East Pipes profit grows to SAR 184.1M in H1 2024/25; Q2 at SAR 112.8M

East Pipes profit grows to SAR 184.1M in H1 2024/25; Q2 at SAR 112.8M

31/10/2024 Argaam Exclusive

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East Pipes Integrated Co. posted a net profit rise to SAR 184.1 million for the six-month period ended Sept. 30, 2024, from SAR 2.2 million in the prior-year period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 269.11 904.57 236.1 %
Gross Income 26.85 220.18 719.9 %
Operating Income 15.96 213.89 1240.3 %
Net Income 2.23 184.09 8147.5 %
Average Shares 31.50 31.50 -
EPS (Riyals) 0.07 5.84 8147.5 %

The profit growth was driven by an increase in revenue to SAR 905 million for H1 2024/25, compared to SAR 269 million a year earlier due to better sales volumes, scheduled delivery plans and enhanced profit margins.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 230.27 540.15 134.6 %
Gross Income 33.11 133.76 304.0 %
Operating Income 27.37 127.10 364.3 %
Net Income 20.79 112.85 442.7 %
Average Shares 31.50 31.50 -
EPS (Riyals) 0.66 3.58 442.7 %

The second-quarter net profit skyrocketed to SAR 112.8 million, from SAR 29.7 million in Q2 2023/24.

 

Net profit also jumped 58.4% from SAR 71.2 million in the previous quarter.

 

Shareholders’ equity, no minority interest, rose to SAR 985.08 million as of Sept. 30, 2024, from SAR 586.52 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %)
Q2 2023 230.27 (24.0 %) 33.11 140.0 % 27.37 106.0 %
Q3 2023 552.30 13.4 % 110.95 62.1 % 103.76 68.8 %
Q4 2023 721.75 63.2 % 212.82 286.7 % 204.29 340.6 %
Q1 2024 364.42 838.1 % 86.42 1467.1 % 86.79 860.2 %
Q2 2024 540.15 134.6 % 133.76 304.0 % 127.10 364.3 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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)
Q2 2023 20.79 125.4 % 0.66 - 20.79 0.66
Q3 2023 85.72 80.4 % 2.72 - 85.72 2.72
Q4 2023 179.56 386.1 % 5.70 - 179.56 5.70
Q1 2024 71.24 483.8 % 2.26 - 71.24 2.26
Q2 2024 112.85 442.7 % 3.58 - 112.85 3.58

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q2 2023 12.54 % 12.51 % 7.23 %
Q3 2023 15.25 % 15.28 % 9.88 %
Q4 2023 22.72 % 22.72 % 17.33 %
Q1 2024 23.72 % 24.11 % 19.12 %
Q2 2024 24.97 % - 20.63 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q2 2023 31.50 2.75 2.75 18.62
Q3 2023 31.50 3.96 3.96 21.36
Q4 2023 31.50 8.49 8.49 27.04
Q1 2024 31.50 11.34 11.34 29.30
Q2 2024 31.50 14.27 14.27 31.27

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q2 2023 22.67 22.67 3.35
Q3 2023 16.52 16.52 3.07
Q4 2023 9.60 9.60 3.01
Q1 2024 11.28 11.28 4.37
Q2 2024 11.29 11.29 5.15

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
Q2 2023 221.69 8.58
Q3 2023 546.55 5.75
Q4 2023 649.66 72.10
Q1 2024 339.64 24.78
Q2 2024 535.39 4.76


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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