Tasnee Q1 2023 profit dips 73% to SAR 82.1 mln

07/05/2023 Argaam Exclusive

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National Industrialization Co. (Tasnee) reported a 73% slump in Q1 2023 net profit to SAR 82.1 million, from SAR 309 million in the year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2022	Q1 2023	Change‬
Revenues	979.18	888.69	(9.2 %)
Gross Income	288.15	115.04	(60.1 %)
Operating Income	143.29	(100.78)	(170.3 %)
Net Income	308.96	82.09	(73.4 %)
Average Shares	668.91	668.91	-
EPS (Riyals)	0.46	0.12	(73.4 %)

Item	Q4 2022	Q1 2023	Change‬
Revenues	939.45	888.69	(5.4 %)
Gross Income	186.89	115.04	(38.4 %)
Operating Income	(99.40)	(100.78)	(1.4 %)
Net Income	43.14	82.09	90.3 %
Average Shares	668.91	668.91	-
EPS (Riyals)	0.06	0.12	90.3 %

The company was hurt by lower average selling prices of most products, which lowered revenue and Tasnee’s profit share from associates and joint ventures (JVs). The company also reported higher cost of sales and impairment of financial assets, despite an increase in the sales volume of certain products, higher other income and lower net finance costs.

Tasnee’s first-quarter net profit surged 90.3% from SAR 43.14 million in Q4 2022, thanks to a rise in the company’s profit share from associates and JVs, due to higher sales volumes and improved average selling prices of most petrochemical products. Tasnee also cited a decrease in impairment of assets and Zakat provisions, despite a drop in sales revenue on lower average selling prices of certain products and other income, along with higher general and administrative expenses, as well as net finance costs.

