Petro Rabigh swings to losses of SAR 1.11 bln in 2022; Q4 loss at 1.81 bln

14/03/2023 Argaam Exclusive

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Rabigh Refining and Petrochemical Co. (Petro Rabigh) reported a net loss of SAR 1.11 billion for 2022, compared to a net profit of SAR 2.03 billion in 2021.

Financials (M)

Item	2021	2022	Change‬
Revenues	45,638.07	55,952.48	22.6 %
Gross Income	4,756.49	1,683.73	(64.6 %)
Operating Income	3,040.43	(88.94)	(102.9 %)
Net Income	2,036.66	(1114.88)	(154.7 %)
Average Shares	1,250.63	1,671.00	33.6 %
EPS (Riyals)	1.63	(0.67)	(141.0 %)

The losses were driven mainly due to unfavorable market conditions adversely affecting product volumes and margins for the petrochemical products. In addition, there was a significant negative margin on certain refined products, particularly high-sulphur fuel oil and naphtha during H2 2022.

Furthermore, Petro Rabigh complex was partially shut down for scheduled turnaround of its phase II units from Dec. 1, 2022, to Jan. 23, 2023. Meanwhile, the year witnessed a sharp increase in interest rates, which resulted in higher financial costs for 2022 compared to 2021.

The company turned to a net loss of SAR 1.81 billion in Q4 2022, against a net profit of SAR 449.24 million a year before.

On a sequential basis, the company widened its losses from SAR 1.41 billion in Q3 2022.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	13,116.29	10,805.99	(17.6 %)
Gross Income	1,167.68	(1045.15)	(189.5 %)
Operating Income	670.11	(1492.86)	(322.8 %)
Net Income	448.90	(1810.92)	(503.4 %)
Average Shares	1,250.63	1,671.00	33.6 %
EPS (Riyals)	0.36	(1.08)	(401.9 %)

Item	Q3 2022	Q4 2022	Change‬
Revenues	12,644.86	10,805.99	(14.5 %)
Gross Income	(771.96)	(1045.15)	(35.4 %)
Operating Income	(1174.26)	(1492.86)	(27.1 %)
Net Income	(1413.45)	(1810.92)	(28.1 %)
Average Shares	1,671.00	1,671.00	-
EPS (Riyals)	(0.85)	(1.08)	(28.1 %)

Total shareholders’ equity, no minority interest, reached SAR 15.25 billion as of Dec. 31, 2022, compared with SAR 8.30 billion a year earlier.

