Petrochem net profit down 28 percent to ​SAR 102 mln in Q1-2015

Petrochem net profit down 28 percent to ​SAR 102 mln in Q1-2015

19/04/2015 Argaam Exclusive

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National Petrochemicals Company (Petrochem), which is 50 percent owned by SIIG, reported a net profit of SAR 101.8 million for first quarter, 28 percent lower compared to the same period in 2014.

 

​F​
irst quarter's drop was mainly attributed to lower selling prices of products and higher Zakat expenses
​, as well as higher ​
selling 
​and
 distribution expenses
​.
​
​C
ompared to 
​Q4-2014
, the drop was
​ m
ainly ​
attributed to lower selling prices of affiliates’ products, the company added.


Current Quarter Comparison (M)

Compared With The
Item Q1 2014 Q1 2015 Change‬
Revenues 1,709.95 1,770.75 3.6 %
Gross Income 456.16 439.57 (3.6 %)
Operating Income 280.85 233.11 (17.0 %)
Net Income 141.02 101.84 (27.8 %)
Average Shares 480.00 480.00 -
EPS (Riyals) 0.29 0.21 (27.8 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - (0.86) -
Q3 2008 - - - - (0.26) -
Q4 2008 - - - - (0.73) -
Q1 2009 - - - - (0.66) -
Q2 2009 - - - - (1.10) (28.1 %)
Q3 2009 - - - - (2.13) (736.9 %)
Q4 2009 - - - - (7.12) (877.3 %)
Q1 2010 - - - - (3.35) (403.8 %)
Q2 2010 - - - - (2.33) (111.0 %)
Q3 2010 - - - - (1.93) 9.4 %
Q4 2010 - - - - (6.60) 7.2 %
Q1 2011 - - - - (4.21) (25.7 %)
Q2 2011 - - - - (6.79) (191.8 %)
Q3 2011 - - - - (5.39) (178.7 %)
Q4 2011 - - - - (30.75) (365.7 %)
Q1 2012 - - - - (22.64) (438.2 %)
Q2 2012 - - - - (41.82) (516.3 %)
Q3 2012 - - - - (32.71) (506.9 %)
Q4 2012 857.88 - (478.86) - (585.13) (1,803.0 %)
Q1 2013 689.10 - 172.39 - 61.30 370.8 %
Q2 2013 1,144.23 - 222.85 - 83.47 299.6 %
Q3 2013 1,117.37 - (38.76) - (170.86) (422.3 %)
Q4 2013 1,485.98 73.2 % 370.03 177.3 % 191.52 132.7 %
Q1 2014 1,709.95 148.1 % 456.16 164.6 % 280.85 358.1 %
Q2 2014 1,965.81 71.8 % 560.99 151.7 % 365.21 337.5 %
Q3 2014 1,952.47 74.7 % 668.53 1824.8 % 453.22 365.3 %
Q4 2014 2,230.28 50.1 % 613.39 65.8 % 406.50 112.3 %
Q1 2015 1,770.75 3.6 % 439.57 (3.6 %) 233.11 (17.0 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 4.13 - 0.01 (16.00) 20.12 0.04
Q3 2008 5.40 - 0.01 (6.00) 11.40 0.02
Q4 2008 8.27 - 0.02 (2.77) 11.03 0.02
Q1 2009 (7.87) - (0.02) - (7.87) (0.02)
Q2 2009 (12.36) (399.3 %) (0.03) - (12.36) (0.03)
Q3 2009 (19.21) (455.5 %) (0.04) (5.55) (13.66) (0.03)
Q4 2009 (21.15) (355.9 %) (0.04) (8.61) (12.55) (0.03)
Q1 2010 (42.94) (445.6 %) (0.09) - (42.94) (0.09)
Q2 2010 (37.62) (204.3 %) (0.08) - (37.62) (0.08)
Q3 2010 (3.45) 82.0 % (0.01) - (3.45) (0.01)
Q4 2010 41.38 295.6 % 0.09 - 41.38 0.09
Q1 2011 (10.52) 75.5 % (0.02) - (10.52) (0.02)
Q2 2011 (12.37) 67.1 % (0.03) - (12.37) (0.03)
Q3 2011 (12.59) (264.5 %) (0.03) - (12.59) (0.03)
Q4 2011 (28.63) (169.2 %) (0.06) - (28.63) (0.06)
Q1 2012 (21.63) (105.6 %) (0.05) - (21.63) (0.05)
Q2 2012 (35.79) (189.4 %) (0.07) - (35.79) (0.07)
Q3 2012 (0.13) 99.0 % 0.00 - (0.13) 0.00
Q4 2012 (405.99) (1,318.2 %) (0.85) - (405.99) (0.85)
Q1 2013 (1.33) 93.8 % 0.00 - (1.33) 0.00
Q2 2013 10.84 130.3 % 0.02 - 10.84 0.02
Q3 2013 (150.21) (120,064.0 %) (0.31) - (150.21) (0.31)
Q4 2013 74.57 118.4 % 0.16 - 74.57 0.16
Q1 2014 141.02 10678.9 % 0.29 - 141.02 0.29
Q2 2014 197.03 1717.8 % 0.41 - 197.03 0.41
Q3 2014 244.19 262.6 % 0.51 - 244.19 0.51
Q4 2014 192.53 158.2 % 0.40 - 192.53 0.40
Q1 2015 101.84 (27.8 %) 0.21 - 101.84 0.21

