Petro Rabigh posts higher net loss at SAR 894.8 mln in I2 of 2013

30/06/2013 Argaam Exclusive

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Share Price

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

Rabigh Refining and Petrochemical Company (Petro Rabigh), which operates an integrated refinery and petrochemical complex, reported SAR 894.8 mln net loss at the end of the first half of 2013, compared to SAR 11.5 mln net profit in the same period last year.

Financials (M)

Item	6m 2012	6m 2013	Change‬
Revenues	30,842.44	24,384.97	(20.9 %)
Gross Income	554.68	(456.01)	(182.2 %)
Operating Income	89.20	(839.38)	(1041.0 %)
Net Income	11.48	(894.76)	(7892.1 %)
Average Shares	1,250.63	1,250.63	-
EPS (Riyals)	0.01	(0.72)	(7892.1 %)

Current Quarter Comparison (M)

Compared With The

Item	Q2 2012	Q2 2013	Change‬
Revenues	14,844.32	14,195.60	(4.4 %)
Gross Income	173.23	(6.50)	(103.8 %)
Operating Income	(62.19)	(210.91)	(239.1 %)
Net Income	(104.36)	(236.70)	(126.8 %)
Average Shares	1,250.63	1,250.63	-
EPS (Riyals)	(0.08)	(0.19)	(126.8 %)

Item	Q1 2013	Q2 2013	Change‬
Revenues	10,189.36	14,195.60	39.3 %
Gross Income	(449.51)	(6.50)	98.6 %
Operating Income	(628.46)	(210.91)	66.4 %
Net Income	(658.06)	(236.70)	64.0 %
Average Shares	1,250.63	1,250.63	-
EPS (Riyals)	(0.53)	(0.19)	64.0 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2004	-	-	-	-	-	-	-
Q2 2004	-	-	-	-	-	-	-
Q3 2004	-	-	-	-	-	-	-
Q4 2004	-	-	-	-	-	-	-
2004	-	-	-	-	-	-	-
Q1 2005	-	-	-	-	-	-	-
Q2 2005	-	-	-	-	-	-	-
Q3 2005	-	-	-	-	-	-	-
Q4 2005	-	-	-	-	-	-	-
2005	-	-	-	-	-	-	-
Q1 2006	-	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-	-
2006	-	-	-	-	-	-	-
Q1 2007	-	-	-	-	(83.51)	-	(0.11)
Q2 2007	-	-	-	-	(71.79)	-	(0.08)
Q3 2007	-	-	-	-	(90.74)	-	(0.10)
Q4 2007	-	-	-	-	(196.53)	-	(0.21)
2007	-	-	-	-	(442.57)	-	(0.47)
Q1 2008	-	-	-	-	(82.11)	1.7 %	(0.07)
Q2 2008	-	-	-	-	(115.45)	(60.8 %)	(0.09)
