Saudi Kayan swings to SAR 1.941 bln profit in 9M 2021

Saudi Kayan swings to SAR 1.941 bln profit in 9M 2021

24/10/2021 Argaam Exclusive

View other reports

Saudi Kayan Petrochemical Co. (Saudi Kayan) swung to a net profit after Zakat and tax of SAR 1.941 billion for the first nine months of 2021, versus a net loss of SAR 943.1 million in the prior-year period, driven by higher average selling prices and lower cost of financing, despite an increase in cost of feedstock and a decrease in quantities sold.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 5,530.38 9,091.10 64.4 %
Gross Income (55.00) 2,789.49 5172.0 %
Operating Income (486.62) 2,283.16 569.2 %
Net Income (943.14) 1,941.33 305.8 %
Average Shares 1,500.00 1,500.00 -
EPS (Riyals) (0.63) 1.29 305.8 %

Q3 2021 net profit after Zakat and tax stood at SAR 667.5 million, versus a net loss after Zakat and tax of SAR 28.16 million in the year-earlier period, due to higher average selling prices and lower cost of financing.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 2,105.54 3,434.07 63.1 %
Gross Income 236.53 983.04 315.6 %
Operating Income 79.72 788.81 889.4 %
Net Income (28.16) 667.45 2470.1 %
Average Shares 1,500.00 1,500.00 -
EPS (Riyals) (0.02) 0.44 2470.1 %

On a sequential basis, Q3 net profit dropped 14.5% from SAR 781 million.

 

The company’s accumulated losses were recovered, with retained earnings amounting to SAR 458.24 million.

 

Total shareholders equity, after minority interest, for the first nine months of 2021 rose 14.56% year-on-year (YoY) to SAR 15.97 billion.

 

