Group Five earns SAR 9.4M in 2023

20/03/2024 Argaam Exclusive

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Group Five Pipe Saudi Co. swung to a net profit of SAR 9.4 million in 2023 against a net loss of SAR 24.2 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	230.54	455.31	97.5 %
Gross Income	2.17	57.41	2549.1 %
Operating Income	(9.85)	40.40	509.9 %
Net Income	(24.38)	9.37	138.5 %
Average Shares	28.00	28.00	-
EPS (Riyals)	(0.87)	0.33	138.5 %

The positive results were buoyed by higher revenues, thanks to an increase in the company’s sales volume and average selling prices per ton.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	172.14	143.82	(16.5 %)
Gross Income	9.27	26.99	191.0 %
Operating Income	3.28	18.03	449.9 %
Net Income	(5.65)	(0.31)	94.6 %
Average Shares	28.00	28.00	-
EPS (Riyals)	(0.20)	(0.01)	94.6 %

Item	H1 2023	H2 2023	Change‬
Revenues	311.48	143.82	(53.8 %)
Gross Income	30.42	26.99	(11.3 %)
Operating Income	22.37	18.03	(19.4 %)
Net Income	9.68	(0.31)	(103.2 %)
Average Shares	28.00	28.00	-
EPS (Riyals)	0.35	(0.01)	(103.2 %)

Total shareholders’ equity, no minority interest, stood at SAR 324.07 million as of Dec. 31, 2023, up from SAR 313.27 million in the prior-year period.

Group Five Interim Financials
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	352.84	30.07	1.07
H2 2020	563.32	53.54	1.91
H1 2021	477.82	28.83	1.03
H2 2021	163.28	6.29	0.22
H1 2022	58.40	(18.73)	(0.67)
H2 2022	172.14	(5.65)	(0.20)
H1 2023	311.484	9.68	0.35
H2 2023	143.824	(0.31)	(0.01)

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	95.43	-	15.39	-	6.81	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	648.83	579.9 %	74.55	384.3 %	63.03	825.6 %
H1 2020	352.84	-	44.25	-	40.50	-
H2 2020	563.33	-	85.51	-	79.52	-
2020	916.16	41.2 %	129.76	74.1 %	120.03	90.4 %
H1 2021	477.82	35.4 %	40.38	(8.7 %)	42.27	4.4 %
H2 2021	163.28	(71.0 %)	20.93	(75.5 %)	11.86	(85.1 %)
2021	641.10	(30.0 %)	61.31	(52.8 %)	54.13	(54.9 %)
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 %)
H1 2023	311.48	433.4 %	30.42	528.1 %	22.37	270.3 %
H2 2023	143.82	(16.5 %)	26.99	191.0 %	18.03	449.9 %
2023	455.31	97.5 %	57.41	2549.1 %	40.40	509.9 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	95.43	-	15.39	-	6.81	-
2019	648.83	579.9 %	74.55	384.3 %	63.03	825.6 %
2020	916.16	41.2 %	129.76	74.1 %	120.03	90.4 %
2021	641.10	(30.0 %)	61.31	(52.8 %)	54.13	(54.9 %)
2022	230.54	(64.0 %)	2.17	(96.5 %)	(9.85)	(118.2 %)
2023	455.31	97.5 %	57.41	2549.1 %	40.40	509.9 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	(3.62)	-	(0.13)	-	(3.62)	(0.13)
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	39.69	1197.4 %	1.42	-	39.69	1.42
H1 2020	30.07	-	1.07	-	30.07	1.07
H2 2020	53.54	-	1.91	-	53.54	1.91
2020	83.61	110.7 %	2.99	-	83.61	2.99
H1 2021	28.83	(4.1 %)	1.03	-	28.83	1.03
H2 2021	6.29	(88.3 %)	0.22	-	6.29	0.22
2021	35.12	(58.0 %)	1.25	-	35.12	1.25
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)
H1 2023	9.68	151.7 %	0.35	-	9.68	0.35
H2 2023	(0.31)	94.6 %	(0.01)	-	(0.31)	(0.01)
2023	9.37	138.5 %	0.33	-	9.37	0.33

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	(3.62)	-	(0.13)	-	(3.62)	(0.13)
2019	39.69	1197.4 %	1.42	-	39.69	1.42
2020	83.61	110.7 %	2.99	-	83.61	2.99
2021	35.12	(58.0 %)	1.25	-	35.12	1.25
2022	(24.38)	(169.4 %)	(0.87)	-	(24.38)	(0.87)
2023	9.37	138.5 %	0.33	-	9.37	0.33

