Sipchem profit plunges 67% to SAR 1.01 bln in 9M 2023, Q3 drops to SAR 233.1 mln

18/10/2023 Argaam Exclusive

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Sahara International Petrochemical Co. (Sipchem) posted a 67% drop in net profit to SAR 1.01 billion in the first nine months of 2023, compared to SAR 3.11 billion in the prior-year period.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	8,298.94	5,578.23	(32.8 %)
Gross Income	4,028.43	1,740.36	(56.8 %)
Operating Income	3,430.00	1,218.83	(64.5 %)
Net Income	3,116.33	1,016.34	(67.4 %)
Average Shares	733.33	733.33	-
EPS (Riyals)	4.25	1.39	(67.4 %)

The lower profit was due to a decline in revenues on lower product prices, as well as a fall in sales volumes due to the periodic turnaround maintenance activities of International Methanol Co. and International Diol Co.

In addition, the company's share of profits from investments in a joint venture and associates decreased.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	2,853.42	1,789.37	(37.3 %)
Gross Income	1,123.18	457.83	(59.2 %)
Operating Income	909.91	304.68	(66.5 %)
Net Income	774.41	233.09	(69.9 %)
Average Shares	733.33	733.33	-
EPS (Riyals)	1.06	0.32	(69.9 %)

Item	Q2 2023	Q3 2023	Change‬
Revenues	1,701.55	1,789.37	5.2 %
Gross Income	527.62	457.83	(13.2 %)
Operating Income	353.11	304.68	(13.7 %)
Net Income	312.92	233.09	(25.5 %)
Average Shares	733.33	733.33	-
EPS (Riyals)	0.43	0.32	(25.5 %)

In Q3 2023, the petrochemical producer posted a 70% drop in its net profit to SAR 233.1 million from SAR 774.41 million in Q3 2022.

This was due to a fall in the company's share of profits from investments in joint venture and associates as well as lower product prices despite a drop in material prices.

Compared with the previous quarter, net profit fell by 25.5% from SAR 312.92 million, mainly due to lower product prices and a decline in the profit share from a joint venture and associates.

