Arabian Pipes narrows losses to SAR 7.5 mln in 9M 2022; Q3 profit at SAR 9.9 mln

06/11/2022 Argaam Exclusive

Arabian Pipes Co. (APC) narrowed net loss after Zakat and tax to SAR 7.5 million in the first nine months of 2022, from SAR 28.9 million in the prior-year period. 



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 346.03 305.76 (11.6 %)
Gross Income 17.45 19.75 13.2 %
Operating Income (13.76) (10.99) 20.2 %
Net Income (28.94) (7.52) 74.0 %
Average Shares 15.00 15.00 -
EPS (Riyals) (1.93) (0.50) 74.0 %

The company said the decline in losses came on lower cost of sales margin and selling and distribution expenses.

 

APC reported a net profit after Zakat and tax of SAR 9.9 million in Q3 2022, against a net loss of SAR 16.8 million in the same quarter last year. 



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 92.61 175.42 89.4 %
Gross Income (1.16) 25.79 2315.5 %
Operating Income (10.51) 18.26 273.7 %
Net Income (16.83) 9.94 159.1 %
Average Shares 15.00 15.00 -
EPS (Riyals) (1.12) 0.66 159.1 %

On a sequential basis, the company turned to profit from a loss of SAR 4.25 million in Q2 2022.

 

Shareholders’ equity, no minority interest, stood at SAR 98.2 million as of Sept. 30, 2022, compared to SAR 177.4 million a year earlier.

 

Meanwhile, accumulated losses reached SAR 0.98 million at the end of the nine-month period, representing 0.98% of capital.

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Share Price

Arabian Pipes Co.
123.80
(5.20) (4.03 %)

Arabian Pipes Co. (APC)

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Financial Ratios
Current
Market Cap (M Riyal) 1,857.00
Enterprise Value (EV) (M) 2,251.92
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) 9.32
P/E (TTM) 9.45
Price/book 4.78
Return on Average Assets (%) (TTM) 21.7
Return on Average Equity (%) (TTM) 66.0
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