Yansab swings to SAR 485.1M loss in 2023; Q4 profit at SAR 18.5M

19/02/2024 Argaam Exclusive

Yanbu National Petrochemical Co. (Yansab), which is 51% owned by SABIC, recorded a net loss of SAR 485.1 million in 2023, versus a profit of SAR 414.1 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 7,024.05 4,532.73 (35.5 %)
Gross Income 970.42 (53.37) (105.5 %)
Operating Income 442.45 (494.86) (211.8 %)
Net Income 414.15 (485.14) (217.1 %)
Average Shares 562.50 562.50 -
EPS (Riyals) 0.74 (0.86) (217.1 %)

The company reported a decline in revenues due to the lower average selling prices of all products compared to the previous year. In addition, production and sales volumes declined. This was offset by a decrease in some production input costs.

 

Yansab announced a temporary shutdown for plants that started on Aug. 14, 2023, due to a technical issue. It added that the financial impact is estimated at SAR 150 million, predicting it to appear in Q3 and Q4 2023.  



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 1,385.22 1,444.97 4.3 %
Gross Income 56.44 138.11 144.7 %
Operating Income (95.48) 23.62 124.7 %
Net Income (96.43) 18.46 119.1 %
Average Shares 562.50 562.50 -
EPS (Riyals) (0.17) 0.03 119.1 %

The petrochemical producer reported a net profit of SAR 18.5 million in Q4 2023 against a loss of SAR 96.45 million in the year-ago period, as production levels stabilized in the fourth quarter leading to an increase in sales volume.

 

Yansab posted a loss of SAR 161.32 million in Q3 2023.

 

Shareholders’ equity, no minority interest, fell to SAR 11.9 billion as of Dec. 31, 2023, from SAR 14.05 billion a year earlier.

 

Attached Documents

 

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Share Price

Yanbu National Petrochemical Co.
37.85
(0.90) (2.32 %)

Yanbu National Petrochemical Co. (YANSAB)

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Financial Ratios
Current
Market Cap (M Riyal) 21,290.63
Enterprise Value (EV) (M) 18,581.05
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) 44.98
P/E (TTM) 44.98
Price/book 1.81
Return on Average Assets (%) (TTM) 3.3
Return on Average Equity (%) (TTM) 3.9
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