Q3 2008	-	-	-	-	(155.88)	(71.8 %)	(0.12)
Q4 2008	6,543.34	-	(621.89)	-	(902.80)	(359.4 %)	(0.72)
2008	6,543.34	-	(621.89)	-	(1256.24)	(183.9 %)	(1.00)
Q1 2009	5,629.22	-	107.04	-	(28.69)	65.1 %	(0.02)
Q2 2009	6,147.55	-	(67.37)	-	(235.96)	(104.4 %)	(0.19)
Q3 2009	7,301.02	-	(582.14)	-	(844.67)	(441.9 %)	(0.68)
Q4 2009	10,344.92	58.1 %	87.12	114.0 %	(323.74)	64.1 %	(0.26)
2009	29,422.71	349.7 %	(455.36)	26.8 %	(1433.06)	(14.1 %)	(1.15)
Q1 2010	10,676.41	89.7 %	159.49	49.0 %	271.54	1046.5 %	0.22
Q2 2010	12,000.67	95.2 %	314.81	567.3 %	121.78	151.6 %	0.10
Q3 2010	11,274.84	54.4 %	(23.30)	96.0 %	(237.19)	71.9 %	(0.19)
Q4 2010	12,885.98	24.6 %	277.66	218.7 %	52.56	116.2 %	0.04
2010	46,837.89	59.2 %	728.65	260.0 %	208.69	114.6 %	0.17
Q1 2011	15,053.32	41.0 %	939.15	488.8 %	698.47	157.2 %	0.56
Q2 2011	7,629.24	(36.4 %)	(178.88)	(156.8 %)	(402.32)	(430.4 %)	(0.32)
Q3 2011	14,100.10	25.1 %	(78.14)	(235.4 %)	(280.57)	(18.3 %)	(0.22)
Q4 2011	16,594.17	28.8 %	302.06	8.8 %	50.32	(4.3 %)	0.04
2011	53,376.84	14.0 %	984.19	35.1 %	65.89	(68.4 %)	0.05
Q1 2012	15,998.12	6.3 %	381.45	(59.4 %)	115.85	(83.4 %)	0.09
Q2 2012	14,844.32	94.6 %	173.23	196.8 %	(104.36)	74.1 %	(0.08)
Q3 2012	15,503.01	9.9 %	644.33	924.6 %	409.31	245.9 %	0.33
Q4 2012	15,665.42	(5.6 %)	330.16	9.3 %	68.07	35.3 %	0.05
2012	62,010.88	16.2 %	1,529.17	55.4 %	488.86	641.9 %	0.39
Q1 2013	10,189.36	(36.3 %)	(449.51)	(217.8 %)	(658.06)	(668.1 %)	(0.53)
Q2 2013	14,195.60	(4.4 %)	(6.50)	(103.8 %)	(236.70)	(126.8 %)	(0.19)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2003	-	-	-	-	-	-	-
2004	-	-	-	-	-	-	-
2005	-	-	-	-	-	-	-
2006	-	-	-	-	-	-	-
2007	-	-	-	-	(442.57)	-	(0.47)
2008	6,543.34	-	(621.89)	-	(1256.24)	(183.9 %)	(1.00)
2009	29,422.71	349.7 %	(455.36)	26.8 %	(1433.06)	(14.1 %)	(1.15)
2010	46,837.89	59.2 %	728.65	260.0 %	208.69	114.6 %	0.17
2011	53,376.84	14.0 %	984.19	35.1 %	65.89	(68.4 %)	0.05
2012	62,010.88	16.2 %	1,529.17	55.4 %	488.86	641.9 %	0.39