Shareholders’ equity, after minority interest, rose to SAR 9.70 billion as of March 31, 2023, from SAR 9.42 billion a year earlier.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	4,414.48	(7.7 %)	1,299.96	(5.4 %)	826.35	(7.8 %)
Q2 2014	5,086.92	12.6 %	1,361.88	37.0 %	908.93	40.4 %
Q3 2014	5,612.95	28.3 %	1,185.27	(0.4 %)	647.58	(16.8 %)
Q4 2014	3,676.28	(18.7 %)	751.11	(41.2 %)	387.55	(49.4 %)
2014	18,692.58	2.7 %	4,612.48	(4.6 %)	2,775.57	(10.1 %)
Q1 2015	3,942.16	(10.7 %)	706.82	(45.6 %)	225.40	(72.7 %)
Q2 2015	4,156.43	(18.3 %)	820.46	(39.8 %)	257.25	(71.7 %)
Q3 2015	3,614.33	(35.6 %)	401.18	(66.2 %)	(58.76)	(109.1 %)
Q4 2015	3,432.59	(6.6 %)	284.30	(62.1 %)	(433.80)	(211.9 %)
2015	15,145.51	(19.0 %)	2,212.75	(52.0 %)	(9.91)	(100.4 %)
Q1 2016	2,083.26	(47.2 %)	148.94	(78.9 %)	(228.55)	(201.4 %)
Q2 2016	2,171.23	(47.8 %)	96.40	(88.3 %)	(243.65)	(194.7 %)
Q3 2016	2,080.08	(42.4 %)	268.25	(33.1 %)	(183.99)	(213.1 %)
Q4 2016	2,284.97	(33.4 %)	393.45	38.4 %	9.70	102.2 %
2016	8,619.53	(43.1 %)	907.04	(59.0 %)	(646.48)	(6,424.8 %)
Q1 2017	2,480.53	19.1 %	426.87	186.6 %	26.53	111.6 %
Q2 2017	2,667.48	22.9 %	425.01	340.9 %	52.22	121.4 %
Q3 2017	2,759.12	32.6 %	536.68	100.1 %	121.66	166.1 %
Q4 2017	2,889.29	26.4 %	715.60	81.9 %	267.68	2659.3 %
2017	10,796.42	25.3 %	2,104.17	132.0 %	465.03	171.9 %
Q1 2018	620.13	(75.0 %)	77.46	(81.9 %)	(110.55)	(516.7 %)
Q2 2018	716.48	(73.1 %)	99.72	(76.5 %)	(82.76)	(258.5 %)
Q3 2018	849.05	(69.2 %)	162.53	(69.7 %)	(57.82)	(147.5 %)
Q4 2018	879.68	(69.6 %)	89.03	(87.6 %)	(100.05)	(137.4 %)
2018	3,065.34	(71.6 %)	428.74	(79.6 %)	(441.19)	(194.9 %)
Q1 2019	739.17	19.2 %	118.87	53.5 %	(43.21)	60.9 %
Q2 2019	731.16	2.0 %	87.74	(12.0 %)	(126.47)	(52.8 %)
Q3 2019	799.59	(5.8 %)	90.81	(44.1 %)	(72.59)	(25.5 %)
Q4 2019	708.62	(19.4 %)	103.84	16.6 %	(6.75)	93.3 %
2019	2,978.53	(2.8 %)	401.26	(6.4 %)	(249.03)	43.6 %
Q1 2020	654.37	(11.5 %)	94.06	(20.9 %)	(79.15)	(83.2 %)
Q2 2020	437.28	(40.2 %)	76.37	(13.0 %)	(132.32)	(4.6 %)
Q3 2020	573.02	(28.3 %)	71.64	(21.1 %)	(140.75)	(93.9 %)
Q4 2020	607.16	(14.3 %)	87.76	(15.5 %)	(22.01)	(226.1 %)
2020	2,271.84	(23.7 %)	329.84	(17.8 %)	(374.24)	(50.3 %)
Q1 2021	725.38	10.9 %	186.56	98.3 %	22.23	128.1 %
Q2 2021	780.42	78.5 %	219.43	187.3 %	21.06	115.9 %
Q3 2021	1,004.29	75.3 %	249.91	248.8 %	99.83	170.9 %
Q4 2021	1,163.01	91.5 %	331.10	277.3 %	(411.07)	(1,767.7 %)
2021	3,673.09	61.7 %	987.00	199.2 %	(267.95)	28.4 %
Q1 2022	979.18	35.0 %	288.15	54.5 %	143.29	544.6 %
Q2 2022	1,077.12	38.0 %	259.14	18.1 %	114.78	445.1 %
Q3 2022	887.11	(11.7 %)	130.11	(47.9 %)	15.38	(84.6 %)
Q4 2022	939.45	(19.2 %)	186.89	(43.6 %)	(99.40)	75.8 %
2022	3,882.86	5.7 %	864.29	(12.4 %)	174.05	165.0 %
Q1 2023	888.69	(9.2 %)	115.04	(60.1 %)	(100.78)	(170.3 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	18,198.97	1.5 %	4,837.26	(13.3 %)	3,088.44	(24.7 %)
