Chemanol swings to net loss in nine-months 2015

20/10/2015 Argaam Exclusive

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Share Price

Methanol Chemicals Co. (CHEMANOL)

Methanol Chemicals Co. (Chemanol) reported a net loss of SAR 79.21 million for the first nine months of 2015, compared to a net profit of SAR 50.41 million in the same period last year, mainly due to a continuous decline in global methanol prices, the shutdown of its paraformaldehyde plant in Q1, and slow-moving inventory.

Financials (M)

Item	9m 2014	9m 2015	Change‬
Revenues	674.34	566.97	(15.9 %)
Gross Income	159.30	40.36	(74.7 %)
Operating Income	78.36	(49.03)	(162.6 %)
Net Income	50.41	(79.62)	(257.9 %)
Average Shares	67.45	67.45	0.0 %
EPS (Riyals)	0.75	(1.18)	(257.9 %)

The company also suffered a net loss of SAR 42.79 million in Q3-2015, compared to a net profit of SAR 10.34 million in the same period last year.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2014	Q3 2015	Change‬
Revenues	220.18	174.28	(20.8 %)
Gross Income	47.85	(10.79)	(122.5 %)
Operating Income	21.62	(35.70)	(265.1 %)
Net Income	10.34	(42.93)	(515.2 %)
Average Shares	67.45	67.45	0.0 %
EPS (Riyals)	0.15	(0.64)	(515.2 %)

Item	Q2 2015	Q3 2015	Change‬
Revenues	196.26	174.28	(11.2 %)
Gross Income	25.72	(10.79)	(142.0 %)
Operating Income	(6.93)	(35.70)	(414.8 %)
Net Income	(21.55)	(42.93)	(99.2 %)
Average Shares	67.45	67.45	-
EPS (Riyals)	(0.32)	(0.64)	(99.2 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2006	-	-	-	-	-	-	-
Q2 2006	-	-	-	-	-	-	-
Q3 2006	-	-	-	-	-	-	-
Q4 2006	-	-	-	-	-	-	-
2006	376.22	-	110.99	-	44.47	-	1.32
Q1 2007	-	-	-	-	-	-	-
Q2 2007	-	-	-	-	-	-	-
Q3 2007	117.56	-	27.67	-	5.89	-	0.17
Q4 2007	126.48	-	24.79	-	4.16	-	0.12
2007	461.37	22.6 %	104.17	(6.1 %)	24.68	(44.5 %)	0.73
Q1 2008	128.77	-	29.21	-	8.04	-	0.24
Q2 2008	145.99	-	30.64	-	7.49	-	0.22
Q3 2008	158.26	34.6 %	34.94	26.3 %	13.18	123.8 %	0.20
Q4 2008	137.65	8.8 %	28.55	15.1 %	9.53	129.3 %	0.14
2008	570.67	23.7 %	123.34	18.4 %	38.24	54.9 %	0.57
Q1 2009	105.91	(17.8 %)	25.72	(11.9 %)	5.04	(37.3 %)	0.07
Q2 2009	102.33	(29.9 %)	25.50	(16.8 %)	5.60	(25.2 %)	0.08
Q3 2009	97.55	(38.4 %)	23.23	(33.5 %)	5.70	(56.8 %)	0.08
