East Pipes net profit rises to SAR 15.5 mln in H1 2022/23, Q2 at SAR 9.2 mln

East Pipes Integrated Co. reported a net profit after Zakat and tax of SAR 15.5 million in the first half ended Sept. 30, 2022, from SAR 1.3 million in the year-earlier period.

The profit growth was attributed to higher pipe sales volumes and average sales prices, which resulted in a 47% sequential rise in revenues.

The company also cited a decline in expected credit loss allowance, as a result of larger collections for outstanding amounts from customers.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	270.50	509.11	88.2 %
Gross Income	20.41	32.33	58.5 %
Operating Income	14.79	25.21	70.4 %
Net Income	1.27	15.46	1113.3 %
Average Shares	31.50	31.50	-
EPS (Riyals)	0.04	0.49	1113.3 %

The company turned to a profit of SAR 9.2 million in Q2 2022/2023, against a loss of SAR 0.87 million a year earlier, driven by higher realized average sales prices and lower selling and marketing expenses.

Sequentially, profit rose 48% from SAR 6.23 million in Q1 2022/23.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2021	Q2 2022	Change‬
Revenues	121.36	303.08	149.7 %
Gross Income	9.04	13.79	52.5 %
Operating Income	5.53	13.29	140.2 %
Net Income	(0.87)	9.22	1155.5 %
Average Shares	31.50	31.50	-
EPS (Riyals)	(0.03)	0.29	1155.5 %

Item	Q1 2022	Q2 2022	Change‬
Revenues	206.03	303.08	47.1 %
Gross Income	18.54	13.79	(25.6 %)
Operating Income	11.92	13.29	11.5 %
Net Income	6.23	9.22	48.0 %
Average Shares	31.50	31.50	-
EPS (Riyals)	0.20	0.29	48.0 %

Shareholders’ equity, after minority interest, increased to SAR 530.871 million as of Sept. 30, 2022, from SAR 518.973 million a year earlier.

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Share Price

East Pipes Integrated Company for Industry (EAST PIPES)

	Current
Market Cap (M Riyal)	4,416.30
Enterprise Value (EV) (M)	4,349.01
Shares Outstanding ((M))	31.50
EPS ( Riyal) (TTM)	14.27
Book Value (BV) ( Riyal)	31.27
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	9.83
P/E (TTM)	9.83
Price/book	4.48
Return on Average Assets (%) (TTM)	33.4
Return on Average Equity (%) (TTM)	57.2

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2013	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	271.92	-	(42.60)	-	(61.25)	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	707.19	160.1 %	(18.77)	55.9 %	(45.07)	26.4 %
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	1,668.86	136.0 %	336.35	1892.2 %	312.06	792.3 %
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	935.51	(43.9 %)	230.20	(31.6 %)	207.68	(33.4 %)
Q1 2021	149.14	-	11.36	-	9.26	-
Q2 2021	121.36	-	9.04	-	5.53	-
Q3 2021	133.25	-	(7.53)	-	(14.50)	-
Q4 2021	193.72	-	14.87	-	14.70	-
2021	597.47	(36.1 %)	27.75	(87.9 %)	15.00	(92.8 %)
Q1 2022	206.03	38.1 %	18.54	63.2 %	11.92	28.7 %
Q2 2022	303.08	149.7 %	13.79	52.5 %	13.29	140.2 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	271.92	-	(42.60)	-	(61.25)	-
2018	707.19	160.1 %	(18.77)	55.9 %	(45.07)	26.4 %
2019	1,668.86	136.0 %	336.35	1892.2 %	312.06	792.3 %
2020	935.51	(43.9 %)	230.20	(31.6 %)	207.68	(33.4 %)
2021	597.47	(36.1 %)	27.75	(87.9 %)	15.00	(92.8 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2013	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	(75.79)	-	(2.41)	-	(75.79)	(2.41)
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	(69.30)	8.6 %	(2.20)	-	(69.30)	(2.20)
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	236.93	441.9 %	7.52	-	236.93	7.52
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	148.27	(37.4 %)	4.71	-	148.27	4.71
Q1 2021	2.15	-	0.07	-	2.15	0.07
Q2 2021	(0.87)	-	(0.03)	-	(0.87)	(0.03)
Q3 2021	(18.84)	-	(0.60)	-	(18.84)	(0.60)
Q4 2021	14.32	-	0.45	-	14.32	0.45
2021	(3.25)	(102.2 %)	(0.10)	-	(3.25)	(0.10)
Q1 2022	6.23	190.2 %	0.20	-	6.23	0.20
Q2 2022	9.22	1155.5 %	0.29	-	9.22	0.29