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2004	-	-	-
Q2 2004	-	-	-
Q3 2004	-	-	-
Q4 2004	-	-	-
2004	-	-	-
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	(9.50 %)	(15.72 %)	(19.20 %)
2008	(9.50 %)	(15.72 %)	(19.20 %)
Q1 2009	(4.23 %)	(6.51 %)	(9.88 %)
Q2 2009	(3.18 %)	(4.06 %)	(7.22 %)
Q3 2009	(4.54 %)	(4.51 %)	(7.85 %)
Q4 2009	(1.55 %)	(0.49 %)	(4.87 %)
2009	(1.55 %)	(0.49 %)	(4.87 %)
Q1 2010	(1.17 %)	0.52 %	(3.29 %)
Q2 2010	(0.05 %)	2.28 %	(1.92 %)
Q3 2010	1.21 %	4.04 %	(0.38 %)
Q4 2010	1.56 %	4.07 %	(0.22 %)
2010	1.56 %	4.07 %	(0.22 %)
Q1 2011	2.95 %	5.22 %	0.63 %
Q2 2011	2.17 %	4.54 %	(0.43 %)
Q3 2011	1.93 %	4.22 %	(0.49 %)
Q4 2011	1.84 %	4.14 %	0.12 %
2011	1.84 %	4.14 %	0.12 %
Q1 2012	0.79 %	3.11 %	(0.95 %)
Q2 2012	1.27 %	3.34 %	(0.36 %)
Q3 2012	2.38 %	4.44 %	0.75 %
Q4 2012	2.47 %	4.57 %	0.79 %
2012	2.47 %	4.57 %	0.79 %
Q1 2013	1.24 %	3.66 %	(0.51 %)
Q2 2013	0.93 %	3.43 %	(0.75 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2003	-	-	-
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	(9.50 %)	(15.72 %)	(19.20 %)
2009	(1.55 %)	(0.49 %)	(4.87 %)
2010	1.56 %	4.07 %	(0.22 %)
2011	1.84 %	4.14 %	0.12 %
2012	2.47 %	4.57 %	0.79 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2004	-	-	-
Q2 2004	-	-	-
Q3 2004	-	-	-
Q4 2004	-	-	-
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	-	-	-
Q4 2008	(9.50 %)	(9.71 %)	(13.80 %)
Q1 2009	1.90 %	2.22 %	(0.51 %)
Q2 2009	(1.10 %)	(1.24 %)	(3.84 %)
Q3 2009	(7.97 %)	(7.80 %)	(11.57 %)
Q4 2009	0.84 %	3.64 %	(3.13 %)
Q1 2010	1.49 %	4.19 %	2.54 %
Q2 2010	2.62 %	5.55 %	1.01 %
Q3 2010	(0.21 %)	2.65 %	(2.10 %)
Q4 2010	2.15 %	3.84 %	(2.00 %)
Q1 2011	6.24 %	8.08 %	4.64 %
Q2 2011	(2.34 %)	1.56 %	(5.27 %)
Q3 2011	(0.55 %)	1.89 %	(1.99 %)
Q4 2011	1.82 %	3.66 %	0.30 %
Q1 2012	2.38 %	4.34 %	0.72 %
Q2 2012	1.17 %	3.27 %	(0.70 %)
Q3 2012	4.16 %	6.49 %	2.64 %
Q4 2012	2.11 %	4.15 %	0.43 %
Q1 2013	(4.41 %)	(0.81 %)	(6.46 %)
Q2 2013	(0.05 %)	2.36 %	(1.67 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2004	-	-	-	-
Q2 2004	-	-	-	-
Q3 2004	-	-	-	-
Q4 2004	-	-	-	-
Q1 2005	-	-	-	-
Q2 2005	-	-	-	-
Q3 2005	-	-	-	-
Q4 2005	-	-	-	-
Q1 2006	-	-	-	-
Q2 2006	-	-	-	-
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	749.52	-	-	6.66
Q2 2007	937.97	-	-	6.65
Q3 2007	937.97	-	-	6.56
Q4 2007	937.97	(0.47)	(0.47)	6.35
Q1 2008	1,250.63	(0.35)	(0.35)	8.34
Q2 2008	1,250.63	(0.39)	(0.39)	8.25
Q3 2008	1,250.63	(0.44)	(0.44)	8.13
Q4 2008	1,250.63	(1.00)	(1.00)	7.41
Q1 2009	1,250.63	(0.96)	(0.96)	7.38
Q2 2009	1,250.63	(1.06)	(1.06)	7.20
Q3 2009	1,250.63	(1.61)	(1.61)	6.52
Q4 2009	1,250.63	(1.15)	(1.15)	6.26
Q1 2010	1,250.63	(0.91)	(0.91)	6.48
Q2 2010	1,250.63	(0.62)	(0.62)	6.58
Q3 2010	1,250.63	(0.13)	(0.13)	6.39
Q4 2010	1,250.63	0.17	(0.08)	6.40
Q1 2011	1,250.63	0.51	0.26	6.95
Q2 2011	1,250.63	0.09	(0.16)	6.63
Q3 2011	1,250.63	0.05	(0.19)	6.41
Q4 2011	1,250.63	0.05	0.05	6.47
Q1 2012	1,250.63	(0.41)	(0.41)	6.56
Q2 2012	1,250.63	(0.17)	(0.17)	6.48
Q3 2012	1,250.63	0.38	0.38	6.80
Q4 2012	1,250.63	0.39	0.39	6.85
Q1 2013	1,250.63	(0.23)	(0.23)	6.32
Q2 2013	1,250.63	(0.33)	(0.33)	6.13

