Petro Rabigh deepens 9M 2024 net loss to SAR 3.77B; Q3 at SAR 1.3B

10/11/2024 Argaam Exclusive

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Rabigh Refining and Petrochemical Co.’s (Petro Rabigh) net losses deepened in the first nine months of 2024 to SAR 3.77 billion, compared to SAR 3.31 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	34,309.76	27,952.00	(18.5 %)
Gross Income	(19.67)	(1103.00)	(5,508.9 %)
Operating Income	(1816.00)	(2246.00)	(23.7 %)
Net Income	(3305.24)	(3765.00)	(13.9 %)
Average Shares	1,671.00	1,671.00	-
EPS (Riyals)	(1.98)	(2.25)	(13.9 %)

The wider losses were attributed to lower sales volumes of refined and petrochemical products, pressured by challenging market conditions and declining prices. This is besides the unscheduled shutdown of the High Olefins Fluid Catalytic Cracking (HOFCC) unit in Q1 2024 for repairs and maintenance, which further squeezed sales.

Additionally, margins on refined and petrochemical products weakened year-on-year (YoY), while costs rose for ethane, diesel fuel, and sales gas starting January 2024, given the soaring freight costs due to disruptions in Red Sea shipping routes. The nine-month period also saw a YoY rise in financing costs (FCs) amid higher interest rates.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	12,647.46	9,957.00	(21.3 %)
Gross Income	309.97	(451.00)	(245.5 %)
Operating Income	(594.00)	(886.00)	(49.2 %)
Net Income	(1145.08)	(1300.00)	(13.5 %)
Average Shares	1,671.00	1,671.00	-
EPS (Riyals)	(0.69)	(0.78)	(13.5 %)

Item	Q2 2024	Q3 2024	Change‬
Revenues	10,010.92	9,957.00	(0.5 %)
Gross Income	(147.40)	(451.00)	(206.0 %)
Operating Income	(530.00)	(886.00)	(67.2 %)
Net Income	(1100.00)	(1300.00)	(18.2 %)
Average Shares	1,671.00	1,671.00	-
EPS (Riyals)	(0.66)	(0.78)	(18.2 %)

In Q3 2024, net losses deepened by 13.5% YoY to SAR 1.3 billion, from SAR 1.14 billion in Q3 2023. This was due to lower sales on reduced sales volumes and prices of refined products amid tough market conditions and price declines.

Weaker profit margins on refined and petrochemical products, rising costs for ethane, diesel fuel, and sales gas from January 2024, alongside the elevated freight costs on the ongoing Red Sea disruptions, also impacted the third-quarter performance. However, FCs fell in Q3 2024 due to a partial waiver of shareholder loan facilities during the three-month period.

On a quarterly basis, losses widened from SAR 1.1 billion in Q2 2024 as revenues also tumbled quarter-on-quarter (QoQ) on lower sales amid declining refined product prices and weaker product margins. This was partly offset by reduced FCs, driven by a partial waiver of shareholder loan facilities.

Total shareholders’ equity, no minority interest, stood at SAR 10.58 billion by Sept. 30, 2024, compared to SAR 11.95 billion in the prior-year period.

