Yansab's net profit tumbles 63% to SAR 344.9 mln in 9M 2020

18/10/2020 Argaam Exclusive

Yanbu National Petrochemical Co. (Yansab) reported a net profit after Zakat and tax of SAR 344.9 million for the first nine months of 2020, a slump of 63% year-on-year (YoY), due to lower average sales prices of all products, despite a decline in production inputs average cost.

 

Yansab is 51%-owned by Saudi Basic Industries Corporation (SABIC).



Financials (M)

Item 9m 2019 9m 2020 Change‬
Revenues 4,582.75 3,656.36 (20.2 %)
Gross Income 1,200.15 613.59 (48.9 %)
Operating Income 913.84 356.32 (61.0 %)
Net Income 918.82 344.92 (62.5 %)
Average Shares 562.50 562.50 -
EPS (Riyals) 1.63 0.61 (62.5 %)

The company’s net profit after Zakat and tax declined 8% YoY to SAR 195.6 million in Q3 2020, on lower average selling prices and higher production input average cost despite improved output and sales volumes.

 

On a quarter-on-quarter basis, the third-quarter net profit rose over four times, driven by higher average selling prices of all products and improved sales volumes.



Current Quarter Comparison (M)

Compared With The
Item Q3 2019 Q3 2020 Change‬
Revenues 1,422.74 1,440.73 1.3 %
Gross Income 296.05 277.21 (6.4 %)
Operating Income 205.38 201.04 (2.1 %)
Net Income 212.06 195.63 (7.7 %)
Average Shares 562.50 562.50 -
EPS (Riyals) 0.38 0.35 (7.7 %)

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Share Price

Yanbu National Petrochemical Co.
36.95
(0.35) (0.94 %)

Yanbu National Petrochemical Co. (YANSAB)

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Financial Ratios
Current
Market Cap (M Riyal) 20,784.38
Enterprise Value (EV) (M) 18,074.80
Shares Outstanding ((M)) 562.50
EPS ( Riyal) (TTM) 0.84
Book Value (BV) ( Riyal) 20.94
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 43.91
P/E (TTM) 43.91
Price/book 1.76
Return on Average Assets (%) (TTM) 3.3
Return on Average Equity (%) (TTM) 3.9
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