02/11/2017 Argaam Exclusive
The aggregate net profit of Tadawul-listed petrochemical producers – which reached SAR 8.8 billion for Q3 2017 – topped average analysts’ forecasts of SAR 5.9 billion by 49.7 percent, according to data compiled by Argaam.
Saudi Basic Industries Corporation (SABIC) topped average estimates by 42 percent.
Saudi Kayan Petrochemical Co. saw its net profit beat expectations by 165 percent, while Saudi International Petrochemical Co. (Sipchem) and Sahara Petrochemical Co.’s net earnings exceeded forecasts by 47 percent and 45 percent respectively.
Rabigh Refining and Petrochemical Company (Petro Rabigh) has reported net profit of SAR 706.5 million in Q3 2017, missing analysts’ forecasts of SAR 20 million loss.
The results of Saudi Arabia Fertilizers Co. (SAFCO), the sole company to miss the profit estimates, came in 3.5 percent lower than the street estimates.
| Company | 2017 - Q3 (a) | 2017 - Q3 (e) | Change |
| SABIC | 5,787.55 | 4,084.03 | 41.7 % |
| SABIC AGRI-NUTRIENTS | 188.42 | 195.20 | (3.5 %) |
| YANSAB | 644.59 | 578.59 | 11.4 % |
| SIPCHEM | 121.55 | 82.90 | 46.6 % |
| Petrochem | 196.94 | 172.70 | 14.0 % |
| ADVANCED | 208.41 | 197.02 | 5.8 % |
| TASNEE | 191.55 | 132.60 | 44.5 % |
| Sahara Petrochemical | 165.17 | 114.05 | 44.8 % |
| SAUDI KAYAN | 381.03 | 143.63 | 165.3 % |
| SIIG | 226.47 | 209.67 | 8.0 % |
| ALUJAIN | 36.12 | 33.00 | 9.5 % |
| PETRO RABIGH | 706.47 | (20.00) | 3,632.3 % |
| Total | 8854.27 | 5923.37 | 49.5 % |
Analysts included Al Rajhi Capital, Osool & Bakheet Investment Group and Albilad Capital.
| Company | 2017 - Q3 (a) | 2017 - Q3 (e) | Most Accurate Research Company |
| SABIC | 5,787.55 | 4,557.40 | Value Capital |
| SABIC AGRI-NUTRIENTS | 188.42 | 185.80 | Value Capital |
| YANSAB | 644.59 | 639.00 | SNB Capital |
| SIPCHEM | 121.55 | 96.00 | Sico |
| Petrochem | 196.94 | 189.50 | AlJazira Capital |
| ADVANCED | 208.41 | 213.00 | SNB Capital |
| TASNEE | 191.55 | 139.00 | SNB Capital |
| Sahara Petrochemical | 165.17 | 129.80 | OSOOL AND BAKHEET |
| SAUDI KAYAN | 381.03 | 195.00 | Sico |
| SIIG | 226.47 | 242.00 | Sico |
| ALUJAIN | 36.12 | 36.00 | OSOOL AND BAKHEET |
| PETRO RABIGH | 706.47 | (20.00) | Riyad Capital |
| TASI | 11,907.43 | (131.24) | (1.09 %) |
| ALUJAIN | 40.20 | (0.55) | (1.35%) |
| TASNEE | 10.68 | (0.04) | (0.37%) |
| NAMA CHEMICALS | 26.35 | (0.65) | (2.42%) |
| SABIC | 72.90 | (0.30) | (0.41%) |
| SABIC AGRI-NUTRIENTS | 116.00 | (1.80) | (1.54%) |
| Sahara Petrochemical | 17.46 | 0.20 | 1.16% |
| SIIG | 18.08 | (0.36) | (1.96%) |
| YANSAB | 41.45 | (0.35) | (0.84%) |
| SIPCHEM | 27.60 | (0.05) | (0.18%) |
| SAUDI KAYAN | 8.13 | (0.03) | (0.37%) |
| CHEMANOL | 16.16 | (0.18) | (1.10%) |
| PETRO RABIGH | 8.58 | 0.00 | 0.00% |
| Petrochem | 45.60 | (0.60) | (1.30%) |
| ADVANCED | 36.05 | (0.40) | (1.10%) |
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