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2003	-	-	-	-
2004	-	-	-	-
2005	-	-	-	-
2006	-	-	-	-
2007	937.97	(0.47)	(0.47)	6.35
2008	1,250.63	(1.00)	(1.00)	7.41
2009	1,250.63	(1.15)	(1.15)	6.26
2010	1,250.63	0.17	(0.08)	6.40
2011	1,250.63	0.05	0.05	6.47
2012	1,250.63	0.39	0.39	6.85

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2004	-	-	-
Q2 2004	-	-	-
Q3 2004	-	-	-
Q4 2004	-	-	-
Q1 2005	-	-	-
Q2 2005	-	-	-
Q3 2005	-	-	-
Q4 2005	-	-	-
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	NEG	NEG	5.53
Q2 2008	NEG	NEG	6.66
Q3 2008	NEG	NEG	4.45
Q4 2008	NEG	NEG	1.97
Q1 2009	NEG	NEG	2.61
Q2 2009	NEG	NEG	3.67
Q3 2009	NEG	NEG	5.01
Q4 2009	NEG	NEG	5.31
Q1 2010	NEG	NEG	4.93
Q2 2010	NEG	NEG	3.90
Q3 2010	NEG	NEG	3.64
Q4 2010	More than 100	NEG	3.28
Q1 2011	45.41	88.87	3.32
Q2 2011	More than 100	NEG	3.80
Q3 2011	More than 100	NEG	3.57
Q4 2011	More than 100	More than 100	3.37
Q1 2012	NEG	NEG	3.77
Q2 2012	NEG	NEG	2.75
Q3 2012	45.98	45.98	2.55
Q4 2012	42.03	42.03	2.40
Q1 2013	NEG	NEG	2.60
Q2 2013	NEG	NEG	2.42

Period	P/E	Adjusted P/E	Price/book
2003	-	-	-
2004	-	-	-
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	NEG	NEG	1.97
2009	NEG	NEG	5.31
2010	More than 100	NEG	3.28
2011	More than 100	More than 100	3.37
2012	42.03	42.03	2.40

Business Segments (Million)

Compared With The

Period	Refined products	Petrochemical products
Q1 2009	5,629.22	-
Q2 2009	6,147.55	-
Q3 2009	6,993.09	307.92
Q4 2009	9,127.26	1,217.67
Q1 2010	8,913.81	1,762.60
Q2 2010	9,558.49	2,442.18
Q3 2010	9,643.47	1,631.36
Q4 2010	10,942.03	1,943.95
Q1 2011	12,677.38	2,375.95
Q2 2011	6,540.62	1,088.63
Q3 2011	12,335.94	1,764.15
Q4 2011	13,711.37	2,882.80
Q1 2012	13,734.88	2,263.24
Q2 2012	12,337.62	2,506.70
Q3 2012	13,523.90	1,979.12
Q4 2012	12,945.52	2,719.91
Q1 2013	9,081.84	1,107.53
Q2 2013	12,300.99	1,894.61

Period	Refined products	Petrochemical products
2009	27,897.12	1,525.59
2010	39,057.80	7,780.09
2011	45,265.31	8,111.52
2012	52,541.91	9,468.97

Financial Ratios

	Current
Market Cap (M Riyal)	11,479.77
Enterprise Value (EV) (M)	-
Shares Outstanding ((M))	1,671.00
EPS ( Riyal) (TTM)	(3.05)
Book Value (BV) ( Riyal)	5.50
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.25
Return on Average Assets (%) (TTM)	(7.97 )
Return on Average Equity (%) (TTM)	(43.39 )

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Petro Rabigh posts higher net loss at SAR 894.8 mln in I2 of 2013

View other reports

Share Price

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

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

Business Segments (Million)

Revenue by Business Segment (Latest) 2013 Q2

Financial Ratios

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Petro Rabigh posts higher net loss at SAR 894.8 mln in I2 of 2013

View other reports

Share Price

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

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

Business Segments (Million) Q2 2013

Revenue by Business Segment (Latest) 2013 Q2

Financial Ratios

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Business Segments (Million)