Financial Results : Group Five 2021 net profit dips 58% to SAR 35.1 mln

Group Five 2021 net profit dips 58% to SAR 35.1 mln

31/03/2022 Argaam Exclusive

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Group Five Pipe Saudi Co.’s 2021 net profit after Zakat and tax more than halved to SAR 35.1 million, compared to SAR 83.6 million a year earlier, hit by lower sales.



Financials (M)

Item 2020 2021 Change‬
Revenues 916.16 641.10 (30.0 %)
Gross Income 129.76 61.31 (52.8 %)
Operating Income 120.03 54.13 (54.9 %)
Net Income 83.61 35.12 (58.0 %)
Average Shares 28.00 28.00 -
EPS (Riyals) 2.99 1.25 (58.0 %)


Current Half Annual Comparison (M)

Compared With The
Item H2 2020 H2 2021 Change‬
Revenues 563.33 163.28 (71.0 %)
Gross Income 85.51 20.93 (75.5 %)
Operating Income 79.52 11.86 (85.1 %)
Net Income 53.54 6.29 (88.3 %)
Average Shares 28.00 28.00 -
EPS (Riyals) 1.91 0.22 (88.3 %)

Shareholders’ equity, excluding minority interest, reached SAR 334.473 million as of Dec. 31, 2021, up from SAR 299.057 million in 2020.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 352.84 - 44.25 - 40.50 -
H2 2020 563.33 - 85.51 - 79.52 -
H1 2021 477.82 35.4 % 40.38 (8.7 %) 42.27 4.4 %
H2 2021 163.28 (71.0 %) 20.93 (75.5 %) 11.86 (85.1 %)
2021 641.10 (30.0 %) 61.31 (52.8 %) 54.13 (54.9 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 30.07 - 1.07 - 30.07 1.07
H2 2020 53.54 - 1.91 - 53.54 1.91
H1 2021 28.83 (4.1 %) 1.03 - 28.83 1.03
H2 2021 6.29 (88.3 %) 0.22 - 6.29 0.22
2021 35.12 (58.0 %) 1.25 - 35.12 1.25

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 14.16 % 14.68 % 9.13 %
H1 2021 12.09 % 13.56 % 7.91 %
H2 2021 9.56 % 11.79 % 5.48 %
2021 9.56 % 11.79 % 5.48 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2012 - - - -
H2 2012 - - - -
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 28.00 - - 8.81
H2 2020 28.00 2.99 2.99 10.68
H1 2021 28.00 2.94 2.94 11.71
H2 2021 28.00 1.25 1.25 11.95

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 30.50 30.50 3.20

Business Segments (Million)

Compared With The
Period Pipe sales Scrap sales and others
Q2 2020 327.47 25.37
Q4 2020 536.63 26.70
Q2 2021 453.36 24.46
Q4 2021 156.88 6.40


Financial Ratios
Current
Market Cap (M Riyal) 1,075.20
Enterprise Value (EV) (M) 1,833.25
Shares Outstanding ((M)) 28.00
Book Value (BV) ( Riyal) 11.57
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
Price/book 3.32
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Share Price

Group Five Pipe Saudi Co.
38.40
(0.60) (1.54 %)

Group Five Pipe Saudi Co. (GROUP FIVE)

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