	23.82 %
2014	18.59 %	32.49 %	14.57 %
2015	29.43 %	37.52 %	24.28 %
2016	27.88 %	40.49 %	23.59 %
2017	21.84 %	33.14 %	13.72 %
2018	20.34 %	32.67 %	7.85 %
2019	21.73 %	33.91 %	9.45 %
2020	25.28 %	36.45 %	18.72 %
2021	10.40 %	29.66 %	3.60 %
2022	17.14 %	30.63 %	10.27 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	24.31 %	38.24 %	25.30 %
Q2 2014	17.96 %	33.13 %	17.01 %
Q3 2014	14.24 %	28.51 %	10.20 %
Q4 2014	18.35 %	31.21 %	9.43 %
Q1 2015	27.72 %	38.40 %	24.16 %
Q2 2015	24.32 %	33.95 %	18.87 %
Q3 2015	31.88 %	39.12 %	26.54 %
Q4 2015	32.67 %	38.13 %	26.77 %
Q1 2016	38.16 %	47.71 %	33.03 %
Q2 2016	30.26 %	38.10 %	26.54 %
Q3 2016	18.30 %	32.68 %	12.04 %
Q4 2016	20.87 %	41.11 %	18.65 %
Q1 2017	24.66 %	34.47 %	19.55 %
Q2 2017	19.23 %	29.57 %	11.07 %
Q3 2017	16.32 %	36.33 %	4.71 %
Q4 2017	25.52 %	31.94 %	16.46 %
Q1 2018	20.85 %	33.96 %	8.45 %
Q2 2018	22.34 %	33.76 %	12.39 %
Q3 2018	14.63 %	27.09 %	5.83 %
Q4 2018	22.72 %	34.86 %	5.13 %
Q1 2019	24.98 %	35.57 %	10.51 %
Q2 2019	16.67 %	31.03 %	3.16 %
Q3 2019	19.99 %	30.28 %	9.90 %
Q4 2019	23.95 %	37.16 %	12.84 %
Q1 2020	26.96 %	39.86 %	20.13 %
Q2 2020	27.25 %	33.85 %	21.53 %
Q3 2020	25.15 %	38.13 %	20.77 %
Q4 2020	17.19 %	36.11 %	6.11 %
Q1 2021	7.08 %	27.96 %	3.66 %
Q2 2021	9.83 %	29.62 %	3.01 %
Q3 2021	10.08 %	30.14 %	1.36 %
Q4 2021	13.70 %	30.58 %	5.95 %
Q1 2022	9.89 %	27.16 %	4.11 %
Q2 2022	12.39 %	26.15 %	6.42 %
Q3 2022	16.72 %	31.66 %	11.52 %
Q4 2022	25.20 %	35.05 %	15.60 %
Q1 2023	25.90 %	38.11 %	20.03 %
Q2 2023	24.69 %	36.95 %	17.97 %
Q3 2023	17.80 %	38.51 %	6.23 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	664.45	1.22	1.19	9.69
Q2 2014	664.45	1.17	1.14	9.91
Q3 2014	664.45	1.04	1.04	10.42
Q4 2014	664.45	0.80	0.80	10.59
Q1 2015	738.28	1.00	0.99	11.13
Q2 2015	738.28	1.29	1.28	11.12
Q3 2015	738.28	1.86	1.85	11.81
Q4 2015	738.28	2.46	2.45	12.58
Q1 2016	738.28	2.75	2.79	13.40
Q2 2016	738.28	2.95	2.99	12.75
Q3 2016	738.28	2.68	2.53	13.18
Q4 2016	738.28	2.33	2.17	13.11
Q1 2017	738.28	2.01	1.81	12.29
Q2 2017	738.28	1.56	1.36	12.50
Q3 2017	738.28	1.21	1.21	12.58
Q4 2017	738.28	1.08	1.12	12.86
Q1 2018	738.28	0.74	0.78	13.03
Q2 2018	738.28	0.78	0.82	12.48
Q3 2018	738.28	0.81	0.85	12.59
Q4 2018	738.28	0.65	0.65	12.70
Q1 2019	738.28	0.73	0.73	12.95
Q2 2019	738.28	0.54	0.54	12.21
Q3 2019	738.28	0.63	0.63	12.14
Q4 2019	738.28	0.84	0.84	12.48
Q1 2020	738.28	1.17	1.17	13.05
Q2 2020	738.28	2.13	2.13	13.54
Q3 2020	738.28	2.36	2.36	13.43
Q4 2020	738.28	2.13	2.13	13.53
Q1 2021	738.28	1.62	1.62	13.60
Q2 2021	738.28	0.64	0.64	13.12
Q3 2021	738.28	0.24	0.24	12.61
Q4 2021	738.28	0.26	0.26	12.75
Q1 2022	738.28	0.29	0.29	12.85
Q2 2022	738.28	0.41	0.41	13.07
Q3 2022	738.28	0.75	0.74	13.43
Q4 2022	738.28	1.41	1.19	14.21
Q1 2023	738.28	1.99	1.75	14.88
Q2 2023	738.28	2.49	2.15	15.21
Q3 2023	738.28	2.42	1.96	15.51

