Saudi Advanced Petrochemicals Co. posts SAR 90 mln (-35%) in Q1-2015

05/04/2015 Argaam Exclusive

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Share Price

Advanced Petrochemical Co. (ADVANCED)

 

Saudi Advanced Petrochemicals co. reported a profit of SAR 89.63 (-35%) million in the first quarter of 2015.

 



Current Quarter Comparison (M)

Compared With The
Item Q1 2014 Q1 2015 Change‬
Revenues 669.17 467.94 (30.1 %)
Gross Income 150.42 111.12 (26.1 %)
Operating Income 138.60 100.34 (27.6 %)
Net Income 137.45 89.63 (34.8 %)
Average Shares 260.00 260.00 -
EPS (Riyals) 0.53 0.34 (34.8 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2006 - - - - - - -
Q2 2006 - - - - 2.00 - 0.01
Q3 2006 - - - - - - -
Q4 2006 - - - - 1.74 - 0.01
Q1 2007 - - - - 1.69 - 0.01
Q2 2007 - - - - 0.61 (69.4 %) 0.00
Q3 2007 - - - - (0.06) - 0.00
Q4 2007 - - - - (0.08) (104.6 %) 0.00
Q1 2008 - - - - (0.05) (102.9 %) 0.00
Q2 2008 319.83 - 89.11 - 75.90 12281.2 % 0.29
Q3 2008 682.50 - 230.29 - 210.42 334096.8 % 0.81
Q4 2008 456.85 - (39.87) - (76.12) (95,045.0 %) (0.29)
Q1 2009 369.52 - 63.52 - 42.87 87591.8 % 0.16
Q2 2009 344.26 7.6 % 60.92 (31.6 %) 34.63 (54.4 %) 0.13
Q3 2009 361.50 (47.0 %) 41.02 (82.2 %) 20.88 (90.1 %) 0.08
Q4 2009 391.55 (14.3 %) 52.47 231.6 % 28.74 137.8 % 0.11
Q1 2010 464.49 25.7 % 69.23 9.0 % 52.57 22.6 % 0.20
Q2 2010 450.82 31.0 % 81.56 33.9 % 65.26 88.4 % 0.25
Q3 2010 545.20 50.8 % 136.90 233.7 % 121.14 480.0 % 0.47
Q4 2010 570.45 45.7 % 107.81 105.5 % 89.36 211.0 % 0.34
Q1 2011 667.51 43.7 % 145.05 109.5 % 131.11 149.4 % 0.50
Q2 2011 742.50 64.7 % 170.14 108.6 % 155.61 138.5 % 0.60
Q3 2011 717.07 31.5 % 150.68 10.1 % 135.49 11.9 % 0.52
Q4 2011 663.84 16.4 % 109.88 1.9 % 90.60 1.4 % 0.35
Q1 2012 586.24 (12.2 %) 69.36 (52.2 %) 57.09 (56.5 %) 0.22
Q2 2012 456.91 (38.5 %) 67.84 (60.1 %) 53.88 (65.4 %) 0.21
Q3 2012 649.29 (9.5 %) 114.76 (23.8 %) 100.26 (26.0 %) 0.39
Q4 2012 780.00 17.5 % 134.53 22.4 % 117.01 29.2 % 0.45
Q1 2013 641.52 9.4 % 132.77 91.4 % 117.94 106.6 % 0.45
Q2 2013 685.67 50.1 % 150.60 122.0 % 136.67 153.7 % 0.53
Q3 2013 694.25 6.9 % 154.12 34.3 % 140.96 40.6 % 0.54
Q4 2013 764.17 (2.0 %) 173.96 29.3 % 161.29 37.9 % 0.62
Q1 2014 669.17 4.3 % 150.42 13.3 % 137.45 16.5 % 0.53
Q2 2014 807.63 17.8 % 192.85 28.0 % 184.63 35.1 % 0.71
Q3 2014 819.76 18.1 % 205.69 33.5 % 228.74 62.3 % 0.88
Q4 2014 739.82 (3.2 %) 231.78 33.2 % 200.13 24.1 % 0.77
Q1 2015 467.94 (30.1 %) 111.12 (26.1 %) 89.63 (34.8 %) 0.34

