Arabian Pipes profit up to SAR 54.8M in Q1 2024

12/05/2024 Argaam Exclusive

Arabian Pipes Co. reported a net profit of SAR 54.8 million in Q1 2024, an increase from SAR 11.5 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2023 Q1 2024 Change‬
Revenues 214.68 308.75 43.8 %
Gross Income 28.67 95.26 232.2 %
Operating Income 13.92 64.22 361.4 %
Net Income 11.50 54.79 376.5 %
Average Shares 15.00 15.00 -
EPS (Riyals) 0.77 3.65 376.5 %

Revenue increased to SAR 308.74 million for the first quarter of 2024 from SAR 214.68 million for Q1 2023 as a result of higher sales volume.

 

Gross profit increased to SAR 95.26 million in Q1 2024 from SAR 28.67 million in Q1 2023 driven by the rise in sales volume, primarily attributed to the efficiency of production and supply during the first quarter. Additionally, the company has continued to improve production costs and financial expenses.

 

Compared to Q4 2023, the first-quarter net profit grew 34.7% from SAR 40.69 million.

 

Shareholders’ equity, no minority interest, rose to SAR 287.9 million as of March 31, 2024, from SAR 112.8 million a year earlier.

 

Attached Documents

 

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Share Price

Arabian Pipes Co.
113.80
3.00 2.71 %

Arabian Pipes Co. (APC)

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Financial Ratios
Current
Market Cap (M Riyal) 1,707.00
Enterprise Value (EV) (M) 2,071.24
Shares Outstanding ((M)) 15.00
EPS ( Riyal) (TTM) 13.09
Book Value (BV) ( Riyal) 25.92
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 8.57
P/E (TTM) 8.69
Price/book 4.39
Return on Average Assets (%) (TTM) 21.8
Return on Average Equity (%) (TTM) 67.3
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 161.06 88.0 % 16.03 55.8 % 0.41 229.6 %
Q2 2015 65.06 (41.6 %) 8.39 94.3 % (2.19) 70.1 %
Q3 2015 70.08 (27.8 %) 8.17 (7.4 %) (1.35) 70.1 %
Q4 2015 76.77 (15.8 %) 4.61 1120.4 % (18.19) (18.8 %)
Q1 2016 61.54 (61.8 %) 7.53 (53.0 %) (5.85) (1520.9 %)
Q2 2016 105.45 62.1 % 21.48 156.1 % 11.72 635.3 %
Q3 2016 97.26 38.8 % 16.42 101.0 % 11.03 920.0 %
Q4 2016 100.69 31.2 % 16.69 261.9 % 11.73 164.5 %
Q1 2017 112.62 83.0 % 7.97 5.8 % 2.60 144.5 %
Q2 2017 120.62 14.4 % 15.93 (25.8 %) 9.41 (19.7 %)
Q3 2017 137.86 41.7 % 21.35 30.0 % 14.84 34.5 %
Q4 2017 188.51 87.2 % 7.15 (57.2 %) (0.92) (107.9 %)
Q1 2018 121.95 8.3 % 2.81 (64.7 %) (5.10) (295.9 %)
Q2 2018 165.72 37.4 % 6.82 (57.2 %) (0.26) (102.7 %)
Q3 2018 186.21 35.1 % 2.32 (89.1 %) (5.05) (134.0 %)
Q4 2018 224.44 19.1 % (62.21) (969.9 %) (71.92) (7,709.3 %)
Q1 2019 180.03 47.6 % 22.39 695.7 % 13.99 374.3 %
Q2 2019 191.53 15.6 % 25.06 267.7 % 14.89 5915.6 %
Q3 2019 210.35 13.0 % 28.35 1122.1 % 20.54 506.8 %
Q4 2019 159.18 (29.1 %) 20.67 133.2 % 15.72 121.9 %
Q1 2020 66.45 (63.1 %) (1.40) (106.3 %) (11.66) (183.3 %)
Q2 2020 45.36 (76.3 %) 4.38 (82.5 %) (7.50) (150.4 %)
Q3 2020 162.04 (23.0 %) 6.24 (78.0 %) (2.82) (113.7 %)
Q4 2020 95.43 (40.0 %) (140.52) (780.0 %) (152.17) (1067.9 %)
Q1 2021 129.34 94.6 % 13.71 1076.4 % 5.16 144.3 %
Q2 2021 124.08 173.5 % 4.91 12.1 % (8.41) (12.1 %)
Q3 2021 92.61 (42.8 %) (1.16) (118.6 %) (10.51) (273.2 %)
Q4 2021 42.67 (55.3 %) (1.22) 99.1 % (36.02) 76.3 %
Q1 2022 61.72 (52.3 %) 1.43 (89.5 %) (12.69) (345.7 %)
Q2 2022 70.04 (43.6 %) (6.43) (230.9 %) (11.59) (37.8 %)
Q3 2022 175.42 89.4 % 25.79 2315.5 % 18.26 273.7 %
Q4 2022 173.29 306.2 % 10.28 944.7 % 2.40 106.7 %
Q1 2023 214.68 247.9 % 28.67 1899.6 % 13.92 209.7 %
Q2 2023 318.28 354.4 % 70.77 1201.5 % 56.60 588.4 %
Q3 2023 234.12 33.5 % 59.75 131.7 % 44.76 145.2 %
Q4 2023 302.67 74.7 % 68.92 570.4 % 48.89 1938.9 %
Q1 2024 308.75 43.8 % 95.26 232.2 % 64.22 361.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 (6.33) 7.2 % (0.42) - (6.33) (0.42)
Q2 2015 (8.40) 40.2 % (0.56) - (8.40) (0.56)
Q3 2015 (8.93) 22.2 % (0.60) - (8.93) (0.60)
Q4 2015 (22.80) (12.5 %) (1.52) - (22.80) (1.52)
Q1 2016 (10.95) (73.0 %) (0.73) - (10.95) (0.73)
Q2 2016 11.17 233.0 % 0.74 - 11.17 0.74
Q3 2016 4.44 149.8 % 0.30 - 4.44 0.30
Q4 2016 (0.36) 98.4 % (0.02) - (0.36) (0.02)
Q1 2017 (2.50) 77.1 % (0.17) - (2.50) (0.17)
Q2 2017 3.12 (72.0 %) 0.21 - 3.12 0.21
Q3 2017 6.64 49.3 % 0.44 - 6.64 0.44
Q4 2017 (1.96) (449.0 %) (0.13) - (1.96) (0.13)
Q1 2018 (8.85) (253.4 %) (0.59) - (8.85) (0.59)
Q2 2018 (7.96) (354.7 %) (0.53) - (7.96) (0.53)
Q3 2018 (16.85) (353.9 %) (1.12) (3.00) (13.85) (0.92)
Q4 2018 (89.05) (4,443.1 %) (5.94) (5.72) (83.33) (5.56)
Q1 2019 8.10 191.6 % 0.54 - 8.10 0.54
Q2 2019 8.09 201.6 % 0.54 - 8.09 0.54
Q3 2019 9.19 154.5 % 0.61 - 9.19 0.61
Q4 2019 4.88 105.5 % 0.33 - 4.88 0.33
Q1 2020 (16.85) (308.0 %) (1.12) - (16.85) (1.12)
Q2 2020 (18.84) (333.0 %) (1.26) - (18.84) (1.26)
Q3 2020 (3.45) (137.6 %) (0.23) - (3.45) (0.23)
Q4 2020 (156.20) (3301.5 %) (10.41) - (156.20) (10.41)
Q1 2021 0.95 105.6 % 0.06 - 0.95 0.06
Q2 2021 (13.06) 30.7 % (0.87) - (13.06) (0.87)
Q3 2021 (16.83) (387.4 %) (1.12) - (16.83) (1.12)
Q4 2021 (33.15) 78.8 % (2.21) - (33.15) (2.21)
Q1 2022 (13.21) (1490.8 %) (0.88) - (13.21) (0.88)
Q2 2022 (4.25) 67.4 % (0.28) 8.66 (12.91) (0.86)
Q3 2022 9.94 159.1 % 0.66 - 9.94 0.66
Q4 2022 (2.97) 91.1 % (0.20) - (2.97) (0.20)
Q1 2023 11.50 187.0 % 0.77 - 11.50 0.77
Q2 2023 45.45 1168.6 % 3.03 (7.26) 52.71 3.51
Q3 2023 36.74 269.5 % 2.45 (2.88) 39.62 2.64
Q4 2023 40.69 1472.3 % 2.71 - 40.69 2.71
Q1 2024 54.79 376.5 % 3.65 (2.86) 57.65 3.84