2014	18,692.58	2.7 %	4,612.48	(4.6 %)	2,775.57	(10.1 %)
2015	15,145.51	(19.0 %)	2,212.75	(52.0 %)	(9.91)	(100.4 %)
2016	8,619.53	(43.1 %)	907.04	(59.0 %)	(646.48)	(6,424.8 %)
2017	10,796.42	25.3 %	2,104.17	132.0 %	465.03	171.9 %
2018	3,065.34	(71.6 %)	428.74	(79.6 %)	(441.19)	(194.9 %)
2019	2,978.53	(2.8 %)	401.26	(6.4 %)	(249.03)	43.6 %
2020	2,271.84	(23.7 %)	329.84	(17.8 %)	(374.24)	(50.3 %)
2021	3,673.09	61.7 %	987.00	199.2 %	(267.95)	28.4 %
2022	3,882.86	5.7 %	864.29	(12.4 %)	174.05	165.0 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	320.77	(9.7 %)	0.48	-	320.77	0.48
Q2 2014	408.31	34.7 %	0.61	-	408.31	0.61
Q3 2014	243.66	7.6 %	0.36	-	243.66	0.36
Q4 2014	160.69	(45.1 %)	0.24	-	160.69	0.24
2014	1,070.55	(9.1 %)	1.60	(5.00)	1,075.55	1.61
Q1 2015	(332.54)	(203.7 %)	(0.50)	(277.29)	(55.25)	(0.08)
Q2 2015	(107.70)	(126.4 %)	(0.16)	(64.48)	(43.22)	(0.06)
Q3 2015	(296.29)	(221.6 %)	(0.44)	(33.18)	(263.11)	(0.39)
Q4 2015	(686.56)	(527.3 %)	(1.03)	(245.19)	(441.37)	(0.66)
2015	(1423.10)	(232.9 %)	(2.13)	(620.14)	(802.96)	(1.20)
Q1 2016	(103.50)	68.9 %	(0.15)	-	(103.50)	(0.15)
Q2 2016	87.54	181.3 %	0.13	-	87.54	0.13
Q3 2016	107.94	136.4 %	0.16	-	107.94	0.16
Q4 2016	9.44	101.4 %	0.01	-	9.44	0.01
2016	101.42	107.1 %	0.15	-	101.42	0.15
Q1 2017	103.34	199.8 %	0.15	-	103.34	0.15
Q2 2017	93.56	6.9 %	0.14	-	93.56	0.14
Q3 2017	191.55	77.5 %	0.29	-	191.55	0.29
Q4 2017	327.71	3370.7 %	0.49	(94.00)	421.71	0.63
2017	716.16	606.1 %	1.07	(94.00)	810.16	1.21
Q1 2018	361.36	249.7 %	0.54	-	361.36	0.54
Q2 2018	395.81	323.1 %	0.59	-	395.81	0.59
Q3 2018	259.37	35.4 %	0.39	(73.44)	332.82	0.50
Q4 2018	185.56	(43.4 %)	0.28	(60.00)	245.56	0.37
2018	1,202.09	67.9 %	1.80	(133.44)	1,335.54	2.00
Q1 2019	(1289.29)	(456.8 %)	(1.93)	(1312.63)	23.34	0.03
Q2 2019	212.14	(46.4 %)	0.32	524.00	(311.86)	(0.47)
Q3 2019	22.42	(91.4 %)	0.03	-	22.42	0.03
Q4 2019	(621.58)	(435.0 %)	(0.93)	-	(621.58)	(0.93)
2019	(1676.32)	(239.4 %)	(2.51)	(788.63)	(887.69)	(1.33)
Q1 2020	(51.75)	96.0 %	(0.08)	(11.84)	(39.91)	(0.06)
Q2 2020	(180.23)	(185.0 %)	(0.27)	(186.91)	6.68	0.01
Q3 2020	(42.33)	(288.8 %)	(0.06)	-	(42.33)	(0.06)
Q4 2020	(172.44)	72.3 %	(0.26)	(307.26)	134.82	0.20
2020	(446.75)	73.3 %	(0.67)	(506.01)	59.26	0.09
Q1 2021	327.52	732.8 %	0.49	-	327.52	0.49
Q2 2021	356.74	297.9 %	0.53	-	356.74	0.53
Q3 2021	333.45	887.8 %	0.50	-	333.45	0.50
Q4 2021	338.69	296.4 %	0.51	547.31	(208.62)	(0.31)
2021	1,356.39	403.6 %	2.03	547.31	809.08	1.21
Q1 2022	308.96	(5.7 %)	0.46	-	308.96	0.46
Q2 2022	297.12	(16.7 %)	0.44	-	297.12	0.44
Q3 2022	17.13	(94.9 %)	0.03	-	17.13	0.03
Q4 2022	43.14	(87.3 %)	0.06	145.43	(102.30)	(0.15)
2022	666.35	(50.9 %)	1.00	145.43	520.91	0.78
Q1 2023	82.09	(73.4 %)	0.12	-	82.09	0.12