The accumulated losses reached SAR 1.70 billion at the end of 2022, representing 10.19% of the company's capital.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2013	10,189.36	(36.3 %)	(449.51)	(217.8 %)	(628.46)	(515.1 %)
Q2 2013	14,195.60	(4.4 %)	(6.50)	(103.8 %)	(210.91)	(239.1 %)
Q3 2013	12,539.61	(19.1 %)	201.93	(68.7 %)	27.94	(93.9 %)
Q4 2013	13,673.13	(12.7 %)	715.18	116.6 %	498.43	380.2 %
2013	50,597.71	(18.4 %)	461.09	(69.8 %)	(313.01)	(147.9 %)
Q1 2014	14,235.50	39.7 %	672.14	249.5 %	416.31	166.2 %
Q2 2014	14,040.48	(1.1 %)	446.38	6968.4 %	192.36	191.2 %
Q3 2014	14,814.36	18.1 %	558.23	176.4 %	306.15	995.8 %
Q4 2014	11,146.41	(18.5 %)	48.49	(93.2 %)	(181.08)	(136.3 %)
2014	54,236.75	7.2 %	1,725.24	274.2 %	733.74	334.4 %
Q1 2015	7,648.01	(46.3 %)	577.44	(14.1 %)	225.34	(45.9 %)
Q2 2015	8,495.54	(39.5 %)	740.32	65.9 %	493.77	156.7 %
Q3 2015	6,674.60	(54.9 %)	(250.09)	(144.8 %)	(463.33)	(251.3 %)
Q4 2015	2,695.71	(75.8 %)	(772.34)	(1692.7 %)	(1015.87)	(461.0 %)
2015	25,513.86	(53.0 %)	295.33	(82.9 %)	(760.10)	(203.6 %)
Q1 2016	4,947.26	(35.3 %)	221.46	(61.6 %)	(9.53)	(104.2 %)
Q2 2016	6,335.74	(25.4 %)	400.82	(45.9 %)	115.95	(76.5 %)
Q3 2016	6,375.62	(4.5 %)	25.03	110.0 %	(201.43)	56.5 %
Q4 2016	7,487.51	177.8 %	460.12	159.6 %	217.56	121.4 %
2016	25,146.13	(1.4 %)	1,107.43	275.0 %	122.57	116.1 %
Q1 2017	6,702.23	35.5 %	65.14	(70.6 %)	(172.65)	(1,711.3 %)
Q2 2017	8,843.80	39.6 %	634.67	58.3 %	392.70	238.7 %
Q3 2017	9,141.32	43.4 %	1,101.80	4301.9 %	809.76	502.0 %
Q4 2017	9,523.67	27.2 %	894.42	94.4 %	623.16	186.4 %
2017	34,211.01	36.0 %	2,696.02	143.4 %	1,652.95	1248.6 %
Q1 2018	9,856.35	47.1 %	772.06	1085.3 %	377.56	318.7 %
Q2 2018	10,742.81	21.5 %	664.18	4.6 %	297.20	(24.3 %)
Q3 2018	12,041.25	31.7 %	607.50	(44.9 %)	343.71	(57.6 %)
Q4 2018	8,357.79	(12.2 %)	271.31	(69.7 %)	(91.05)	(114.6 %)
2018	40,998.19	19.8 %	2,315.04	(14.1 %)	927.42	(43.9 %)
Q1 2019	8,428.02	(14.5 %)	817.68	5.9 %	460.79	22.0 %
Q2 2019	9,031.62	(15.9 %)	290.65	(56.2 %)	(55.00)	(118.5 %)
Q3 2019	8,742.11	(27.4 %)	870.60	43.3 %	595.98	73.4 %
Q4 2019	7,860.24	(6.0 %)	(261.02)	(196.2 %)	(650.58)	(614.5 %)
2019	34,061.98	(16.9 %)	1,717.91	(25.8 %)	351.19	(62.1 %)
Q1 2020	4,061.63	(51.8 %)	(1385.50)	(269.4 %)	(1714.55)	(472.1 %)
Q2 2020	2,706.39	(70.0 %)	(453.08)	(255.9 %)	(788.61)	(1,333.8 %)
Q3 2020	7,051.72	(19.3 %)	133.19	(84.7 %)	(303.97)	(151.0 %)
Q4 2020	8,050.46	2.4 %	802.78	407.6 %	315.69	148.5 %
2020	21,870.20	(35.8 %)	(902.61)	(152.5 %)	(2491.45)	(809.4 %)
Q1 2021	10,135.53	149.5 %	1,286.33	192.8 %	912.88	153.2 %
Q2 2021	11,109.27	310.5 %	1,367.05	401.7 %	989.49	225.5 %
Q3 2021	11,276.98	59.9 %	935.43	602.3 %	467.94	253.9 %
Q4 2021	13,116.29	62.9 %	1,167.68	45.5 %	670.11	112.3 %
2021	45,638.07	108.7 %	4,756.49	627.0 %	3,040.43	222.0 %
