Chemanol turns to SAR 48.8 mln loss in Q1 2023

21/05/2023 Argaam Exclusive

Methanol Chemicals Co. (Chemanol) turned to a loss of SAR 48.8 million in Q1 2023 compared to a profit of SAR 102.7 million in the year-ago period, as the decline in average selling prices was not met with a similar decrease in raw materials prices.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 305.65 185.42 (39.3 %)
Gross Income 150.56 2.93 (98.1 %)
Operating Income 113.72 (40.64) (135.7 %)
Net Income 102.67 (48.84) (147.6 %)
Average Shares 67.45 67.45 -
EPS (Riyals) 1.52 (0.72) (147.6 %)

Additionally, production and sales volumes decreased due to periodic maintenance of some plants. The company also noted a slowdown in demand.

 

Compared to Q4 2022, net loss widened from SAR 15.96 million.

 

Shareholders equity, no minority interest, rose to SAR 1.17 billion as of March 31, 2023, compared to SAR 1.12 billion at the end of Q1 2022. 

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Share Price

Methanol Chemicals Co.
18.20
(0.16) (0.87 %)

Methanol Chemicals Co. (CHEMANOL)

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Financial Ratios
Current
Market Cap (M Riyal) 1,227.59
Enterprise Value (EV) (M) 1,651.53
Shares Outstanding ((M)) 67.45
EPS ( Riyal) (TTM) (2.54)
Book Value (BV) ( Riyal) 14.29
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.27
Return on Average Assets (%) (TTM) (9.06 )
Return on Average Equity (%) (TTM) (16.31 )
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