Kayan posts higher net profit at SAR 9.9m in Q1 of 2014

31/03/2014 Argaam Exclusive

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Share Price

Saudi Kayan Petrochemical Co. (SAUDI KAYAN)

Saudi KAYAN Petrochemical Company, a petrochemical producer, reported SAR 9.9m net profit at the end of the first quarter of 2014, compared to SAR 154.9m in the same quarter last year, as shown in the following table:



Current Quarter Comparison (M)

Compared With The
Item Q1 2013 Q1 2014 Change‬
Revenues 2,079.89 2,909.36 39.9 %
Gross Income 58.73 260.96 344.4 %
Operating Income (10.73) 161.50 1604.9 %
Net Income (154.87) 9.94 106.4 %
Average Shares 1,500.00 1,500.00 -
EPS (Riyals) (0.10) 0.01 106.4 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2005 - - - - - - -
Q2 2005 - - - - - - -
Q3 2005 - - - - - - -
Q4 2005 - - - - - - -
Q1 2006 - - - - - - -
Q2 2006 - - - - - - -
Q3 2006 - - - - - - -
Q4 2006 - - - - - - -
Q1 2007 - - - - - - -
Q2 2007 - - - - - - -
Q3 2007 - - - - - - -
Q4 2007 - - - - - - -
Q1 2008 - - - - 95.64 - 0.06
Q2 2008 - - - - 59.69 - 0.04
Q3 2008 - - - - 24.61 - 0.02
Q4 2008 - - - - (8.37) - (0.01)
Q1 2009 - - - - (6.27) (106.6 %) 0.00
Q2 2009 - - - - (6.49) (110.9 %) 0.00
Q3 2009 - - - - (3.72) (115.1 %) 0.00
Q4 2009 - - - - (0.44) 94.7 % 0.00
Q1 2010 - - - - (3.77) 39.8 % 0.00
Q2 2010 - - - - (1.80) 72.3 % 0.00
Q3 2010 - - - - (5.07) (36.1 %) 0.00
Q4 2010 - - - - (3.98) (800.2 %) 0.00
Q1 2011 - - - - (8.33) (121.1 %) (0.01)
Q2 2011 - - - - (16.01) (791.4 %) (0.01)
Q3 2011 - - - - (35.16) (593.7 %) (0.02)
Q4 2011 2,403.41 - 32.44 - (190.75) (4,693.9 %) (0.13)
Q1 2012 2,043.31 - 132.23 - (71.12) (753.5 %) (0.05)
Q2 2012 2,316.89 - (72.29) - (328.32) (1,950.7 %) (0.22)
Q3 2012 2,196.23 - 52.68 - (178.37) (407.3 %) (0.12)
Q4 2012 2,925.81 21.7 % 38.99 20.2 % (194.45) (1.9 %) (0.13)
Q1 2013 2,079.89 1.8 % 58.73 (55.6 %) (154.87) (117.8 %) (0.10)
Q2 2013 2,288.05 (1.2 %) (20.14) 72.1 % (238.24) 27.4 % (0.16)
Q3 2013 3,052.20 39.0 % 304.95 478.9 % 43.27 124.3 % 0.03
Q4 2013 2,932.52 0.2 % 264.49 578.4 % 3.42 101.8 % 0.00
Q1 2014 2,909.36 39.9 % 260.96 344.4 % 9.94 106.4 % 0.01

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
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 1.35 % 16.92 % (9.96 %)
Q1 2012 3.70 % 21.55 % (6.79 %)
Q2 2012 1.37 % 19.05 % (9.08 %)
Q3 2012 1.62 % 19.64 % (8.46 %)
Q4 2012 1.60 % 19.88 % (8.14 %)
Q1 2013 0.82 % 19.41 % (8.99 %)
Q2 2013 1.37 % 23.60 % (8.07 %)
Q3 2013 3.70 % 25.88 % (5.26 %)
Q4 2013 5.87 % 24.25 % (3.35 %)
Q1 2014 7.25 % 24.70 % (1.62 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 - - - -
Q1 2008 1,500.00 - - 10.28
Q2 2008 1,500.00 - - 10.32
Q3 2008 1,500.00 - - 10.33
Q4 2008 1,500.00 0.11 0.12 10.33
Q1 2009 1,500.00 0.05 0.05 10.33
Q2 2009 1,500.00 0.00 0.02 10.32
Q3 2009 1,500.00 (0.02) 0.00 10.32
Q4 2009 1,500.00 (0.01) (0.01) 10.32
Q1 2010 1,500.00 (0.01) (0.01) 10.32
Q2 2010 1,500.00 (0.01) (0.01) 10.31
Q3 2010 1,500.00 (0.01) (0.01) 10.31
Q4 2010 1,500.00 (0.01) (0.01) 10.31
Q1 2011 1,500.00 (0.01) (0.01) 10.30
Q2 2011 1,500.00 (0.02) (0.02) 10.29
Q3 2011 1,500.00 (0.04) (0.04) 10.27
Q4 2011 1,500.00 (0.17) (0.16) 10.14
Q1 2012 1,500.00 (0.21) (0.20) 10.09
Q2 2012 1,500.00 (0.42) (0.41) 9.88
Q3 2012 1,500.00 (0.51) (0.51) 9.76
Q4 2012 1,500.00 (0.51) (0.51) 9.63
Q1 2013 1,500.00 (0.57) (0.57) 9.52
Q2 2013 1,500.00 (0.51) (0.51) 9.36
Q3 2013 1,500.00 (0.36) (0.36) 9.39
Q4 2013 1,500.00 (0.23) (0.23) 9.40
Q1 2014 1,500.00 (0.12) (0.12) 9.40

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - 2.36
Q2 2008 - - 2.40
Q3 2008 - - 1.67
Q4 2008 More than 50 More than 50 0.94
Q1 2009 More than 50 More than 50 1.01
Q2 2009 More than 50 More than 50 1.33
Q3 2009 NEG NEG 1.49
Q4 2009 NEG NEG 1.76
Q1 2010 NEG NEG 1.87
Q2 2010 NEG NEG 1.74
Q3 2010 NEG NEG 1.72
Q4 2010 NEG NEG 1.87
Q1 2011 NEG NEG 1.81
Q2 2011 NEG NEG 1.79
Q3 2011 NEG NEG 1.66
Q4 2011 NEG NEG 1.72
Q1 2012 NEG NEG 2.00
Q2 2012 NEG NEG 1.51
Q3 2012 NEG NEG 1.34
Q4 2012 NEG NEG 1.26
Q1 2013 NEG NEG 1.21
Q2 2013 NEG NEG 1.22
Q3 2013 NEG NEG 1.28
Q4 2013 NEG NEG 1.67
Q1 2014 NEG NEG 1.76

Current
Market Cap (M Riyal) 13,260.00
Enterprise Value (EV) (M) 22,380.66
Shares Outstanding ((M)) 1,500.00
EPS ( Riyal) (TTM) (1.36)
Book Value (BV) ( Riyal) 8.50
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.04
Return on Average Assets (%) (TTM) (7.44 )
Return on Average Equity (%) (TTM) (14.78 )

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