Financial Results : SARCO posts SAR 17.2 mln net profit in FY2019

SARCO posts SAR 17.2 mln net profit in FY2019

12/03/2020 Argaam Exclusive

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Saudi Arabia Refineries Co. (SARCO) reported a net profit after Zakat and tax of SAR 17.2 million for the fiscal year of 2019, an increase of 18% year-on-year (YoY), from SAR 14.6 million a year ealier.

 

The profit increase was driven by SAR 22.79 million in dividends from its affiliate Saudi Industrial Investment Co.



Financials (M)

Item 2018 2019 Change‬
Operating Income (3.17) (3.14) 1.0 %
Net Income 14.56 17.17 18.0 %
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyals) 0.97 1.14 18.0 %
EPS (Riyal) 0.97 1.14 18.0 %

In Q4 2019, net profit edged down 3% YoY to SAR 9 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2018 Q4 2019 Change‬
Operating Income (1.04) (1.39) (33.4 %)
Net Income 9.37 9.04 (3.5 %)
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyal) 0.62 0.60 (3.5 %)
EPS (Riyal) 0.62 0.60 (3.5 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2010 - - - - (0.70) (21.2 %)
Q2 2010 - - - - (0.30) 16.2 %
Q3 2010 - - - - (0.32) (161.5 %)
Q4 2010 - - - - (0.24) (5.8 %)
Q1 2011 - - - - (0.73) (5.2 %)
Q2 2011 - - - - (0.35) (15.9 %)
Q3 2011 - - - - (0.27) 15.4 %
Q4 2011 - - - - (0.89) (275.1 %)
Q1 2012 - - - - (0.73) 1.1 %
Q2 2012 - - - - (0.37) (5.7 %)
Q3 2012 - - - - (0.49) (82.6 %)
Q4 2012 - - - - (0.81) 8.4 %
Q1 2013 - - - - (0.66) 8.5 %
Q2 2013 - - - - (0.66) (79.7 %)
Q3 2013 - - - - (0.55) (12.2 %)
Q4 2013 - - - - (1.27) (56.5 %)
Q1 2014 - - - - (0.80) (20.5 %)
Q2 2014 - - - - (0.82) (24.1 %)
Q3 2014 - - - - (0.33) 41.2 %
Q4 2014 - - - - (0.72) 43.3 %
Q1 2015 - - - - (1.02) (27.1 %)
Q2 2015 - - - - (0.53) 35.4 %
Q3 2015 - - - - (0.46) (40.3 %)
Q4 2015 - - - - (4.25) (488.5 %)
Q1 2016 - - - - (0.78) 23.1 %
Q2 2016 - - - - (0.48) 10.7 %
Q3 2016 - - - - (0.55) (20.0 %)
Q4 2016 - - - - (1.05) 75.3 %
Q1 2017 - - - - (4.50) (475.4 %)
Q2 2017 - - - - (0.74) (56.0 %)
Q3 2017 - - - - (0.49) 10.2 %