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	16.13 %	17.77 %	(3.79 %)
H1 2019	-	-	-
H2 2019	-	-	-
2019	11.49 %	10.96 %	6.12 %
H1 2020	-	-	-
H2 2020	14.16 %	14.68 %	9.13 %
2020	14.16 %	14.68 %	9.13 %
H1 2021	12.09 %	13.56 %	7.91 %
H2 2021	9.56 %	11.79 %	5.48 %
2021	9.56 %	11.79 %	5.48 %
H1 2022	6.23 %	9.12 %	(5.61 %)
H2 2022	0.94 %	5.00 %	(10.57 %)
2022	0.94 %	5.00 %	(10.57 %)
H1 2023	8.21 %	9.75 %	0.83 %
H2 2023	12.61 %	13.61 %	2.06 %
2023	12.61 %	13.61 %	2.06 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	16.13 %	17.77 %	(3.79 %)
2019	11.49 %	10.96 %	6.12 %
2020	14.16 %	14.68 %	9.13 %
2021	9.56 %	11.79 %	5.48 %
2022	0.94 %	5.00 %	(10.57 %)
2023	12.61 %	13.61 %	2.06 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	12.54 %	13.08 %	8.52 %
H2 2020	15.18 %	15.68 %	9.50 %
H1 2021	8.45 %	11.07 %	6.03 %
H2 2021	12.82 %	13.89 %	3.85 %
H1 2022	(12.17 %)	(4.24 %)	(32.08 %)
H2 2022	5.39 %	8.14 %	(3.28 %)
H1 2023	9.77 %	10.64 %	3.11 %
H2 2023	18.76 %	20.05 %	(0.21 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
H1 2014	-	-	-	-
H2 2014	-	-	-	-
H1 2015	-	-	-	-
H2 2015	-	-	-	-
H1 2016	-	-	-	-
H2 2016	-	-	-	-
H1 2017	-	-	-	-
H2 2017	-	-	-	-
H1 2018	-	-	-	-
H2 2018	-	-	-	-
H1 2019	-	-	-	-
H2 2019	-	-	-	-
H1 2020	28.00	-	-	8.81
H2 2020	28.00	2.99	2.99	10.68
H1 2021	28.00	2.94	2.94	11.71
H2 2021	28.00	1.25	1.25	11.95
H1 2022	28.00	(0.44)	(0.44)	11.28
H2 2022	28.00	(0.87)	(0.87)	11.19
H1 2023	28.00	0.14	0.14	11.53
H2 2023	28.00	0.33	0.33	11.57

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	28.00	(0.13)	(0.13)	6.31
2019	28.00	1.42	1.42	7.73
2020	28.00	2.99	2.99	10.68
2021	28.00	1.25	1.25	11.95
2022	28.00	(0.87)	(0.87)	11.19
2023	28.00	0.33	0.33	11.57

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
H1 2014	-	-	-
H2 2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
H1 2021	-	-	-
H2 2021	30.50	30.50	3.20
H1 2022	NEG	NEG	2.22
H2 2022	NEG	NEG	2.15
H1 2023	More than 100	More than 100	1.92
H2 2023	94.09	94.09	2.72

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	30.50	30.50	3.20
2022	NEG	NEG	2.15
2023	94.09	94.09	2.72

Business Segments (Million)

Compared With The

Period	Pipe sales	Scrap sales and others
Q2 2020	327.47	25.37
Q4 2020	536.63	26.70
Q2 2021	453.36	24.46
Q4 2021	156.88	6.40
Q2 2022	56.31	2.09
Q4 2022	167.21	4.94
Q2 2023	305.35	6.14
Q4 2023	135.83	8.00

Period	Pipe sales	Scrap sales and others
2019	621.61	27.23
2020	864.10	52.06
2021	610.24	30.86
2022	223.52	7.02
2023	441.18	14.13

Financial Ratios

	Current
Market Cap (M Riyal)	1,128.40
Enterprise Value (EV) (M)	1,886.45
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	3.48

Group Five Pipe Saudi Co. (GROUP FIVE)

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Group Five earns SAR 9.4M in 2023

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Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Group Five Pipe Saudi Co. (GROUP FIVE)

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Group Five earns SAR 9.4M in 2023

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2023

Revenue by Business Segment (Latest) 2023 Q4

Financial Ratios

Share Price

Group Five Pipe Saudi Co. (GROUP FIVE)

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Business Segments (Million)