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 - - -
Q4 2009 - - -
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 (55.82 %) (56.03 %) (54.03 %)
Q1 2013 (19.81 %) (12.88 %) (28.65 %)
Q2 2013 (3.11 %) 5.55 % (14.74 %)
Q3 2013 (3.21 %) 5.64 % (14.35 %)
Q4 2013 16.38 % 22.19 % (1.49 %)
Q1 2014 18.51 % 22.23 % 1.40 %
Q2 2014 21.47 % 23.54 % 4.18 %
Q3 2014 28.90 % 29.39 % 9.23 %
Q4 2014 29.26 % 29.67 % 9.86 %
Q1 2015 28.82 % 28.79 % 9.29 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 - - - -
Q2 2008 480.00 - - 4.59
Q3 2008 480.00 - - 4.60
Q4 2008 480.00 - - 4.62
Q1 2009 480.00 0.02 0.07 4.60
Q2 2009 480.00 (0.01) 0.00 4.58
Q3 2009 480.00 (0.06) (0.05) 9.95
Q4 2009 480.00 (0.13) (0.10) 9.91
Q1 2010 480.00 (0.20) (0.17) 9.82
Q2 2010 480.00 (0.25) (0.22) 9.74
Q3 2010 480.00 (0.22) (0.20) 9.74
Q4 2010 480.00 (0.09) (0.09) 9.82
Q1 2011 480.00 (0.02) (0.02) 9.80
Q2 2011 480.00 0.03 0.03 9.77
Q3 2011 480.00 0.01 0.01 9.75
Q4 2011 480.00 (0.13) (0.13) 9.69
Q1 2012 480.00 (0.16) (0.16) 9.64
Q2 2012 480.00 (0.21) (0.21) 9.57
Q3 2012 480.00 (0.18) (0.18) 9.57
Q4 2012 480.00 (0.97) (0.97) 8.72
Q1 2013 480.00 (0.92) (0.92) 8.72
Q2 2013 480.00 (0.83) (0.83) 8.74
Q3 2013 480.00 (1.14) (1.14) 8.43
Q4 2013 480.00 (0.14) (0.14) 8.59
Q1 2014 480.00 0.16 0.16 8.88
Q2 2014 480.00 0.55 0.55 9.29
Q3 2014 480.00 1.37 1.37 9.80
Q4 2014 480.00 1.61 1.61 10.20
Q1 2015 480.00 1.53 1.53 10.41

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 - - -
Q3 2008 - - -
Q4 2008 - - -
Q1 2009 - - -
Q2 2009 - - -
Q3 2009 NEG NEG 1.53
Q4 2009 NEG NEG 1.57
Q1 2010 NEG NEG 1.55
Q2 2010 NEG NEG 1.53
Q3 2010 NEG NEG 1.82
Q4 2010 NEG NEG 2.29
Q1 2011 NEG NEG 2.46
Q2 2011 More than 100 More than 100 2.27
Q3 2011 More than 100 More than 100 2.30
Q4 2011 NEG NEG 2.12
Q1 2012 NEG NEG 2.70
Q2 2012 NEG NEG 2.08
Q3 2012 NEG NEG 2.29
Q4 2012 NEG NEG 2.29
Q1 2013 NEG NEG 2.33
Q2 2013 NEG NEG 2.60
Q3 2013 NEG NEG 2.49
Q4 2013 NEG NEG 2.98
Q1 2014 More than 100 More than 100 3.18
Q2 2014 59.70 59.70 3.51
Q3 2014 26.09 26.09 3.64
Q4 2014 13.57 13.57 2.15
Q1 2015 14.36 14.36 2.11

Analysts Estimates (Million)

Item Q1 2015 (e) Q1 2015 (a) Change‬
Average 158.45 101.84 (35.7 %)

Estimates vs Actual (Million)

Item Q1 2015 (e) Q1 2015 (a) Change
AlJazira Capital 110.80 101.84 (8.1) %
SNB Capital 138.00 101.84 (26.2) %
Riyad Capital 157.00 101.84 (35.1) %
SFC 228.00 101.84 (55.3) %


Financial Ratios
Current
Market Cap (M Riyal) 21,816.00
Enterprise Value (EV) (M) -
Shares Outstanding ((M)) 480.00
EPS ( Riyal) (TTM) 2.85
Book Value (BV) ( Riyal) 19.02
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 15.96
P/E (TTM) 15.96
Price/book 2.39
Return on Average Assets (%) (TTM) 15.3
Return on Average Equity (%) (TTM) 15.9
more

Share Price

National Petrochemical Co.
45.45
(0.60) (1.30 %)

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