Group Five 2021 net profit dips 58% to SAR 35.1 mln

31/03/2022 Argaam Exclusive

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Group Five Pipe Saudi Co.’s 2021 net profit after Zakat and tax more than halved to SAR 35.1 million, compared to SAR 83.6 million a year earlier, hit by lower sales.

Financials (M)

Item	2020	2021	Change‬
Revenues	916.16	641.10	(30.0 %)
Gross Income	129.76	61.31	(52.8 %)
Operating Income	120.03	54.13	(54.9 %)
Net Income	83.61	35.12	(58.0 %)
Average Shares	28.00	28.00	-
EPS (Riyals)	2.99	1.25	(58.0 %)

Current Half Annual Comparison (M)

Compared With The

Item	H2 2020	H2 2021	Change‬
Revenues	563.33	163.28	(71.0 %)
Gross Income	85.51	20.93	(75.5 %)
Operating Income	79.52	11.86	(85.1 %)
Net Income	53.54	6.29	(88.3 %)
Average Shares	28.00	28.00	-
EPS (Riyals)	1.91	0.22	(88.3 %)

Item	H1 2021	H2 2021	Change‬
Revenues	477.82	163.28	(65.8 %)
Gross Income	40.38	20.93	(48.2 %)
Operating Income	42.27	11.86	(71.9 %)
Net Income	28.83	6.29	(78.2 %)
Average Shares	28.00	28.00	-
EPS (Riyals)	1.03	0.22	(78.2 %)

Shareholders’ equity, excluding minority interest, reached SAR 334.473 million as of Dec. 31, 2021, up from SAR 299.057 million in 2020.

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