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 6.23 % (0.71 %) (11.32 %)
Q2 2015 7.91 % 0.57 % (11.22 %)
Q3 2015 8.29 % 1.48 % (11.34 %)
Q4 2015 9.97 % 0.58 % (12.46 %)
Q1 2016 10.49 % (1.51 %) (18.68 %)
Q2 2016 13.32 % 2.94 % (10.04 %)
Q3 2016 14.68 % 6.25 % (5.32 %)
Q4 2016 17.02 % 14.33 % 1.18 %
Q1 2017 15.04 % 14.57 % 3.07 %
Q2 2017 13.22 % 13.68 % 1.09 %
Q3 2017 13.13 % 13.37 % 1.46 %
Q4 2017 9.36 % 9.13 % 0.95 %
Q1 2018 8.30 % 7.71 % (0.18 %)
Q2 2018 6.21 % 5.61 % (1.98 %)
Q3 2018 2.88 % 2.27 % (4.92 %)
Q4 2018 (7.20 %) (7.97 %) (16.32 %)
Q1 2019 (4.06 %) (4.77 %) (12.83 %)
Q2 2019 (1.59 %) (2.65 %) (10.35 %)
Q3 2019 1.69 % 0.55 % (7.19 %)
Q4 2019 13.02 % 12.58 % 4.08 %
Q1 2020 11.58 % 10.85 % 0.84 %
Q2 2020 10.80 % 9.66 % (4.49 %)
Q3 2020 6.90 % 5.58 % (7.91 %)
Q4 2020 (35.55 %) (39.15 %) (52.90 %)
Q1 2021 (26.88 %) (29.58 %) (41.08 %)
Q2 2021 (22.64 %) (25.26 %) (33.62 %)
Q3 2021 (27.88 %) (30.99 %) (41.94 %)
Q4 2021 4.18 % (5.35 %) (15.97 %)
Q1 2022 1.23 % (11.89 %) (23.75 %)
Q2 2022 (2.76 %) (15.25 %) (28.50 %)
Q3 2022 5.60 % (3.13 %) (14.10 %)
Q4 2022 6.47 % 6.03 % (3.99 %)
Q1 2023 9.21 % 8.86 % 0.88 %
Q2 2023 15.37 % 14.14 % 8.07 %
Q3 2023 18.02 % 16.10 % 10.73 %
Q4 2023 21.32 % 18.64 % 13.51 %
Q1 2024 25.32 % 21.57 % 16.38 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 15.00 (3.48) (3.48) 43.48
Q2 2015 15.00 (3.10) (3.10) 42.92
Q3 2015 15.00 (2.93) (2.93) 42.33
Q4 2015 15.00 (3.10) (3.10) 40.81
Q1 2016 15.00 (3.40) (3.40) 40.08
Q2 2016 15.00 (2.10) (2.10) 40.82
Q3 2016 15.00 (1.21) (1.21) 41.12
Q4 2016 15.00 0.29 0.29 41.09
Q1 2017 15.00 0.85 0.85 40.93
Q2 2017 15.00 0.31 0.31 41.14
Q3 2017 15.00 0.46 0.46 41.58
Q4 2017 15.00 0.35 0.35 41.45
Q1 2018 15.00 (0.07) (0.07) 40.86
Q2 2018 15.00 (0.81) (0.81) 40.33
Q3 2018 15.00 (2.37) (2.17) 39.20
Q4 2018 15.00 (8.18) (7.60) 33.26
Q1 2019 15.00 (7.05) (6.47) 33.80
Q2 2019 15.00 (5.98) (5.40) 34.34
Q3 2019 15.00 (4.24) (3.86) 34.95
Q4 2019 15.00 2.02 2.02 26.87
Q1 2020 15.00 0.35 0.35 33.97
Q2 2020 15.00 (1.44) (1.44) 32.82
Q3 2020 15.00 (2.28) (2.28) 32.59
Q4 2020 15.00 (13.02) (13.02) 11.08
Q1 2021 15.00 (11.84) (11.84) 13.82
Q2 2021 15.00 (11.45) (11.45) 12.95
Q3 2021 15.00 (12.34) (12.34) 11.83
Q4 2021 15.00 (4.14) (4.14) 7.05
Q1 2022 15.00 (5.08) (5.08) 6.17
Q2 2022 15.00 (4.50) (5.07) 5.88
Q3 2022 15.00 (2.71) (3.29) 6.55
Q4 2022 15.00 (0.70) (1.28) 6.75
Q1 2023 15.00 0.95 0.37 7.52
Q2 2023 15.00 4.26 4.75 10.55
Q3 2023 15.00 6.05 6.72 13.00
Q4 2023 15.00 8.96 9.63 15.54
Q1 2024 15.00 11.84 12.71 19.19

