East Pipes earns SAR 296.5M in 9M 2024/25; Q3 at SAR 112.4M

30/01/2025 Argaam Exclusive

East Pipes Integrated Co. posted a net profit rise to SAR 296.5 million for the nine-month period ended Dec. 31, 2024, from SAR 88 million in the prior-year period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 821.42 1,432.48 74.4 %
Gross Income 137.74 355.93 158.4 %
Operating Income 120.72 342.53 183.7 %
Net Income 87.95 296.54 237.2 %
Average Shares 31.50 31.50 -
EPS (Riyals) 2.79 9.41 237.2 %

The profit surge was spurred by an increase in revenue to SAR 1.43 billion for the nine-month period, compared to SAR 821 million a year earlier, primarily due to better sales volumes and scheduled delivery plans.

 

Earnings before interest, taxes, depreciation, and amortization (EBITDA) soared 158% year-on-year (YoY) to SAR 362 million. Meanwhile, average production costs and finance costs (FCs) decreased.

 

The third-quarter net earnings climbed 31% to SAR 112.4 million, from SAR 85.7 million in Q3 2023/24, as average production costs and FCs declined. EBITDA expanded to SAR 135 million in Q3 2024/25, from SAR 112 million in the prior-year period.

 

On the other hand, the third-quarter revenue dropped to SAR 528 million, from SAR 552 million in Q3 2023/24.

 

On a sequential basis, East Pipes net earnings edged down 0.4% from SAR 112.85 million on a decline in revenue from SAR 540 million in the previous quarter due to lower sales volumes.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 552.30 527.90 (4.4 %)
Gross Income 110.95 135.75 22.4 %
Operating Income 104.63 128.64 22.9 %
Net Income 85.72 112.44 31.2 %
Average Shares 31.50 31.50 -
EPS (Riyals) 2.72 3.57 31.2 %

Shareholders’ equity, no minority interest, grew to SAR 1.04 billion as of Dec. 31, 2024, from SAR 672.72 million a year earlier.

 

Attached Documents:

 

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Share Price

East Pipes Integrated Company for Industry
156.20
2.20 1.43 %

East Pipes Integrated Company for Industry (EAST PIPES)

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Financial Ratios
Current
Market Cap (M Riyal) 4,920.30
Enterprise Value (EV) (M) 5,055.70
Shares Outstanding ((M)) 31.50
EPS ( Riyal) (TTM) 15.11
Book Value (BV) ( Riyal) 33.32
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 10.33
P/E (TTM) 10.33
Price/book 4.69
Return on Average Assets (%) (TTM) 28.3
Return on Average Equity (%) (TTM) 34.1
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