Group Five swings to SAR 24.4 mln loss in 2022
19/03/2023
Argaam Exclusive
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Group Five Pipe Saudi Ltd. turned to a net loss of SAR 24.4 million in 2022, against a net profit of SAR 35 million in 2021.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 641.10 | 230.54 | (64.0 %) |
| Gross Income | 61.31 | 2.17 | (96.5 %) |
| Operating Income | 54.13 | (9.85) | (118.2 %) |
| Net Income | 35.12 | (24.38) | (169.4 %) |
| Average Shares | 28.00 | 28.00 | - |
| EPS (Riyals) | 1.25 | (0.87) | (169.4 %) |
The company attributed these losses to unfavorable market conditions, mainly the strong leaps in raw material prices, which weighed on the annual results. Group Five did not enter into any contracts in line with its production capacity.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 163.28 | 172.14 | 5.4 % |
| Gross Income | 20.93 | 9.27 | (55.7 %) |
| Operating Income | 11.86 | 3.28 | (72.4 %) |
| Net Income | 6.29 | (5.65) | (189.8 %) |
| Average Shares | 28.00 | 28.00 | - |
| EPS (Riyals) | 0.22 | (0.20) | (189.8 %) |
Shareholders’ equity, no minority interest, decreased to SAR 313.27 million as of Dec. 31, 2022, from SAR 334.47 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 58.40 | (87.8 %) | (7.11) | (117.6 %) | (13.13) | (131.1 %) |
| H2 2022 | 172.14 | 5.4 % | 9.27 | (55.7 %) | 3.28 | (72.4 %) |
| 2022 | 230.54 | (64.0 %) | 2.17 | (96.5 %) | (9.85) | (118.2 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | (18.73) | (165.0 %) | (0.67) | - | (18.73) | (0.67) |
| H2 2022 | (5.65) | (189.8 %) | (0.20) | - | (5.65) | (0.20) |
| 2022 | (24.38) | (169.4 %) | (0.87) | - | (24.38) | (0.87) |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 6.23 % | 9.12 % | (5.61 %) |
| H2 2022 | 0.94 % | 5.00 % | (10.57 %) |
| 2022 | 0.94 % | 5.00 % | (10.57 %) |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 28.00 | (0.44) | (0.44) | 11.28 |
| H2 2022 | 28.00 | (0.87) | (0.87) | 11.19 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | NEG | NEG | 2.22 |
| H2 2022 | NEG | NEG | 2.15 |
Business Segments (Million)
Q4 2022
| Period | Pipe sales | Scrap sales and others |
|---|---|---|
| Q2 2022 | 56.31 | 2.09 |
| Q4 2022 | 167.21 | 4.94 |
| Current | |
| Market Cap (M Riyal) | 1,075.20 |
| Enterprise Value (EV) (M) | 1,833.25 |
| Shares Outstanding ((M)) | 28.00 |
| Book Value (BV) ( Riyal) | 11.57 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | More than 100 |
| Price/book | 3.32 |
Share Price
Group Five Pipe Saudi Co. (GROUP FIVE)
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