Total shareholders’ equity, after minority interest, declined to SAR 15.90 billion by the end of the nine-month period, from SAR 16.40 billion a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	927.45	8.2 %	233.36	29.3 %	167.70	12.0 %
Q2 2014	1,177.63	29.1 %	522.46	41.7 %	479.24	41.2 %
Q3 2014	1,019.33	2.1 %	317.91	(8.0 %)	270.04	(15.3 %)
Q4 2014	999.99	(23.3 %)	322.92	(31.2 %)	260.87	(26.3 %)
2014	4,124.41	1.3 %	1,396.64	2.4 %	1,177.85	1.4 %
Q1 2015	802.03	(13.5 %)	234.08	0.3 %	176.62	5.3 %
Q2 2015	1,006.95	(14.5 %)	287.40	(45.0 %)	227.47	(52.5 %)
Q3 2015	809.93	(20.5 %)	209.37	(34.1 %)	156.89	(41.9 %)
Q4 2015	871.77	(12.8 %)	102.15	(68.4 %)	12.39	(95.2 %)
2015	3,514.84	(14.8 %)	832.99	(40.4 %)	573.37	(51.3 %)
Q1 2016	923.99	15.2 %	268.86	14.9 %	164.80	(6.7 %)
Q2 2016	923.62	(8.3 %)	215.25	(25.1 %)	106.74	(53.1 %)
Q3 2016	717.85	(11.4 %)	128.24	(38.8 %)	31.56	(79.9 %)
Q4 2016	949.59	8.9 %	249.11	143.9 %	134.24	983.3 %
2016	3,515.04	0.0 %	861.45	3.4 %	437.34	(23.7 %)
Q1 2017	1,199.01	29.8 %	352.28	31.0 %	230.72	40.0 %
Q2 2017	918.28	(0.6 %)	281.06	30.6 %	175.49	64.4 %
Q3 2017	1,063.57	48.2 %	367.04	186.2 %	253.50	703.2 %
Q4 2017	1,278.63	34.6 %	425.67	70.9 %	274.99	104.8 %
2017	4,459.49	26.9 %	1,426.05	65.5 %	934.70	113.7 %
Q1 2018	1,170.94	(2.3 %)	414.77	17.7 %	283.58	22.9 %
Q2 2018	1,474.46	60.6 %	545.06	93.9 %	410.23	133.8 %
Q3 2018	1,337.75	25.8 %	470.38	28.2 %	327.98	29.4 %
Q4 2018	1,052.66	(17.7 %)	204.57	(51.9 %)	73.99	(73.1 %)
2018	5,035.80	12.9 %	1,634.78	14.6 %	1,095.78	17.2 %
Q1 2019	1,121.61	(4.2 %)	405.07	(2.3 %)	267.43	(5.7 %)
Q2 2019	1,409.42	(4.4 %)	488.57	(10.4 %)	320.44	(21.9 %)
Q3 2019	1,402.02	4.8 %	361.57	(23.1 %)	176.96	(46.0 %)
Q4 2019	1,506.69	43.1 %	380.04	85.8 %	141.44	91.2 %
2019	5,439.73	8.0 %	1,635.24	0.0 %	906.27	(17.3 %)
Q1 2020	1,404.09	25.2 %	272.39	(32.8 %)	66.35	(75.2 %)
Q2 2020	950.24	(32.6 %)	161.65	(66.9 %)	(23.42)	(107.3 %)
Q3 2020	1,361.94	(2.9 %)	220.28	(39.1 %)	17.70	(90.0 %)
Q4 2020	1,606.75	6.6 %	518.62	36.5 %	299.01	111.4 %
2020	5,323.02	(2.1 %)	1,172.94	(28.3 %)	359.63	(60.3 %)
Q1 2021	2,030.98	44.6 %	956.06	251.0 %	733.27	1005.2 %
Q2 2021	2,362.65	148.6 %	1,477.57	814.1 %	1,139.95	4968.3 %
Q3 2021	2,505.60	84.0 %	1,369.30	521.6 %	1,139.50	6339.3 %
Q4 2021	2,787.47	73.5 %	1,539.43	196.8 %	1,448.71	384.5 %
2021	9,686.69	82.0 %	5,342.36	355.5 %	4,461.43	1140.6 %
Q1 2022	2,348.11	15.6 %	1,321.34	38.2 %	1,149.14	56.7 %
Q2 2022	3,097.40	31.1 %	1,583.91	7.2 %	1,370.95	20.3 %
Q3 2022	2,853.42	13.9 %	1,123.18	(18.0 %)	909.91	(20.1 %)
Q4 2022	1,954.69	(29.9 %)	810.24	(47.4 %)	616.99	(57.4 %)
2022	10,253.63	5.9 %	4,838.68	(9.4 %)	4,046.99	(9.3 %)
Q1 2023	2,087.31	(11.1 %)	754.92	(42.9 %)	561.05	(51.2 %)
Q2 2023	1,701.55	(45.1 %)	527.62	(66.7 %)	353.11	(74.2 %)
