Petrochem 2021 net profit soars to SAR 1.367 bln

26/01/2022 Argaam Exclusive

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Share Price

National Petrochemical Co. (Petrochem) reported a surge in its 2021 net profit after Zakat and tax to SAR 1.367 billion, compared to SAR 229.8 million a year earlier. The strong rise was spurred by an increase in the company’s profit share from its jointly-managed projects amid higher product prices.

In addition, Zakat expenses declined.

Financials (M)

Item	2020	2021	Change‬
Operating Income	(24.55)	(30.93)	(26.0 %)
Net Income	229.77	1,366.80	494.9 %
Average Shares	480.00	480.00	-
EPS (Riyals)	0.48	2.85	494.9 %

Petrochem’s Q4 2021 net profit after Zakat and tax dropped 17% to SAR 209 million, from SAR 251.5 million in the year-ago period, on higher feedstock costs and Zakat charges.

On a quarterly basis, net profit dropped 14.3% from SAR 243.79 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Operating Income	(11.13)	(12.13)	(8.9 %)
Net Income	251.52	209.18	(16.8 %)
Average Shares	480.00	480.00	-
EPS (Riyals)	0.52	0.44	(16.8 %)

Item	Q3 2021	Q4 2021	Change‬
Operating Income	(7.40)	(12.13)	(63.9 %)
Net Income	243.79	209.18	(14.2 %)
Average Shares	480.00	480.00	-
EPS (Riyals)	0.51	0.44	(14.2 %)

Total shareholders equity, after minority interest, grew by 12.49% to SAR 9.13 billion in 2021, from SAR 8.116 billion a year earlier.