Q1 2022	14,401.62	42.1 %	1,480.26	15.1 %	1,051.21	15.2 %
Q2 2022	18,100.01	62.9 %	2,020.58	47.8 %	1,526.98	54.3 %
Q3 2022	12,644.86	12.1 %	(771.96)	(182.5 %)	(1174.26)	(350.9 %)
Q4 2022	10,805.99	(17.6 %)	(1045.15)	(189.5 %)	(1492.86)	(322.8 %)
2022	55,952.48	22.6 %	1,683.73	(64.6 %)	(88.94)	(102.9 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	50,597.71	(18.4 %)	461.09	(69.8 %)	(313.01)	(147.9 %)
2014	54,236.75	7.2 %	1,725.24	274.2 %	733.74	334.4 %
2015	25,513.86	(53.0 %)	295.33	(82.9 %)	(760.10)	(203.6 %)
2016	25,146.13	(1.4 %)	1,107.43	275.0 %	122.57	116.1 %
2017	34,211.01	36.0 %	2,696.02	143.4 %	1,652.95	1248.6 %
2018	40,998.19	19.8 %	2,315.04	(14.1 %)	927.42	(43.9 %)
2019	34,061.98	(16.9 %)	1,717.91	(25.8 %)	351.19	(62.1 %)
2020	21,870.20	(35.8 %)	(902.61)	(152.5 %)	(2491.45)	(809.4 %)
2021	45,638.07	108.7 %	4,756.49	627.0 %	3,040.43	222.0 %
2022	55,952.48	22.6 %	1,683.73	(64.6 %)	(88.94)	(102.9 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	(658.06)	(668.1 %)	(0.53)	-	(658.06)	(0.53)
Q2 2013	(236.70)	(126.8 %)	(0.19)	-	(236.70)	(0.19)
Q3 2013	14.03	(96.6 %)	0.01	-	14.03	0.01
Q4 2013	1,239.91	1721.5 %	0.99	750.00	489.91	0.39
2013	359.18	(26.5 %)	0.29	750.00	(390.82)	(0.31)
Q1 2014	413.05	162.8 %	0.33	-	413.05	0.33
Q2 2014	171.98	172.7 %	0.14	-	171.98	0.14
Q3 2014	294.33	1997.6 %	0.24	-	294.33	0.24
Q4 2014	(197.92)	(116.0 %)	(0.16)	-	(197.92)	(0.16)
2014	681.43	89.7 %	0.54	-	681.43	0.54
Q1 2015	205.43	(50.3 %)	0.16	-	205.43	0.16
Q2 2015	504.92	193.6 %	0.40	-	504.92	0.40
Q3 2015	(460.12)	(256.3 %)	(0.37)	-	(460.12)	(0.37)
Q4 2015	(1008.73)	(409.7 %)	(0.81)	-	(1008.73)	(0.81)
2015	(758.51)	(211.3 %)	(0.61)	-	(758.51)	(0.61)
Q1 2016	(36.64)	(117.8 %)	(0.03)	-	(36.64)	(0.03)
Q2 2016	101.00	(80.0 %)	0.08	-	101.00	0.08
Q3 2016	(210.55)	54.2 %	(0.17)	-	(210.55)	(0.17)
Q4 2016	180.98	117.9 %	0.14	-	180.98	0.14
2016	34.78	104.6 %	0.03	-	34.78	0.03
Q1 2017	(239.69)	(554.2 %)	(0.19)	-	(239.69)	(0.19)
Q2 2017	315.66	212.6 %	0.25	-	315.66	0.25
Q3 2017	706.47	435.5 %	0.56	-	706.47	0.56
Q4 2017	640.54	253.9 %	0.51	-	640.54	0.51
2017	1,422.98	3991.1 %	1.14	-	1,422.98	1.14
Q1 2018	296.15	223.6 %	0.24	-	296.15	0.24
Q2 2018	234.50	(25.7 %)	0.19	-	234.50	0.19
Q3 2018	243.44	(65.5 %)	0.19	-	243.44	0.19
Q4 2018	(105.53)	(116.5 %)	(0.08)	-	(105.53)	(0.08)
2018	668.56	(53.0 %)	0.53	-	668.56	0.53
Q1 2019	256.84	(13.3 %)	0.21	-	256.84	0.21
Q2 2019	(308.45)	(231.5 %)	(0.25)	-	(308.45)	(0.25)
Q3 2019	394.17	61.9 %	0.32	-	394.17	0.32
Q4 2019	(886.71)	(740.3 %)	(0.71)	-	(886.71)	(0.71)
2019	(544.15)	(181.4 %)	(0.44)	-	(544.15)	(0.44)
Q1 2020	(1796.83)	(799.6 %)	(1.44)	-	(1796.83)	(1.44)
Q2 2020	(1435.09)	(365.3 %)	(1.15)	-	(1435.09)	(1.15)
Q3 2020	(609.80)	(254.7 %)	(0.49)	-	(609.80)	(0.49)
Q4 2020	60.61	106.8 %	0.05	-	60.61	0.05