Q4 2017 - - - - (1.05) 0.1 %
Q1 2018 - - - - (1.04) 77.0 %
Q2 2018 - - - - (0.58) 21.3 %
Q3 2018 - - - - (0.51) (3.9 %)
Q4 2018 - - - - (1.04) 1.0 %
Q1 2019 - - - - (0.63) 39.1 %
Q2 2019 - - - - (0.70) (19.6 %)
Q3 2019 - - - - (0.42) 17.1 %
Q4 2019 - - - - (1.39) (33.4 %)
2019 - - - - (3.14) 1.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2010 0.75 904.0 % 0.05 - 0.75 0.05
Q2 2010 8.68 2794.0 % 0.58 - 8.68 0.58
Q3 2010 0.52 (18.0 %) 0.03 - 0.52 0.03
Q4 2010 2.32 9.6 % 0.15 - 2.32 0.15
Q1 2011 0.75 (0.3 %) 0.05 - 0.75 0.05
Q2 2011 8.19 (5.6 %) 0.55 - 8.19 0.55
Q3 2011 0.46 (12.2 %) 0.03 - 0.46 0.03
Q4 2011 1.53 (34.0 %) 0.10 - 1.53 0.10
Q1 2012 0.64 (15.0 %) 0.04 - 0.64 0.04
Q2 2012 15.47 88.8 % 1.03 - 15.47 1.03
Q3 2012 0.57 25.9 % 0.04 - 0.57 0.04
Q4 2012 0.13 (91.5 %) 0.01 - 0.13 0.01
Q1 2013 0.73 14.6 % 0.05 - 0.73 0.05
Q2 2013 14.24 (8.0 %) 0.95 - 14.24 0.95
Q3 2013 1.27 120.9 % 0.08 - 1.27 0.08
Q4 2013 (0.81) (723.8 %) (0.05) - (0.81) (0.05)
Q1 2014 2.95 303.0 % 0.20 1.00 1.95 0.13
Q2 2014 14.35 0.8 % 0.96 - 14.35 0.96
Q3 2014 7.21 469.2 % 0.48 - 8.21 0.55
Q4 2014 (3.58) (341.2 %) (0.24) 1.00 (4.58) (0.31)
Q1 2015 (0.67) (122.9 %) (0.04) - (0.67) (0.04)
Q2 2015 16.91 17.8 % 1.13 - 16.91 1.13
Q3 2015 0.10 (98.7 %) 0.01 - 0.10 0.01
Q4 2015 (3.61) (0.9 %) (0.24) - (3.61) (0.24)
Q1 2016 (0.72) (7.1 %) (0.05) - (0.72) (0.05)
Q2 2016 (0.20) (101.2 %) (0.01) - (0.20) (0.01)
Q3 2016 (1.30) (1458.3 %) (0.09) - (1.30) (0.09)
Q4 2016 (1.82) 49.6 % (0.12) - (1.82) (0.12)
Q1 2017 3.04 520.8 % 0.20 - 3.04 0.20
Q2 2017 (1.02) (416.2 %) (0.07) - (1.02) (0.07)
Q3 2017 (0.34) 74.2 % (0.02) - (0.34) (0.02)
Q4 2017 5.64 410.2 % 0.38 - 5.64 0.38
Q1 2018 (1.23) (140.4 %) (0.08) - (1.23) (0.08)
Q2 2018 (0.49) 51.9 % (0.03) - (0.49) (0.03)
Q3 2018 6.91 2149.6 % 0.46 - 6.91 0.46
Q4 2018 9.37 66.0 % 0.62 - 9.37 0.62
Q1 2019 (1.27) (3.7 %) (0.08) - (1.27) (0.08)
Q2 2019 10.23 2178.9 % 0.68 - 10.23 0.68
Q3 2019 (0.83) (112.0 %) (0.06) - (0.83) (0.06)
Q4 2019 9.04 (3.5 %) 0.60 - 9.04 0.60
2019 17.17 18.0 % 1.14 - 17.17 1.14

