Saudi Chemical posts higher net profit at SAR 300.6m at the end of 2013

31/12/2013 Argaam Exclusive

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Share Price

9.22
0.27 3.02 %

Saudi Chemical Co. (CHEMICAL)

Saudi Chemical Company, a manufacturer of civil explosives, reported SAR 300.6m net profit at the end of 2013, a 3% increase compared to last year, as shown in the following table:

 



Financials (M)

Item 2012 2013 Change‬
Revenues 2,001.33 2,275.12 13.7 %
Gross Income 474.51 479.48 1.0 %
Operating Income 322.94 315.47 (2.3 %)
Net Income 291.27 300.60 3.2 %
Average Shares 843.20 843.20 -
EPS (Riyals) 0.35 0.36 3.2 %


Current Quarter Comparison (M)

Compared With The
Item Q4 2012 Q4 2013 Change‬
Revenues 653.09 692.39 6.0 %
Gross Income 120.26 130.62 8.6 %
Operating Income 72.51 80.86 11.5 %
Net Income 65.77 74.75 13.6 %
Average Shares 843.20 843.20 -
EPS (Riyals) 0.08 0.09 13.6 %


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2004 225.01 3.1 % 19.14 (32.8 %) 3.31 (68.9 %) 0.00
Q2 2004 194.54 24.8 % 19.22 (27.6 %) 7.38 (54.2 %) 0.01
Q3 2004 163.74 18.3 % 22.65 (46.1 %) 1.55 (73.1 %) 0.00
Q4 2004 190.80 7.9 % 26.69 265.6 % (10.59) (1263.8 %) (0.01)
Q1 2005 249.42 10.8 % 27.64 44.4 % 22.08 567.6 % 0.03
Q2 2005 207.04 6.4 % 33.99 76.8 % 27.27 269.5 % 0.03
Q3 2005 199.01 21.5 % 55.60 145.5 % 33.63 2064.0 % 0.04
Q4 2005 298.55 56.5 % 64.14 140.3 % 27.06 355.5 % 0.03
Q1 2006 268.46 7.6 % 53.36 93.1 % 30.94 40.1 % 0.04
Q2 2006 206.47 (0.3 %) 50.47 48.5 % 34.34 25.9 % 0.04
Q3 2006 213.23 7.1 % 54.65 (1.7 %) 42.18 25.4 % 0.05
Q4 2006 338.83 13.5 % 54.81 (14.5 %) 40.59 50.0 % 0.05
Q1 2007 301.26 12.2 % 56.55 6.0 % 39.95 29.1 % 0.05
Q2 2007 293.66 42.2 % 58.28 15.5 % 37.92 10.4 % 0.04
Q3 2007 258.19 21.1 % 43.61 (20.2 %) 12.47 (70.4 %) 0.01
Q4 2007 377.02 11.3 % 47.89 (12.6 %) 21.43 (47.2 %) 0.03
Q1 2008 407.29 35.2 % 70.72 25.1 % 33.72 (15.6 %) 0.04
Q2 2008 368.01 25.3 % 57.24 (1.8 %) 62.22 64.1 % 0.07
Q3 2008 283.04 9.6 % 60.52 38.8 % 44.89 260.0 % 0.05
Q4 2008 478.82 27.0 % 77.37 61.6 % 59.71 178.7 % 0.07
Q1 2009 422.98 3.9 % 86.46 22.3 % 67.48 100.1 % 0.08
Q2 2009 396.24 7.7 % 86.27 50.7 % 63.76 2.5 % 0.08
Q3 2009 350.64 23.9 % 75.14 24.2 % 104.70 133.2 % 0.12
Q4 2009 473.48 (1.1 %) 98.42 27.2 % 65.10 9.0 % 0.08
Q1 2010 404.20 (4.4 %) 98.12 13.5 % 74.73 10.7 % 0.09
Q2 2010 435.49 9.9 % 106.98 24.0 % 86.47 35.6 % 0.10
Q3 2010 279.73 (20.2 %) 84.51 12.5 % 54.21 (48.2 %) 0.06
Q4 2010 538.90 13.8 % 111.94 13.7 % 87.77 34.8 % 0.10
Q1 2011 469.13 16.1 % 127.36 29.8 % 86.18 15.3 % 0.10
Q2 2011 364.79 (16.2 %) 114.09 6.6 % 76.03 (12.1 %) 0.09
Q3 2011 412.74 47.5 % 86.14 1.9 % 46.73 (13.8 %) 0.06
Q4 2011 620.91 15.2 % 105.82 (5.5 %) 58.46 (33.4 %) 0.07
Q1 2012 543.96 16.0 % 125.43 (1.5 %) 87.87 2.0 % 0.10
Q2 2012 464.55 27.3 % 132.00 15.7 % 86.89 14.3 % 0.10
Q3 2012 339.73 (17.7 %) 96.82 12.4 % 50.74 8.6 % 0.06
Q4 2012 653.09 5.2 % 120.26 13.6 % 65.77 12.5 % 0.08
Q1 2013 608.71 11.9 % 118.07 (5.9 %) 88.29 0.5 % 0.10
Q2 2013 561.58 20.9 % 131.45 (0.4 %) 77.19 (11.2 %) 0.09
Q3 2013 412.44 21.4 % 103.64 7.0 % 60.38 19.0 % 0.07
Q4 2013 692.39 6.0 % 130.62 8.6 % 74.75 13.6 % 0.09
2013 2,275.12 13.7 % 479.48 1.0 % 300.60 3.2 % 0.36

