SARCO reports 57% profit jump in 9M 2019

06/11/2019 Argaam Exclusive

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Share Price

Saudi Arabia Refineries Co. (SARCO)

Saudi Arabia Refineries Co. (SARCO) reported a net profit of SAR 8.12 million for the first 9 months of 2019, a rise of 56.66 percent year-on-year (YoY), driven by dividend for H1 2019 from invested firm, Saudi Industrial Investment Group.

Financials (M)

Item	9m 2018	9m 2019	Change‬
Operating Income	(2.13)	(1.75)	17.8 %
Net Income	5.19	8.13	56.6 %
Average Shares	15.00	15.00	-
EPS (Riyals)	0.35	0.54	56.6 %

SARCO incurred net losses of SAR 828,335 for Q3 2019, versus net profit of SAR 6.9 million in year-earlier period, due to lack of dividend from the investee company.

On a sequential basis, SARCO swung to losses in Q3.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2018	Q3 2019	Change‬
Operating Income	(0.51)	(0.42)	17.1 %
Net Income	6.91	(0.83)	(112.0 %)
Average Shares	15.00	15.00	-
EPS (Riyals)	0.46	(0.06)	(112.0 %)

Item	Q2 2019	Q3 2019	Change‬
Operating Income	(0.70)	(0.42)	39.3 %
Net Income	10.23	(0.83)	(108.1 %)
Average Shares	15.00	15.00	-
EPS (Riyals)	0.68	(0.06)	(108.1 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2010	-	-	-	-	0.75	904.0 %	0.05
Q2 2010	-	-	-	-	8.68	2794.0 %	0.58
Q3 2010	-	-	-	-	0.52	(18.0 %)	0.03
Q4 2010	-	-	-	-	2.32	9.6 %	0.15
2010	-	-	-	-	12.27	293.2 %	0.82
Q1 2011	-	-	-	-	0.75	(0.3 %)	0.05
Q2 2011	-	-	-	-	8.19	(5.6 %)	0.55
Q3 2011	-	-	-	-	0.46	(12.2 %)	0.03
Q4 2011	-	-	-	-	1.53	(34.0 %)	0.10
2011	-	-	-	-	10.93	(10.9 %)	0.73
Q1 2012	-	-	-	-	0.64	(15.0 %)	0.04
Q2 2012	-	-	-	-	15.47	88.8 %	1.03
Q3 2012	-	-	-	-	0.57	25.9 %	0.04
Q4 2012	-	-	-	-	0.13	(91.5 %)	0.01
2012	-	-	-	-	16.81	53.8 %	1.12
Q1 2013	-	-	-	-	0.73	14.6 %	0.05
Q2 2013	-	-	-	-	14.24	(8.0 %)	0.95
Q3 2013	-	-	-	-	1.27	120.9 %	0.08
Q4 2013	-	-	-	-	(0.81)	(723.8 %)	(0.05)
2013	-	-	-	-	15.56	(7.4 %)	1.04
Q1 2014	-	-	-	-	2.95	303.0 %	0.20
Q2 2014	-	-	-	-	14.35	0.8 %	0.96
Q3 2014	-	-	-	-	7.21	469.2 %	0.48
Q4 2014	-	-	-	-	(3.58)	(341.2 %)	(0.24)
2014	-	-	-	-	20.93	34.5 %	1.40
Q1 2015	-	-	-	-	(0.67)	(122.9 %)	(0.04)
Q2 2015	-	-	-	-	16.91	17.8 %	1.13
Q3 2015	-	-	-	-	0.10	(98.7 %)	0.01
Q4 2015	-	-	-	-	(3.61)	(0.9 %)	(0.24)
2015	-	-	-	-	7.46	(64.3 %)	0.50
Q1 2016	-	-	-	-	(0.72)	(7.1 %)	(0.05)
Q2 2016	-	-	-	-	(0.20)	(101.2 %)	(0.01)
Q3 2016	-	-	-	-	(1.30)	(1458.3 %)	(0.09)
Q4 2016	-	-	-	-	(1.82)	49.6 %	(0.12)
2016	-	-	-	-	(4.04)	(154.2 %)	(0.27)
Q1 2017	-	-	-	-	3.04	520.8 %	0.20
Q2 2017	-	-	-	-	(1.02)	(416.2 %)	(0.07)
Q3 2017	-	-	-	-	(0.34)	74.2 %	(0.02)
Q4 2017	-	-	-	-	5.64	410.2 %	0.38
2017	-	-	-	-	7.32	281.0 %	0.49
Q1 2018	-	-	-	-	(1.23)	(140.4 %)	(0.08)
Q2 2018	-	-	-	-	(0.49)	51.9 %	(0.03)
Q3 2018	-	-	-	-	6.91	2149.6 %	0.46
Q4 2018	-	-	-	-	9.37	66.0 %	0.62
2018	-	-	-	-	14.56	98.9 %	0.97
Q1 2019	-	-	-	-	(1.27)	(3.7 %)	(0.08)
Q2 2019	-	-	-	-	10.23	2178.9 %	0.68
Q3 2019	-	-	-	-	(0.83)	(112.0 %)	(0.06)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2009	-	-	-	-	3.12	(97.1 %)	0.21
2010	-	-	-	-	12.27	293.2 %	0.82
2011	-	-	-	-	10.93	(10.9 %)	0.73
2012	-	-	-	-	16.81	53.8 %	1.12
2013	-	-	-	-	15.56	(7.4 %)	1.04
2014	-	-	-	-	20.93	34.5 %	1.40
2015	-	-	-	-	7.46	(64.3 %)	0.50
2016	-	-	-	-	(4.04)	(154.2 %)	(0.27)
2017	-	-	-	-	7.32	281.0 %	0.49
2018	-	-	-	-	14.56	98.9 %	0.97