Q3 2023	1,789.37	(37.3 %)	457.83	(59.2 %)	304.68	(66.5 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	4,071.61	3.8 %	1,364.56	7.7 %	1,162.05	2.3 %
2014	4,124.41	1.3 %	1,396.64	2.4 %	1,177.85	1.4 %
2015	3,514.84	(14.8 %)	832.99	(40.4 %)	573.37	(51.3 %)
2016	3,515.04	0.0 %	861.45	3.4 %	437.34	(23.7 %)
2017	4,459.49	26.9 %	1,426.05	65.5 %	934.70	113.7 %
2018	5,035.80	12.9 %	1,634.78	14.6 %	1,095.78	17.2 %
2019	5,439.73	8.0 %	1,635.24	0.0 %	906.27	(17.3 %)
2020	5,323.02	(2.1 %)	1,172.94	(28.3 %)	359.63	(60.3 %)
2021	9,686.69	82.0 %	5,342.36	355.5 %	4,461.43	1140.6 %
2022	10,253.63	5.9 %	4,838.68	(9.4 %)	4,046.99	(9.3 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	68.66	6.5 %	0.19	-	68.66	0.19
Q2 2014	244.60	40.6 %	0.67	-	244.60	0.67
Q3 2014	160.57	(13.3 %)	0.44	-	160.57	0.44
Q4 2014	132.40	(32.7 %)	0.36	(37.50)	169.90	0.46
2014	606.23	(2.3 %)	1.65	(37.50)	643.73	1.76
Q1 2015	80.62	17.4 %	0.22	-	80.62	0.22
Q2 2015	110.07	(55.0 %)	0.30	-	110.07	0.30
Q3 2015	71.58	(55.4 %)	0.20	-	71.58	0.20
Q4 2015	25.98	(80.4 %)	0.07	-	25.98	0.07
2015	288.24	(52.5 %)	0.79	-	288.24	0.79
Q1 2016	49.23	(38.9 %)	0.13	(21.50)	70.73	0.19
Q2 2016	11.37	(89.7 %)	0.03	-	11.37	0.03
Q3 2016	(49.38)	(169.0 %)	(0.13)	-	(49.38)	(0.13)
Q4 2016	31.87	22.7 %	0.09	-	31.87	0.09
2016	43.08	(85.1 %)	0.12	(21.50)	64.58	0.18
Q1 2017	91.65	86.2 %	0.25	-	91.65	0.25
Q2 2017	59.79	425.9 %	0.16	-	59.79	0.16
Q3 2017	121.55	346.1 %	0.33	-	121.55	0.33
Q4 2017	164.40	415.9 %	0.45	-	164.40	0.45
2017	437.39	915.2 %	1.19	-	437.39	1.19
Q1 2018	151.39	65.2 %	0.41	2.86	148.53	0.41
Q2 2018	211.37	253.5 %	0.58	(14.20)	225.57	0.62
Q3 2018	180.27	48.3 %	0.49	(13.96)	194.23	0.53
Q4 2018	39.92	(75.7 %)	0.11	24.83	15.09	0.04
2018	582.95	33.3 %	1.59	(0.47)	583.42	1.59
Q1 2019	114.72	(24.2 %)	0.18	(13.00)	127.72	0.20
Q2 2019	210.85	(0.2 %)	0.33	(4.50)	215.35	0.34
Q3 2019	111.05	(38.4 %)	0.17	(2.80)	113.85	0.18
Q4 2019	(137.10)	(443.4 %)	(0.21)	(23.51)	(113.60)	(0.18)
2019	299.53	(48.6 %)	0.47	(43.81)	343.33	0.54
Q1 2020	(52.83)	(146.0 %)	(0.07)	(188.91)	136.09	0.19
Q2 2020	(98.96)	(146.9 %)	(0.13)	-	(98.96)	(0.13)
Q3 2020	10.01	(91.0 %)	0.01	-	10.01	0.01
Q4 2020	317.64	331.7 %	0.43	71.36	246.28	0.34
2020	175.86	(41.3 %)	0.24	(117.55)	293.41	0.40
Q1 2021	411.47	878.9 %	0.56	(160.00)	571.47	0.78
Q2 2021	829.88	938.6 %	1.13	(72.10)	901.98	1.23
Q3 2021	1,029.51	10180.7 %	1.40	-	1,029.51	1.40
Q4 2021	1,321.00	315.9 %	1.80	9.40	1,311.60	1.79
2021	3,591.84	1942.4 %	4.90	(222.70)	3,814.54	5.20
Q1 2022	1,078.82	162.2 %	1.47	-	1,078.82	1.47
Q2 2022	1,263.10	52.2 %	1.72	-	1,263.10	1.72
Q3 2022	774.41	(24.8 %)	1.06	-	774.41	1.06
Q4 2022	478.96	(63.7 %)	0.65	(36.40)	515.36	0.70
2022	3,595.29	0.1 %	4.90	(36.40)	3,631.69	4.95
Q1 2023	470.33	(56.4 %)	0.64	-	470.33	0.64
Q2 2023	312.92	(75.2 %)	0.43	-	312.92	0.43
Q3 2023	233.09	(69.9 %)	0.32	-	233.09	0.32