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	1,177.44	(33.2 %)	1.76	(192.00)	1,369.44	2.05
2014	1,070.55	(9.1 %)	1.60	(5.00)	1,075.55	1.61
2015	(1423.10)	(232.9 %)	(2.13)	(620.14)	(802.96)	(1.20)
2016	101.42	107.1 %	0.15	-	101.42	0.15
2017	716.16	606.1 %	1.07	(94.00)	810.16	1.21
2018	1,202.09	67.9 %	1.80	(133.44)	1,335.54	2.00
2019	(1676.32)	(239.4 %)	(2.51)	(788.63)	(887.69)	(1.33)
2020	(446.75)	73.3 %	(0.67)	(506.01)	59.26	0.09
2021	1,356.39	403.6 %	2.03	547.31	809.08	1.21
2022	666.35	(50.9 %)	1.00	145.43	520.91	0.78

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	26.71 %	25.43 %	7.49 %
Q2 2014	27.88 %	26.25 %	7.83 %
Q3 2014	26.10 %	24.39 %	6.67 %
Q4 2014	24.47 %	23.76 %	6.03 %
2014	24.68 %	23.92 %	5.75 %
Q1 2015	21.86 %	21.56 %	4.13 %
Q2 2015	19.92 %	19.56 %	1.76 %
Q3 2015	17.41 %	17.85 %	(1.31 %)
Q4 2015	14.61 %	12.00 %	(5.30 %)
2015	14.61 %	12.00 %	(5.30 %)
Q1 2016	12.46 %	8.32 %	(6.41 %)
Q2 2016	8.24 %	3.15 %	(6.37 %)
Q3 2016	8.17 %	(0.40 %)	(3.58 %)
Q4 2016	10.52 %	2.46 %	1.18 %
2016	10.52 %	2.46 %	1.18 %
Q1 2017	13.14 %	5.22 %	3.42 %
Q2 2017	15.91 %	8.04 %	3.30 %
Q3 2017	17.48 %	10.54 %	3.90 %
Q4 2017	19.49 %	12.24 %	7.50 %
2017	19.49 %	12.21 %	7.50 %
Q1 2018	19.64 %	13.16 %	11.95 %
Q2 2018	20.46 %	14.73 %	19.62 %
Q3 2018	20.79 %	16.49 %	29.79 %
Q4 2018	13.99 %	15.59 %	43.57 %
2018	13.99 %	12.66 %	43.57 %
Q1 2019	14.76 %	18.78 %	31.33 %
Q2 2019	14.32 %	12.44 %	9.06 %
Q3 2019	12.27 %	7.88 %	(0.65 %)
Q4 2019	13.47 %	4.82 %	(29.80 %)
2019	13.47 %	4.82 %	(29.80 %)
Q1 2020	13.01 %	(2.66 %)	(32.86 %)
Q2 2020	14.04 %	(2.98 %)	(24.32 %)
Q3 2020	14.58 %	(6.52 %)	(29.37 %)
Q4 2020	14.52 %	(5.09 %)	2.61 %
2020	14.52 %	(5.09 %)	2.61 %
Q1 2021	18.03 %	(0.47 %)	18.21 %
Q2 2021	21.05 %	5.37 %	28.92 %
Q3 2021	23.86 %	12.30 %	36.97 %
Q4 2021	26.87 %	0.11 %	22.03 %
2021	26.87 %	0.11 %	22.03 %
Q1 2022	27.72 %	3.10 %	20.13 %
Q2 2022	26.71 %	5.02 %	17.31 %
Q3 2022	24.56 %	3.09 %	10.10 %
Q4 2022	22.26 %	10.45 %	13.42 %
2022	22.26 %	10.45 %	13.42 %
Q1 2023	18.23 %	4.45 %	7.75 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	26.58 %	25.13 %	7.52 %
2014	24.68 %	23.92 %	5.75 %
2015	14.61 %	12.00 %	(5.30 %)
2016	10.52 %	2.46 %	1.18 %
2017	19.49 %	12.21 %	7.50 %
2018	13.99 %	12.66 %	43.57 %
2019	13.47 %	4.82 %	(29.80 %)
2020	14.52 %	(5.09 %)	2.61 %
2021	26.87 %	0.11 %	22.03 %
2022	22.26 %	10.45 %	13.42 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	29.45 %	27.12 %	7.27 %
