Petrochem’s Q2 EBITDA margin hits record high: Saudi Fransi Capital

National Petrochemicals Company’s (Petrochem) Q2 net profit came higher than estimates set by Saudi Fransi Capital, the investment firm said. Petrochem posted an all-time high EBITDA margin for the quarter, which contributed to the increase.

Saudi Fransi Capital maintained its “hold” recommendation on the company’s stock and reduced its target price from SAR 25 to SAR 24 per share.

Petrochem, which is 50-percent owned by SIIG, reported SAR 305.4 million earnings in Q2. The company’s overall H1 net profit rose 20 percent to SAR 407 million.