Luberef 2022 profit up 32% to SAR 1.97 bln; Q4 at SAR 763.2 mln

19/02/2023 Argaam Exclusive

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Saudi Aramco Base Oil Co. (Luberef) posted a 32% leap in net profit after Zakat and tax to SAR 1.97 billion for 2022, compared to SAR 1.50 billion in 2021.



Financials (M)

Item 2021 2022 Change‬
Revenues 8,846.73 10,613.89 20.0 %
Gross Income 2,041.78 2,433.69 19.2 %
Operating Income 1,748.26 2,190.09 25.3 %
Net Income 1,502.52 1,978.08 31.7 %
Average Shares 168.75 168.75 -
Earnings Per Share before unusual items (Riyals) 8.90 11.37 27.6 %
EPS (Riyals) 8.90 11.72 31.7 %

The strong earnings were backed by an increase in base oil and by-products crack margins, in addition to better sales volumes.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 2,415.94 1,808.83 (25.1 %)
Gross Income 337.74 683.98 102.5 %
Operating Income 250.48 660.98 163.9 %
Net Income 220.81 763.19 245.6 %
Average Shares 168.75 168.75 -
Earnings Per Share before unusual items (Riyals) 1.31 3.37 157.7 %
EPS (Riyals) 1.31 4.52 245.6 %

The fourth-quarter net profit more than tripled to SAR 763.19 million, from SAR 220.81 million in Q4 2021.

 

Compared to the previous quarter, net profit climbed 60.7% from SAR 474.79 million.

 

Shareholders’ equity, no minority interest, grew to SAR 5.08 billion as of Dec. 31, 2022, from SAR 4.24 billion a year earlier.

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Share Price

Saudi Aramco Base Oil Co.
98.70
(0.60) (0.60 %)

Saudi Aramco Base Oil Co. (LUBEREF)

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Financial Ratios
Current
Market Cap (M Riyal) 16,655.63
Enterprise Value (EV) (M) 16,369.66
Shares Outstanding ((M)) 168.75
EPS ( Riyal) (TTM) 5.76
Book Value (BV) ( Riyal) 26.06
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 17.46
P/E (TTM) 17.13
Price/book 3.79
Return on Average Assets (%) (TTM) 11.7
Return on Average Equity (%) (TTM) 21.0
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