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 NEG NEG 1.21
Q2 2015 NEG NEG 1.29
Q3 2015 NEG NEG 0.88
Q4 2015 NEG NEG 0.88
Q1 2016 NEG NEG 0.66
Q2 2016 NEG NEG 0.88
Q3 2016 NEG NEG 0.84
Q4 2016 More than 100 More than 100 1.15
Q1 2017 52.85 52.85 1.10
Q2 2017 More than 100 More than 100 0.86
Q3 2017 76.12 76.12 0.84
Q4 2017 92.21 92.21 0.79
Q1 2018 NEG NEG 0.84
Q2 2018 NEG NEG 0.82
Q3 2018 NEG NEG 0.69
Q4 2018 NEG NEG 0.75
Q1 2019 NEG NEG 0.78
Q2 2019 NEG NEG 0.78
Q3 2019 NEG NEG 0.94
Q4 2019 16.87 16.87 1.27
Q1 2020 80.14 80.14 0.83
Q2 2020 NEG NEG 0.99
Q3 2020 NEG NEG 1.47
Q4 2020 NEG NEG 4.32
Q1 2021 NEG NEG 4.33
Q2 2021 NEG NEG 4.12
Q3 2021 NEG NEG 4.34
Q4 2021 NEG NEG 6.23
Q1 2022 NEG NEG 6.10
Q2 2022 NEG NEG 4.08
Q3 2022 NEG NEG 3.45
Q4 2022 NEG NEG 3.95
Q1 2023 33.80 86.42 4.26
Q2 2023 9.52 8.55 3.84
Q3 2023 9.66 8.69 4.49
Q4 2023 9.50 8.83 5.48
Q1 2024 9.03 8.42 5.57

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