Arabian Pipes’ 9M net profit rises to SAR 155.7M; Q3 at SAR 44 M

31/10/2024 Argaam Exclusive

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Arabian Pipes Co. (APC) reported a net profit of SAR 155.7 million for the first nine months of 2024, an increase of 66.2% from SAR 93.7 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	767.08	970.28	26.5 %
Gross Income	159.19	244.25	53.4 %
Operating Income	118.48	194.16	63.9 %
Net Income	93.69	155.72	66.2 %
Average Shares	15.00	15.00	-
EPS (Riyals)	6.25	10.38	66.2 %

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	234.12	318.47	36.0 %
Gross Income	59.75	63.73	6.7 %
Operating Income	39.36	55.69	41.5 %
Net Income	36.74	43.89	19.5 %
Average Shares	15.00	15.00	-
EPS (Riyals)	2.45	2.93	19.5 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	343.07	318.47	(7.2 %)
Gross Income	85.25	63.73	(25.2 %)
Operating Income	66.13	55.69	(15.8 %)
Net Income	57.05	43.89	(23.1 %)
Average Shares	15.00	15.00	-
EPS (Riyals)	3.80	2.93	(23.1 %)

Q3 2024 net profit stood at SAR 44 million, an increase of 19.4% year-on-year (YoY), from SAR 36.7 million a year earlier.

On a sequential basis, net earnings decreased by 23.06%, from SAR 57.05 million.

Total shareholders’ equity (no minority equity) stood at SAR 388.8 million by Sept. 30, 2024, compared to SAR 206.4 million a year earlier.

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