Q2 2014	26.77 %	25.20 %	8.03 %
Q3 2014	21.12 %	19.29 %	4.34 %
Q4 2014	20.43 %	24.59 %	4.37 %
Q1 2015	17.93 %	17.27 %	(1.40 %)
Q2 2015	19.74 %	17.63 %	(1.04 %)
Q3 2015	11.10 %	11.90 %	(7.28 %)
Q4 2015	8.28 %	(0.75 %)	(12.86 %)
Q1 2016	7.15 %	(1.49 %)	(4.97 %)
Q2 2016	4.44 %	(0.77 %)	4.03 %
Q3 2016	12.90 %	1.67 %	5.19 %
Q4 2016	17.22 %	9.84 %	0.41 %
Q1 2017	17.21 %	9.18 %	4.17 %
Q2 2017	15.93 %	10.40 %	3.51 %
Q3 2017	19.45 %	12.47 %	6.94 %
Q4 2017	24.77 %	16.34 %	14.60 %
Q1 2018	12.49 %	13.35 %	58.27 %
Q2 2018	13.92 %	18.19 %	55.24 %
Q3 2018	19.14 %	17.86 %	39.20 %
Q4 2018	10.12 %	12.87 %	27.91 %
Q1 2019	16.08 %	27.46 %	3.16 %
Q2 2019	12.00 %	(9.56 %)	(42.65 %)
Q3 2019	11.36 %	0.26 %	2.80 %
Q4 2019	14.65 %	1.18 %	(87.72 %)
Q1 2020	14.37 %	(2.70 %)	(6.10 %)
Q2 2020	17.47 %	(16.10 %)	1.53 %
Q3 2020	12.50 %	(13.08 %)	(7.39 %)
Q4 2020	14.45 %	7.82 %	22.20 %
Q1 2021	25.72 %	11.97 %	45.15 %
Q2 2021	28.12 %	10.88 %	45.71 %
Q3 2021	24.88 %	16.34 %	33.20 %
Q4 2021	28.47 %	(28.52 %)	(17.94 %)
Q1 2022	29.43 %	20.88 %	31.55 %
Q2 2022	24.06 %	16.27 %	27.58 %
Q3 2022	14.67 %	8.90 %	1.93 %
Q4 2022	19.89 %	(5.61 %)	(10.89 %)
Q1 2023	12.94 %	(3.70 %)	9.24 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	668.91	1.71	2.00	18.61
Q2 2014	668.91	1.87	2.15	17.86
Q3 2014	668.91	1.89	1.96	18.09
Q4 2014	668.91	1.69	1.69	17.38
Q1 2015	668.91	0.72	1.13	14.97
Q2 2015	668.91	(0.05)	0.46	14.14
Q3 2015	668.91	(0.86)	(0.30)	13.06
Q4 2015	668.91	(2.13)	(1.20)	11.91
Q1 2016	668.91	(1.79)	(1.27)	10.88
Q2 2016	668.91	(1.49)	(1.08)	10.97
Q3 2016	668.91	(0.89)	(0.52)	11.03
Q4 2016	668.91	0.15	0.15	10.96
Q1 2017	668.91	0.46	0.46	11.34
Q2 2017	668.91	0.47	0.47	11.44
Q3 2017	668.91	0.59	0.59	11.93
Q4 2017	668.91	1.07	1.21	12.48
Q1 2018	668.91	1.46	1.60	13.19
Q2 2018	668.91	1.91	2.05	13.53
Q3 2018	668.91	2.01	2.26	13.81
Q4 2018	668.91	1.80	2.00	13.96
Q1 2019	668.91	(0.67)	1.49	14.29
Q2 2019	668.91	(0.95)	0.43	14.90
Q3 2019	668.91	(1.30)	(0.03)	14.91
Q4 2019	668.91	(2.51)	(1.33)	11.70
Q1 2020	668.91	(0.66)	(1.42)	11.30
Q2 2020	668.91	(1.24)	(0.95)	11.20
Q3 2020	668.91	(1.34)	(1.04)	11.21
Q4 2020	668.91	(0.67)	0.09	10.87
Q1 2021	668.91	(0.10)	0.64	11.38
Q2 2021	668.91	0.70	1.16	12.04
Q3 2021	668.91	1.26	1.72	12.45
Q4 2021	668.91	2.03	1.21	13.01
Q1 2022	668.91	2.00	1.18	14.09
Q2 2022	668.91	1.91	1.09	14.25
Q3 2022	668.91	1.44	0.62	14.24
Q4 2022	668.91	1.00	0.78	14.37
Q1 2023	668.91	0.66	0.44	14.51