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	590.63	1.27	1.15	9.90
2014	664.45	0.80	0.80	10.59
2015	738.28	2.46	2.45	12.58
2016	738.28	2.33	2.17	13.11
2017	738.28	1.08	1.12	12.86
2018	738.28	0.65	0.65	12.70
2019	738.28	0.84	0.84	12.48
2020	738.28	2.13	2.13	13.53
2021	738.28	0.26	0.26	12.75
2022	738.28	1.41	1.19	14.21

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	16.45	16.84	2.33
Q2 2014	16.38	16.79	2.17
Q3 2014	21.80	21.83	1.96
Q4 2014	25.07	25.33	1.71
Q1 2015	21.79	22.00	1.96
Q2 2015	21.81	21.96	2.52
Q3 2015	11.12	11.18	1.75
Q4 2015	10.08	10.11	1.97
Q1 2016	8.16	8.04	1.68
Q2 2016	6.96	6.87	1.61
Q3 2016	6.04	6.42	1.23
Q4 2016	9.94	10.67	1.77
Q1 2017	9.47	10.53	1.55
Q2 2017	12.79	14.71	1.60
Q3 2017	13.84	13.84	1.33
Q4 2017	15.49	14.95	1.31
Q1 2018	22.68	21.53	1.28
Q2 2018	20.96	19.96	1.31
Q3 2018	22.08	21.06	1.42
Q4 2018	27.34	27.34	1.40
Q1 2019	22.14	22.14	1.24
Q2 2019	26.95	26.95	1.19
Q3 2019	24.93	24.93	1.29
Q4 2019	25.39	25.39	1.71
Q1 2020	16.46	16.46	1.47
Q2 2020	8.55	8.55	1.35
Q3 2020	9.53	9.53	1.67
Q4 2020	10.17	10.17	1.60
Q1 2021	12.87	12.87	1.53
Q2 2021	32.51	32.51	1.59
Q3 2021	84.87	84.87	1.62
Q4 2021	66.43	66.43	1.36
Q1 2022	65.78	65.78	1.48
Q2 2022	32.31	32.31	1.01
Q3 2022	24.31	24.56	1.36
Q4 2022	13.95	16.48	1.38
Q1 2023	10.89	12.38	1.46
Q2 2023	9.01	10.42	1.47
Q3 2023	9.78	12.09	1.53

Period	P/E	Adjusted P/E	Price/book
2013	14.77	16.38	1.90
2014	25.07	25.33	1.71
2015	10.08	10.11	1.97
2016	9.94	10.67	1.77
2017	15.49	14.95	1.31
2018	27.34	27.34	1.40
2019	25.39	25.39	1.71
2020	10.17	10.17	1.60
2021	66.43	66.43	1.36
2022	13.95	16.48	1.38

Business Segments (Million)

