Group Five earns SAR 9.4M in 2023

20/03/2024 Argaam Exclusive

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Group Five Pipe Saudi Co. swung to a net profit of SAR 9.4 million in 2023 against a net loss of SAR 24.2 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	230.54	455.31	97.5 %
Gross Income	2.17	57.41	2549.1 %
Operating Income	(9.85)	40.40	509.9 %
Net Income	(24.38)	9.37	138.5 %
Average Shares	28.00	28.00	-
EPS (Riyals)	(0.87)	0.33	138.5 %

The positive results were buoyed by higher revenues, thanks to an increase in the company’s sales volume and average selling prices per ton.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	172.14	143.82	(16.5 %)
Gross Income	9.27	26.99	191.0 %
Operating Income	3.28	18.03	449.9 %
Net Income	(5.65)	(0.31)	94.6 %
Average Shares	28.00	28.00	-
EPS (Riyals)	(0.20)	(0.01)	94.6 %

Item	H1 2023	H2 2023	Change‬
Revenues	311.48	143.82	(53.8 %)
Gross Income	30.42	26.99	(11.3 %)
Operating Income	22.37	18.03	(19.4 %)
Net Income	9.68	(0.31)	(103.2 %)
Average Shares	28.00	28.00	-
EPS (Riyals)	0.35	(0.01)	(103.2 %)

Total shareholders’ equity, no minority interest, stood at SAR 324.07 million as of Dec. 31, 2023, up from SAR 313.27 million in the prior-year period.

Group Five Interim Financials
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	352.84	30.07	1.07
H2 2020	563.32	53.54	1.91
H1 2021	477.82	28.83	1.03
H2 2021	163.28	6.29	0.22
H1 2022	58.40	(18.73)	(0.67)
H2 2022	172.14	(5.65)	(0.20)
H1 2023	311.484	9.68	0.35
H2 2023	143.824	(0.31)	(0.01)

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