2020	(3781.13)	(594.9 %)	(3.02)	-	(3781.13)	(3.02)
Q1 2021	649.37	136.1 %	0.52	-	649.37	0.52
Q2 2021	716.94	150.0 %	0.57	-	716.94	0.57
Q3 2021	221.45	136.3 %	0.18	-	221.45	0.18
Q4 2021	448.90	640.6 %	0.36	-	448.90	0.36
2021	2,036.66	153.9 %	1.63	-	2,036.66	1.63
Q1 2022	724.76	11.6 %	0.58	-	724.76	0.58
Q2 2022	1,384.73	93.1 %	1.11	236.25	1,148.48	0.92
Q3 2022	(1413.45)	(738.3 %)	(0.85)	-	(1413.45)	(0.85)
Q4 2022	(1810.92)	(503.4 %)	(1.08)	-	(1810.92)	(1.08)
2022	(1114.88)	(154.7 %)	(0.67)	236.25	(1351.13)	(0.81)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	359.18	(26.5 %)	0.29	750.00	(390.82)	(0.31)
2014	681.43	89.7 %	0.54	-	681.43	0.54
2015	(758.51)	(211.3 %)	(0.61)	-	(758.51)	(0.61)
2016	34.78	104.6 %	0.03	-	34.78	0.03
2017	1,422.98	3991.1 %	1.14	-	1,422.98	1.14
2018	668.56	(53.0 %)	0.53	-	668.56	0.53
2019	(544.15)	(181.4 %)	(0.44)	-	(544.15)	(0.44)
2020	(3781.13)	(594.9 %)	(3.02)	-	(3781.13)	(3.02)
2021	2,036.66	153.9 %	1.63	-	2,036.66	1.63
2022	(1114.88)	(154.7 %)	(0.67)	236.25	(1351.13)	(0.81)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	1.24 %	3.66 %	(0.51 %)
Q2 2013	0.93 %	3.43 %	(0.75 %)
Q3 2013	0.14 %	2.80 %	(1.55 %)
Q4 2013	0.91 %	3.72 %	(0.77 %)
2013	0.91 %	3.72 %	(0.77 %)
Q1 2014	2.90 %	5.38 %	1.24 %
Q2 2014	3.74 %	6.20 %	2.00 %
Q3 2014	4.21 %	6.49 %	2.41 %
Q4 2014	3.18 %	5.56 %	1.26 %
2014	3.18 %	5.56 %	1.26 %
Q1 2015	3.42 %	5.94 %	0.99 %
Q2 2015	4.57 %	7.40 %	1.92 %
Q3 2015	3.29 %	6.76 %	0.15 %
Q4 2015	1.16 %	5.55 %	(2.97 %)
2015	1.16 %	5.55 %	(2.97 %)
Q1 2016	(0.27 %)	5.38 %	(4.39 %)
Q2 2016	(1.94 %)	4.26 %	(6.80 %)
Q3 2016	(0.61 %)	5.96 %	(5.67 %)
Q4 2016	4.40 %	10.11 %	0.14 %
2016	4.40 %	10.11 %	0.14 %
Q1 2017	3.54 %	8.81 %	(0.63 %)
Q2 2017	4.03 %	9.05 %	0.16 %
Q3 2017	7.03 %	11.47 %	2.99 %
Q4 2017	7.88 %	11.97 %	4.16 %
2017	7.88 %	11.97 %	4.16 %
Q1 2018	9.11 %	12.46 %	5.24 %
Q2 2018	8.74 %	11.61 %	4.78 %
Q3 2018	6.97 %	9.69 %	3.36 %
Q4 2018	5.65 %	8.20 %	1.63 %
2018	5.65 %	8.20 %	1.63 %
Q1 2019	5.97 %	8.57 %	1.59 %
Q2 2019	5.25 %	7.92 %	0.23 %
Q3 2019	6.51 %	9.27 %	0.69 %
Q4 2019	5.04 %	8.05 %	(1.60 %)
2019	5.04 %	8.05 %	(1.60 %)
Q1 2020	(1.63 %)	2.47 %	(8.75 %)
Q2 2020	(5.26 %)	1.02 %	(15.94 %)
Q3 2020	(9.07 %)	(1.80 %)	(21.81 %)
Q4 2020	(4.13 %)	3.21 %	(17.29 %)
2020	(4.13 %)	3.21 %	(17.29 %)
Q1 2021	6.33 %	12.28 %	(4.78 %)
Q2 2021	9.88 %	14.42 %	2.25 %
Q3 2021	10.82 %	14.65 %	4.06 %
Q4 2021	10.42 %	13.64 %	4.46 %
2021	10.42 %	13.64 %	4.46 %
Q1 2022	9.92 %	12.60 %	4.23 %
Q2 2022	9.85 %	11.86 %	4.47 %
Q3 2022	6.69 %	8.76 %	1.56 %
Q4 2022	3.01 %	5.27 %	(2.41 %)
2022	3.01 %	5.27 %	(2.41 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	0.91 %	3.72 %	(0.77 %)
2014	3.18 %	5.56 %	1.26 %
2015	1.16 %	5.55 %	(2.97 %)
2016	4.40 %	10.11 %	0.14 %
2017	7.88 %	11.97 %	4.16 %
2018	5.65 %	8.20 %	1.63 %
2019	5.04 %	8.05 %	(1.60 %)