View more financial results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2012	-	-	-	-	(21.63)	(105.6 %)	(0.05)
Q2 2012	-	-	-	-	(35.79)	(189.4 %)	(0.07)
Q3 2012	-	-	-	-	(0.13)	99.0 %	0.00
Q4 2012	857.88	-	(478.86)	-	(405.99)	(1,318.2 %)	(0.85)
2012	857.88	-	(478.86)	-	(463.54)	(623.1 %)	(0.97)
Q1 2013	689.10	-	172.39	-	(1.33)	93.8 %	0.00
Q2 2013	1,144.23	-	222.85	-	10.84	130.3 %	0.02
Q3 2013	1,117.37	-	(38.76)	-	(150.21)	(120,064.0 %)	(0.31)
Q4 2013	1,485.98	73.2 %	370.03	177.3 %	74.57	118.4 %	0.16
2013	4,436.68	417.2 %	726.52	251.7 %	(66.13)	85.7 %	(0.14)
Q1 2014	1,709.95	148.1 %	456.16	164.6 %	141.02	10678.9 %	0.29
Q2 2014	1,965.81	71.8 %	560.99	151.7 %	197.03	1717.8 %	0.41
Q3 2014	1,952.47	74.7 %	668.53	1824.8 %	244.19	262.6 %	0.51
Q4 2014	2,230.28	50.1 %	613.39	65.8 %	192.53	158.2 %	0.40
2014	7,858.52	77.1 %	2,299.06	216.5 %	774.45	1271.1 %	1.61
Q1 2015	1,770.75	3.6 %	439.57	(3.6 %)	101.84	(27.8 %)	0.21
Q2 2015	1,967.02	0.1 %	738.14	31.6 %	305.39	55.0 %	0.64
Q3 2015	1,911.70	(2.1 %)	757.82	13.4 %	321.10	31.5 %	0.67
Q4 2015	1,654.69	(25.8 %)	546.25	(10.9 %)	178.30	(7.4 %)	0.37
2015	7,304.17	(7.1 %)	2,481.77	7.9 %	906.89	17.1 %	1.89
Q1 2016	1,659.96	(6.3 %)	425.14	(3.3 %)	121.43	19.2 %	0.25
Q2 2016	1,642.22	(16.5 %)	573.53	(22.3 %)	208.01	(31.9 %)	0.43
Q3 2016	1,601.00	(16.3 %)	558.40	(26.3 %)	191.61	(40.3 %)	0.40
Q4 2016	1,163.33	(29.7 %)	51.92	(90.5 %)	(123.68)	(169.4 %)	(0.26)
2016	6,066.51	(16.9 %)	1,608.99	(35.2 %)	397.37	(56.2 %)	0.83
Q1 2017	1,685.27	1.5 %	502.40	18.2 %	167.90	38.3 %	0.35
Q2 2017	1,754.11	6.8 %	420.83	(26.6 %)	132.28	(36.4 %)	0.28
Q3 2017	1,755.30	9.6 %	552.10	(1.1 %)	196.94	2.8 %	0.41
Q4 2017	2,169.13	86.5 %	788.19	1418.0 %	391.19	416.3 %	0.81
2017	7,363.81	21.4 %	2,263.52	40.7 %	888.30	123.5 %	1.85
Q1 2018	2,210.53	31.2 %	763.14	51.9 %	333.94	98.9 %	0.70
Q2 2018	2,239.39	27.7 %	739.23	75.7 %	288.02	117.7 %	0.60
Q3 2018	2,297.25	30.9 %	735.97	33.3 %	307.41	56.1 %	0.64
Q4 2018	2,183.25	0.7 %	447.12	(43.3 %)	236.02	(39.7 %)	0.49
2018	8,930.41	21.3 %	2,685.46	18.6 %	1,165.38	31.2 %	2.43
Q1 2019	2,020.11	(8.6 %)	525.76	(31.1 %)	187.24	(43.9 %)	0.39
Q2 2019	1,650.76	(26.3 %)	452.25	(38.8 %)	183.45	(36.3 %)	0.38
Q3 2019	1,957.97	(14.8 %)	495.12	(32.7 %)	171.05	(44.4 %)	0.36
Q4 2019	1,869.64	(14.4 %)	410.15	(8.3 %)	132.73	(43.8 %)	0.28
2019	7,655.53	(14.3 %)	1,883.26	(29.9 %)	674.47	(42.1 %)	1.41
Q1 2020	1,572.92	(22.1 %)	249.89	(52.5 %)	50.22	(73.2 %)	0.10
Q2 2020	1,407.06	(14.8 %)	132.56	(70.7 %)	(188.92)	(203.0 %)	(0.39)
Q3 2020	-	-	-	-	116.95	(31.6 %)	0.24
Q4 2020	-	-	-	-	251.52	89.5 %	0.52
2020	-	-	-	-	229.77	(65.9 %)	0.48
Q1 2021	-	-	-	-	310.75	518.8 %	0.65
Q2 2021	-	-	-	-	603.09	419.2 %	1.26
Q3 2021	-	-	-	-	243.79	108.5 %	0.51
Q4 2021	-	-	-	-	209.18	(16.8 %)	0.44
2021	-	-	-	-	1,366.80	494.9 %	2.85

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2012	857.88	-	(478.86)	-	(463.54)	(623.1 %)	(0.97)
2013	4,436.68	417.2 %	726.52	251.7 %	(66.13)	85.7 %	(0.14)
2014	7,858.52	77.1 %	2,299.06	216.5 %	774.45	1271.1 %	1.61
2015	7,304.17	(7.1 %)	2,481.77	7.9 %	906.89	17.1 %	1.89
2016	6,066.51	(16.9 %)	1,608.99	(35.2 %)	397.37	(56.2 %)	0.83
2017	7,363.81	21.4 %	2,263.52	40.7 %	888.30	123.5 %	1.85
2018	8,930.41	21.3 %	2,685.46	18.6 %	1,165.38	31.2 %	2.43
2019	7,655.53	(14.3 %)	1,883.26	(29.9 %)	674.47	(42.1 %)	1.41
2020	-	-	-	-	229.77	(65.9 %)	0.48
2021	-	-	-	-	1,366.80	494.9 %	2.85

