Petro Rabigh swings to net loss of SAR 3.842 bln in 9M 2020

27/10/2020 Argaam Exclusive

Rabigh Refining and Petrochemical Co. (Petro Rabigh) swung to net loss of SAR 3.842 billion in the first nine months of 2020, compared to a profit of SAR 343 million in the same period last year.



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 26,201.74 13,819.74 (47.3 %)
Gross Income 1,978.93 (1705.39) (186.2 %)
Operating Income 1,001.77 (2807.13) (380.2 %)
Net Income 342.56 (3841.73) (1221.5 %)
Average Shares 1,250.63 1,250.63 -
EPS (Riyals) 0.27 (3.07) (1221.5 %)

The decline came as the Petro Rabigh complex was under planned total shutdown for periodic maintenance and inspection for 60 days during the period, the firm said in a statement to Tadawul.

 

In addition, product margins were lower due to the challenging economic conditions amid COVID-19 pandemic, putting downward pressure on prices.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 8,742.11 7,051.72 (19.3 %)
Gross Income 870.60 133.19 (84.7 %)
Operating Income 595.98 (303.97) (151.0 %)
Net Income 394.17 (609.80) (254.7 %)
Average Shares 1,250.63 1,250.63 -
EPS (Riyals) 0.32 (0.49) (254.7 %)

The Q3 net loss stood at SAR 610 million, against a net profit of SAR 394 million in the same quarter last year, primarily due to lower refinery margins and the challenging market conditions amid COVID-19 pandemic.

 

The firm’s net loss narrowed 57.5% in Q3 2020 from SAR 1.435 billion in Q2 2020.

View other reports

Share Price

Rabigh Refining and Petrochemical Co.
8.15
(0.15) (1.81 %)

Rabigh Refining and Petrochemical Co. (PETRO RABIGH)

More


Financial Ratios
Current
Market Cap (M Riyal) 13,618.65
Enterprise Value (EV) (M) 41,903.23
Shares Outstanding ((M)) 1,671.00
EPS ( Riyal) (TTM) (3.08)
Book Value (BV) ( Riyal) 6.33
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.29
Return on Average Assets (%) (TTM) (8.04 )
Return on Average Equity (%) (TTM) (45.74 )
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request