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Petrochemical Sector
Expected Sales Revenue (US$ mn) Growth
Expected Profitability (US$ mn) Growth
60,000.0
50,000.0
40,000.0
30,000.0
20,000.0
10,000.0
-
45.7%
Decline in prices
32.4%
-1.0% 6.5% 4.5%
2007 2008E 2009E 2010E 2011E
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
-10.0%
12,000.0
10,000.0
8,000.0
6,000.0
4,000.0
2,000.0
-
35.6% Higher Financial & Depreciation Charges
13.6%
8.2%
9.3%
-5.8%
2007 2008E 2009E 2010E 2011E
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
-5.0%
-10.0%
Sales Revnue
Growth
Profitability
Growth
Source: Companies’ Annual Accounts & Global Research
Saudi Petrochemical Outlook
» Based on our coverage, sales revenues and
profitability of the sector will increase at a CAGR
of 9.6% and 6.1% during 2007-11 respectively
» Leading players to acquire & establish
manufacturing & marketing units in European
& American region and utilizing the platform of
SINOPEC is under-negotiation
Source: Companies’ Annual Accounts & Global Research
Expected Net Profit Margins
24.0%
23.0%
23.0%
Dilution in Depreciation Impact
22.0%
21.0%
20.4%
20.0%
19.3%
19.0%
19.0%
20.2%
18.0%
17.0%
16.0%
15.0%
2007 2008E 2009E 2010E 2011E
Source: Companies’ Annual Accounts & Global Research
Global Investment House 34 Saudi Arabia Economic Overview - January 2009