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2010 - - -
Q2 2010 - - -
Q3 2010 - - -
Q4 2010 - - -
Q1 2011 - - -
Q2 2011 - - -
Q3 2011 - - -
Q4 2011 - - -
Q1 2012 - - -
Q2 2012 - - -
Q3 2012 - - -
Q4 2012 - - -
Q1 2013 - - -
Q2 2013 - - -
Q3 2013 - - -
Q4 2013 - - -
Q1 2014 - - -
Q2 2014 - - -
Q3 2014 - - -
Q4 2014 - - -
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
2019 - - -


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2010 15.00 0.25 0.25 25.82
Q2 2010 15.00 0.81 0.81 21.38
Q3 2010 15.00 0.80 0.80 22.43
Q4 2010 15.00 0.82 0.82 26.57
Q1 2011 15.00 0.82 0.82 27.48
Q2 2011 15.00 0.79 0.79 27.42
Q3 2011 15.00 0.78 0.78 23.79
Q4 2011 15.00 0.73 0.73 23.43
Q1 2012 15.00 0.72 0.72 29.33
Q2 2012 15.00 1.21 1.21 25.43
Q3 2012 15.00 1.21 1.21 28.05
Q4 2012 15.00 1.12 1.12 27.72
Q1 2013 15.00 1.13 1.13 28.03
Q2 2013 15.00 1.04 1.04 31.35
Q3 2013 15.00 1.09 1.09 31.96
Q4 2013 15.00 1.03 1.03 38.17
Q1 2014 15.00 1.18 1.11 40.50
Q2 2014 15.00 1.18 1.12 42.44
Q3 2014 15.00 1.58 1.58 46.80
Q4 2014 15.00 1.40 1.33 31.83
Q1 2015 15.00 1.15 1.15 29.56
Q2 2015 15.00 1.32 1.32 33.68
Q3 2015 15.00 0.85 0.78 24.46
Q4 2015 15.00 0.85 0.85 19.76
Q1 2016 15.00 0.84 0.84 18.11
Q2 2016 15.00 (0.30) (0.30) 18.85
Q3 2016 15.00 (0.39) (0.39) 18.03
Q4 2016 15.00 (0.27) (0.27) 24.10
Q1 2017 15.00 (0.02) (0.02) 26.06
Q2 2017 15.00 (0.07) (0.07) 25.09
Q3 2017 15.00 (0.01) (0.01) 26.07
Q4 2017 15.00 0.49 0.49 24.49
Q1 2018 15.00 0.20 0.20 27.84
Q2 2018 15.00 0.24 0.24 34.49
Q3 2018 15.00 0.72 0.72 33.03
Q4 2018 15.00 0.97 0.97 28.70
Q1 2019 15.00 0.97 0.97 30.37
Q2 2019 15.00 1.68 1.68 30.67
Q3 2019 15.00 1.17 1.17 28.73
Q4 2019 15.00 1.14 1.14 30.26

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2010 More than 100 More than 100 1.86
Q2 2010 44.21 44.21 1.68
Q3 2010 43.51 43.51 1.56
Q4 2010 44.01 44.01 1.35
Q1 2011 39.73 39.73 1.18
Q2 2011 59.85 59.85 1.71
Q3 2011 61.83 61.83 2.03
Q4 2011 More than 100 More than 100 3.38
Q1 2012 More than 100 More than 100 2.55
Q2 2012 44.56 44.56 2.11
Q3 2012 56.22 56.22 2.43
Q4 2012 53.98 53.98 2.18
Q1 2013 55.02 55.02 2.21
Q2 2013 56.71 56.71 1.89
Q3 2013 54.76 54.76 1.87
Q4 2013 57.13 57.13 1.54
Q1 2014 57.82 61.30 1.68
Q2 2014 62.86 66.61 1.75
Q3 2014 53.67 53.67 1.81
Q4 2014 35.42 37.20 1.55
Q1 2015 49.59 49.59 1.94
Q2 2015 44.18 44.18 1.74
Q3 2015 48.14 52.24 1.67
Q4 2015 48.69 48.69 2.09
Q1 2016 39.60 39.60 1.85
Q2 2016 NEG NEG 1.85
Q3 2016 NEG NEG 1.43
Q4 2016 NEG NEG 1.67
Q1 2017 NEG NEG 1.30
Q2 2017 NEG NEG 1.27
Q3 2017 NEG NEG 1.32
Q4 2017 63.84 63.84 1.27
Q1 2018 More than 100 More than 100 1.47
Q2 2018 More than 100 More than 100 1.34
Q3 2018 56.71 56.71 1.24
Q4 2018 43.07 43.07 1.46
Q1 2019 45.38 45.38 1.45
Q2 2019 22.17 22.17 1.22
Q3 2019 36.82 36.82 1.49
Q4 2019 39.05 39.05 1.48


Financial Ratios
Current
Market Cap (M Riyal) 930.00
Enterprise Value (EV) (M Riyal) 647.57
Shares Outstanding ((M)) 15.00
EPS ( Riyal) (TTM) (4.97)
Book Value (BV) ( Riyal) 21.32
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) NEG
Price/book 2.91
Return on Average Assets (%) (TTM) (19.65 )
Return on Average Equity (%) (TTM) (20.28 )
EV/adj EBITDA (46.95)
EV/Revenues -
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Share Price

Saudi Arabia Refineries Co.
62.00
0.40 0.65 %

Saudi Arabia Refineries Co. (SARCO)

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