Pipes posts net loss at SAR 23.3m in I2 of 2013

30/06/2013 Argaam Exclusive
0

Arabian Pipes Co., specialized in the production and selling of steel pipes, reported SAR 23.3m net loss at the end of the first half of 2013, compared to SAR 5.6m net profit in the same period last year, as shown in the following table:



Financials (M)

Item 6m 2012 6m 2013 Change‬
Revenues 328.32 209.88 (36.1 %)
Gross Income 31.40 20.44 (34.9 %)
Operating Income 12.50 (14.38) (215.0 %)
Net Income 5.64 (23.26) (512.2 %)
Average Shares 150.00 150.00 -
Earnings Per Share before unusual items 0.04 (0.16) (512.2 %)
EPS (Riyals) 0.04 (0.16) (512.2 %)


Current Quarter Comparison (M)

Compared With The
Item Q2 2012 Q2 2013 Change‬
Revenues 161.94 110.16 (32.0 %)
Gross Income 14.96 11.85 (20.8 %)
Operating Income 5.31 (4.82) (190.8 %)
Net Income 3.25 (5.33) (263.9 %)
Average Shares 150.00 150.00 -
Earnings Per Share before unusual items 0.02 (0.04) (263.9 %)
EPS (Riyals) 0.02 (0.04) (263.9 %)

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Share Price

9.22
0.34 3.83 %

Arabian Pipes Co. (APC)

Created with Highstock 6.0.710:1510:3010:4511:0011:1511:3011:4512:0012:1512:3012:4513:0013:1513:3013:4514:0014:1514:3014:4515:153.503.533.553.583.603.633.653.683.703.73
Close : 3.50 | Apr 8, 15:20

Current
Market Cap (M Riyal) 1,383.00
Enterprise Value (EV) (M) 1,678.26
Shares Outstanding ((M)) 150.00
EPS ( Riyal) (TTM) 1.12
Book Value (BV) ( Riyal) 2.68
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 8.09
P/E (TTM) 8.22
Price/book 3.45
Return on Average Assets (%) (TTM) 18.3
Return on Average Equity (%) (TTM) 25.7


