Sign In
×Saudi petchem firms’ Q2 profit expected to fall 10%
Saudi-listed petrochemical producers are forecast to report an average 9.6 percent year-on-year (YoY) decline in Q2-2017 net profit to SAR 6.14 billion, based on estimates from investment firms compiled by Argaam.
When compared to Q1-2017, aggregate net earnings are expected to drop 14.7 percent.
Eight out of 13 firms are projected to report lower profit.
Alujain Corp and National Petrochemical Co. (Petrochem) are likely to report the biggest profit falls of 89 percent and 49 percent YoY, respectively.
Yanbu National Petrochemical Co. (Yansab) followed with a projected drop of 33 percent.
Giant petrochemical producer Saudi Basic Industries Corp (SABIC) will likely see its profit fall 1.4 percent YoY.
Meanwhile, Saudi Kayan Petrochemical Co. and Saudi International Petrochemical Co. (Sipchem) are projected to report profit surge of 111 percent and 49 percent YoY, respectively.
Methanol Chemicals Co. (Chemanol) will likely widen Q2 net losses to SAR 17 million, compared to net losses of SAR 3.58 million in the second quarter of 2016.
Rabigh Refining and Petrochemical Co. (Petro Rabigh) is also expected to swing to a net loss of SAR 111 million, compared to net profit of SAR 103 million in Q2-2016.
Company | No. of Analysts | 2016 - Q2 (a) | 2017 - Q2 (e) | Difference |
SABIC | 10 | 4,958.84 | 4,670.01 | (5.8 %) |
SABIC AGRI-NUTRIENTS | 10 | 302.32 | 285.41 | (5.6 %) |
YANSAB | 10 | 747.34 | 447.34 | (40.1 %) |
SIPCHEM | 7 | 11.37 | 36.49 | 220.9 % |
Sahara Petrochemical | 6 | 103.39 | 89.98 | (13.0 %) |
TASNEE | 5 | 87.54 | 123.30 | 40.8 % |
SAUDI KAYAN | 5 | 97.31 | 192.02 | 97.3 % |
SIIG | 4 | 151.47 | 158.00 | 4.3 % |
Petrochem | 4 | 208.01 | 107.33 | (48.4 %) |
ADVANCED | 4 | 192.11 | 159.75 | (16.8 %) |
ALUJAIN | 2 | 38.61 | 4.05 | (89.5 %) |
CHEMANOL | 2 | 0.08 | (17.00) | (21350.0 %) |
PETRO RABIGH | 2 | 101.00 | (111.00) | (209.9 %) |
Total | 10 | 6,999.38 | 6145.67 | (12.2 %) |
Advanced Petrochemical Co.’s (Advanced) Q2 net profit of SAR 194 million came ahead of average estimates by 21 percent, data showed.
NCB Capital, Bahrain-based SICO and HSBC Saudi Arabia each provided estimates for 10 firms, while KASB Capital and Albilad Capital covered four firms each.
Estimates per Analyst
Most Read
Market Index
TASI | 11,659.94 | (171.28) | (1.45 %) |
Stock Prices
ALUJAIN | 40.45 | (0.05) | (0.12%) |
TASNEE | 11.44 | (0.44) | (3.72%) |
NAMA CHEMICALS | 27.90 | (0.20) | (0.71%) |
SABIC | 75.70 | (1.20) | (1.57%) |
SABIC AGRI-NUTRIENTS | 107.80 | (0.40) | (0.37%) |
Sahara Petrochemical | 17.46 | 0.20 | 1.16% |
SIIG | 21.02 | (0.18) | (0.84%) |
YANSAB | 36.05 | (0.65) | (1.78%) |
SIPCHEM | 30.50 | (0.50) | (1.62%) |
SAUDI KAYAN | 7.94 | (0.23) | (2.82%) |
CHEMANOL | 15.70 | (0.24) | (1.51%) |
PETRO RABIGH | 6.89 | (0.05) | (0.72%) |
Petrochem | 45.60 | (0.60) | (1.30%) |
ADVANCED | 39.65 | (0.10) | (0.25%) |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}