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	(75.79)	-	(2.41)	-	(75.79)	(2.41)
2018	(69.30)	8.6 %	(2.20)	-	(69.30)	(2.20)
2019	236.93	441.9 %	7.52	-	236.93	7.52
2020	148.27	(37.4 %)	4.71	-	148.27	4.71
2021	(3.25)	(102.2 %)	(0.10)	-	(3.25)	(0.10)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	(15.66 %)	(12.93 %)	(27.87 %)
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	(2.65 %)	(2.67 %)	(9.80 %)
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	20.15 %	20.72 %	14.20 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	24.61 %	26.33 %	15.85 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	4.64 %	6.55 %	(0.54 %)
2021	4.64 %	6.55 %	(0.54 %)
Q1 2022	5.34 %	5.83 %	0.13 %
Q2 2022	4.75 %	5.86 %	1.31 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	(15.66 %)	(12.93 %)	(27.87 %)
2018	(2.65 %)	(2.67 %)	(9.80 %)
2019	20.15 %	20.72 %	14.20 %
2020	24.61 %	26.33 %	15.85 %
2021	4.64 %	6.55 %	(0.54 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	7.62 %	13.05 %	1.44 %
Q2 2021	7.45 %	6.57 %	(0.72 %)
Q3 2021	(5.65 %)	(6.08 %)	(14.14 %)
Q4 2021	7.68 %	10.23 %	7.39 %
Q1 2022	9.00 %	8.96 %	3.03 %
Q2 2022	4.55 %	6.20 %	3.04 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	-	-	-	-
Q2 2013	-	-	-	-
Q3 2013	-	-	-	-
Q4 2013	-	-	-	-
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	-	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	31.50	-	-	16.50
Q2 2021	31.50	-	-	16.48
Q3 2021	31.50	-	-	15.88
Q4 2021	31.50	(0.10)	(0.10)	16.35
Q1 2022	31.50	0.03	0.03	16.55
Q2 2022	31.50	0.35	0.35	16.85

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	31.50	(2.41)	(2.41)	3.54
2018	31.50	(2.20)	(2.20)	1.30
2019	31.50	7.52	7.52	8.78
2020	31.50	4.71	4.71	16.43
2021	31.50	(0.10)	(0.10)	16.35

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	More than 100	More than 100	3.14
Q2 2022	More than 100	More than 100	2.52

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-

Business Segments (Million)

Compared With The

Period	Sale of goods	Rendering of services
Q1 2021	130.98	18.16
Q2 2021	113.66	7.70
Q3 2021	123.83	9.42
Q4 2021	176.81	16.90
Q1 2022	181.79	24.23
Q2 2022	298.44	4.64

Period	Sale of goods	Rendering of services
2019	1,668.84	-
2020	888.59	46.92
2021	545.28	52.18

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East Pipes net profit rises to SAR 15.5 mln in H1 2022/23, Q2 at SAR 9.2 mln

Financials (M)

Current Quarter Comparison (M)

View other reports

Share Price

East Pipes Integrated Company for Industry (EAST PIPES)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2022 Q2

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East Pipes net profit rises to SAR 15.5 mln in H1 2022/23, Q2 at SAR 9.2 mln

Financials (M)

Current Quarter Comparison (M)

View other reports

Share Price

East Pipes Integrated Company for Industry (EAST PIPES)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2022

Revenue by Business Segment (Latest) 2022 Q2

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Business Segments (Million)