Q4 2009	96.51	(29.9 %)	22.90	(19.8 %)	5.71	(40.1 %)	0.08
2009	402.30	(29.5 %)	97.35	(21.1 %)	22.06	(42.3 %)	0.33
Q1 2010	111.84	5.6 %	30.38	18.1 %	9.06	79.8 %	0.13
Q2 2010	113.18	10.6 %	30.48	19.5 %	8.61	53.8 %	0.13
Q3 2010	174.92	79.3 %	19.96	(14.1 %)	(15.63)	(374.2 %)	(0.23)
Q4 2010	189.56	96.4 %	38.09	66.3 %	4.00	(29.9 %)	0.06
2010	589.50	46.5 %	118.92	22.2 %	6.04	(72.6 %)	0.09
Q1 2011	192.43	72.1 %	41.32	36.0 %	9.65	6.5 %	0.14
Q2 2011	197.40	74.4 %	42.49	39.4 %	10.60	23.1 %	0.16
Q3 2011	213.76	22.2 %	55.02	175.7 %	26.65	270.5 %	0.40
Q4 2011	226.15	19.3 %	52.99	39.1 %	23.31	482.8 %	0.35
2011	829.74	40.8 %	191.81	61.3 %	70.21	1062.4 %	1.04
Q1 2012	235.42	22.3 %	61.94	49.9 %	25.26	161.8 %	0.37
Q2 2012	237.93	20.5 %	62.80	47.8 %	25.83	143.7 %	0.38
Q3 2012	223.86	4.7 %	58.72	6.7 %	25.16	(5.6 %)	0.37
Q4 2012	223.53	(1.2 %)	49.58	(6.4 %)	15.19	(34.8 %)	0.23
2012	920.75	11.0 %	233.04	21.5 %	91.43	30.2 %	1.36
Q1 2013	215.29	(8.6 %)	52.58	(15.1 %)	14.07	(44.3 %)	0.21
Q2 2013	177.92	(25.2 %)	34.91	(44.4 %)	0.04	(99.8 %)	0.00
Q3 2013	220.07	(1.7 %)	58.80	0.1 %	22.01	(12.5 %)	0.33
Q4 2013	260.45	16.5 %	68.91	39.0 %	36.00	137.0 %	0.53
2013	873.72	(5.1 %)	215.75	(7.4 %)	72.12	(21.1 %)	1.07
Q1 2014	231.55	7.6 %	63.62	21.0 %	24.21	72.1 %	0.36
Q2 2014	222.60	25.1 %	46.56	33.4 %	15.86	39550.0 %	0.24
Q3 2014	220.18	0.0 %	47.85	(18.6 %)	10.34	(53.0 %)	0.15
Q4 2014	210.33	(19.2 %)	29.08	(57.8 %)	(18.21)	(150.6 %)	(0.27)
2014	884.67	1.3 %	188.38	(12.7 %)	32.20	(55.4 %)	0.48
Q1 2015	196.44	(15.2 %)	23.46	(63.1 %)	(15.14)	(162.5 %)	(0.22)
Q2 2015	196.26	(11.8 %)	25.72	(44.8 %)	(21.55)	(235.9 %)	(0.32)
Q3 2015	174.28	(20.8 %)	(10.79)	(122.5 %)	(42.93)	(515.2 %)	(0.64)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2005	-	-	-	-	-	-	-
2006	376.22	-	110.99	-	44.47	-	1.32
2007	461.37	22.6 %	104.17	(6.1 %)	24.68	(44.5 %)	0.73
2008	570.67	23.7 %	123.34	18.4 %	38.24	54.9 %	0.57
2009	402.30	(29.5 %)	97.35	(21.1 %)	22.06	(42.3 %)	0.33
2010	589.50	46.5 %	118.92	22.2 %	6.04	(72.6 %)	0.09
2011	829.74	40.8 %	191.81	61.3 %	70.21	1062.4 %	1.04
2012	920.75	11.0 %	233.04	21.5 %	91.43	30.2 %	1.36
2013	873.72	(5.1 %)	215.75	(7.4 %)	72.12	(21.1 %)	1.07
2014	884.67	1.3 %	188.38	(12.7 %)	32.20	(55.4 %)	0.48

