Saudi KAYAN's 2014 losses down 74% to SAR 44.5 million

18/01/2015 Argaam Exclusive

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Saudi KAYAN Petrochemical Company, a petrochemical producer 35% owned by Sabic, reported 2014 net loss of SAR 44.5 million compared to a loss of SAR 346.4 million for the last year.

A net profit of SAR 11.8 million was reported for Q4-2014 compared to SAR 66.9 million for Q3.

Financials (M)

Item	2013	2014	Change‬
Revenues	10,352.65	11,636.03	12.4 %
Gross Income	625.10	975.60	56.1 %
Operating Income	258.26	522.78	102.4 %
Net Income	(346.41)	(44.71)	87.1 %
Average Shares	1,500.00	1,500.00	-
EPS (Riyals)	(0.23)	(0.03)	87.1 %

The company attributed the decline of 2014’s net loss compared to the previous year to the higher production, higher sales quantity, improvement in average selling prices, lower feedstock costs and decrease of Zakat provision. There was an increase in selling, general & administrative expense and increase of financial charges. The company had scheduled maintenance activities for three month during last year.

The increase of Q4-2014’s net profit compared to the same period last year to, the decrease of feedstock prices, decrease of Zakat provision and increase of the other income associated with foreign currency exchange gains. However, there was a decline in average selling prices and sales quantity for most of the company’s products during the current quarter. There was an increase of selling, general & administrative expenses and increase of financial charges.

The decline of Q4-2014’s net profit compared to the previous period (Q3-2014), was attributed to the decrease of average selling prices, decrease of sales quantity , increase of selling, general & administrative expenses and increase of financial charges. There was also a decrease in feedstock cost and Zakat provision during the current quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2013	Q4 2014	Change‬
Revenues	2,932.52	2,526.04	(13.9 %)
Gross Income	264.49	267.87	1.3 %
Operating Income	160.27	144.72	(9.7 %)
Net Income	3.42	11.78	244.7 %
Average Shares	1,500.00	1,500.00	-
EPS (Riyals)	0.00	0.01	244.7 %