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2004 26.35 (17.1 %) 3.46 (25.1 %) 1.40 44.4 %
Q2 2004 35.45 0.8 % 8.61 50.5 % 4.28 80.9 %
Q3 2004 54.63 77.3 % 14.68 294.0 % 11.90 2685.3 %
Q4 2004 91.41 42.2 % 22.34 266.4 % 16.67 478.2 %
Q1 2005 85.51 224.5 % 21.94 534.6 % 14.09 905.0 %
Q2 2005 83.99 136.9 % 19.30 124.2 % 13.45 214.1 %
Q3 2005 104.96 92.1 % 28.24 92.4 % 23.92 101.1 %
Q4 2005 201.79 120.8 % 34.32 53.6 % 26.07 56.4 %
Q1 2006 186.45 118.0 % 41.82 90.6 % 32.58 131.2 %
Q2 2006 150.39 79.1 % 19.20 (0.5 %) 10.29 (23.5 %)
Q3 2006 82.67 (21.2 %) 17.22 (39.0 %) 10.16 (57.5 %)
Q4 2006 174.30 (13.6 %) 32.79 (4.4 %) 24.91 (4.4 %)
Q1 2007 122.02 (34.6 %) 31.37 (25.0 %) 23.99 (26.4 %)
Q2 2007 190.21 26.5 % 57.98 202.0 % 50.69 392.4 %
Q3 2007 156.09 88.8 % 42.11 144.5 % 35.47 249.1 %
Q4 2007 175.25 0.5 % 51.37 56.7 % 36.49 46.5 %
Q1 2008 179.59 47.2 % 54.88 75.0 % 42.75 78.2 %
Q2 2008 227.78 19.8 % 51.24 (11.6 %) 39.76 (21.6 %)
Q3 2008 184.37 18.1 % 51.90 23.3 % 33.27 (6.2 %)
Q4 2008 225.10 28.4 % 63.01 22.7 % 32.51 (10.9 %)
Q1 2009 131.90 (26.6 %) 31.25 (43.1 %) 15.51 (63.7 %)
Q2 2009 87.56 (61.6 %) 22.13 (56.8 %) 10.79 (72.9 %)
Q3 2009 102.93 (44.2 %) 32.37 (37.6 %) 19.73 (40.7 %)
Q4 2009 121.71 (45.9 %) 31.10 (50.6 %) 5.38 (83.4 %)
Q1 2010 56.18 (57.4 %) 12.72 (59.3 %) 1.48 (90.5 %)
Q2 2010 95.56 9.1 % 10.23 (53.8 %) 6.05 (43.9 %)
Q3 2010 53.58 (47.9 %) 2.62 (91.9 %) (1.63) (108.3 %)
Q4 2010 50.46 (58.5 %) 3.66 (88.2 %) (8.16) (251.5 %)
Q1 2011 59.28 5.5 % 3.00 (76.4 %) (1.42) (196.2 %)
Q2 2011 49.01 (48.7 %) 6.17 (39.7 %) 0.95 (84.3 %)
Q3 2011 87.11 62.6 % 16.42 527.2 % 10.32 732.8 %
Q4 2011 79.28 57.1 % 8.42 129.8 % 2.23 127.3 %
Q1 2012 166.39 180.7 % 16.44 448.9 % 7.20 606.3 %
Q2 2012 161.94 230.4 % 14.96 142.6 % 5.31 460.2 %
Q3 2012 172.68 98.2 % 14.13 (13.9 %) 1.31 (87.3 %)
Q4 2012 178.91 125.7 % 4.05 (51.9 %) (11.94) (635.2 %)
2012 679.91 147.5 % 49.58 45.9 % 1.87 (84.5 %)
Q1 2013 99.72 (40.1 %) 8.59 (47.8 %) (9.57) (232.9 %)
Q2 2013 110.16 (32.0 %) 11.85 (20.8 %) (4.82) (190.8 %)



Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2004 0.99 1399.0 % 0.01 - 0.99 0.01
Q2 2004 3.43 102.1 % 0.03 - 3.43 0.03
Q3 2004 12.81 2667.4 % 0.09 - 12.81 0.09
Q4 2004 17.30 599.9 % 0.12 - 17.30 0.12
Q1 2005 15.12 1421.5 % 0.10 - 15.12 0.10
Q2 2005 15.91 364.0 % 0.11 - 15.91 0.11
Q3 2005 21.80 70.2 % 0.15 - 21.80 0.15
Q4 2005 24.93 44.1 % 0.17 - 24.93 0.17
Q1 2006 28.99 91.7 % 0.19 - 28.99 0.19
Q2 2006 15.06 (5.4 %) 0.10 - 15.06 0.10
Q3 2006 6.89 (68.4 %) 0.05 - 6.89 0.05
Q4 2006 24.45 (1.9 %) 0.16 - 24.45 0.16
Q1 2007 23.70 (18.2 %) 0.16 - 23.70 0.16
Q2 2007 41.44 175.2 % 0.28 - 41.44 0.28
Q3 2007 26.74 288.3 % 0.18 - 26.74 0.18
Q4 2007 33.70 37.8 % 0.22 - 33.70 0.22
Q1 2008 37.93 60.0 % 0.25 - 37.93 0.25
Q2 2008 42.14 1.7 % 0.28 - 42.14 0.28
Q3 2008 27.35 2.3 % 0.18 - 27.35 0.18
Q4 2008 9.85 (70.8 %) 0.07 (13.44) 23.29 0.16
Q1 2009 5.62 (85.2 %) 0.04 - 5.62 0.04
Q2 2009 10.63 (74.8 %) 0.07 - 10.63 0.07
Q3 2009 8.19 (70.1 %) 0.05 - 8.19 0.05
Q4 2009 0.62 (93.7 %) 0.00 - 0.62 0.00
Q1 2010 1.16 (79.4 %) 0.01 - 1.16 0.01
Q2 2010 8.32 (21.7 %) 0.06 - 8.32 0.06
Q3 2010 (4.77) (158.2 %) (0.03) - (4.77) (0.03)
Q4 2010 (8.22) (1418.4 %) (0.05) - (8.22) (0.05)
Q1 2011 (0.96) (182.7 %) (0.01) - (0.96) (0.01)
Q2 2011 1.32 (84.2 %) 0.01 - 1.32 0.01
Q3 2011 0.61 112.9 % 0.00 - 0.61 0.00
Q4 2011 (7.67) 6.7 % (0.05) - (7.67) (0.05)
Q1 2012 2.39 349.9 % 0.02 - 2.39 0.02
Q2 2012 3.25 147.1 % 0.02 - 3.25 0.02
Q3 2012 (7.01) (1241.0 %) (0.05) - (7.01) (0.05)
Q4 2012 (24.01) (213.2 %) (0.16) - (24.01) (0.16)
2012 (25.37) (279.0 %) (0.17) - (25.37) (0.17)
Q1 2013 (17.93) (849.0 %) (0.12) - (17.93) (0.12)
Q2 2013 (5.33) (263.9 %) (0.04) - (5.33) (0.04)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2004 12.13 % 12.35 % 2.98 %
Q2 2004 13.95 % 13.49 % 4.08 %
Q3 2004 18.18 % 18.00 % 10.91 %
Q4 2004 23.62 % 22.19 % 16.62 %
Q1 2005 25.31 % 21.98 % 18.23 %
Q2 2005 24.80 % 21.50 % 19.38 %
Q3 2005 25.10 % 21.82 % 19.17 %
Q4 2005 21.80 % 18.75 % 16.33 %
Q1 2006 21.43 % 18.69 % 15.88 %
Q2 2006 19.20 % 16.27 % 14.10 %
Q3 2006 18.12 % 14.64 % 12.21 %
Q4 2006 18.70 % 15.11 % 12.70 %
Q1 2007 19.00 % 15.30 % 13.24 %
Q2 2007 24.49 % 21.31 % 16.95 %
Q3 2007 25.56 % 22.81 % 18.10 %
Q4 2007 28.41 % 24.59 % 19.51 %
Q1 2008 29.43 % 25.25 % 19.94 %
Q2 2008 27.02 % 22.48 % 19.02 %
Q3 2008 27.30 % 21.35 % 18.40 %
Q4 2008 27.06 % 19.55 % 16.00 %
Q1 2009 25.67 % 17.92 % 12.79 %
Q2 2009 26.76 % 18.19 % 10.63 %
Q3 2009 27.17 % 19.44 % 8.72 %
Q4 2009 26.31 % 19.10 % 5.64 %
Q1 2010 26.69 % 19.22 % 5.59 %
Q2 2010 22.96 % 17.56 % 4.86 %
Q3 2010 17.33 % 14.80 % 1.63 %
Q4 2010 11.43 % 14.47 % (1.37 %)
Q1 2011 7.54 % 13.92 % (2.17 %)
Q2 2011 7.27 % 15.48 % (5.95 %)
Q3 2011 11.89 % 17.51 % (2.95 %)
Q4 2011 12.38 % 19.32 % (2.44 %)
Q1 2012 12.43 % 16.12 % (0.88 %)
Q2 2012 11.37 % 13.27 % (0.28 %)
Q3 2012 9.30 % 9.73 % (1.56 %)
Q4 2012 7.29 % 6.21 % (3.73 %)
Q1 2013 6.80 % 4.15 % (7.45 %)
Q2 2013 6.88 % 2.70 % (9.67 %)



Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2004 136.52 0.03 0.03 1.64
Q2 2004 136.52 0.05 0.05 1.67
Q3 2004 136.52 0.14 0.14 1.76
Q4 2004 150.00 0.23 0.23 2.42
Q1 2005 150.00 0.32 0.32 2.52
Q2 2005 150.00 0.41 0.41 2.63
Q3 2005 150.00 0.47 0.47 2.77
Q4 2005 150.00 0.52 0.52 2.94
Q1 2006 150.00 0.61 0.61 3.13
Q2 2006 150.00 0.61 0.61 3.23
Q3 2006 150.00 0.51 0.51 3.28
Q4 2006 150.00 0.50 0.50 3.44
Q1 2007 150.00 0.47 0.47 3.60
Q2 2007 150.00 0.64 0.64 3.88
Q3 2007 150.00 0.78 0.78 4.05
Q4 2007 150.00 0.84 0.84 4.28
Q1 2008 150.00 0.93 0.93 4.53
Q2 2008 150.00 0.94 0.94 4.50
Q3 2008 150.00 0.94 0.94 4.68
Q4 2008 150.00 0.78 0.87 4.75
Q1 2009 150.00 0.57 0.66 4.78
Q2 2009 150.00 0.36 0.45 4.85
Q3 2009 150.00 0.23 0.32 4.91
Q4 2009 150.00 0.17 0.17 4.91
Q1 2010 150.00 0.14 0.14 4.92
Q2 2010 150.00 0.12 0.12 4.98
Q3 2010 150.00 0.04 0.04 4.94
Q4 2010 150.00 (0.02) (0.02) 4.89
Q1 2011 150.00 (0.04) (0.04) 4.88
Q2 2011 150.00 (0.08) (0.08) 4.89
Q3 2011 150.00 (0.05) (0.05) 4.90
Q4 2011 150.00 (0.04) (0.04) 4.84
Q1 2012 150.00 (0.02) (0.02) 4.86
Q2 2012 150.00 (0.01) (0.01) 4.88
Q3 2012 150.00 (0.06) (0.06) 4.84
Q4 2012 150.00 (0.17) (0.17) 4.67
Q1 2013 150.00 (0.30) (0.30) 4.56
Q2 2013 150.00 (0.36) (0.36) 4.52

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2004 More than 100 More than 100 2.64
Q2 2004 89.31 89.31 2.51
Q3 2004 54.83 54.83 4.49
Q4 2004 28.37 28.37 2.70
Q1 2005 23.17 23.17 2.98
Q2 2005 49.97 49.97 7.75
Q3 2005 46.35 46.35 7.82
Q4 2005 60.80 60.80 10.73
Q1 2006 35.68 35.68 6.96
Q2 2006 52.05 52.05 9.74
Q3 2006 50.45 50.45 7.78
Q4 2006 23.71 23.71 3.46
Q1 2007 20.89 20.89 2.71
Q2 2007 17.22 17.22 2.86
Q3 2007 18.21 18.21 3.48
Q4 2007 20.06 20.06 3.93
Q1 2008 19.83 19.83 4.08
Q2 2008 27.97 27.97 5.83
Q3 2008 21.26 21.26 4.27
Q4 2008 11.98 10.75 1.97
Q1 2009 10.34 8.93 1.23
Q2 2009 20.98 16.76 1.54
Q3 2009 30.97 22.25 1.44
Q4 2009 38.09 38.09 1.30
Q1 2010 54.44 54.44 1.52
Q2 2010 49.43 49.43 1.21
Q3 2010 More than 100 More than 100 1.21
Q4 2010 NEG NEG 1.17
Q1 2011 NEG NEG 1.30
Q2 2011 NEG NEG 1.44
Q3 2011 NEG NEG 1.14
Q4 2011 NEG NEG 1.62
Q1 2012 NEG NEG 1.49
Q2 2012 NEG NEG 1.08
Q3 2012 NEG NEG 1.40
Q4 2012 NEG NEG 1.60
Q1 2013 NEG NEG 1.51
Q2 2013 NEG NEG 1.22

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