Saudi Aramco’s profit soars 86% to SAR 315.8 bln in H1 2022; Q2 at SAR 173.8 bln

14/08/2022 Argaam Exclusive

Saudi Arabian Oil Co. (Saudi Aramco) reported an 86% surge in H1 2022 net profit after minority interest to SAR 315.8 billion, compared to SAR 169.5 billion a year earlier, backed by higher crude oil prices and volumes sold, as well as better downstream margins. 

Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 650,107.00 1,165,270.00 79.2 %
Gross Income 400,611.00 690,765.00 72.4 %
Operating Income 331,002.00 602,194.00 81.9 %
Net Income 169,492.00 315,807.00 86.3 %
Average Shares 242,000.00 242,000.00 -
EPS (Riyals) 0.70 1.30 86.3 %

In Q2 2022, net profit after Zakat and tax soared 91% to SAR 173.8 billion, from SAR 90.9 billion on higher crude oil prices and volumes sold, as well as improved refining margins. 

Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 349,950.00 648,373.00 85.3 %
Gross Income 215,179.00 371,593.00 72.7 %
Operating Income 179,115.00 324,489.00 81.2 %
Net Income 90,902.00 173,795.00 91.2 %
Average Shares 242,000.00 242,000.00 -
EPS (Riyals) 0.38 0.72 91.2 %

On a sequential basis, the second-quarter net profit rose by 22.4% from SAR 142.01 billion. 

 

Shareholders’ equity, after minority interest, increased by 26.48% to SAR 1.302 trillion as of June 30, 2022, from SAR 1.029 trillion a year earlier.

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Share Price

Saudi Arabian Oil Company
32.55
(0.05) (0.15 %)

Saudi Arabian Oil Company (Saudi Aramco)

Financial Ratios
Current
Market Cap (M Riyal) 7,877,100.00
Enterprise Value (EV) (M) 7,888,169.00
Shares Outstanding ((M)) 242,000.00
EPS ( Riyal) (TTM) 2.37
Book Value (BV) ( Riyal) 6.16
Par Value 0.00
Adjusted P/E (Last12) 13.95
P/E (TTM) 13.75
Price/book 5.28
Return on Average Assets (%) (TTM) 23.7
Return on Average Equity (%) (TTM) 42.6
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