Item	Q3 2014	Q4 2014	Change‬
Revenues	3,235.38	2,526.04	(21.9 %)
Gross Income	317.95	267.87	(15.8 %)
Operating Income	207.06	144.72	(30.1 %)
Net Income	66.91	11.78	(82.4 %)
Average Shares	1,500.00	1,500.00	-
EPS (Riyals)	0.04	0.01	(82.4 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2005	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-
2005	-	-	-	-	-	-
Q1 2006	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-
2006	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	-	-	-	-	-	-
Q1 2008	-	-	-	-	-	-
Q2 2008	-	-	-	-	-	-
Q3 2008	-	-	-	-	-	-
Q4 2008	-	-	-	-	-	-
2008	-	-	-	-	-	-
Q1 2009	-	-	-	-	(6.27)	-
Q2 2009	-	-	-	-	(6.49)	-
Q3 2009	-	-	-	-	(3.72)	-
Q4 2009	-	-	-	-	(0.37)	-
2009	-	-	-	-	(16.85)	-
Q1 2010	-	-	-	-	(3.68)	41.3 %
Q2 2010	-	-	-	-	(1.60)	75.3 %
Q3 2010	-	-	-	-	(5.05)	(35.5 %)
Q4 2010	-	-	-	-	(3.92)	(957.7 %)
2010	-	-	-	-	(14.25)	15.4 %
Q1 2011	-	-	-	-	(3.46)	5.8 %
Q2 2011	-	-	-	-	(3.38)	(111.3 %)
Q3 2011	-	-	-	-	(4.14)	18.0 %
Q4 2011	2,403.41	-	32.44	-	(45.19)	(1,051.5 %)
2011	2,403.41	-	32.44	-	(56.16)	(294.2 %)
Q1 2012	2,043.31	-	132.23	-	75.65	2285.8 %
Q2 2012	2,316.89	-	(72.29)	-	(162.15)	(4,700.1 %)
Q3 2012	2,196.23	-	52.68	-	(24.86)	(500.8 %)
Q4 2012	2,925.81	21.7 %	38.99	20.2 %	(67.49)	(49.4 %)
2012	9,482.23	294.5 %	151.61	367.4 %	(178.84)	(218.4 %)
Q1 2013	2,079.89	1.8 %	58.73	(55.6 %)	(10.73)	(114.2 %)
Q2 2013	2,288.05	(1.2 %)	(20.14)	72.1 %	(106.55)	34.3 %
Q3 2013	3,052.20	39.0 %	304.95	478.9 %	198.20	897.4 %
Q4 2013	2,932.52	0.2 %	264.49	578.4 %	160.27	337.5 %
2013	10,352.65	9.2 %	625.10	312.3 %	258.26	244.4 %
Q1 2014	2,909.36	39.9 %	260.96	344.4 %	161.50	1604.9 %
Q2 2014	2,965.26	29.6 %	126.54	728.2 %	7.23	106.8 %
Q3 2014	3,235.38	6.0 %	317.95	4.3 %	207.06	4.5 %
Q4 2014	2,526.04	(13.9 %)	267.87	1.3 %	144.72	(9.7 %)
2014	11,636.03	12.4 %	975.60	56.1 %	522.78	102.4 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2005	-	-	-	-	-	-
2006	-	-	-	-	-	-
2007	-	-	-	-	-	-
2008	-	-	-	-	-	-
2009	-	-	-	-	(16.85)	-
2010	-	-	-	-	(14.25)	15.4 %
2011	2,403.41	-	32.44	-	(56.16)	(294.2 %)
2012	9,482.23	294.5 %	151.61	367.4 %	(178.84)	(218.4 %)
2013	10,352.65	9.2 %	625.10	312.3 %	258.26	244.4 %
2014	11,636.03	12.4 %	975.60	56.1 %	522.78	102.4 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2005	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-
2005	-	-	-	-	-	-
Q1 2006	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-
2006	-	-	-	-	-	-
Q1 2007	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-
Q3 2007	-	-	-	-	-	-
Q4 2007	-	-	-	-	-	-
2007	322.51	-	0.22	(164.03)	486.54	0.32
Q1 2008	95.64	-	0.06	-	95.64	0.06
Q2 2008	59.69	-	0.04	11.41	48.28	0.03
Q3 2008	24.61	-	0.02	-	24.61	0.02
Q4 2008	(8.37)	-	(0.01)	(19.35)	10.99	0.01
2008	171.57	(46.8 %)	0.11	(7.95)	179.52	0.12
Q1 2009	(6.27)	(106.6 %)	0.00	-	(6.27)	0.00
Q2 2009	(6.49)	(110.9 %)	0.00	-	(6.49)	0.00
Q3 2009	(3.72)	(115.1 %)	0.00	-	(3.72)	0.00
Q4 2009	(0.44)	94.7 %	0.00	-	(0.44)	0.00
2009	(16.92)	(109.9 %)	(0.01)	-	(16.92)	(0.01)
Q1 2010	(3.77)	39.8 %	0.00	-	(3.77)	0.00
Q2 2010	(1.80)	72.3 %	0.00	-	(1.80)	0.00
Q3 2010	(5.07)	(36.1 %)	0.00	-	(5.07)	0.00
Q4 2010	(3.98)	(800.2 %)	0.00	-	(3.98)	0.00
2010	(14.61)	13.6 %	(0.01)	-	(14.61)	(0.01)
Q1 2011	(8.33)	(121.1 %)	(0.01)	-	(8.33)	(0.01)
Q2 2011	(16.01)	(791.4 %)	(0.01)	-	(16.01)	(0.01)
Q3 2011	(35.16)	(593.7 %)	(0.02)	-	(35.16)	(0.02)
Q4 2011	(190.75)	(4,693.9 %)	(0.13)	(10.98)	(179.78)	(0.12)
2011	(250.25)	(1,612.6 %)	(0.17)	(10.98)	(239.28)	(0.16)
Q1 2012	(71.12)	(753.5 %)	(0.05)	-	(71.12)	(0.05)
Q2 2012	(328.32)	(1,950.7 %)	(0.22)	-	(328.32)	(0.22)
Q3 2012	(178.37)	(407.3 %)	(0.12)	-	(178.37)	(0.12)
