Financial Results : Arabian Pipes deepens H1 2022 net loss to SAR 17.5 mln, trims Q2 loss to SAR 4.2 mln

Arabian Pipes deepens H1 2022 net loss to SAR 17.5 mln, trims Q2 loss to SAR 4.2 mln

22/08/2022 Argaam Exclusive

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Arabian Pipes Co. (APC) widened H1 2022 net losses to SAR 17.5 million, from SAR 12 million in the year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 253.42 130.93 (48.3 %)
Gross Income 18.62 (5.36) (128.8 %)
Operating Income (3.25) (25.10) (673.4 %)
Net Income (12.11) (17.47) (44.3 %)
Average Shares 15.00 15.00 -
EPS (Riyals) (0.81) (1.16) (44.3 %)

In Q2 2022, the steel pipe manufacturer trimmed net losses by 67.8% to SAR 4.2 million, from SAR 13.06 million in the corresponding period of 2021.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 124.08 70.04 (43.6 %)
Gross Income 4.91 (6.43) (230.9 %)
Operating Income (8.41) (11.59) (37.8 %)
Net Income (13.06) (4.25) 67.4 %
Average Shares 15.00 15.00 -
EPS (Riyals) (0.87) (0.28) 67.4 %

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