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
2006	29.50 %	19.07 %	11.82 %
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
2007	22.58 %	13.20 %	5.35 %
Q1 2008	-	-	-
Q2 2008	21.65 %	11.54 %	4.93 %
Q3 2008	21.37 %	12.80 %	5.87 %
Q4 2008	21.61 %	12.77 %	6.70 %
2008	21.61 %	12.77 %	6.70 %
Q1 2009	21.88 %	12.42 %	6.43 %
Q2 2009	22.75 %	12.88 %	6.62 %
Q3 2009	23.23 %	13.04 %	5.83 %
Q4 2009	24.20 %	14.58 %	5.48 %
2009	24.20 %	14.58 %	5.48 %
Q1 2010	24.99 %	16.18 %	6.39 %
Q2 2010	25.53 %	16.23 %	6.94 %
Q3 2010	20.89 %	17.99 %	1.56 %
Q4 2010	20.17 %	24.18 %	1.02 %
2010	20.17 %	24.18 %	1.02 %
Q1 2011	19.38 %	26.97 %	0.99 %
Q2 2011	18.81 %	29.76 %	1.14 %
Q3 2011	22.31 %	33.82 %	6.42 %
Q4 2011	23.12 %	32.82 %	8.46 %
2011	23.12 %	32.81 %	8.46 %
Q1 2012	24.34 %	33.28 %	9.83 %
Q2 2012	25.49 %	33.78 %	11.06 %
Q3 2012	25.61 %	33.02 %	10.78 %
Q4 2012	25.31 %	32.12 %	9.93 %
2012	25.31 %	32.12 %	9.93 %
Q1 2013	24.84 %	31.58 %	8.91 %
Q2 2013	23.29 %	30.28 %	6.48 %
Q3 2013	23.41 %	29.74 %	6.13 %
Q4 2013	24.63 %	31.81 %	8.19 %
2013	24.69 %	31.87 %	8.25 %
Q1 2014	25.42 %	32.34 %	9.18 %
Q2 2014	25.45 %	32.40 %	10.43 %
Q3 2014	24.28 %	31.79 %	9.18 %
Q4 2014	21.15 %	27.80 %	4.20 %
2014	21.29 %	27.80 %	4.20 %
Q1 2015	17.30 %	24.42 %	(0.25 %)
Q2 2015	15.32 %	22.01 %	(4.04 %)
Q3 2015	8.68 %	16.11 %	(11.13 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2005	-	-	-
2006	29.50 %	19.07 %	11.82 %
2007	22.58 %	13.20 %	5.35 %
2008	21.61 %	12.77 %	6.70 %
2009	24.20 %	14.58 %	5.48 %
2010	20.17 %	24.18 %	1.02 %
2011	23.12 %	32.81 %	8.46 %
2012	25.31 %	32.12 %	9.93 %
2013	24.69 %	31.87 %	8.25 %
2014	21.29 %	27.80 %	4.20 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2006	-	-	-
Q2 2006	-	-	-
Q3 2006	-	-	-
Q4 2006	-	-	-
Q1 2007	-	-	-
Q2 2007	-	-	-
Q3 2007	23.54 %	-	5.01 %
Q4 2007	19.60 %	10.66 %	3.29 %
Q1 2008	22.68 %	14.71 %	6.24 %
Q2 2008	20.99 %	12.26 %	5.13 %
Q3 2008	22.08 %	13.44 %	8.33 %
Q4 2008	20.74 %	10.72 %	6.92 %
Q1 2009	24.28 %	13.35 %	4.76 %
Q2 2009	24.92 %	14.47 %	5.47 %
Q3 2009	23.81 %	14.51 %	5.84 %
Q4 2009	23.73 %	16.13 %	5.92 %
Q1 2010	27.16 %	19.23 %	8.10 %
Q2 2010	26.93 %	14.82 %	7.61 %
Q3 2010	11.41 %	20.28 %	(8.94 %)
Q4 2010	20.09 %	36.28 %	2.11 %
Q1 2011	21.47 %	31.01 %	5.01 %
Q2 2011	21.52 %	30.69 %	5.37 %
Q3 2011	25.74 %	37.08 %	12.47 %
Q4 2011	23.43 %	32.19 %	10.31 %
Q1 2012	26.31 %	33.06 %	10.73 %
Q2 2012	26.39 %	33.05 %	10.86 %
Q3 2012	26.23 %	33.78 %	11.24 %
Q4 2012	22.18 %	28.48 %	6.80 %
Q1 2013	24.42 %	30.87 %	6.54 %
Q2 2013	19.62 %	27.43 %	0.02 %
Q3 2013	26.72 %	31.79 %	10.00 %
Q4 2013	26.46 %	35.58 %	13.61 %
Q1 2014	27.48 %	32.98 %	10.46 %
Q2 2014	20.92 %	28.69 %	7.12 %
Q3 2014	21.73 %	29.18 %	4.70 %
Q4 2014	13.83 %	19.73 %	(6.28 %)
Q1 2015	11.94 %	19.28 %	(7.71 %)
Q2 2015	13.10 %	19.14 %	(7.77 %)
Q3 2015	(6.19 %)	4.76 %	(24.63 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2006	-	-	-	-
Q2 2006	-	-	-	-
Q3 2006	-	-	-	-
Q4 2006	-	-	-	-
Q1 2007	-	-	-	-
Q2 2007	-	-	-	-
Q3 2007	33.73	-	-	19.98
Q4 2007	33.73	-	-	20.11
Q1 2008	33.73	-	-	20.35
Q2 2008	33.73	0.76	0.76	20.57
Q3 2008	67.45	0.49	0.49	20.56
Q4 2008	67.45	0.57	0.57	20.61
Q1 2009	67.45	0.52	0.52	20.68
Q2 2009	67.45	0.49	0.49	20.76
Q3 2009	67.45	0.38	0.38	20.83
Q4 2009	67.45	0.33	0.33	20.91
Q1 2010	67.45	0.39	0.39	21.04
Q2 2010	67.45	0.43	0.43	21.16
Q3 2010	67.45	0.11	0.11	20.92
Q4 2010	67.45	0.09	0.09	20.98
Q1 2011	67.45	0.10	0.10	21.11
Q2 2011	67.45	0.13	0.13	21.26
Q3 2011	67.45	0.75	0.75	21.65
Q4 2011	67.45	1.04	1.04	21.99
Q1 2012	67.45	1.27	1.27	22.36
Q2 2012	67.45	1.50	1.50	22.74
Q3 2012	67.45	1.48	1.48	23.11
Q4 2012	67.45	1.36	1.36	23.32
Q1 2013	67.45	1.19	1.19	23.53
Q2 2013	67.45	0.81	0.81	22.63
Q3 2013	67.45	0.76	0.76	22.95
Q4 2013	67.45	1.07	1.06	23.47
Q1 2014	67.45	1.22	1.21	23.82
Q2 2014	67.45	1.45	1.45	22.98
Q3 2014	67.45	1.28	1.27	23.13
Q4 2014	67.45	0.48	0.55	22.85
Q1 2015	67.45	(0.11)	(0.03)	22.59
Q2 2015	67.45	(0.66)	(0.49)	22.28
Q3 2015	67.45	(1.45)	(1.28)	21.64