2020	(4.13 %)	3.21 %	(17.29 %)
2021	10.42 %	13.64 %	4.46 %
2022	3.01 %	5.27 %	(2.41 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	(4.41 %)	(0.81 %)	(6.46 %)
Q2 2013	(0.05 %)	2.36 %	(1.67 %)
Q3 2013	1.61 %	4.57 %	0.11 %
Q4 2013	5.23 %	7.74 %	3.58 %
Q1 2014	4.72 %	6.85 %	2.90 %
Q2 2014	3.18 %	5.49 %	1.22 %
Q3 2014	3.77 %	5.92 %	1.99 %
Q4 2014	0.44 %	3.50 %	(1.78 %)
Q1 2015	7.55 %	10.34 %	2.69 %
Q2 2015	8.71 %	12.42 %	5.94 %
Q3 2015	(3.75 %)	0.91 %	(6.89 %)
Q4 2015	(28.65 %)	(18.25 %)	(37.42 %)
Q1 2016	4.48 %	12.20 %	(0.74 %)
Q2 2016	6.33 %	11.18 %	1.59 %
Q3 2016	0.39 %	6.16 %	(3.30 %)
Q4 2016	6.15 %	11.19 %	2.42 %
Q1 2017	0.97 %	6.44 %	(3.58 %)
Q2 2017	7.18 %	11.30 %	3.57 %
Q3 2017	12.05 %	15.56 %	7.73 %
Q4 2017	9.39 %	13.03 %	6.73 %
Q1 2018	7.83 %	10.08 %	3.00 %
Q2 2018	6.18 %	8.40 %	2.18 %
Q3 2018	5.05 %	7.88 %	2.02 %
Q4 2018	3.25 %	6.16 %	(1.26 %)
Q1 2019	9.70 %	12.15 %	3.05 %
Q2 2019	3.22 %	5.63 %	(3.42 %)
Q3 2019	9.96 %	13.22 %	4.51 %
Q4 2019	(3.32 %)	0.69 %	(11.28 %)
Q1 2020	(34.11 %)	(24.25 %)	(44.24 %)
Q2 2020	(16.74 %)	0.46 %	(53.03 %)
Q3 2020	1.89 %	7.49 %	(8.65 %)
Q4 2020	9.97 %	14.25 %	0.75 %
Q1 2021	12.69 %	17.19 %	6.41 %
Q2 2021	12.31 %	16.43 %	6.45 %
Q3 2021	8.30 %	10.91 %	1.96 %
Q4 2021	8.90 %	10.89 %	3.42 %
Q1 2022	10.28 %	12.53 %	5.03 %
Q2 2022	11.16 %	12.63 %	6.35 %
Q3 2022	(6.10 %)	(3.28 %)	(11.18 %)
Q4 2022	(9.67 %)	(6.71 %)	(16.76 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	1,250.63	(0.23)	(0.23)	6.32
Q2 2013	1,250.63	(0.33)	(0.33)	6.13
Q3 2013	1,250.63	(0.65)	(0.65)	6.15
Q4 2013	1,250.63	0.29	(0.31)	7.13
Q1 2014	1,250.63	1.14	0.54	7.46
Q2 2014	1,250.63	1.47	0.87	7.59
Q3 2014	1,250.63	1.69	1.09	7.81
Q4 2014	1,250.63	0.54	0.54	7.64
Q1 2015	1,250.63	0.38	0.38	7.80
Q2 2015	1,250.63	0.65	0.65	8.20
Q3 2015	1,250.63	0.04	0.04	7.47
Q4 2015	1,250.63	(0.61)	(0.61)	6.68
Q1 2016	1,250.63	(0.80)	(0.80)	6.57
Q2 2016	1,250.63	(1.12)	(1.12)	6.66
Q3 2016	1,250.63	(0.92)	(0.92)	6.48
Q4 2016	1,250.63	0.03	0.03	6.71
Q1 2017	1,250.63	(0.13)	(0.13)	6.43
Q2 2017	1,250.63	0.04	0.04	6.71
Q3 2017	1,250.63	0.77	0.77	7.34
Q4 2017	1,250.63	1.14	1.14	8.06
Q1 2018	1,250.63	1.57	1.57	8.36
Q2 2018	1,250.63	1.50	1.50	8.26
Q3 2018	1,250.63	1.13	1.13	8.51
Q4 2018	1,250.63	0.53	0.53	8.43
Q1 2019	1,250.63	0.50	0.50	8.68
Q2 2019	1,250.63	0.07	0.07	8.51
Q3 2019	1,250.63	0.19	0.19	8.88
Q4 2019	1,250.63	(0.44)	(0.44)	8.03
Q1 2020	1,250.63	(2.08)	(2.08)	6.59
Q2 2020	1,250.63	(2.98)	(2.98)	5.44
Q3 2020	1,250.63	(3.78)	(3.78)	4.96
Q4 2020	1,250.63	(3.02)	(3.02)	4.96
Q1 2021	1,250.63	(1.07)	(1.07)	5.48
Q2 2021	1,250.63	0.65	0.65	6.07
Q3 2021	1,250.63	1.32	1.32	6.24
Q4 2021	1,250.63	1.63	1.63	6.64
Q1 2022	1,250.63	1.69	1.69	7.25
Q2 2022	1,250.63	2.22	2.03	8.41
Q3 2022	1,671.00	0.69	0.54	10.13
Q4 2022	1,671.00	(0.67)	(0.81)	9.13

