National Gas
| Name | National Gas | |
| Sector | Utilities - Gas | |
| Trading | Tadawul | |
| RIC Code | 2080.SE | |
| Location | SAUDI ARABIA |
Profile and Background
National Gas & Industrialization Company (Gasco) was founded in 1963 to build and operate liquefied petroleum gas (LPG) facilities in the kingdom. In 1975, all LPG retailers were combined into the company which now has paid-in capital of SR 500 million ($133 million) and has the country-wide monopoly over LPG handling.
Government agencies hold 15 per cent of Gasco's equity. The company has invested heavily in facilities across the kingdom, including seven gas filling centers in major cities. Gasco has recently completed a modernization program in these centers.
It operates a fleet of 363 gas carriers and 100 trailers. It also has a total of 64 LPG tanks and other facilities in its gas centers. Plans for the future include expanding the number of LPG tanks in Riyadh, Dammam, Jeddah and Medina.
The company is also considering the possibility of adding an argon gas unit to its plant in Jubail. This will supply heavy industries in the city.Gasco, like the Scecos, benefits from a government guarantee that insures it pays dividends whether it is profitable or not.
The company has been profitable for most of the 1990s. It reported a SR 2.8 million ($750,000) loss in 1993, but the company went back into the black thereafter. In 1996, it reported net profits of SR 63 million ($17 million).
Declining other income hit the bottom line in 1997 and earnings shrank to SR 44 million ($12 million). In 1998, net income rose by 8 per cent to SR 47.2 million ($11 million). Sales rose in the period by 2 per cent to SR 966 million ($25.
8 million).
Government agencies hold 15 per cent of Gasco's equity. The company has invested heavily in facilities across the kingdom, including seven gas filling centers in major cities. Gasco has recently completed a modernization program in these centers.
It operates a fleet of 363 gas carriers and 100 trailers. It also has a total of 64 LPG tanks and other facilities in its gas centers. Plans for the future include expanding the number of LPG tanks in Riyadh, Dammam, Jeddah and Medina.
The company is also considering the possibility of adding an argon gas unit to its plant in Jubail. This will supply heavy industries in the city.Gasco, like the Scecos, benefits from a government guarantee that insures it pays dividends whether it is profitable or not.
The company has been profitable for most of the 1990s. It reported a SR 2.8 million ($750,000) loss in 1993, but the company went back into the black thereafter. In 1996, it reported net profits of SR 63 million ($17 million).
Declining other income hit the bottom line in 1997 and earnings shrank to SR 44 million ($12 million). In 1998, net income rose by 8 per cent to SR 47.2 million ($11 million). Sales rose in the period by 2 per cent to SR 966 million ($25.
8 million).
Shareholding Groups
| Individuals | N/A |
| Institutions | N/A |
| Floating | N/A |
| Government | 15% |
Stock Performance
Market Information
| Stock | Saudi_Arabia Index | |
| Last Closing | SAR 32.25 | 3424.18 |
| YTD % |  6.255% |  0% |
| Weekly % | 7.087% | 5.55% |
| Year High | SAR 43.24 | 9083.39 |
| Year Low | SAR 25 | 3296.01 |
| 52 Week High | SAR 170.96 | 4532.55 |
| 52 Week Low | SAR 30.24 | 2983.01 |
| BETA | 0.4286 | |
| Outstanding Shares | 75,000,000 | |
| Market Cap | SAR 2,418,750,000 | |
| Market Cap in $ | USD $645,000,000 | |
| % of Saudi_Arabia Market | 0.20% | |
| % of Sector | 4.20% | |
| Rank by Cap | 45 |
Key Figures in '000 SAR
| 2004 | 2003 | 2002 | |
| Total Assets | 1,580,135 | 1,425,086 | 1,385,419 |
| Shareholder's Equity | 1,120,332 | 988,241 | 946,334 |
| NIAT | 120,526 | 127,797 | 138,550 |
| Dividends | 90,000 | 90,000 | 75,000 |
Financial Ratios
| 2004 | 2003 | 2002 | |
| Assets Growth | 10.88% | 2.86% | 8.96% |
| Earning Growth | -5.69% | -7.76% | 8.04% |
| ROaA | 8.02% | 9.09% | 10.43% |
| ROaE | 11.43% | 13.21% | 15.14% |
| No. Of Shares | 15,000,000 | 15,000,000 | 15,000,000 |
| EPS | 8.04 | 8.52 | 9.24 |
| EPS Growth | -5.69% | -7.76% | 8.04% |
| Payout Ratio | 74.673 | 70.424 | 54.132 |
Valuation Ratios
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