East Pipes incurs SAR 18.6 mln loss in Q1 2023/24

East Pipes incurs SAR 18.6 mln loss in Q1 2023/24

31/07/2023 Argaam Exclusive

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​East Pipes Integrated Co. reported a net loss of SAR 18.6 million in the first quarter ended June 30, 2023, against a net profit of SAR 6.2 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 206.03 38.85 (81.1 %)
Gross Income 18.54 (6.32) (134.1 %)
Operating Income 11.92 (11.42) (195.8 %)
Net Income 6.23 (18.56) (397.8 %)
Average Shares 31.50 31.50 -
EPS (Riyals) 0.20 (0.59) (397.8 %)

This was due to a decline in sales volume in the current period and a slight increase in financing costs on higher SAIBOR rates.

 

The company reported revenues of SAR 39 million in the three-month period, down 81.1% from SAR 206 million a year earlier.

 

Compared to the previous quarter, the firm swung to a loss from a SAR 36.94 million profit.

 

Shareholders’ equity, with no minority interest, increased to SAR 597.18 million by the end of the first quarter, from SAR 521.42 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 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 -
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 %
Q3 2022 487.25 265.7 % 68.43 1008.3 % 61.47 524.0 %
Q4 2022 442.29 128.3 % 55.03 270.0 % 46.37 215.4 %
Q1 2023 38.85 (81.1 %) (6.32) (134.1 %) (11.42) (195.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 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
Q1 2022 6.23 190.2 % 0.20 - 6.23 0.20
Q2 2022 9.22 1155.5 % 0.29 - 9.22 0.29
Q3 2022 47.52 352.3 % 1.51 - 47.52 1.51
Q4 2022 36.94 157.9 % 1.17 - 36.94 1.17
Q1 2023 (18.56) (397.8 %) (0.59) - (18.56) (0.59)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 4.64 % 6.55 % (0.54 %)
Q1 2022 5.34 % 5.83 % 0.13 %
Q2 2022 4.75 % 5.86 % 1.31 %
Q3 2022 9.72 % 10.48 % 6.50 %
Q4 2022 10.83 % 11.01 % 6.95 %
Q1 2023 10.30 % 10.62 % 5.91 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q3 2022 31.50 2.45 2.45 18.37
Q4 2022 31.50 3.17 3.17 19.54
Q1 2023 31.50 2.38 2.38 18.96

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q3 2022 18.63 18.63 2.49
Q4 2022 11.76 11.76 1.91
Q1 2023 21.38 21.38 2.69

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
Q3 2022 440.53 46.72
Q4 2022 382.51 59.78
Q1 2023 29.46 9.39


Financial Ratios
Current
Market Cap (M Riyal) 4,473.00
Enterprise Value (EV) (M) 4,405.71
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) 9.95
P/E (TTM) 9.95
Price/book 4.54
Return on Average Assets (%) (TTM) 33.4
Return on Average Equity (%) (TTM) 57.2
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Share Price

East Pipes Integrated Company for Industry
142.00
4.00 2.90 %

East Pipes Integrated Company for Industry (EAST PIPES)

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