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - -
Q2 2007 - - -
Q3 2007 - - -
Q4 2007 - - -
Q1 2008 - - -
Q2 2008 27.86 % 34.47 % 23.67 %
Q3 2008 31.87 % 37.22 % 28.55 %
Q4 2008 19.16 % 25.06 % 14.40 %
Q1 2009 18.76 % 25.27 % 13.84 %
Q2 2009 16.99 % 24.08 % 11.43 %
Q3 2009 8.20 % 17.20 % 1.45 %
Q4 2009 14.86 % 24.34 % 8.67 %
Q1 2010 14.32 % 23.63 % 8.76 %
Q2 2010 14.64 % 23.92 % 10.04 %
Q3 2010 18.37 % 27.17 % 14.45 %
Q4 2010 19.47 % 28.05 % 16.17 %
Q1 2011 21.10 % 29.07 % 18.21 %
Q2 2011 22.17 % 29.22 % 19.69 %
Q3 2011 21.27 % 27.74 % 18.96 %
Q4 2011 20.63 % 26.92 % 18.37 %
Q1 2012 18.45 % 24.84 % 16.19 %
Q2 2012 16.41 % 22.93 % 13.90 %
Q3 2012 15.36 % 22.01 % 12.81 %
Q4 2012 15.63 % 21.99 % 13.28 %
Q1 2013 17.80 % 24.04 % 15.39 %
Q2 2013 19.32 % 25.56 % 17.12 %
Q3 2013 20.42 % 26.53 % 18.30 %
Q4 2013 21.95 % 27.75 % 19.99 %
Q1 2014 22.36 % 28.05 % 20.45 %
Q2 2014 22.87 % 28.30 % 21.08 %
Q3 2014 23.62 % 28.85 % 21.95 %
Q4 2014 25.71 % 31.08 % 23.84 %
Q1 2015 26.15 % 31.74 % 23.89 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2006 - - - -
Q2 2006 260.00 - - 2.89
Q3 2006 - - - -
Q4 2006 260.00 - - 5.44
Q1 2007 260.00 - - 5.45
Q2 2007 260.00 - - 5.45
Q3 2007 260.00 0.02 0.02 5.45
Q4 2007 260.00 0.01 0.01 5.45
Q1 2008 260.00 0.00 0.00 5.45
Q2 2008 260.00 0.29 0.29 5.73
Q3 2008 260.00 1.10 1.10 6.52
Q4 2008 260.00 0.81 0.81 6.22
Q1 2009 260.00 0.97 0.97 6.38
Q2 2009 260.00 0.81 0.81 6.51
Q3 2009 260.00 0.09 0.09 6.32
Q4 2009 260.00 0.49 0.49 6.42
Q1 2010 260.00 0.53 0.53 6.35
Q2 2010 260.00 0.64 0.64 6.19
Q3 2010 260.00 1.03 1.03 6.64
Q4 2010 260.00 1.26 1.26 6.97
Q1 2011 260.00 1.56 1.56 6.91
Q2 2011 260.00 1.91 1.91 6.95
Q3 2011 260.00 1.97 1.97 7.46
Q4 2011 260.00 1.97 1.97 7.80
Q1 2012 260.00 1.69 1.69 7.47
Q2 2012 260.00 1.30 1.30 7.04
Q3 2012 260.00 1.16 1.16 7.42
Q4 2012 260.00 1.26 1.26 7.86
Q1 2013 260.00 1.50 1.50 7.67
Q2 2013 260.00 1.81 1.81 7.55
Q3 2013 260.00 1.97 1.97 8.08
Q4 2013 260.00 2.14 2.14 8.67
Q1 2014 260.00 2.22 2.21 8.42
Q2 2014 260.00 2.40 2.38 8.31
Q3 2014 260.00 2.74 2.58 8.51
Q4 2014 260.00 2.89 2.78 9.14
Q1 2015 260.00 2.70 2.60 8.58

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2006 - - -
Q2 2006 - - -
Q3 2006 - - -
Q4 2006 - - -
Q1 2007 - - 2.17
Q2 2007 - - 2.22
Q3 2007 More than 100 More than 100 3.52
Q4 2007 More than 100 More than 100 4.82
Q1 2008 More than 100 More than 100 4.94
Q2 2008 More than 100 More than 100 5.44
Q3 2008 17.14 17.14 2.90
Q4 2008 10.36 10.36 1.35
Q1 2009 9.53 9.53 1.45
Q2 2009 17.36 17.36 2.17
Q3 2009 More than 100 More than 100 2.28
Q4 2009 27.69 27.69 2.11
Q1 2010 23.72 23.72 1.97
Q2 2010 17.36 17.36 1.81
Q3 2010 10.46 10.46 1.62
Q4 2010 11.71 11.71 2.12
Q1 2011 10.74 10.74 2.43
Q2 2011 9.73 9.73 2.67
Q3 2011 7.93 7.93 2.09
Q4 2011 7.89 7.89 1.99
Q1 2012 11.70 11.70 2.64
Q2 2012 12.21 12.21 2.25
Q3 2012 14.13 14.13 2.21
Q4 2012 13.09 13.09 2.10
Q1 2013 12.31 12.31 2.40
Q2 2013 11.05 11.05 2.66
Q3 2013 10.69 10.69 2.61
Q4 2013 12.02 12.02 2.97
Q1 2014 12.12 12.15 3.19
Q2 2014 11.62 11.73 3.36
Q3 2014 13.77 14.59 4.43
Q4 2014 8.78 9.11 2.77
Q1 2015 9.69 10.06 3.05

Analysts Estimates (Million)

Item Q1 2015 (e) Q1 2015 (a) Change‬
Average 58.81 89.63 52.39 %

Estimates vs Actual (Million)

Item Q1 2015 (e) Q1 2015 (a) Change
SFC 94.00 89.63 (4.7) %
Al Rajhi Capital 84.00 89.63 6.7 %
SNB Capital 77.20 89.63 16.1 %
AlJazira Capital 72.90 89.63 22.9 %
Riyad Capital 42.00 89.63 113.4 %
Alistithmar Capital 24.30 89.63 268.8 %
OSOOL AND BAKHEET 17.30 89.63 418.1 %

Current
Market Cap (M Riyal) 10,426.00
Enterprise Value (EV) (M) 17,409.06
Shares Outstanding ((M)) 260.00
EPS ( Riyal) (TTM) 0.27
Book Value (BV) ( Riyal) 12.39
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 3.24
Return on Average Assets (%) (TTM) 0.7
Return on Average Equity (%) (TTM) 2.2

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