By the end of the nine-month period, accumulated losses amounted to SAR 6.38 billion, representing 38.16% of capital.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %)
Q1 2023	10,980.50	(23.8 %)	(127.61)	(108.6 %)	(534.63)	(150.9 %)
Q2 2023	10,681.80	(41.0 %)	(202.03)	(110.0 %)	(717.69)	(147.0 %)
Q3 2023	12,647.46	0.0 %	309.97	140.2 %	(594.00)	49.4 %
Q4 2023	10,294.23	(4.7 %)	(558.83)	46.5 %	(822.98)	44.9 %
2023	44,603.99	(20.3 %)	(578.50)	(134.4 %)	(2329.77)	(2,519.6 %)
Q1 2024	7,983.99	(27.3 %)	(505.02)	(295.8 %)	(867.66)	(62.3 %)
Q2 2024	10,010.92	(6.3 %)	(147.40)	27.0 %	(530.00)	26.2 %
Q3 2024	9,957.00	(21.3 %)	(451.00)	(245.5 %)	(886.00)	(49.2 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %)
2023	44,603.99	(20.3 %)	(578.50)	(134.4 %)	(2329.77)	(2,519.6 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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)
Q1 2023	(964.11)	(233.0 %)	(0.58)	-	(964.11)	(0.58)
Q2 2023	(1196.05)	(186.4 %)	(0.72)	-	(1196.05)	(0.72)
Q3 2023	(1145.08)	19.0 %	(0.69)	(365.70)	(779.38)	(0.47)
Q4 2023	(1387.49)	23.4 %	(0.83)	-	(1387.49)	(0.83)
2023	(4692.73)	(320.9 %)	(2.81)	(365.70)	(4327.03)	(2.59)
Q1 2024	(1365.01)	(41.6 %)	(0.82)	-	(1365.01)	(0.82)
Q2 2024	(1100.00)	8.0 %	(0.66)	-	(1100.00)	(0.66)
Q3 2024	(1300.00)	(13.5 %)	(0.78)	-	(1300.00)	(0.78)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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)
2023	(4692.73)	(320.9 %)	(2.81)	(365.70)	(4327.03)	(2.59)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %)
Q1 2023	0.14 %	2.66 %	(5.79 %)
Q2 2023	(4.76 %)	(1.75 %)	(11.94 %)
Q3 2023	(2.36 %)	(0.35 %)	(10.53 %)
Q4 2023	(1.30 %)	1.24 %	(9.70 %)
2023	(1.30 %)	2.00 %	(9.70 %)
Q1 2024	(2.30 %)	0.56 %	(11.36 %)
Q2 2024	(2.20 %)	0.99 %	(11.31 %)
Q3 2024	(4.35 %)	-	(13.47 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %)
2023	(1.30 %)	2.00 %	(9.70 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %)
Q1 2023	(1.16 %)	2.30 %	(8.78 %)
Q2 2023	(1.89 %)	0.93 %	(11.20 %)
Q3 2023	2.45 %	1.72 %	(6.16 %)
Q4 2023	(5.43 %)	(0.17 %)	(13.48 %)
Q1 2024	(6.33 %)	(0.81 %)	(17.10 %)
Q2 2024	(1.47 %)	2.68 %	(10.99 %)
Q3 2024	(4.53 %)	-	(13.06 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q1 2023	1,671.00	(1.68)	(1.82)	8.55
Q2 2023	1,671.00	(3.22)	(3.22)	7.84
Q3 2023	1,671.00	(3.06)	(2.84)	7.15
Q4 2023	1,671.00	(2.81)	(2.59)	6.31
Q1 2024	1,671.00	(3.05)	(2.83)	5.50
Q2 2024	1,671.00	(2.99)	(2.77)	4.84
Q3 2024	1,671.00	(3.08)	(3.08)	6.33

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
2023	1,671.00	(2.81)	(2.59)	6.31

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q1 2023	NEG	NEG	1.18
Q2 2023	NEG	NEG	1.47
Q3 2023	NEG	NEG	1.52
Q4 2023	NEG	NEG	1.64
Q1 2024	NEG	NEG	1.37
Q2 2024	NEG	NEG	1.38
Q3 2024	NEG	NEG	1.30

Period	P/E	Adjusted P/E	Price/book
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
2023	NEG	NEG	1.64

Business Segments (Million)

Compared With The

Period	Refined products	Petrochemical products
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
Q1 2023	8,710.13	2,270.37
Q2 2023	7,141.51	3,540.30
Q3 2023	9,309.08	3,338.37
Q4 2023	7,092.87	3,201.37
Q1 2024	5,766.51	2,217.48
Q2 2024	7,281.05	2,729.87
Q3 2024	6,765.79	3,191.32

Period	Refined products	Petrochemical products
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
2023	32,253.59	12,350.41

Financial Ratios

	Current
Market Cap (M Riyal)	14,036.40
Enterprise Value (EV) (M)	42,320.98
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	1.33
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 deepens 9M 2024 net loss to SAR 3.77B; Q3 at SAR 1.3B

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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) 2024 Q3

Financial Ratios

Share Price

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

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Petro Rabigh deepens 9M 2024 net loss to SAR 3.77B; Q3 at SAR 1.3B

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) Q3 2024

Revenue by Business Segment (Latest) 2024 Q3

Financial Ratios

Share Price

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

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Business Segments (Million)