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	620.45	3.2 %	1.69	-	620.45	1.69
2014	606.23	(2.3 %)	1.65	(37.50)	643.73	1.76
2015	288.24	(52.5 %)	0.79	-	288.24	0.79
2016	43.08	(85.1 %)	0.12	(21.50)	64.58	0.18
2017	437.39	915.2 %	1.19	-	437.39	1.19
2018	582.95	33.3 %	1.59	(0.47)	583.42	1.59
2019	299.53	(48.6 %)	0.47	(43.81)	343.33	0.54
2020	175.86	(41.3 %)	0.24	(117.55)	293.41	0.40
2021	3,591.84	1942.4 %	4.90	(222.70)	3,814.54	5.20
2022	3,595.29	0.1 %	4.90	(36.40)	3,631.69	4.95

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	34.22 %	42.01 %	15.08 %
Q2 2014	35.65 %	42.65 %	15.78 %
Q3 2014	34.86 %	41.78 %	15.15 %
Q4 2014	33.86 %	42.36 %	15.61 %
2014	33.86 %	42.36 %	15.61 %
Q1 2015	34.94 %	44.44 %	16.40 %
Q2 2015	30.36 %	40.88 %	13.61 %
Q3 2015	29.12 %	40.95 %	11.94 %
Q4 2015	23.86 %	36.22 %	8.26 %
2015	23.70 %	35.97 %	8.20 %
Q1 2016	24.02 %	36.37 %	7.70 %
Q2 2016	22.54 %	33.34 %	5.09 %
Q3 2016	20.79 %	27.62 %	1.71 %
Q4 2016	24.51 %	33.63 %	1.84 %
2016	24.51 %	33.63 %	1.84 %
Q1 2017	24.93 %	31.95 %	2.26 %
Q2 2017	26.70 %	34.06 %	3.54 %
Q3 2017	30.25 %	38.89 %	7.38 %
Q4 2017	31.98 %	37.10 %	9.81 %
2017	31.98 %	37.10 %	9.81 %
Q1 2018	33.59 %	39.50 %	11.15 %
Q2 2018	35.14 %	40.29 %	13.23 %
Q3 2018	35.27 %	39.61 %	13.93 %
Q4 2018	32.46 %	36.75 %	11.59 %
2018	32.46 %	36.75 %	11.59 %
Q1 2019	32.59 %	36.33 %	11.28 %
Q2 2019	31.87 %	35.20 %	11.22 %
Q3 2019	29.28 %	32.93 %	9.47 %
Q4 2019	30.06 %	31.54 %	6.31 %
2019	30.06 %	31.54 %	6.31 %
Q1 2020	26.26 %	27.08 %	6.15 %
Q2 2020	22.34 %	23.24 %	0.71 %
Q3 2020	19.80 %	21.11 %	(1.27 %)
Q4 2020	22.04 %	24.54 %	5.51 %
2020	22.04 %	24.54 %	5.51 %
Q1 2021	31.20 %	32.90 %	12.25 %
Q2 2021	43.09 %	42.55 %	23.49 %
Q3 2021	50.81 %	49.65 %	32.32 %
Q4 2021	55.15 %	56.32 %	39.38 %
2021	55.15 %	56.32 %	39.38 %
Q1 2022	57.05 %	58.67 %	43.20 %
Q2 2022	54.14 %	56.66 %	43.61 %
Q3 2022	50.22 %	52.99 %	39.94 %
Q4 2022	47.19 %	48.47 %	35.42 %
2022	47.19 %	48.47 %	35.42 %
Q1 2023	42.75 %	43.94 %	30.25 %
Q2 2023	37.41 %	39.25 %	24.11 %
Q3 2023	33.86 %	36.34 %	20.33 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	33.51 %	42.25 %	15.24 %
2014	33.86 %	42.36 %	15.61 %
2015	23.70 %	35.97 %	8.20 %
2016	24.51 %	33.63 %	1.84 %
2017	31.98 %	37.10 %	9.81 %
2018	32.46 %	36.75 %	11.59 %
2019	30.06 %	31.54 %	6.31 %
2020	22.04 %	24.54 %	5.51 %
2021	55.15 %	56.32 %	39.38 %
2022	47.19 %	48.47 %	35.42 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	25.16 %	32.27 %	7.40 %
Q2 2014	44.36 %	52.19 %	20.77 %
