Saudi Kayan widens 2020 net losses to SAR 784.7 mln

21/01/2021 Argaam Exclusive

Saudi Kayan Petrochemical Co.’s (Saudi Kayan) annual net loss after Zakat and tax widened to SAR 784.7 million for 2020, compared to SAR 636.8 million a year earlier.

 

Higher losses were driven by lower average selling prices, and decline in production volumes and sales due to the scheduled periodic maintenance, despite lower average feedstock cost, as well as a decrease in financing costs, and general and administrative (G&A) expenses.



Financials (M)

Item 2019 2020 Change‬
Revenues 9,536.40 8,007.33 (16.0 %)
Gross Income 1,072.21 447.88 (58.2 %)
Operating Income 379.00 (167.38) (144.2 %)
Net Income (636.78) (784.73) (23.2 %)
Average Shares 1,500.00 1,500.00 -
EPS (Riyals) (0.42) (0.52) (23.2 %)

In Q4 2020, the petrochemicals major turned to a net profit after Zakat and tax of SAR 158.4 million, compared to a net loss after Zakat and tax of SAR 167.4 million, thanks to higher average selling prices, lower average feedstock cost and drop in financing costs, and G&A expenses.

 

On a quarterly basis, Saudi Kayan swung to a net profit.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 2,259.67 2,476.95 9.6 %
Gross Income 229.92 480.88 109.1 %
Operating Income 39.70 299.91 655.5 %
Net Income (167.41) 158.42 194.6 %
Average Shares 1,500.00 1,500.00 -
EPS (Riyals) (0.11) 0.11 194.6 %

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Share Price

Saudi Kayan Petrochemical Co.
7.38
(0.18) (2.38 %)

Saudi Kayan Petrochemical Co. (SAUDI KAYAN)

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Financial Ratios
Current
Market Cap (M Riyal) 11,070.00
Enterprise Value (EV) (M) 19,730.11
Shares Outstanding ((M)) 1,500.00
EPS ( Riyal) (TTM) (1.16)
Book Value (BV) ( Riyal) 8.10
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 0.91
Return on Average Assets (%) (TTM) (6.64 )
Return on Average Equity (%) (TTM) (13.30 )
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