Boubyan Petrochemical K S C P : Results of Analyst Conference dated 28.11.2022

Boubyan Petrochemical Company

Investor Update - October 31st, 2022 results

Boubyan Petrochemical Company - 2Q22/23 results

Business Highlights

Financial

Highlights

• The distribution of an interim dividend by the Equate Group during the quarter, along with a healthy growth in core investment income, led to a strong YoY growth in the bottom line of 132% in 2Q22/23
• Boubyan reported net income of KWD6.55mn in 2Q22/23 compared to KWD2.82mn in 2Q21/22 (EPS of 12.56 fils in 2Q22/23 vs 5.42 fils in 2Q21/22)
• The investment portfolio value reached KWD417.8mn as of 2Q22/23 where the core investments (excluding Equate) accounted for 19.8% of the portfolio

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Core Investments Updates

• In 4Q20/21, EDU reported a net income of KWD1.20mn, compared to KWD0.82mn during the same period last year.
• The improvement in net income during the quarter was a result of an increase in tuition fees as well as increase in the Company's share of associates.
• EYAS reported a net loss of KWD361K in 4Q21/22 compared to a loss of KWD217K in 4Q20/21.
• The increase in net loss was due to a slight decline of summer course enrollments as well as non-recurring expenses.
• Nafais continued its strong performance during 2Q22, as it posted a net income of KWD2.6mn compared to KWD2.0mn during the same period last year.
• The growth in its bottom line was a result of an increase in revenues from tuition fees during the quarter.

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