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2005	-	-	-	-
2006	33.73	1.32	1.32	19.37
2007	33.73	0.73	0.73	20.11
2008	67.45	0.57	0.57	20.61
2009	67.45	0.33	0.33	20.91
2010	67.45	0.09	0.09	20.98
2011	67.45	1.04	1.04	21.99
2012	67.45	1.36	1.36	23.32
2013	67.45	1.07	1.07	23.47
2014	67.45	0.48	0.55	22.85

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	-	-	-
Q2 2007	-	-	-
Q3 2007	-	-	-
Q4 2007	-	-	-
Q1 2008	-	-	-
Q2 2008	-	-	-
Q3 2008	More than 50	More than 50	1.30
Q4 2008	35.17	35.17	0.97
Q1 2009	37.82	37.82	0.96
Q2 2009	More than 50	More than 50	1.31
Q3 2009	More than 50	More than 50	1.40
Q4 2009	More than 50	More than 50	1.32
Q1 2010	More than 50	More than 50	1.32
Q2 2010	More than 50	More than 50	1.22
Q3 2010	More than 50	More than 50	1.30
Q4 2010	More than 50	More than 50	1.38
Q1 2011	More than 50	More than 50	1.18
Q2 2011	More than 50	More than 50	1.17
Q3 2011	27.13	27.13	0.95
Q4 2011	20.78	20.78	0.98
Q1 2012	28.39	28.39	1.62
Q2 2012	16.47	16.47	1.09
Q3 2012	17.02	17.02	1.09
Q4 2012	17.61	17.61	1.02
Q1 2013	20.74	20.74	1.05
Q2 2013	27.46	27.46	0.98
Q3 2013	30.44	30.44	1.01
Q4 2013	25.50	25.70	1.16
Q1 2014	24.04	24.21	1.23
Q2 2014	19.85	19.96	1.26
Q3 2014	24.12	24.27	1.34
Q4 2014	44.31	38.36	0.93
Q1 2015	NEG	NEG	1.09
Q2 2015	NEG	NEG	1.05
Q3 2015	NEG	NEG	0.75

Period	P/E	Adjusted P/E	Price/book
2005	-	-	-
2006	-	-	-
2007	-	-	-
2008	35.16	35.16	0.97
2009	More than 50	More than 50	1.32
2010	More than 50	More than 50	1.38
2011	20.78	20.78	0.98
2012	17.61	17.61	1.02
2013	25.50	25.50	1.16
2014	44.31	38.35	0.93

Analysts Estimates (Million)

Item	Q3 2015 (e)	Q3 2015 (a)	Change‬
Average	(9.00)	(42.93)	(377.0 %)

Estimates vs Actual (Million)

Item	Q3 2015 (e)	Q3 2015 (a)	Change
SFC	(9.00)	(42.93)	(377.0) %

Financial Ratios

	Current
Market Cap (M Riyal)	1,094.04
Enterprise Value (EV) (M)	1,479.76
Shares Outstanding ((M))	67.45
EPS ( Riyal) (TTM)	(2.27)
Book Value (BV) ( Riyal)	15.06
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	1.08
Return on Average Assets (%) (TTM)	(8.34 )
Return on Average Equity (%) (TTM)	(14.02 )

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Chemanol swings to net loss in nine-months 2015

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Share Price

Methanol Chemicals Co. (CHEMANOL)

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

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Chemanol swings to net loss in nine-months 2015

View other reports

Share Price

Methanol Chemicals Co. (CHEMANOL)

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

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