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	668.91	1.76	2.05	17.95
2014	668.91	1.60	1.61	17.38
2015	668.91	(2.13)	(1.20)	11.91
2016	668.91	0.15	0.15	10.96
2017	668.91	1.07	1.21	12.48
2018	668.91	1.80	2.00	13.96
2019	668.91	(2.51)	(1.33)	11.70
2020	668.91	(0.67)	0.09	10.87
2021	668.91	2.03	1.21	13.01
2022	668.91	1.00	0.78	14.37

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	19.67	16.84	1.81
Q2 2014	17.67	15.32	1.85
Q3 2014	20.47	19.78	2.14
Q4 2014	15.70	15.70	1.53
Q1 2015	32.42	20.55	1.55
Q2 2015	NEG	42.95	1.39
Q3 2015	NEG	NEG	1.01
Q4 2015	NEG	NEG	0.89
Q1 2016	NEG	NEG	0.84
Q2 2016	NEG	NEG	1.19
Q3 2016	NEG	NEG	1.13
Q4 2016	More than 100	More than 100	1.59
Q1 2017	38.04	38.04	1.55
Q2 2017	30.05	30.05	1.23
Q3 2017	26.29	26.29	1.31
Q4 2017	15.32	13.54	1.31
Q1 2018	13.64	12.44	1.51
Q2 2018	11.60	10.81	1.64
Q3 2018	9.85	8.76	1.43
Q4 2018	8.41	7.57	1.08
Q1 2019	NEG	12.08	1.26
Q2 2019	NEG	39.69	1.15
Q3 2019	NEG	NEG	0.89
Q4 2019	NEG	NEG	1.17
Q1 2020	NEG	NEG	0.81
Q2 2020	NEG	NEG	0.93
Q3 2020	NEG	NEG	1.18
Q4 2020	NEG	More than 100	1.26
Q1 2021	NEG	23.77	1.33
Q2 2021	27.53	16.64	1.60
Q3 2021	18.60	13.64	1.89
Q4 2021	9.84	16.50	1.53
Q1 2022	11.55	19.55	1.64
Q2 2022	8.44	14.75	1.13
Q3 2022	9.49	22.01	0.96
Q4 2022	12.41	15.87	0.86
Q1 2023	18.60	27.80	0.84

Period	P/E	Adjusted P/E	Price/book
2013	19.03	16.36	1.87
2014	16.62	16.54	1.53
2015	NEG	NEG	0.89
2016	More than 100	More than 100	1.59
2017	15.32	13.54	1.31
2018	8.41	7.57	1.08
2019	NEG	NEG	1.17
2020	NEG	More than 100	1.26
2021	9.84	16.50	1.53
2022	12.41	15.87	0.86

Business Segments (Million)