Q4 2012	(194.45)	(1.9 %)	(0.13)	-	(194.45)	(0.13)
2012	(772.27)	(208.6 %)	(0.51)	-	(772.27)	(0.51)
Q1 2013	(154.87)	(117.8 %)	(0.10)	-	(154.87)	(0.10)
Q2 2013	(238.24)	27.4 %	(0.16)	-	(238.24)	(0.16)
Q3 2013	43.27	124.3 %	0.03	-	43.27	0.03
Q4 2013	3.42	101.8 %	0.00	-	3.42	0.00
2013	(346.41)	55.1 %	(0.23)	-	(346.41)	(0.23)
Q1 2014	9.94	106.4 %	0.01	-	9.94	0.01
Q2 2014	(133.09)	44.1 %	(0.09)	-	(133.09)	(0.09)
Q3 2014	66.91	54.6 %	0.04	-	66.91	0.04
Q4 2014	11.78	244.7 %	0.01	-	11.78	0.01
2014	(44.71)	87.1 %	(0.03)	-	(44.71)	(0.03)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2005	-	-	-	-	-	-
2006	-	-	-	-	-	-
2007	322.51	-	0.22	(164.03)	486.54	0.32
2008	171.57	(46.8 %)	0.11	(7.95)	179.52	0.12
2009	(16.92)	(109.9 %)	(0.01)	-	(16.92)	(0.01)
2010	(14.61)	13.6 %	(0.01)	-	(14.61)	(0.01)
2011	(250.25)	(1,612.6 %)	(0.17)	(10.98)	(239.28)	(0.16)
2012	(772.27)	(208.6 %)	(0.51)	-	(772.27)	(0.51)
2013	(346.41)	55.1 %	(0.23)	-	(346.41)	(0.23)
2014	(44.71)	87.1 %	(0.03)	-	(44.71)	(0.03)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	1.35 %	16.92 %	(9.96 %)
2011	1.35 %	16.92 %	(9.96 %)
Q1 2012	3.70 %	21.55 %	(6.79 %)
Q2 2012	1.37 %	19.05 %	(9.08 %)
Q3 2012	1.62 %	19.64 %	(8.46 %)
Q4 2012	1.60 %	19.88 %	(8.14 %)
2012	1.60 %	19.88 %	(8.14 %)
Q1 2013	0.82 %	19.41 %	(8.99 %)
Q2 2013	1.37 %	23.60 %	(8.07 %)
Q3 2013	3.70 %	25.88 %	(5.26 %)
Q4 2013	5.87 %	24.25 %	(3.35 %)
2013	6.04 %	24.41 %	(3.35 %)
Q1 2014	7.25 %	24.70 %	(1.62 %)
Q2 2014	8.07 %	22.57 %	(0.64 %)
Q3 2014	8.05 %	21.45 %	(0.44 %)
Q4 2014	8.36 %	25.33 %	(0.38 %)
2014	8.38 %	25.35 %	(0.38 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	-	-	-
2009	-	-	-
2010	-	-	-
2011	1.35 %	16.92 %	(9.96 %)
2012	1.60 %	19.88 %	(8.14 %)
2013	6.04 %	24.41 %	(3.35 %)
2014	8.38 %	25.35 %	(0.38 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	-	-	-
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	-	-	-
Q1 2010	-	-	-
Q2 2010	-	-	-
Q3 2010	-	-	-
Q4 2010	-	-	-
Q1 2011	-	-	-
Q2 2011	-	-	-
Q3 2011	-	-	-
Q4 2011	1.35 %	17.38 %	(7.48 %)
Q1 2012	6.47 %	26.83 %	(3.48 %)
Q2 2012	(3.12 %)	14.10 %	(14.17 %)
Q3 2012	2.40 %	21.25 %	(8.12 %)
Q4 2012	1.33 %	18.58 %	(6.65 %)
Q1 2013	2.82 %	24.54 %	(7.45 %)
Q2 2013	(0.88 %)	31.44 %	(10.41 %)
Q3 2013	9.99 %	29.63 %	1.42 %
Q4 2013	9.02 %	12.82 %	0.12 %
Q1 2014	8.97 %	26.18 %	0.34 %
Q2 2014	4.27 %	21.38 %	(4.49 %)
Q3 2014	9.83 %	25.10 %	2.07 %
Q4 2014	10.60 %	29.30 %	0.47 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2005	-	-	-	-
Q2 2005	-	-	-	-
Q3 2005	-	-	-	-
Q4 2005	-	-	-	-
Q1 2006	-	-	-	-
Q2 2006	-	-	-	-
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	-	-	-	-
Q2 2007	-	-	-	-
Q3 2007	-	-	-	-
Q4 2007	-	-	-	-
Q1 2008	1,500.00	-	-	10.28
Q2 2008	1,500.00	-	-	10.32
Q3 2008	1,500.00	-	-	10.33
Q4 2008	1,500.00	0.11	0.12	10.33
Q1 2009	1,500.00	0.05	0.05	10.33
Q2 2009	1,500.00	0.00	0.02	10.32
Q3 2009	1,500.00	(0.02)	0.00	10.32
Q4 2009	1,500.00	(0.01)	(0.01)	10.32
Q1 2010	1,500.00	(0.01)	(0.01)	10.32
Q2 2010	1,500.00	(0.01)	(0.01)	10.31
Q3 2010	1,500.00	(0.01)	(0.01)	10.31
Q4 2010	1,500.00	(0.01)	(0.01)	10.31
Q1 2011	1,500.00	(0.01)	(0.01)	10.30
Q2 2011	1,500.00	(0.02)	(0.02)	10.29
Q3 2011	1,500.00	(0.04)	(0.04)	10.27
Q4 2011	1,500.00	(0.17)	(0.16)	10.14
Q1 2012	1,500.00	(0.21)	(0.20)	10.09
Q2 2012	1,500.00	(0.42)	(0.41)	9.88
Q3 2012	1,500.00	(0.51)	(0.51)	9.76
Q4 2012	1,500.00	(0.51)	(0.51)	9.63
Q1 2013	1,500.00	(0.57)	(0.57)	9.52
Q2 2013	1,500.00	(0.51)	(0.51)	9.36
Q3 2013	1,500.00	(0.36)	(0.36)	9.39
Q4 2013	1,500.00	(0.23)	(0.23)	9.40
Q1 2014	1,500.00	(0.12)	(0.12)	9.40
Q2 2014	1,500.00	(0.05)	(0.05)	9.31
Q3 2014	1,500.00	(0.04)	(0.04)	9.36
Q4 2014	1,500.00	(0.03)	(0.03)	9.37

