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 %

Item	Q1 2022	Q2 2022	Change‬
Revenues	61.72	70.04	13.5 %
Gross Income	1.43	(6.43)	(548.0 %)
Operating Income	(12.69)	(11.59)	8.6 %
Net Income	(13.21)	(4.25)	67.8 %
Average Shares	15.00	15.00	-
EPS (Riyals)	(0.88)	(0.28)	67.8 %

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