Compared With The

Period	Oil transport	Petrochemical transport	Logistics	Transport of bulk cargo	Other	Eliminations
Q1 2014	414.24	193.67	131.81	31.29	-	-
Q2 2014	376.89	205.90	147.11	32.60	-	-
Q3 2014	483.60	203.98	113.42	28.28	-	-
Q4 2014	877.53	199.37	158.05	28.67	-	-
Q1 2015	1,275.03	201.34	138.06	28.03	-	-
Q2 2015	1,413.36	193.19	175.87	28.28	-	-
Q3 2015	1,406.83	198.58	284.07	28.16	-	-
Q4 2015	1,636.53	181.50	245.11	30.09	-	-
Q1 2016	1,540.94	161.52	208.09	47.18	-	-
Q2 2016	1,370.17	194.70	215.25	55.14	-	-
Q3 2016	911.03	222.40	164.63	76.07	-	-
Q4 2016	975.57	195.53	343.81	92.77	-	-
Q1 2017	1,365.55	200.18	272.26	99.85	-	-
Q2 2017	800.48	193.65	285.22	111.49	-	-
Q3 2017	750.95	195.73	261.68	75.27	-	-
Q4 2017	809.27	215.71	318.80	75.70	-	-
Q1 2018	812.32	213.37	316.20	100.35	15.09	-
Q2 2018	906.92	226.02	245.65	104.13	14.25	-
Q3 2018	897.27	210.00	224.45	76.91	(14.70)	-
Q4 2018	1,076.04	222.80	371.73	106.00	5.14	-
Q1 2019	1,041.44	275.80	237.60	146.96	3.97	-
Q2 2019	807.92	258.81	264.17	103.89	5.49	-
Q3 2019	806.07	278.69	300.25	90.92	5.63	-
Q4 2019	1,303.77	291.85	267.25	78.29	(1.75)	-
Q1 2020	1,552.33	324.82	171.91	30.71	2.40	-
Q2 2020	2,849.21	345.19	316.76	29.18	(7.91)	-
Q3 2020	924.64	304.04	243.63	33.15	4.84	-
Q4 2020	764.74	267.89	186.55	44.33	4.58	-
Q1 2021	687.16	277.24	169.84	52.43	2.53	-
Q2 2021	747.62	259.41	226.75	57.87	3.11	-
Q3 2021	754.32	304.29	190.25	67.62	4.10	-
Q4 2021	913.36	333.82	221.89	75.57	1.83	-
Q1 2022	906.10	341.90	263.60	65.11	2.37	-
Q2 2022	1,135.45	455.11	319.27	80.60	2.86	-
Q3 2022	1,400.52	583.54	229.79	75.99	2.89	-
Q4 2022	1,677.15	677.55	286.51	74.69	1.61	-
Q1 2023	1,354.75	718.98	225.41	71.41	4.68	-
Q2 2023	1,390.13	663.74	225.81	70.03	2.48	-
Q3 2023	1,111.57	621.02	220.17	71.10	2.81	-

Period	Oil transport	Petrochemical transport	Logistics	Transport of bulk cargo	Other	Eliminations
2013	1,506.76	663.87	562.16	113.91	-	-
2014	2,152.26	802.92	550.39	120.84	-	-
2015	5,731.74	774.61	843.11	114.56	-	-
2016	4,797.71	774.15	931.77	271.16	-	(85.05)
2017	3,726.24	805.27	1,137.96	362.30	14.07	-
2018	3,692.55	872.17	1,158.02	387.39	19.78	-
2019	3,959.20	1,105.14	1,069.27	420.05	13.35	-
2020	6,090.91	1,241.95	918.85	137.37	3.92	-
2021	3,102.46	1,174.76	808.81	253.49	11.56	-
2022	5,119.22	2,058.10	1,099.16	296.39	9.72	-

Financial Ratios

	Current
Market Cap (M Riyal)	21,040.98
Enterprise Value (EV) (M)	27,536.22
Shares Outstanding ((M))	738.28
EPS ( Riyal) (TTM)	2.84
Book Value (BV) ( Riyal)	17.77
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	11.84
P/E (TTM)	10.04
Price/book	1.60
Return on Average Assets (%) (TTM)	8.6
Return on Average Equity (%) (TTM)	17.1

National Shipping Company of Saudi Arabia (BAHRI)

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Bahri 9M 2023 net profit surges to SAR 1.21 bln; Q3 at SAR 224.3 mln

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Financial results (Million)

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Per Share Data (Riyal)

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Bahri 9M 2023 net profit surges to SAR 1.21 bln; Q3 at SAR 224.3 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2023

Revenue by Business Segment (Latest) 2023 Q3

Financial Ratios

Share Price

National Shipping Company of Saudi Arabia (BAHRI)

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Business Segments (Million)