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	(55.82 %)	(56.03 %)	(54.03 %)
2012	(55.82 %)	(56.03 %)	(54.03 %)
Q1 2013	(19.81 %)	(12.88 %)	(28.65 %)
Q2 2013	(3.11 %)	5.55 %	(14.74 %)
Q3 2013	(3.21 %)	5.64 %	(14.35 %)
Q4 2013	16.38 %	22.19 %	(1.49 %)
2013	16.38 %	22.19 %	(1.49 %)
Q1 2014	18.51 %	22.23 %	1.40 %
Q2 2014	21.47 %	23.54 %	4.18 %
Q3 2014	28.90 %	29.39 %	9.23 %
Q4 2014	29.26 %	29.67 %	9.86 %
2014	29.26 %	29.66 %	9.85 %
Q1 2015	28.82 %	28.79 %	9.29 %
Q2 2015	31.05 %	31.20 %	10.66 %
Q3 2015	32.35 %	33.43 %	11.69 %
Q4 2015	33.98 %	35.38 %	12.41 %
2015	33.98 %	35.38 %	12.42 %
Q1 2016	34.30 %	36.58 %	12.88 %
Q2 2016	33.53 %	36.34 %	12.07 %
Q3 2016	32.07 %	35.00 %	10.66 %
Q4 2016	26.52 %	30.44 %	6.55 %
2016	26.52 %	30.44 %	6.55 %
Q1 2017	27.68 %	31.99 %	7.29 %
Q2 2017	24.72 %	29.22 %	5.93 %
Q3 2017	24.02 %	28.93 %	5.87 %
Q4 2017	30.74 %	34.49 %	11.18 %
2017	30.74 %	34.49 %	11.18 %
Q1 2018	32.00 %	35.27 %	12.54 %
Q2 2018	33.94 %	36.82 %	13.67 %
Q3 2018	33.94 %	36.32 %	14.08 %
Q4 2018	30.07 %	34.98 %	10.96 %
2018	30.07 %	34.98 %	10.96 %
Q1 2019	28.01 %	33.04 %	9.52 %
Q2 2019	26.51 %	32.32 %	8.92 %
Q3 2019	24.58 %	30.68 %	7.56 %
Q4 2019	25.12 %	28.97 %	8.99 %
2019	24.60 %	28.38 %	8.81 %
Q1 2020	22.80 %	27.32 %	7.62 %
Q2 2020	18.92 %	23.79 %	6.16 %
Q3 2020	16.34 %	26.43 %	7.53 %
Q4 2020	12.83 %	-	16.23 %
2020	-	-	-
Q1 2021	9.42 %	-	52.90 %
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	-	-	-

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	(55.82 %)	(56.03 %)	(54.03 %)
2013	16.38 %	22.19 %	(1.49 %)
2014	29.26 %	29.66 %	9.85 %
2015	33.98 %	35.38 %	12.42 %
2016	26.52 %	30.44 %	6.55 %
2017	30.74 %	34.49 %	11.18 %
2018	30.07 %	34.98 %	10.96 %
2019	24.60 %	28.38 %	8.81 %
2020	-	-	-
2021	-	-	-