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 13.65 % 16.80 % 3.75 %
Q2 2004 11.94 % 14.18 % 2.36 %
Q3 2004 8.99 % 11.13 % 1.73 %
Q4 2004 11.33 % 13.41 % 0.21 %
Q1 2005 12.05 % 14.09 % 2.56 %
Q2 2005 13.68 % 15.74 % 4.97 %
Q3 2005 17.01 % 18.97 % 8.55 %
Q4 2005 19.01 % 20.11 % 11.53 %
Q1 2006 21.28 % 21.46 % 12.22 %
Q2 2006 22.99 % 21.74 % 12.95 %
Q3 2006 22.56 % 20.18 % 13.63 %
Q4 2006 20.77 % 17.19 % 14.42 %
Q1 2007 20.43 % 16.53 % 14.82 %
Q2 2007 19.55 % 16.07 % 14.01 %
Q3 2007 17.89 % 14.49 % 10.98 %
Q4 2007 16.77 % 13.45 % 9.09 %
Q1 2008 16.50 % 13.37 % 7.90 %
Q2 2008 15.56 % 12.46 % 9.20 %
Q3 2008 16.47 % 13.18 % 11.30 %
Q4 2008 17.29 % 14.64 % 13.05 %
Q1 2009 18.13 % 15.06 % 15.09 %
Q2 2009 19.65 % 16.67 % 14.92 %
Q3 2009 19.73 % 16.99 % 17.93 %
Q4 2009 21.07 % 17.70 % 18.32 %
Q1 2010 22.03 % 18.87 % 18.98 %
Q2 2010 22.76 % 19.69 % 19.89 %
Q3 2010 24.36 % 20.28 % 17.54 %
Q4 2010 24.21 % 19.99 % 18.22 %
Q1 2011 25.00 % 19.85 % 18.19 %
Q2 2011 26.50 % 20.18 % 18.34 %
Q3 2011 24.62 % 18.50 % 16.62 %
Q4 2011 23.21 % 17.03 % 14.32 %
Q1 2012 22.21 % 16.52 % 13.85 %
Q2 2012 22.01 % 16.23 % 13.71 %
Q3 2012 23.36 % 17.22 % 14.42 %
Q4 2012 23.71 % 17.12 % 14.55 %
Q1 2013 22.61 % 15.90 % 13.37 %
Q2 2013 21.57 % 14.90 % 12.32 %
Q3 2013 21.17 % 14.59 % 12.35 %
Q4 2013 21.26 % 14.70 % 12.53 %
2013 21.07 % 14.69 % 12.53 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2004 843.20 0.03 0.03 0.70
Q2 2004 843.20 0.02 0.02 0.71
Q3 2004 843.20 0.02 0.02 0.71
Q4 2004 843.20 0.00 0.00 0.70
Q1 2005 843.20 0.02 0.02 0.73
Q2 2005 843.20 0.05 0.05 0.76
Q3 2005 843.20 0.09 0.09 0.80
Q4 2005 843.20 0.13 0.13 0.83
Q1 2006 843.20 0.14 0.14 0.87
Q2 2006 843.20 0.15 0.15 0.91
Q3 2006 843.20 0.16 0.16 0.96
Q4 2006 843.20 0.18 0.18 1.00
Q1 2007 843.20 0.19 0.19 1.05
Q2 2007 843.20 0.19 0.19 1.02
Q3 2007 843.20 0.16 0.16 1.04
Q4 2007 843.20 0.13 0.13 1.06
Q1 2008 843.20 0.13 0.13 1.10
Q2 2008 843.20 0.15 0.15 1.18
Q3 2008 843.20 0.19 0.19 1.23
Q4 2008 843.20 0.24 0.24 1.30
Q1 2009 843.20 0.28 0.28 1.38
Q2 2009 843.20 0.28 0.28 1.46
Q3 2009 843.20 0.35 0.35 1.58
Q4 2009 843.20 0.36 0.36 1.47
Q1 2010 843.20 0.37 0.37 1.56
Q2 2010 843.20 0.39 0.39 1.55
Q3 2010 843.20 0.33 0.33 1.61
Q4 2010 843.20 0.36 0.36 1.60
Q1 2011 843.20 0.37 0.37 1.71
Q2 2011 843.20 0.36 0.36 1.65
Q3 2011 843.20 0.35 0.35 1.70
Q4 2011 843.20 0.32 0.32 1.62
Q1 2012 843.20 0.32 0.32 1.73
Q2 2012 843.20 0.33 0.33 1.72
Q3 2012 843.20 0.34 0.34 1.78
Q4 2012 843.20 0.35 0.35 1.69
Q1 2013 843.20 0.35 0.33 1.79
Q2 2013 843.20 0.33 0.32 1.77
Q3 2013 843.20 0.35 0.33 1.84
Q4 2013 843.20 0.36 0.34 1.78