Q3 2014	31.19 %	41.03 %	15.75 %
Q4 2014	32.29 %	41.51 %	16.99 %
Q1 2015	29.19 %	41.05 %	10.05 %
Q2 2015	28.54 %	39.96 %	10.93 %
Q3 2015	25.85 %	41.40 %	8.84 %
Q4 2015	11.72 %	22.65 %	2.98 %
Q1 2016	29.10 %	41.00 %	7.65 %
Q2 2016	23.30 %	28.72 %	1.23 %
Q3 2016	17.86 %	15.00 %	(6.88 %)
Q4 2016	26.23 %	45.31 %	3.36 %
Q1 2017	29.38 %	34.00 %	7.64 %
Q2 2017	30.61 %	37.42 %	6.51 %
Q3 2017	34.51 %	39.96 %	11.43 %
Q4 2017	33.29 %	37.41 %	12.86 %
Q1 2018	35.42 %	43.01 %	12.68 %
Q2 2018	36.97 %	40.87 %	15.30 %
Q3 2018	35.16 %	37.34 %	14.52 %
Q4 2018	19.43 %	23.27 %	1.43 %
Q1 2019	36.11 %	41.41 %	11.39 %
Q2 2019	34.66 %	37.13 %	15.28 %
Q3 2019	25.79 %	29.18 %	8.12 %
Q4 2019	25.22 %	21.17 %	(7.54 %)
Q1 2020	19.40 %	21.25 %	9.69 %
Q2 2020	17.01 %	20.72 %	(10.41 %)
Q3 2020	16.17 %	21.17 %	0.74 %
Q4 2020	32.28 %	32.53 %	15.33 %
Q1 2021	47.07 %	46.76 %	28.14 %
Q2 2021	62.54 %	58.06 %	38.18 %
Q3 2021	54.65 %	55.04 %	41.09 %
Q4 2021	55.23 %	62.95 %	47.05 %
Q1 2022	56.27 %	58.06 %	45.94 %
Q2 2022	51.14 %	51.25 %	40.78 %
Q3 2022	39.36 %	40.98 %	27.14 %
Q4 2022	41.45 %	43.51 %	26.37 %
Q1 2023	36.17 %	37.54 %	22.53 %
Q2 2023	31.01 %	33.56 %	18.39 %
Q3 2023	25.59 %	29.75 %	13.03 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	366.67	1.70	1.70	15.35
Q2 2014	366.67	1.90	1.90	15.45
Q3 2014	366.67	1.83	1.83	15.90
Q4 2014	366.67	1.65	1.76	16.28
Q1 2015	366.67	1.69	1.79	15.85
Q2 2015	366.67	1.32	1.42	15.59
Q3 2015	366.67	1.08	1.18	15.78
Q4 2015	366.67	0.79	0.79	15.85
Q1 2016	366.67	0.70	0.76	14.36
Q2 2016	366.67	0.43	0.49	14.38
Q3 2016	366.67	0.10	0.16	14.25
Q4 2016	366.67	0.12	0.18	14.36
Q1 2017	366.67	0.23	0.23	14.61
Q2 2017	366.67	0.37	0.37	14.77
Q3 2017	366.67	0.83	0.83	15.10
Q4 2017	366.67	1.19	1.19	15.55
Q1 2018	366.67	1.36	1.35	15.97
Q2 2018	366.67	1.77	1.80	16.05
Q3 2018	366.67	1.93	2.00	16.04
Q4 2018	366.67	1.59	1.59	16.14
Q1 2019	641.67	0.85	0.88	15.81
Q2 2019	641.67	0.85	0.86	18.89
Q3 2019	641.67	0.74	0.74	18.44
Q4 2019	641.67	0.47	0.54	18.19
Q1 2020	733.33	0.18	0.48	18.09
Q2 2020	733.33	(0.24)	0.05	17.97
Q3 2020	733.33	(0.38)	(0.09)	17.94
Q4 2020	733.33	0.24	0.40	17.71
Q1 2021	733.33	0.87	0.99	17.77
Q2 2021	733.33	2.14	2.36	18.18
Q3 2021	733.33	3.53	3.75	19.56
Q4 2021	733.33	4.90	5.20	19.89
Q1 2022	733.33	5.81	5.89	21.37
Q2 2022	733.33	6.40	6.39	21.31
Q3 2022	733.33	6.05	6.04	22.36
Q4 2022	733.33	4.90	4.95	21.56
Q1 2023	733.33	4.07	4.12	22.17
Q2 2023	733.33	2.78	2.83	21.39
Q3 2023	733.33	2.04	2.09	21.69