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	-	-	-
Q2 2012	-	-	-
Q3 2012	-	-	-
Q4 2012	(55.82 %)	(44.74 %)	(47.32 %)
Q1 2013	25.02 %	37.57 %	(0.19 %)
Q2 2013	19.48 %	26.81 %	0.95 %
Q3 2013	(3.47 %)	2.95 %	(13.44 %)
Q4 2013	24.90 %	25.97 %	5.02 %
Q1 2014	26.68 %	28.53 %	8.25 %
Q2 2014	28.54 %	29.07 %	10.02 %
Q3 2014	34.24 %	33.07 %	12.51 %
Q4 2014	27.50 %	28.09 %	8.63 %
Q1 2015	24.82 %	24.66 %	5.75 %
Q2 2015	37.53 %	38.77 %	15.53 %
Q3 2015	39.64 %	42.28 %	16.80 %
Q4 2015	33.01 %	34.86 %	10.78 %
Q1 2016	25.61 %	29.14 %	7.32 %
Q2 2016	34.92 %	38.21 %	12.67 %
Q3 2016	34.88 %	37.92 %	11.97 %
Q4 2016	4.46 %	11.05 %	(10.63 %)
Q1 2017	29.81 %	34.75 %	9.96 %
Q2 2017	23.99 %	28.01 %	7.54 %
Q3 2017	31.45 %	36.11 %	11.22 %
Q4 2017	36.34 %	38.21 %	15.04 %
Q1 2018	34.52 %	37.49 %	15.11 %
Q2 2018	33.01 %	35.38 %	12.86 %
Q3 2018	32.04 %	34.32 %	13.38 %
Q4 2018	20.48 %	32.74 %	2.25 %
Q1 2019	26.03 %	29.33 %	9.27 %
Q2 2019	27.40 %	32.65 %	11.11 %
Q3 2019	25.29 %	28.14 %	8.74 %
Q4 2019	21.94 %	26.21 %	7.10 %
Q1 2020	15.89 %	22.03 %	3.19 %
Q2 2020	9.42 %	16.50 %	4.63 %
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2012	480.00	(0.16)	(0.16)	9.64
Q2 2012	480.00	(0.21)	(0.21)	9.57
Q3 2012	480.00	(0.18)	(0.18)	9.57
Q4 2012	480.00	(0.97)	(0.97)	8.72
Q1 2013	480.00	(0.92)	(0.92)	8.72
Q2 2013	480.00	(0.83)	(0.83)	8.74
Q3 2013	480.00	(1.14)	(1.14)	8.43
Q4 2013	480.00	(0.14)	(0.14)	8.59
Q1 2014	480.00	0.16	0.16	8.88
Q2 2014	480.00	0.55	0.55	9.29
Q3 2014	480.00	1.37	1.37	9.80
Q4 2014	480.00	1.61	1.61	10.20
Q1 2015	480.00	1.53	1.53	10.41
Q2 2015	480.00	1.76	1.76	11.05
Q3 2015	480.00	1.92	1.92	11.72
Q4 2015	480.00	1.89	1.89	12.09
Q1 2016	480.00	1.93	1.93	12.27
Q2 2016	480.00	1.73	1.73	12.70
Q3 2016	480.00	1.46	1.46	13.10
Q4 2016	480.00	0.83	0.83	12.83
Q1 2017	480.00	0.92	0.92	13.18
Q2 2017	480.00	0.77	0.77	12.95
Q3 2017	480.00	0.78	0.78	13.36
Q4 2017	480.00	1.85	1.72	14.16
Q1 2018	480.00	2.20	2.06	14.86
Q2 2018	480.00	2.52	2.39	14.96
Q3 2018	480.00	2.75	2.62	15.60
Q4 2018	480.00	2.43	2.04	16.13
Q1 2019	480.00	2.12	1.73	16.52
Q2 2019	480.00	1.90	1.52	16.40
Q3 2019	480.00	1.62	1.23	16.75
Q4 2019	480.00	1.41	1.41	16.97
Q1 2020	480.00	1.12	1.12	17.08
Q2 2020	480.00	0.34	0.87	16.19
Q3 2020	480.00	0.23	0.76	16.43
Q4 2020	480.00	0.48	1.01	16.91
Q1 2021	480.00	1.02	1.55	17.56
Q2 2021	480.00	2.67	2.67	18.06
Q3 2021	480.00	2.94	2.94	18.57
Q4 2021	480.00	2.85	2.85	19.02