Profitability

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

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2009	-	-	-
2010	-	-	-
2011	-	-	-
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-

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	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2009	15.00	0.21	0.21	25.67
2010	15.00	0.82	0.82	26.57
2011	15.00	0.73	0.73	23.43
2012	15.00	1.12	1.12	27.72
2013	15.00	1.04	1.04	38.17
2014	15.00	1.40	1.33	31.83
2015	15.00	0.50	0.50	19.76
2016	15.00	(0.27)	(0.27)	24.10
2017	15.00	0.49	0.49	24.49
2018	15.00	0.97	0.97	28.70

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2010	More than 50	More than 50	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	More than 50	More than 50	1.71
Q3 2011	More than 50	More than 50	2.03
Q4 2011	More than 50	More than 50	3.38
Q1 2012	More than 50	More than 50	2.55
Q2 2012	44.56	44.56	2.11
Q3 2012	More than 50	More than 50	2.43
Q4 2012	More than 50	More than 50	2.18
Q1 2013	More than 50	More than 50	2.21
Q2 2013	More than 50	More than 50	1.89
Q3 2013	More than 50	More than 50	1.87
Q4 2013	More than 50	More than 50	1.54
Q1 2014	More than 50	More than 50	1.68
Q2 2014	More than 50	More than 50	1.75
Q3 2014	More than 50	More than 50	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	More than 50	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	More than 50	More than 50	1.27
Q1 2018	More than 50	More than 50	1.47
Q2 2018	More than 50	More than 50	1.34
Q3 2018	More than 50	More than 50	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

Period	P/E	Adjusted P/E	Price/book
2009	More than 50	More than 50	1.94
2010	44.01	44.01	1.35
2011	More than 50	More than 50	3.38
2012	More than 50	More than 50	2.18
2013	More than 50	More than 50	1.54
2014	35.42	37.20	1.55
2015	More than 50	More than 50	2.09
2016	NEG	NEG	1.67
2017	More than 50	More than 50	1.27
2018	43.08	43.08	1.46

Financial Ratios

	Current
Market Cap (M Riyal)	1,224.00
Enterprise Value (EV) (M)	1,180.35
Shares Outstanding ((M))	15.00
EPS ( Riyal) (TTM)	0.50
Book Value (BV) ( Riyal)	29.85
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 50
P/E (TTM)	More than 50
Price/book	2.73
Return on Average Assets (%) (TTM)	1.6
Return on Average Equity (%) (TTM)	1.6

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SARCO reports 57% profit jump in 9M 2019

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Share Price

Saudi Arabia Refineries Co. (SARCO)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

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SARCO reports 57% profit jump in 9M 2019

View other reports

Share Price

Saudi Arabia Refineries Co. (SARCO)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

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