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
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 %
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 %)
Q1 2015 1,752.65 (39.8 %) (367.86) (241.0 %) (442.91) (374.2 %)
Q2 2015 2,149.08 (27.5 %) 257.85 103.8 % 150.02 1975.8 %
Q3 2015 2,194.63 (32.2 %) 269.19 (15.3 %) 174.88 (15.5 %)
Q4 2015 1,879.36 (25.6 %) (368.21) (237.5 %) (475.53) (428.6 %)
Q1 2016 1,692.59 (3.4 %) 185.21 150.3 % 11.55 102.6 %
Q2 2016 2,154.63 0.3 % 508.21 97.1 % 311.41 107.6 %
Q3 2016 2,313.08 5.4 % 579.95 115.4 % 385.77 120.6 %
Q4 2016 2,448.52 30.3 % 531.95 244.5 % 350.46 173.7 %
Q1 2017 2,667.18 57.6 % 726.70 292.4 % 554.92 4703.2 %
Q2 2017 2,308.72 7.2 % 582.69 14.7 % 438.87 40.9 %
Q3 2017 2,703.09 16.9 % 780.94 34.7 % 624.02 61.8 %
Q4 2017 2,304.93 (5.9 %) 155.60 (70.7 %) 11.62 (96.7 %)
Q1 2018 2,727.33 2.3 % 861.63 18.6 % 721.07 29.9 %
Q2 2018 3,524.25 52.6 % 1,300.66 123.2 % 1,116.46 154.4 %
Q3 2018 3,376.06 24.9 % 929.49 19.0 % 761.53 22.0 %
Q4 2018 2,635.52 14.3 % 273.55 75.8 % 61.53 429.5 %
Q1 2019 2,544.34 (6.7 %) 265.99 (69.1 %) 98.49 (86.3 %)
Q2 2019 2,429.18 (31.1 %) 196.70 (84.9 %) 39.59 (96.5 %)
Q3 2019 2,303.21 (31.8 %) 379.59 (59.2 %) 201.23 (73.6 %)
Q4 2019 2,259.67 (14.3 %) 229.92 (15.9 %) 39.70 (35.5 %)
Q1 2020 1,887.93 (25.8 %) (220.77) (183.0 %) (350.93) (456.3 %)
Q2 2020 1,536.91 (36.7 %) (70.76) (136.0 %) (215.41) (644.1 %)
Q3 2020 2,105.54 (8.6 %) 236.53 (37.7 %) 79.72 (60.4 %)
Q4 2020 2,476.95 9.6 % 480.88 109.1 % 299.91 655.5 %
Q1 2021 2,683.33 42.1 % 757.71 443.2 % 593.12 269.0 %
Q2 2021 2,973.71 93.5 % 1,048.75 1582.2 % 901.23 518.4 %
Q3 2021 3,434.07 63.1 % 983.04 315.6 % 788.81 889.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
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
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
Q1 2015 (591.64) (6052.2 %) (0.39) - (591.64) (0.39)
Q2 2015 (13.42) 89.9 % (0.01) - (13.42) (0.01)
Q3 2015 (13.81) (120.6 %) (0.01) - (13.81) (0.01)
Q4 2015 (624.14) (5397.8 %) (0.42) - (624.14) (0.42)
Q1 2016 (194.99) 67.0 % (0.13) (22.64) (172.35) (0.11)
Q2 2016 97.31 825.1 % 0.06 (6.23) 103.54 0.07
Q3 2016 158.16 1245.6 % 0.11 - 158.16 0.11
Q4 2016 91.58 114.7 % 0.06 - 91.58 0.06
Q1 2017 265.46 236.1 % 0.18 (68.78) 334.24 0.22
Q2 2017 242.01 148.7 % 0.16 (1.75) 243.75 0.16
Q3 2017 381.03 140.9 % 0.25 (2.16) 383.19 0.26
Q4 2017 (220.32) (340.6 %) (0.15) (4.13) (216.20) (0.14)
Q1 2018 462.58 74.3 % 0.31 (23.51) 486.09 0.32
Q2 2018 878.66 263.1 % 0.59 (1.33) 879.99 0.59
Q3 2018 471.91 23.8 % 0.31 - 471.91 0.31
Q4 2018 (110.90) 49.7 % (0.07) - (110.90) (0.07)
Q1 2019 (197.49) (142.7 %) (0.13) - (197.49) (0.13)
Q2 2019 (273.13) (131.1 %) (0.18) - (273.13) (0.18)
Q3 2019 1.26 (99.7 %) 0.00 - 1.26 0.00
Q4 2019 (167.41) (51.0 %) (0.11) - (167.41) (0.11)
Q1 2020 (516.79) (161.7 %) (0.34) - (516.79) (0.34)
Q2 2020 (398.19) (45.8 %) (0.27) - (398.19) (0.27)
Q3 2020 (28.16) (2342.1 %) (0.02) - (28.16) (0.02)
Q4 2020 158.42 194.6 % 0.11 (34.93) 193.35 0.13
Q1 2021 492.89 195.4 % 0.33 - 492.89 0.33
Q2 2021 781.00 296.1 % 0.52 - 781.00 0.52
Q3 2021 667.45 2470.1 % 0.44 - 667.45 0.44

