Tasnee H1 net profit down 81% to SAR 113.5 mln; Q2 at SAR 31.4 mln

30/07/2023 Argaam Exclusive

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National Industrialization Company (Tasnee) reported a net profit of SAR 113.5 million in H1 2023, a decline of 81% from SAR 606.1 million in the year-earlier period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	2,056.31	1,777.93	(13.5 %)
Gross Income	547.29	258.51	(52.8 %)
Operating Income	258.07	(114.72)	(144.5 %)
Net Income	606.08	113.50	(81.3 %)
Average Shares	668.91	668.91	-
EPS (Riyals)	0.91	0.17	(81.3 %)

The profit decline was attributed to lower average selling prices of most products resulting in a decrease in revenue and share of profit from joint ventures and associates, despite a decline in net finance costs and Zakat provisions as well as an increase in other income.

In addition, share of profit from associates decreased by SAR 147 million (Tasnee share: SAR 116 million) due to IFRS based non-recurring adjustment of a valuation allowance relating to deferred assets tax recorded by an associate, Tronox Holdings plc.

The company reported a net profit of SAR 31.4 million in Q2 2023, up from SAR 297.12 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Revenues	1,077.12	889.24	(17.4 %)
Gross Income	259.14	143.47	(44.6 %)
Operating Income	114.78	(13.94)	(112.1 %)
Net Income	297.12	31.41	(89.4 %)
Average Shares	668.91	668.91	-
EPS (Riyals)	0.44	0.05	(89.4 %)

Item	Q1 2023	Q2 2023	Change‬
Revenues	888.69	889.24	0.1 %
Gross Income	115.04	143.47	24.7 %
Operating Income	(100.78)	(13.94)	86.2 %
Net Income	82.09	31.41	(61.7 %)
Average Shares	668.91	668.91	-
EPS (Riyals)	0.12	0.05	(61.7 %)

On a quarterly basis, net earnings dropped by 61.7% from SAR 82.9 million.

Total shareholders’ equity, excluding minority interest, stood at SAR 9.67 billion as of June 30, 2023, compared to SAR 9.53 billion in the prior-year period.

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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 %)
Q2 2023	889.24	(17.4 %)	143.47	(44.6 %)	(13.94)	(112.1 %)

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
Q2 2023	31.41	(89.4 %)	0.05	(116.00)	147.41	0.22

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 %
Q2 2023	15.97 %	0.88 %	4.00 %

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 %
Q2 2023	16.13 %	4.32 %	16.58 %

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
Q2 2023	668.91	0.26	0.22	14.46

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
Q2 2023	57.44	69.15	1.03

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	-	-	-
Q2 2023	465.80	285.22	138.22	-	-	-

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	Q2 2023 (e)	Q2 2023 (a)	Change‬
Average	122.10	31.41	(74.3 %)

Estimates vs Actual (Million)

Item	Q2 2023 (e)	Q2 2023 (a)	Change
SNB Capital	91.60	31.41	(65.7) %
HSBC	97.00	31.41	(67.6) %
Riyad Capital	125.00	31.41	(74.9) %
U-Capital	135.60	31.41	(76.8) %
AlJazira Capital	161.30	31.41	(80.5) %

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 H1 net profit down 81% to SAR 113.5 mln; Q2 at SAR 31.4 mln

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Financials (M)

Current Quarter Comparison (M)

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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) 2023 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

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Tasnee H1 net profit down 81% to SAR 113.5 mln; Q2 at SAR 31.4 mln

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) Q2 2023

Revenue by Business Segment (Latest) 2023 Q2

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)