Advanced posts higher net profit at SAR 396m in I3 of 2013

30/09/2013 Argaam Exclusive

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Share Price

40.05
(0.10) (0.25 %)

Advanced Petrochemical Co. (ADVANCED)

Advanced Petrochemicals Company, which produces Poly-Propylene, reported SAR 396m net profit in I3 of 2013, an 87% increase compared to the same period last year, as shown in the following table:



Financials (M)

Item 9m 2012 9m 2013 Change‬
Revenues 1,692.43 2,021.43 19.4 %
Gross Income 251.97 437.49 73.6 %
Operating Income 224.23 405.41 80.8 %
Net Income 211.23 395.57 87.3 %
Average Shares 260.00 260.00 -
EPS (Riyals) 0.81 1.52 87.3 %


Current Quarter Comparison (M)

Compared With The
Item Q3 2012 Q3 2013 Change‬
Revenues 649.29 694.25 6.9 %
Gross Income 114.76 154.12 34.3 %
Operating Income 105.51 143.53 36.0 %
Net Income 100.26 140.96 40.6 %
Average Shares 260.00 260.00 -
EPS (Riyals) 0.39 0.54 40.6 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2004 - - - - - - -
Q2 2004 - - - - - - -
Q3 2004 - - - - - - -
Q4 2004 - - - - - - -
Q1 2005 - - - - - - -
Q2 2005 - - - - - - -
Q3 2005 - - - - - - -
Q4 2005 - - - - - - -
Q1 2006 - - - - - - -
Q2 2006 - - - - 2.00 - 0.01
Q3 2006 - - - - - - -
Q4 2006 - - - - 1.74 - 0.01
Q1 2007 - - - - 1.69 - 0.01
Q2 2007 - - - - 0.61 (69.4 %) 0.00
Q3 2007 - - - - (0.06) - 0.00
Q4 2007 - - - - (0.08) (104.6 %) 0.00
Q1 2008 - - - - (0.05) (102.9 %) 0.00
Q2 2008 319.83 - 89.11 - 75.90 12281.2 % 0.29
Q3 2008 682.50 - 230.29 - 210.42 334096.8 % 0.81
Q4 2008 456.85 - (39.87) - (76.12) (95,045.0 %) (0.29)
Q1 2009 369.52 - 63.52 - 42.87 87591.8 % 0.16
Q2 2009 344.26 7.6 % 60.92 (31.6 %) 34.63 (54.4 %) 0.13
Q3 2009 361.50 (47.0 %) 41.02 (82.2 %) 20.88 (90.1 %) 0.08
Q4 2009 391.55 (14.3 %) 52.47 231.6 % 28.74 137.8 % 0.11
Q1 2010 464.49 25.7 % 69.23 9.0 % 52.57 22.6 % 0.20
Q2 2010 450.82 31.0 % 81.56 33.9 % 65.26 88.4 % 0.25
Q3 2010 545.20 50.8 % 136.90 233.7 % 121.14 480.0 % 0.47
Q4 2010 570.45 45.7 % 107.81 105.5 % 89.36 211.0 % 0.34
Q1 2011 667.51 43.7 % 145.05 109.5 % 131.11 149.4 % 0.50
Q2 2011 742.50 64.7 % 170.14 108.6 % 155.61 138.5 % 0.60
Q3 2011 717.07 31.5 % 150.68 10.1 % 135.49 11.9 % 0.52
Q4 2011 663.84 16.4 % 109.88 1.9 % 90.60 1.4 % 0.35
Q1 2012 586.24 (12.2 %) 69.36 (52.2 %) 57.09 (56.5 %) 0.22
Q2 2012 456.91 (38.5 %) 67.84 (60.1 %) 53.88 (65.4 %) 0.21
Q3 2012 649.29 (9.5 %) 114.76 (23.8 %) 100.26 (26.0 %) 0.39
Q4 2012 780.00 17.5 % 134.53 22.4 % 117.01 29.2 % 0.45
Q1 2013 641.52 9.4 % 132.77 91.4 % 117.94 106.6 % 0.45
Q2 2013 685.67 50.1 % 150.60 122.0 % 136.67 153.7 % 0.53
Q3 2013 694.25 6.9 % 154.12 34.3 % 140.96 40.6 % 0.54

