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

30/01/2025 Argaam Exclusive

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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 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	540.15	527.90	(2.3 %)
Gross Income	133.76	135.75	1.5 %
Operating Income	127.10	128.64	1.2 %
Net Income	112.85	112.44	(0.4 %)
Average Shares	31.50	31.50	-
EPS (Riyals)	3.58	3.57	(0.4 %)

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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