Petro Rabigh deepens losses to SAR 1.36B in Q1 2024

14/05/2024 Argaam Exclusive

Rabigh Refining and Petrochemical Co. (Petro Rabigh) extended its losses to SAR 1.36 billion in the first quarter of 2024, from SAR 964 million in Q1 2023.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 10,980.50 7,983.99 (27.3 %)
Gross Income (127.61) (505.02) (295.8 %)
Operating Income (534.63) (867.66) (62.3 %)
Net Income (964.11) (1365.01) (41.6 %)
Average Shares 1,671.00 1,671.00 -
EPS (Riyals) (0.58) (0.82) (41.6 %)

The deeper losses came on the back of lower sales volumes primarily due to the unplanned shutdown of the High Olefins Fluid Catalytic Cracker units from Dec. 20, 2023, to Feb. 29, 2024, for necessary repairs and maintenance.

 

This is in addition to lower margins on refined products and higher finance costs due to increase in interest rates.

 

Compared to Q4 2023, the first-quarter net losses shrank by 1.6% from SAR 1.38 billion, thanks to improved profit margins on products.

 

Total shareholders’ equity, no minority interest, reached SAR 9.18 billion as of March 31, 2024, compared with SAR 14.29 billion a year earlier.

View More Financial Results

 

View other reports

Share Price

Rabigh Refining and Petrochemical Co.
8.16
(0.08) (0.97 %)

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

More


Financial Ratios
Current
Market Cap (M Riyal) 13,635.36
Enterprise Value (EV) (M) 38,306.94
Shares Outstanding ((M)) 1,671.00
EPS ( Riyal) (TTM) (2.99)
Book Value (BV) ( Riyal) 6.53
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.25
Return on Average Assets (%) (TTM) (7.79 )
Return on Average Equity (%) (TTM) (41.63 )
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request