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
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 27.86 % 34.47 % 23.67 %
Q3 2008 31.87 % 37.22 % 28.55 %
Q4 2008 19.16 % 25.06 % 14.40 %
Q1 2009 18.76 % 25.27 % 13.84 %
Q2 2009 16.99 % 24.08 % 11.43 %
Q3 2009 8.20 % 17.20 % 1.45 %
Q4 2009 14.86 % 24.34 % 8.67 %
Q1 2010 14.32 % 23.63 % 8.76 %
Q2 2010 14.64 % 23.92 % 10.04 %
Q3 2010 18.37 % 27.17 % 14.45 %
Q4 2010 19.47 % 28.05 % 16.17 %
Q1 2011 21.10 % 29.07 % 18.21 %
Q2 2011 22.17 % 29.22 % 19.69 %
Q3 2011 21.27 % 27.74 % 18.96 %
Q4 2011 20.63 % 26.92 % 18.37 %
Q1 2012 18.45 % 24.84 % 16.19 %
Q2 2012 16.41 % 22.93 % 13.90 %
Q3 2012 15.36 % 22.01 % 12.81 %
Q4 2012 15.63 % 21.99 % 13.28 %
Q1 2013 17.80 % 24.04 % 15.39 %
Q2 2013 19.32 % 25.56 % 17.12 %
Q3 2013 20.42 % 26.53 % 18.30 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 - - - -
Q2 2004 - - - -
Q3 2004 - - - -
Q4 2004 - - - -
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
Q1 2006 - - - -
Q2 2006 260.00 - - 2.89
Q3 2006 - - - -
Q4 2006 260.00 - - 5.44
Q1 2007 260.00 - - 5.45
Q2 2007 260.00 - - 5.45
Q3 2007 260.00 0.02 0.02 5.45
Q4 2007 260.00 0.01 0.01 5.45
Q1 2008 260.00 0.00 0.00 5.45
Q2 2008 260.00 0.29 0.29 5.73
Q3 2008 260.00 1.10 1.10 6.52
Q4 2008 260.00 0.81 0.81 6.22
Q1 2009 260.00 0.97 0.97 6.38
Q2 2009 260.00 0.81 0.81 6.51
Q3 2009 260.00 0.09 0.09 6.32
Q4 2009 260.00 0.49 0.49 6.42
Q1 2010 260.00 0.53 0.53 6.35
Q2 2010 260.00 0.64 0.64 6.19
Q3 2010 260.00 1.03 1.03 6.64
Q4 2010 260.00 1.26 1.26 6.97
Q1 2011 260.00 1.56 1.56 6.91
Q2 2011 260.00 1.91 1.91 6.95
Q3 2011 260.00 1.97 1.97 7.46
Q4 2011 260.00 1.97 1.97 7.80
Q1 2012 260.00 1.69 1.69 7.47
Q2 2012 260.00 1.30 1.30 7.04
Q3 2012 260.00 1.16 1.16 7.42
Q4 2012 260.00 1.26 1.26 7.86
Q1 2013 260.00 1.50 1.50 7.67
Q2 2013 260.00 1.81 1.81 7.55
Q3 2013 260.00 1.97 1.97 8.08

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 - - -
Q2 2004 - - -
Q3 2004 - - -
Q4 2004 - - -
Q1 2005 - - -
Q2 2005 - - -
Q3 2005 - - -
Q4 2005 - - -
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - 2.17
Q2 2007 - - 2.22
Q3 2007 More than 50 More than 50 3.52
Q4 2007 More than 50 More than 50 4.82
Q1 2008 More than 50 More than 50 4.94
Q2 2008 More than 50 More than 50 5.44
Q3 2008 17.14 17.14 2.90
Q4 2008 10.36 10.36 1.35
Q1 2009 9.53 9.53 1.45
Q2 2009 17.36 17.36 2.17
Q3 2009 More than 50 More than 50 2.28
Q4 2009 27.69 27.69 2.11
Q1 2010 23.72 23.72 1.97
Q2 2010 17.36 17.36 1.81
Q3 2010 10.46 10.46 1.62
Q4 2010 11.71 11.71 2.12
Q1 2011 10.74 10.74 2.43
Q2 2011 9.73 9.73 2.67
Q3 2011 7.93 7.93 2.09
Q4 2011 7.89 7.89 1.99
Q1 2012 11.70 11.70 2.64
Q2 2012 12.21 12.21 2.25
Q3 2012 14.13 14.13 2.21
Q4 2012 13.09 13.09 2.10
Q1 2013 12.31 12.31 2.40
Q2 2013 11.05 11.05 2.66
Q3 2013 10.69 10.69 2.61

Current
Market Cap (M Riyal) 10,413.00
Enterprise Value (EV) (M) 16,775.77
Shares Outstanding ((M)) 260.00
EPS ( Riyal) (TTM) 0.27
Book Value (BV) ( Riyal) 12.39
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 50
P/E (TTM) More than 50
Price/book 3.23
Return on Average Assets (%) (TTM) 0.7
Return on Average Equity (%) (TTM) 2.2

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