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	1,250.63	0.29	(0.31)	7.13
2014	1,250.63	0.54	0.54	7.64
2015	1,250.63	(0.61)	(0.61)	6.68
2016	1,250.63	0.03	0.03	6.71
2017	1,250.63	1.14	1.14	8.06
2018	1,250.63	0.53	0.53	8.43
2019	1,250.63	(0.44)	(0.44)	8.03
2020	1,250.63	(3.02)	(3.02)	4.96
2021	1,250.63	1.63	1.63	6.64
2022	1,671.00	(0.67)	(0.81)	9.13

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	NEG	NEG	2.60
Q2 2013	NEG	NEG	2.42
Q3 2013	NEG	NEG	2.31
Q4 2013	79.05	NEG	3.18
Q1 2014	21.37	44.92	3.28
Q2 2014	19.67	33.21	3.81
Q3 2014	18.24	28.23	3.96
Q4 2014	31.19	31.19	2.22
Q1 2015	52.78	52.78	2.56
Q2 2015	30.59	30.59	2.41
Q3 2015	More than 100	More than 100	2.01
Q4 2015	NEG	NEG	1.72
Q1 2016	NEG	NEG	1.50
Q2 2016	NEG	NEG	1.62
Q3 2016	NEG	NEG	1.43
Q4 2016	More than 100	More than 100	1.64
Q1 2017	NEG	NEG	1.85
Q2 2017	More than 100	More than 100	1.59
Q3 2017	16.71	16.71	1.75
Q4 2017	13.53	13.53	1.91
Q1 2018	14.84	14.84	2.78
Q2 2018	17.68	17.68	3.21
Q3 2018	19.32	19.32	2.57
Q4 2018	33.42	33.42	2.12
Q1 2019	37.77	37.77	2.19
Q2 2019	More than 100	More than 100	2.29
Q3 2019	98.10	98.10	2.09
Q4 2019	NEG	NEG	2.53
Q1 2020	NEG	NEG	1.52
Q2 2020	NEG	NEG	2.31
Q3 2020	NEG	NEG	2.95
Q4 2020	NEG	NEG	2.61
Q1 2021	NEG	NEG	2.88
Q2 2021	33.67	33.67	3.63
Q3 2021	19.89	19.89	4.20
Q4 2021	11.90	11.90	2.92
Q1 2022	15.66	15.66	3.65
Q2 2022	10.26	11.21	2.71
Q3 2022	20.02	25.23	1.35
Q4 2022	NEG	NEG	1.17