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2005	-	-	-	-
2006	-	-	-	-
2007	1,500.00	0.22	0.32	10.22
2008	1,500.00	0.11	0.12	10.33
2009	1,500.00	(0.01)	(0.01)	10.32
2010	1,500.00	(0.01)	(0.01)	10.31
2011	1,500.00	(0.17)	(0.16)	10.14
2012	1,500.00	(0.51)	(0.51)	9.63
2013	1,500.00	(0.23)	(0.23)	9.40
2014	1,500.00	(0.03)	(0.03)	9.37

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	2.36
Q2 2008	-	-	2.40
Q3 2008	-	-	1.67
Q4 2008	85.24	81.47	0.94
Q1 2009	More than 100	More than 100	1.01
Q2 2009	More than 100	More than 100	1.33
Q3 2009	NEG	NEG	1.49
Q4 2009	NEG	NEG	1.76
Q1 2010	NEG	NEG	1.87
Q2 2010	NEG	NEG	1.74
Q3 2010	NEG	NEG	1.72
Q4 2010	NEG	NEG	1.87
Q1 2011	NEG	NEG	1.81
Q2 2011	NEG	NEG	1.79
Q3 2011	NEG	NEG	1.66
Q4 2011	NEG	NEG	1.72
Q1 2012	NEG	NEG	2.00
Q2 2012	NEG	NEG	1.51
Q3 2012	NEG	NEG	1.34
Q4 2012	NEG	NEG	1.26
Q1 2013	NEG	NEG	1.21
Q2 2013	NEG	NEG	1.22
Q3 2013	NEG	NEG	1.28
Q4 2013	NEG	NEG	1.67
Q1 2014	NEG	NEG	1.76
Q2 2014	NEG	NEG	1.58
Q3 2014	NEG	NEG	1.78
Q4 2014	NEG	NEG	1.17

Period	P/E	Adjusted P/E	Price/book
2005	-	-	-
2006	-	-	-
2007	More than 100	80.16	2.55
2008	85.24	81.47	0.94
2009	NEG	NEG	1.76
2010	NEG	NEG	1.87
2011	NEG	NEG	1.72
2012	NEG	NEG	1.26
2013	NEG	NEG	1.67
2014	NEG	NEG	1.17

Financial Ratios

	Current
Market Cap (M Riyal)	10,305.00
Enterprise Value (EV) (M)	18,965.11
Shares Outstanding ((M))	1,500.00
EPS ( Riyal) (TTM)	(1.16)
Book Value (BV) ( Riyal)	8.10
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	0.85
Return on Average Assets (%) (TTM)	(6.64 )
Return on Average Equity (%) (TTM)	(13.30 )

Saudi Kayan Petrochemical Co. (SAUDI KAYAN)

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Saudi KAYAN's 2014 losses down 74% to SAR 44.5 million

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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

Financial Ratios

Share Price

Saudi Kayan Petrochemical Co. (SAUDI KAYAN)

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Saudi KAYAN's 2014 losses down 74% to SAR 44.5 million

View other reports

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

Financial Ratios

Share Price

Saudi Kayan Petrochemical Co. (SAUDI KAYAN)

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