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %)
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 %)
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 %)
Q1 2015 3.29 % 22.85 % (6.16 %)
Q2 2015 4.92 % 26.19 % (5.45 %)
Q3 2015 4.95 % 28.93 % (7.04 %)
Q4 2015 (2.62 %) 23.62 % (15.58 %)
Q1 2016 4.35 % 28.35 % (10.41 %)
Q2 2016 7.50 % 29.78 % (8.92 %)
Q3 2016 11.26 % 31.82 % (6.65 %)
Q4 2016 20.97 % 39.26 % 2.10 %
Q1 2017 24.49 % 41.16 % 7.17 %
Q2 2017 24.87 % 41.90 % 8.50 %
Q3 2017 25.89 % 42.76 % 10.39 %
Q4 2017 22.50 % 39.48 % 7.46 %
Q1 2018 23.70 % 40.57 % 8.93 %
Q2 2018 27.52 % 42.11 % 13.62 %
Q3 2018 27.21 % 40.68 % 13.59 %
Q4 2018 27.44 % 40.23 % 14.08 %
Q1 2019 22.93 % 35.96 % 8.64 %
Q2 2019 15.16 % 29.92 % (1.00 %)
Q3 2019 11.26 % 27.64 % (5.85 %)
Q4 2019 11.24 % 28.50 % (6.68 %)
Q1 2020 6.59 % 25.47 % (10.77 %)
Q2 2020 3.98 % 24.94 % (13.54 %)
Q3 2020 2.25 % 23.88 % (14.26 %)
Q4 2020 5.32 % 27.22 % (9.36 %)
Q1 2021 15.95 % 35.84 % 2.95 %
Q2 2021 24.65 % 41.94 % 14.05 %
Q3 2021 28.27 % 43.47 % 18.45 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q1 2015 1,500.00 (0.43) (0.43) 8.97
Q2 2015 1,500.00 (0.35) (0.35) 8.96
Q3 2015 1,500.00 (0.40) (0.40) 8.95
Q4 2015 1,500.00 (0.83) (0.83) 8.54
Q1 2016 1,500.00 (0.56) (0.55) 8.58
Q2 2016 1,500.00 (0.49) (0.47) 8.45
Q3 2016 1,500.00 (0.38) (0.36) 8.56
Q4 2016 1,500.00 0.10 0.12 8.83
Q1 2017 1,500.00 0.41 0.46 9.01
Q2 2017 1,500.00 0.50 0.55 9.17
Q3 2017 1,500.00 0.65 0.70 9.42
Q4 2017 1,500.00 0.45 0.50 9.27
Q1 2018 1,500.00 0.58 0.60 9.60
Q2 2018 1,500.00 1.00 1.02 10.18
Q3 2018 1,500.00 1.06 1.08 10.50
Q4 2018 1,500.00 1.13 1.15 10.47
Q1 2019 1,500.00 0.69 0.70 10.32
Q2 2019 1,500.00 (0.07) (0.07) 10.13
Q3 2019 1,500.00 (0.39) (0.39) 10.08
Q4 2019 1,500.00 (0.42) (0.42) 9.97
Q1 2020 1,500.00 (0.64) (0.64) 9.62
Q2 2020 1,500.00 (0.72) (0.72) 9.33
Q3 2020 1,500.00 (0.74) (0.74) 9.30
Q4 2020 1,500.00 (0.52) (0.50) 9.34
Q1 2021 1,500.00 0.15 0.17 9.71
Q2 2021 1,500.00 0.94 0.96 10.21
Q3 2021 1,500.00 1.40 1.42 10.65

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2015 NEG NEG 1.20
Q2 2015 NEG NEG 1.20
Q3 2015 NEG NEG 0.93
Q4 2015 NEG NEG 0.79
Q1 2016 NEG NEG 0.59
Q2 2016 NEG NEG 0.77
Q3 2016 NEG NEG 0.63
Q4 2016 87.20 73.29 1.00
Q1 2017 19.42 17.30 0.88
Q2 2017 17.45 15.97 0.96
Q3 2017 13.82 12.87 0.96
Q4 2017 23.98 21.50 1.15
Q1 2018 23.71 22.88 1.43
Q2 2018 15.76 15.44 1.55
Q3 2018 15.90 15.61 1.61
Q4 2018 11.63 11.46 1.26
Q1 2019 20.24 20.21 1.36
Q2 2019 NEG NEG 1.21
Q3 2019 NEG NEG 1.01
Q4 2019 NEG NEG 1.11
Q1 2020 NEG NEG 0.75
Q2 2020 NEG NEG 0.88
Q3 2020 NEG NEG 1.26
Q4 2020 NEG NEG 1.53
Q1 2021 More than 100 92.00 1.64
Q2 2021 19.29 18.82 1.77
Q3 2021 14.66 14.42 1.93

Analysts Estimates (Million)

Item Q3 2021 (e) Q3 2021 (a) Change‬
Average 628.90 667.45 6.13 %

Estimates vs Actual (Million)

Item Q3 2021 (e) Q3 2021 (a) Change
Riyad Capital 678.00 667.45 (1.6) %
OSOOL AND BAKHEET 638.50 667.45 4.5 %
AlJazira Capital 619.00 667.45 7.8 %
SNB Capital 617.00 667.45 8.2 %
Arqaam Capital 592.00 667.45 12.7 %

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 )

Share Price

6.87
(0.03) (0.43 %)

Saudi Kayan Petrochemical Co. (SAUDI KAYAN)


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.