Sipchem reports 61% profit plunge to SAR 303M in H1 2024; Q2 at SAR 121.5M

21/07/2024 Argaam Exclusive

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Sahara International Petrochemical Co. (Sipchem) reported a net profit of SAR 303 million for the six months ended on June 30, 2024, a decline of 61% from SAR 783.3 million in the year-earlier period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	3,788.86	3,694.90	(2.5 %)
Gross Income	1,282.53	800.90	(37.6 %)
Operating Income	914.15	484.50	(47.0 %)
Net Income	783.25	303.00	(61.3 %)
Average Shares	733.33	733.33	-
EPS (Riyals)	1.07	0.41	(61.3 %)

This was triggered by lower revenue and decreased selling prices of products. In addition, the increase in feedstock prices of natural gas, ethane, butane, ethylene, and propane contributed to lower operating profit. The company also cited a lower profit share from investments in a joint venture and associates.

Q2 2024 net earnings amounted to SAR 121.5 million, plummeting 61% from SAR 312.9 million in Q2 2023, driven by higher cost of revenue on an increase in feedstock prices of natural gas, ethane, butane, ethylene, and propane, despite increased overall sales volumes.

The company also cited a lower profit share from investment in a joint venture and associates.

Additionally, Sipchem received a final insurance settlement of SAR 53 million for the total damage and losses caused by the fire incident in the company's plant.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	1,701.55	1,770.30	4.0 %
Gross Income	527.62	320.80	(39.2 %)
Operating Income	353.11	190.20	(46.1 %)
Net Income	312.92	121.50	(61.2 %)
Average Shares	733.33	733.33	-
EPS (Riyals)	0.43	0.17	(61.2 %)

Item	Q1 2024	Q2 2024	Change‬
Revenues	1,924.63	1,770.30	(8.0 %)
Gross Income	480.13	320.80	(33.2 %)
Operating Income	294.33	190.20	(35.4 %)
Net Income	181.51	121.50	(33.1 %)
Average Shares	733.33	733.33	-
EPS (Riyals)	0.25	0.17	(33.1 %)

On a sequential basis, net profit declined 33.1% from SAR 181.5 million in Q1 2024.

Total shareholders’ equity, after minority interest, reached SAR 15.50 billion by June 30, 2024, compared to SAR 15.68 billion in a prior-year period.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %)
Q4 2023	1,981.40	1.4 %	455.00	(43.8 %)	227.03	(63.2 %)
2023	7,617.94	(25.7 %)	2,168.47	(55.2 %)	1,418.97	(64.9 %)
Q1 2024	1,924.63	(7.8 %)	480.13	(36.4 %)	294.33	(47.5 %)
Q2 2024	1,770.30	4.0 %	320.80	(39.2 %)	190.20	(46.1 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %)
2023	7,617.94	(25.7 %)	2,168.47	(55.2 %)	1,418.97	(64.9 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
Q4 2023	158.66	(66.9 %)	0.22	147.96	10.70	0.01
2023	1,174.99	(67.3 %)	1.60	147.96	1,027.04	1.40
Q1 2024	181.51	(61.4 %)	0.25	-	181.51	0.25
Q2 2024	121.50	(61.2 %)	0.17	53.00	68.50	0.09

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	606.23	(2.3 %)	1.65	-	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
2023	1,174.99	(67.3 %)	1.60	147.96	1,027.04	1.40

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q4 2023	29.04 %	31.22 %	13.59 %
2023	28.47 %	30.63 %	13.48 %
Q1 2024	25.96 %	28.28 %	9.98 %
Q2 2024	22.96 %	-	6.61 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
2023	28.47 %	30.63 %	13.48 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q4 2023	22.96 %	23.87 %	0.54 %
Q1 2024	24.95 %	26.78 %	9.43 %
Q2 2024	18.12 %	-	3.87 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q4 2023	733.33	1.60	1.40	21.23
Q1 2024	733.33	1.21	1.01	21.49
Q2 2024	733.33	0.95	0.67	21.14

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
2023	733.33	1.60	1.40	21.23

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q4 2023	21.01	24.04	1.60
Q1 2024	25.94	31.14	1.46
Q2 2024	30.58	43.03	1.39

Period	P/E	Adjusted P/E	Price/book
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
2023	21.01	24.04	1.60

Business Segments (Million)

Compared With The

Period	Marketing activities	Intermediate chemicals	Basic chemicals	Polymers	Corporate and others	Petrochemical sector	Eliminations
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)
Q1 2024	1,336.28	637.73	606.29	491.97	66.90	-	(1214.55)

Period	Marketing activities	Intermediate chemicals	Basic chemicals	Polymers	Corporate and others	Petrochemical sector	Eliminations
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)
2023	5,221.86	2,678.35	2,198.03	2,741.59	37.67	-	(5259.57)

Analysts Estimates (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change‬
Average	197.04	121.50	(38.3 %)

Estimates vs Actual (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change
Al Rajhi Capital	171.00	121.50	(28.9) %
U-Capital	177.51	121.50	(31.6) %
Riyad Capital	179.00	121.50	(32.1) %
OSOOL AND BAKHEET	189.41	121.50	(35.9) %
GIB Capital	199.00	121.50	(38.9) %
AlJazira Capital	211.60	121.50	(42.6) %
Value Capital	221.79	121.50	(45.2) %
SNB Capital	227.00	121.50	(46.5) %

Financial Ratios

	Current
Market Cap (M Riyal)	21,339.90
Enterprise Value (EV) (M)	22,835.44
Shares Outstanding ((M))	733.33
EPS ( Riyal) (TTM)	0.95
Book Value (BV) ( Riyal)	21.14
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	43.22
P/E (TTM)	30.72
Price/book	1.38
Return on Average Assets (%) (TTM)	3.1
Return on Average Equity (%) (TTM)	4.5

Sahara International Petrochemical Co. (SIPCHEM)

All
Above Expectations
Below Expectations

Company	Estimated	Actual	Change
NADEC	100.25	111.88	11.6 %
TADAWUL GROUP	153.25	163.83	6.9 %
SIPCHEM	197.04	121.50	(38.3 %)

Company	Estimated	Actual	Change
NADEC	100.25	111.88	11.6 %
TADAWUL GROUP	153.25	163.83	6.9 %

Company	Estimated	Actual	Change
SIPCHEM	197.04	121.50	(38.3 %)

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Sipchem reports 61% profit plunge to SAR 303M in H1 2024; Q2 at SAR 121.5M

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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)

Revenue by Business Segment (Latest) 2024 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Sahara International Petrochemical Co. (SIPCHEM)

Quarterly Actuals vs Estimates 21/07/202421/07/2024

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Sipchem reports 61% profit plunge to SAR 303M in H1 2024; Q2 at SAR 121.5M

View other reports

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) Q1 2024

Revenue by Business Segment (Latest) 2024 Q2

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Sahara International Petrochemical Co. (SIPCHEM)

Quarterly Actuals vs Estimates 21/07/202421/07/2024

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Business Segments (Million)