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 65.04 65.04 2.87
Q2 2004 More than 100 More than 100 3.31
Q3 2004 More than 100 More than 100 3.83
Q4 2004 More than 100 More than 100 3.26
Q1 2005 More than 100 More than 100 3.77
Q2 2005 85.55 85.55 5.40
Q3 2005 53.04 53.04 5.71
Q4 2005 46.07 46.07 7.25
Q1 2006 26.94 26.94 4.39
Q2 2006 28.11 28.11 4.63
Q3 2006 33.14 33.14 5.53
Q4 2006 12.92 12.92 2.26
Q1 2007 11.98 11.98 2.12
Q2 2007 11.42 11.42 2.13
Q3 2007 15.10 15.10 2.26
Q4 2007 20.51 20.51 2.56
Q1 2008 17.08 17.08 1.94
Q2 2008 22.53 22.53 2.95
Q3 2008 16.95 16.95 2.65
Q4 2008 6.61 6.61 1.21
Q1 2009 5.84 5.84 1.18
Q2 2009 7.48 7.48 1.44
Q3 2009 6.74 6.74 1.50
Q4 2009 8.70 8.70 2.11
Q1 2010 8.80 8.80 2.06
Q2 2010 7.78 7.78 1.97
Q3 2010 10.75 10.80 2.22
Q4 2010 8.68 8.71 1.94
Q1 2011 9.09 9.12 1.99
Q2 2011 9.50 9.54 2.08
Q3 2011 8.76 8.76 1.81
Q4 2011 9.29 9.29 1.82
Q1 2012 9.71 9.71 1.79
Q2 2012 8.67 8.67 1.68
Q3 2012 8.69 8.69 1.65
Q4 2012 9.71 9.71 1.99
Q1 2013 9.19 9.71 1.78
Q2 2013 10.32 10.92 1.95
Q3 2013 10.32 10.90 1.94
Q4 2013 11.57 12.20 2.32

Business Segments (Million)

Compared With The
Period Medicines and medical supplies Explosives sector Production of ammonium nitrate
Q1 2007 251.51 49.74 -
Q2 2007 233.73 59.94 -
Q3 2007 208.89 49.30 -
Q4 2007 330.46 46.56 -
Q1 2008 346.00 61.29 -
Q2 2008 300.28 67.74 -
Q3 2008 223.55 59.50 -
Q4 2008 423.99 54.83 -
Q1 2009 351.39 71.60 -
Q2 2009 327.68 68.57 -
Q3 2009 282.02 68.62 -
Q4 2009 394.61 78.87 -
Q1 2010 313.46 76.69 14.06
Q2 2010 329.91 91.05 14.52
Q3 2010 197.06 74.39 8.29
Q4 2010 458.47 71.57 8.86
Q1 2011 368.14 99.55 1.43
Q2 2011 269.28 95.51 -
Q3 2011 334.61 76.50 1.63
Q4 2011 532.27 86.84 1.81
Q1 2012 441.68 102.29 -
Q2 2012 347.97 115.14 1.43
Q3 2012 249.03 90.71 -
Q4 2012 560.94 90.71 1.44
Q1 2013 504.23 99.55 4.94
Q2 2013 454.26 110.50 (3.18)
Q3 2013 305.21 107.23 -
Q4 2013 595.40 97.00 -

Current
Market Cap (M Riyal) 7,774.30
Enterprise Value (EV) (M) 9,084.21
Shares Outstanding ((M)) 843.20
EPS ( Riyal) (TTM) 0.29
Book Value (BV) ( Riyal) 2.24
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 32.12
P/E (TTM) 32.12
Price/book 4.11
Return on Average Assets (%) (TTM) 4.6
Return on Average Equity (%) (TTM) 13.5

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