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Profit of Saudi petchem firms 2% above estimates in Q3
12/11/2018
Argaam Exclusive
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The aggregate net profit of Saudi petrochemical producers – which came in at SAR 9.31 billion in Q3 2018 – beat average analysts’ forecasts of SAR 9.15 billion by 2 percent, data compiled by Argaam showed.
Saudi Basic Industries Corp (SABIC) posted net profit of SAR 6.10 billion in Q3, exceeding average estimates of SAR 5.91 billion by 3 percent.
National Petrochemical Co. (Petrochem) and Sahara Petrochemical Co. the biggest earnings beat at 26 percent and 21 percent, respectively.
Company Estimates Comparisons
| Company | 2018 - Q3 (net income) | 2018 - Q3 (e) | Change |
| SABIC | 6,097.89 | 5,912.33 | 3.1 % |
| SABIC AGRI-NUTRIENTS | 522.24 | 503.05 | 3.8 % |
| YANSAB | 729.02 | 693.82 | 5.1 % |
| TASNEE | 259.37 | 344.60 | (24.7 %) |
| SAUDI KAYAN | 471.91 | 590.78 | (20.1 %) |
| Petrochem | 307.41 | 244.06 | 26.0 % |
| Sahara Petrochemicals | 168.51 | 138.90 | 21.3 % |
| SIIG | 318.77 | 271.67 | 17.3 % |
| ALUJAIN | 27.59 | 45.50 | (39.4 %) |
| ADVANCED | 202.20 | 218.00 | (7.2 %) |
| CHEMANOL | 22.45 | 30.00 | (25.2 %) |
| Total | 9127.37 | 8992.71 | 1.5 % |
Actual Profit versus Estimates
| Company | 2018 - Q3 (net income) | 2018 - Q3 (e) | Most Accurate Research Company |
| SABIC | 6,097.89 | 6,000.00 | OSOOL AND BAKHEET |
| SABIC AGRI-NUTRIENTS | 522.24 | 539.00 | SNB Capital |
| YANSAB | 729.02 | 746.90 | AlJazira Capital |
| TASNEE | 259.37 | 322.00 | SNB Capital |
| SAUDI KAYAN | 471.91 | 501.00 | Sico |
| Petrochem | 307.41 | 270.30 | AlJazira Capital |
| Sahara Petrochemicals | 168.51 | 150.00 | OSOOL AND BAKHEET |
| SIIG | 318.77 | 313.00 | SNB Capital |
| ALUJAIN | 27.59 | 41.00 | Sico |
| ADVANCED | 202.20 | 212.00 | Al Rajhi Capital |
| CHEMANOL | 22.45 | 30.00 | OSOOL AND BAKHEET |
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MarketIndices
| TASI | 11,007.27 | (8.45) | (0.08 %) |
Company Indices
| ALUJAIN | 28.82 | (0.24) | (0.83%) |
| TASNEE | 9.12 | 0.02 | 0.22% |
| NAMA CHEMICALS | 18.72 | (0.25) | (1.32%) |
| SABIC | 49.70 | 0.32 | 0.65% |
| SABIC AGRI-NUTRIENTS | 126.50 | 1.10 | 0.87% |
| Sahara Petrochemicals | 17.46 | 0.20 | 1.16% |
| SIIG | 12.31 | (0.18) | (1.44%) |
| YANSAB | 34.28 | (0.04) | (0.12%) |
| SIPCHEM | 13.12 | (0.02) | (0.15%) |
| SAUDI KAYAN | 5.38 | (0.07) | (1.28%) |
| CHEMANOL | 29.00 | (0.02) | (0.07%) |
| PETRO RABIGH | 18.21 | 0.29 | 1.60% |
| Petrochem | 45.60 | (0.60) | (1.30%) |
| ADVANCED | 23.38 | (0.36) | (1.51%) |
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