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	366.67	1.69	1.69	15.80
2014	366.67	1.65	1.76	16.28
2015	366.67	0.79	0.79	15.85
2016	366.67	0.12	0.18	14.36
2017	366.67	1.19	1.19	15.55
2018	366.67	1.59	1.59	16.14
2019	641.67	0.47	0.54	18.19
2020	733.33	0.24	0.40	17.71
2021	733.33	4.90	5.20	19.89
2022	733.33	4.90	4.95	21.56

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	38.15	38.15	4.23
Q2 2014	33.35	33.35	4.09
Q3 2014	46.97	46.97	5.40
Q4 2014	32.10	30.23	3.26
Q1 2015	33.93	31.99	3.61
Q2 2015	47.97	44.52	4.06
Q3 2015	35.01	31.97	2.39
Q4 2015	35.64	35.64	1.77
Q1 2016	37.63	34.72	1.84
Q2 2016	60.60	53.35	1.82
Q3 2016	More than 100	More than 100	1.86
Q4 2016	More than 100	More than 100	2.63
Q1 2017	More than 100	More than 100	2.43
Q2 2017	77.10	77.10	1.91
Q3 2017	37.93	37.93	2.09
Q4 2017	29.26	29.26	2.24
Q1 2018	31.26	31.44	2.65
Q2 2018	25.34	24.91	2.79
Q3 2018	23.41	22.60	2.82
Q4 2018	25.11	25.09	2.47
Q1 2019	27.06	26.28	2.55
Q2 2019	28.03	27.69	1.10
Q3 2019	27.73	28.00	0.98
Q4 2019	43.97	38.36	0.99
Q1 2020	68.23	25.61	0.68
Q2 2020	NEG	More than 100	0.80
Q3 2020	NEG	NEG	0.92
Q4 2020	72.22	43.29	0.98
Q1 2021	25.32	22.24	1.24
Q2 2021	14.33	12.99	1.69
Q3 2021	12.41	11.68	2.24
Q4 2021	8.57	8.07	2.11
Q1 2022	9.25	9.11	2.51
Q2 2022	7.77	7.78	2.36
Q3 2022	6.92	6.93	1.87
Q4 2022	6.85	6.78	1.58
Q1 2023	9.29	9.18	1.71
Q2 2023	13.12	12.89	1.72
Q3 2023	18.54	18.10	1.74

Period	P/E	Adjusted P/E	Price/book
2013	37.59	37.59	4.03
2014	32.10	30.23	3.26
2015	35.64	35.64	1.77
2016	More than 100	More than 100	2.63
2017	29.26	29.26	2.24
2018	25.11	25.09	2.47
2019	43.97	38.36	0.99
2020	72.22	43.29	0.98
2021	8.57	8.07	2.11
2022	6.85	6.78	1.58

Business Segments (Million)

Compared With The

Period	Marketing	Intermediate chemicals	Basic chemicals	Polymers	Corporate and others	Petrochemical sector	Eliminations
Q1 2014	225.80	-	-	-	-	701.65	-
Q2 2014	143.30	-	-	-	-	1,034.33	-
Q3 2014	128.72	-	-	-	-	890.61	-
Q4 2014	226.62	-	-	-	-	773.37	-
Q1 2015	59.50	-	-	-	-	742.53	-
Q2 2015	99.40	-	-	-	-	907.55	-
Q3 2015	64.73	-	-	-	-	745.20	-
Q4 2015	279.26	-	-	-	-	592.51	-
Q1 2016	-	565.13	341.67	271.08	51.78	-	(305.68)
Q2 2016	928.40	603.96	337.22	260.71	-	-	(1156.44)
Q3 2016	391.59	385.17	276.06	251.18	-	-	(584.60)
Q4 2016	569.76	416.92	372.05	290.91	1.55	-	(701.59)
Q1 2017	899.09	606.65	508.76	318.09	2.55	-	(1136.12)
Q2 2017	616.75	513.05	359.97	228.20	74.44	-	(874.13)
Q3 2017	599.04	435.32	498.62	285.49	33.22	-	(788.11)
Q4 2017	774.81	747.67	494.99	266.44	14.89	-	(1020.16)
Q1 2018	731.01	565.18	540.95	296.35	41.82	-	(1004.36)
Q2 2018	825.69	693.27	536.49	298.43	40.58	-	(920.00)
Q3 2018	781.59	810.39	384.43	407.53	44.84	-	(1091.03)
Q4 2018	629.36	746.38	320.81	352.07	17.51	-	(1013.48)
Q1 2019	720.42	690.39	414.52	295.77	76.68	-	(1076.18)
Q2 2019	791.99	577.35	392.95	590.67	134.60	-	(1078.15)
Q3 2019	802.75	360.16	590.10	701.89	(86.24)	-	(966.65)
Q4 2019	589.67	697.60	442.78	997.51	19.14	-	(1240.01)
Q1 2020	1,022.46	591.42	465.32	506.80	12.04	-	(1193.95)
Q2 2020	646.72	445.67	370.55	419.67	13.86	-	(946.23)
Q3 2020	867.35	588.25	351.95	652.64	18.36	-	(1116.61)
Q4 2020	1,122.06	606.62	503.76	755.12	10.16	-	(1390.98)
Q1 2021	1,456.57	762.03	648.12	828.79	7.40	-	(1671.93)
Q2 2021	1,730.16	1,133.47	753.07	958.38	3.80	-	(2216.22)
Q3 2021	1,964.72	1,096.97	841.12	810.62	0.08	-	(2207.91)
Q4 2021	2,283.86	1,312.85	903.74	856.89	5.25	-	(2575.13)
Q1 2022	1,935.17	1,181.01	873.20	652.58	3.04	-	(2296.89)
Q2 2022	2,544.64	1,417.72	912.22	1,010.31	9.10	-	(2796.58)
Q3 2022	2,140.18	1,208.16	747.00	1,021.86	10.02	-	(2273.78)
Q4 2022	1,428.30	832.54	651.93	676.06	5.91	-	(1640.05)
Q1 2023	1,476.57	818.13	654.38	746.82	32.19	-	(1640.79)
Q2 2023	1,157.22	727.83	302.88	614.42	21.54	-	(1122.33)
Q3 2023	1,329.18	464.48	484.70	733.30	20.54	-	(1242.83)