Compared With The

Period	Petrochemical sector	Transformative Industries and others	Chemicals	Industrial development	Headquarters & Others	Consolidation adjustments & eliminations
Q1 2014	3,334.57	-	-	2,192.15	93.31	(1205.54)
Q2 2014	3,712.69	-	-	2,375.16	102.48	(1103.40)
Q3 2014	4,355.90	-	-	2,353.37	111.76	(1208.08)
Q4 2014	2,484.05	-	-	2,032.52	106.13	(1044.48)
Q1 2015	2,687.37	-	-	1,932.09	100.40	(777.70)
Q2 2015	2,821.34	-	-	2,071.59	100.47	(836.97)
Q3 2015	2,637.60	-	-	1,756.99	95.25	(875.49)
Q4 2015	2,759.04	-	-	1,583.43	104.47	(1014.35)
Q1 2016	2,855.34	-	-	1,760.29	90.89	(988.74)
Q2 2016	2,822.57	-	-	1,926.10	88.48	(1027.23)
Q3 2016	285.06	156.01	1,647.16	-	-	(8.15)
Q4 2016	432.53	243.83	1,612.19	-	-	(3.59)
Q1 2017	490.76	391.19	1,793.10	-	-	(194.51)
Q2 2017	324.73	131.24	2,017.28	-	-	194.24
Q3 2017	377.73	274.93	2,106.64	-	-	(0.18)
Q4 2017	544.48	231.43	2,118.58	-	-	(5.19)
Q1 2018	328.84	291.46	2,200.13	-	-	(0.17)
Q2 2018	426.31	290.38	-	-	-	(0.21)
Q3 2018	636.64	212.74	-	-	-	(0.34)
Q4 2018	495.96	383.17	-	-	-	0.55
Q1 2019	456.10	283.34	-	-	-	(0.27)
Q2 2019	453.18	278.33	-	-	-	(0.35)
Q3 2019	463.30	336.74	-	-	-	(0.45)
Q4 2019	396.13	312.78	-	-	-	(0.29)
Q1 2020	341.74	312.95	-	-	-	(0.32)
Q2 2020	245.64	192.22	-	-	-	(0.58)
Q3 2020	202.12	371.62	-	-	-	(0.72)
Q4 2020	269.54	336.00	-	-	-	1.62
Q1 2021	385.89	339.49	-	-	-	-
Q2 2021	469.44	310.97	-	-	-	-
Q3 2021	651.50	352.78	-	-	-	-
Q4 2021	769.74	393.27	-	-	-	-
Q1 2022	579.67	367.52	31.99	-	-	-
Q2 2022	640.85	346.60	57.67	-	-	-
Q3 2022	479.73	331.46	75.91	-	-	-
Q4 2022	494.75	350.13	94.57	-	-	-
Q1 2023	403.84	318.86	165.98	-	-	-

Period	Petrochemical sector	Transformative Industries and others	Chemicals	Industrial development	Headquarters & Others	Consolidation adjustments & eliminations
2013	11,860.90	-	-	9,154.32	382.01	(3198.27)
2014	13,887.20	-	-	8,953.20	413.68	(4561.50)
2015	10,905.34	-	-	7,344.10	400.58	(3504.51)
2016	1,169.06	948.16	6,514.05	-	-	(11.74)
2017	1,737.69	1,028.78	8,035.60	-	-	(5.64)
2018	1,887.76	1,177.76	-	-	-	(0.18)
2019	1,768.71	1,211.19	-	-	-	(1.36)
2020	1,059.04	1,212.80	-	-	-	-
2021	2,276.57	1,396.52	-	-	-	-
2022	2,195.01	1,427.71	260.14	-	-	-

Analysts Estimates (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change‬
Average	53.14	82.09	54.47 %

Estimates vs Actual (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change
Arqaam Capital	77.00	82.09	6.6 %
SNB Capital	62.10	82.09	32.2 %
Hermes	49.00	82.09	67.5 %
AlJazira Capital	42.60	82.09	92.7 %
Riyad Capital	35.00	82.09	134.5 %

Financial Ratios

	Current
Market Cap (M Riyal)	6,970.08
Enterprise Value (EV) (M)	11,628.38
Shares Outstanding ((M))	668.91
EPS ( Riyal) (TTM)	0.08
Book Value (BV) ( Riyal)	14.51
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	0.72
Return on Average Assets (%) (TTM)	0.2
Return on Average Equity (%) (TTM)	0.5

National Industrialization Co. (TASNEE)

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Tasnee Q1 2023 profit dips 73% to SAR 82.1 mln

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Tasnee Q1 2023 profit dips 73% to SAR 82.1 mln

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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) Q1 2023

Revenue by Business Segment (Latest) 2023 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

National Industrialization Co. (TASNEE)

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Business Segments (Million)