Financial Results : Group Five earnings jump to SAR 38.5M in 2024; H2 at SAR 29.3M

Group Five earnings jump to SAR 38.5M in 2024; H2 at SAR 29.3M

12/03/2025 Argaam Exclusive

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Group Five Pipe Saudi Co.’s net profit skyrocketed to SAR 38.5 million in 2024 from SAR 9.4 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 455.31 976.56 114.5 %
Gross Income 57.41 107.20 86.7 %
Operating Income 40.93 87.37 113.5 %
Net Income 9.37 38.52 310.9 %
Average Shares 28.00 28.00 -
Earnings Per Share before unusual items (Riyals) 0.33 1.38 310.9 %
EPS (Riyals) 0.33 1.38 310.9 %

Revenue nearly doubled to SAR 976 million in 2024 from SAR 455 million in 2023, higher sales volume and average selling prices per ton.

 

In H2 2024, the company turned a profit of SAR 29.3 million versus a loss of SAR 0.31 million a year earlier.

 

Sequentially, H2 2024 profit grew 218.4% from SAR 9.2 million in H1 2024.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 143.82 600.64 317.6 %
Gross Income 26.99 67.31 149.4 %
Operating Income 18.29 58.78 221.3 %
Net Income (0.31) 29.31 9679.7 %
Average Shares 28.00 28.00 -
Earnings Per Share before unusual items (Riyals) (0.01) 1.05 9679.7 %
EPS (Riyals) (0.01) 1.05 9679.7 %

Total shareholders’ equity, no minority interest, stood at SAR 361.66 million as of Dec. 31, 2024, up from SAR 324.07 million in the prior-year period.

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