Period	Marketing	Intermediate chemicals	Basic chemicals	Polymers	Corporate and others	Petrochemical sector	Eliminations
2013	796.21	-	-	-	-	3,275.40	-
2014	724.45	-	-	-	-	3,399.96	-
2015	502.89	-	-	-	-	3,011.95	-
2016	1,889.74	1,971.19	1,326.99	1,073.88	1.55	-	(2748.31)
2017	2,889.69	2,302.69	1,861.84	1,093.17	125.10	-	(3812.99)
2018	2,967.65	2,814.53	1,788.84	1,354.77	144.75	-	(4034.73)
2019	2,904.83	2,325.51	1,840.36	2,585.85	144.18	-	(4360.99)
2020	3,663.54	2,231.95	1,691.59	2,334.24	49.48	-	(4647.78)
2021	7,435.31	4,305.32	3,146.05	3,454.68	16.53	-	(8671.19)
2022	8,048.28	4,639.42	3,184.34	3,360.81	28.08	-	(9007.31)

Analysts Estimates (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change‬
Average	390.48	233.09	(40.3 %)

Estimates vs Actual (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change
Hermes	259.00	233.09	(10.0) %
Bank of America	340.86	233.09	(31.6) %
U-Capital	344.90	233.09	(32.4) %
SNB Capital	350.00	233.09	(33.4) %
AlJazira Capital	357.90	233.09	(34.9) %
OSOOL AND BAKHEET	383.76	233.09	(39.3) %
Riyad Capital	426.00	233.09	(45.3) %
Al Rajhi Capital	433.00	233.09	(46.2) %
Arqaam Capital	477.00	233.09	(51.1) %
Value Capital	532.35	233.09	(56.2) %

Financial Ratios

	Current
Market Cap (M Riyal)	17,966.59
Enterprise Value (EV) (M)	19,482.51
Shares Outstanding ((M))	733.33
EPS ( Riyal) (TTM)	0.77
Book Value (BV) ( Riyal)	21.28
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	31.81
Price/book	1.15
Return on Average Assets (%) (TTM)	2.5
Return on Average Equity (%) (TTM)	3.6

Sahara International Petrochemical Co. (SIPCHEM)

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Sipchem profit plunges 67% to SAR 1.01 bln in 9M 2023, Q3 drops to SAR 233.1 mln

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Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Sahara International Petrochemical Co. (SIPCHEM)

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Sipchem profit plunges 67% to SAR 1.01 bln in 9M 2023, Q3 drops to SAR 233.1 mln

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2023

Revenue by Business Segment (Latest) 2023 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Sahara International Petrochemical Co. (SIPCHEM)

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Business Segments (Million)