Period	P/E	Adjusted P/E	Price/book
2013	79.05	NEG	3.18
2014	31.19	31.19	2.22
2015	NEG	NEG	1.72
2016	More than 100	More than 100	1.64
2017	13.53	13.53	1.91
2018	33.42	33.42	2.12
2019	NEG	NEG	2.53
2020	NEG	NEG	2.61
2021	11.90	11.90	2.92
2022	NEG	NEG	1.17

Business Segments (Million)

Compared With The

Period	Refined products	Petrochemical products
Q1 2013	9,081.84	1,107.53
Q2 2013	12,300.99	1,894.61
Q3 2013	10,172.41	2,367.20
Q4 2013	11,310.72	2,362.41
Q1 2014	11,728.13	2,507.37
Q2 2014	11,627.12	2,413.36
Q3 2014	12,239.59	2,574.78
Q4 2014	8,501.53	2,644.88
Q1 2015	5,808.61	1,839.40
Q2 2015	6,508.04	1,987.50
Q3 2015	5,337.85	1,336.75
Q4 2015	1,846.11	849.60
Q1 2016	3,949.86	997.40
Q2 2016	4,609.96	1,725.79
Q3 2016	5,036.36	1,339.26
Q4 2016	5,827.73	1,659.77
Q1 2017	5,288.48	1,413.75
Q2 2017	6,781.72	2,062.09
Q3 2017	6,986.55	2,154.77
Q4 2017	7,180.40	2,343.26
Q1 2018	7,525.00	2,331.35
Q2 2018	8,067.19	2,675.62
Q3 2018	9,410.60	2,630.65
Q4 2018	6,444.51	1,913.28
Q1 2019	6,512.69	1,915.32
Q2 2019	7,046.58	1,985.04
Q3 2019	6,930.13	1,811.98
Q4 2019	5,387.40	2,472.84
Q1 2020	2,632.33	1,429.31
Q2 2020	1,726.85	979.54
Q3 2020	4,196.94	2,854.78
Q4 2020	4,657.58	3,392.88
Q1 2021	6,339.68	3,795.84
Q2 2021	6,401.95	4,707.33
Q3 2021	6,925.36	4,351.62
Q4 2021	8,258.98	4,857.30
Q1 2022	10,164.99	4,236.63
Q2 2022	13,303.70	4,796.32
Q3 2022	8,653.58	3,991.28
Q4 2022	8,453.80	2,352.19

Period	Refined products	Petrochemical products
2013	42,865.96	7,731.75
2014	44,096.36	10,140.39
2015	19,500.61	6,013.25
2016	19,423.91	5,722.22
2017	26,237.14	7,973.87
2018	31,447.30	9,550.89
2019	25,876.80	8,185.18
2020	13,213.70	8,656.50
2021	27,925.98	17,712.09
2022	40,576.07	15,376.42

Analysts Estimates (Million)

Item	Q4 2022 (e)	Q4 2022 (a)	Change‬
Average	(868.80)	(1810.92)	(108.4 %)

Estimates vs Actual (Million)

Item	Q4 2022 (e)	Q4 2022 (a)	Change
U-Capital	(868.80)	(1810.92)	(108.4) %

Financial Ratios

	Current
Market Cap (M Riyal)	14,153.37
Enterprise Value (EV) (M)	42,437.95
Shares Outstanding ((M))	1,671.00
EPS ( Riyal) (TTM)	(3.08)
Book Value (BV) ( Riyal)	6.33
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.34
Return on Average Assets (%) (TTM)	(8.04 )
Return on Average Equity (%) (TTM)	(45.74 )

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

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Petro Rabigh swings to losses of SAR 1.11 bln in 2022; Q4 loss at 1.81 bln

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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)

Revenue by Business Segment (Latest) 2022 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

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Petro Rabigh swings to losses of SAR 1.11 bln in 2022; Q4 loss at 1.81 bln

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

Business Segments (Million) Q4 2022

Revenue by Business Segment (Latest) 2022 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

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Business Segments (Million)