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	480.00	(0.97)	(0.97)	8.72
2013	480.00	(0.14)	(0.14)	8.59
2014	480.00	1.61	1.61	10.20
2015	480.00	1.89	1.89	12.09
2016	480.00	0.83	0.83	12.83
2017	480.00	1.85	1.72	14.16
2018	480.00	2.43	2.04	16.13
2019	480.00	1.41	1.41	16.97
2020	480.00	0.48	1.01	16.91
2021	480.00	2.85	2.85	19.02

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2012	NEG	NEG	2.70
Q2 2012	NEG	NEG	2.08
Q3 2012	NEG	NEG	2.29
Q4 2012	NEG	NEG	2.29
Q1 2013	NEG	NEG	2.33
Q2 2013	NEG	NEG	2.60
Q3 2013	NEG	NEG	2.49
Q4 2013	NEG	NEG	2.98
Q1 2014	More than 50	More than 50	3.18
Q2 2014	More than 50	More than 50	3.51
Q3 2014	26.09	26.09	3.64
Q4 2014	13.57	13.57	2.15
Q1 2015	14.36	14.36	2.11
Q2 2015	14.21	14.21	2.26
Q3 2015	9.67	9.67	1.58
Q4 2015	8.84	8.84	1.38
Q1 2016	8.60	8.60	1.35
Q2 2016	9.82	9.82	1.33
Q3 2016	10.00	10.00	1.11
Q4 2016	25.66	25.66	1.66
Q1 2017	22.05	22.05	1.55
Q2 2017	23.58	23.58	1.40
Q3 2017	23.39	23.39	1.36
Q4 2017	10.01	10.80	1.31
Q1 2018	11.25	11.99	1.66
Q2 2018	11.82	12.49	1.99
Q3 2018	10.12	10.65	1.79
Q4 2018	10.01	11.92	1.51
Q1 2019	12.79	15.67	1.64
Q2 2019	13.09	16.45	1.52
Q3 2019	14.69	19.33	1.42
Q4 2019	16.90	16.90	1.40
Q1 2020	16.67	16.67	1.09
Q2 2020	More than 50	27.60	1.49
Q3 2020	More than 50	39.13	1.81
Q4 2020	More than 50	32.99	1.97
Q1 2021	42.39	27.92	2.47
Q2 2021	16.47	16.47	2.44
Q3 2021	17.03	17.03	2.69
Q4 2021	14.05	14.05	2.10

Period	P/E	Adjusted P/E	Price/book
2012	NEG	NEG	2.29
2013	NEG	NEG	2.98
2014	13.57	13.57	2.15
2015	8.84	8.84	1.38
2016	25.66	25.66	1.66
2017	10.01	10.80	1.31
2018	10.01	11.92	1.51
2019	16.90	16.90	1.40
2020	More than 50	32.99	1.97
2021	14.05	14.05	2.10

Analysts Estimates (Million)

Item	Q4 2021 (e)	Q4 2021 (a)	Change‬
Average	270.00	209.18	(22.5 %)

Estimates vs Actual (Million)

Item	Q4 2021 (e)	Q4 2021 (a)	Change
Riyad Capital	259.00	209.18	(19.2) %
SNB Capital	281.00	209.18	(25.6) %

Financial Ratios

	Current
Market Cap (M Riyal)	21,816.00
Enterprise Value (EV) (M)	-
Shares Outstanding ((M))	480.00
EPS ( Riyal) (TTM)	2.85
Book Value (BV) ( Riyal)	19.02
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	15.96
P/E (TTM)	15.96
Price/book	2.39
Return on Average Assets (%) (TTM)	15.3
Return on Average Equity (%) (TTM)	15.9

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Petrochem 2021 net profit soars to SAR 1.367 bln

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Share Price

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

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Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Petrochem 2021 net profit soars to SAR 1.367 bln

View other reports

Share Price

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Comments {{getCommentCount()}}

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