Arabian Pipes swings to SAR 195 mln loss in 2020

09/06/2021 Argaam Exclusive

Arabian Pipes Co. (APC) swung to a net loss after Zakat and tax of SAR 195 million for 2020, versus a net profit of SAR 30.2 million a year earlier, due to an overall slowdown in economic activities during the year amid the COVID-19 pandemic.

 

The losses came as the APC reported a 50% drop year-on-year (YoY) in sales to SAR 369.2 million.



Financials (M)

Item 2019 2020 Change‬
Revenues 741.09 369.29 (50.2 %)
Gross Income 96.47 (131.30) (236.1 %)
Operating Income 62.66 (174.15) (377.9 %)
Net Income 30.25 (195.34) (745.8 %)
Average Shares 15.00 15.00 -
EPS (Riyals) 2.02 (13.02) (745.8 %)

In addition, the company suspended some production lines, reduced working hours and days and postponed the schedules of delivering pipes to customers, due to the working-hours curfew and delays in customer projects.

 

APC also allocated additional inventory provisions at an estimated value of SAR 59.2 million, after a detailed assessment and a full review of the inventory with the external auditor.



Current Quarter Comparison (M)

Compared With The
Item Q4 2019 Q4 2020 Change‬
Revenues 159.18 95.43 (40.0 %)
Gross Income 20.67 (140.52) (780.0 %)
Operating Income 15.72 (152.17) (1067.9 %)
Net Income 4.88 (156.20) (3301.5 %)
Average Shares 15.00 15.00 -
EPS (Riyals) 0.33 (10.41) (3301.5 %)

In Q4 2020, the company incurred a net loss of SAR 156 million against a net profit of SAR 4.83 million in the prior-year period.

Accumulated losses reached SAR 311 million, or 77.8% of capital by the end of 2020.

View other reports

Share Price

Arabian Pipes Co.
112.20
(2.20) (1.92 %)

Arabian Pipes Co. (APC)

More


Financial Ratios
Current
Market Cap (M Riyal) 1,683.00
Enterprise Value (EV) (M) 2,047.24
Shares Outstanding ((M)) 15.00
EPS ( Riyal) (TTM) 13.09
Book Value (BV) ( Riyal) 25.92
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 8.45
P/E (TTM) 8.57
Price/book 4.33
Return on Average Assets (%) (TTM) 21.8
Return on Average Equity (%) (TTM) 67.3
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request