Group Five H1 2024 profit down 5% to SAR 9.2M

Group Five H1 2024 profit down 5% to SAR 9.2M

11/08/2024 Argaam Exclusive

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Group Five Pipe Saudi Co. reported a 5% decline in net profit to SAR 9.2 million in the first half of 2024, compared to SAR 9.7 million a year earlier due to higher financing costs.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 311.48 375.93 20.7 %
Gross Income 30.42 39.89 31.1 %
Operating Income 22.37 28.32 26.6 %
Net Income 9.68 9.21 (4.9 %)
Average Shares 28.00 28.00 -
EPS (Riyals) 0.35 0.33 (4.9 %)

The company’s revenue jumped by 20.7% year-on-year (YoY) to SAR 376 million in the six-month period, driven by improved sales volumes and average selling prices per ton.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 311.48 375.93 20.7 %
Gross Income 30.42 39.89 31.1 %
Operating Income 22.37 28.32 26.6 %
Net Income 9.68 9.21 (4.9 %)
Average Shares 28.00 28.00 -
EPS (Riyals) 0.35 0.33 (4.9 %)

Shareholders’ equity, no minority interest, reached SAR 333.28 million by the end of the first half of 2024, up from SAR 322.95 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

Earnings Per Share

(SAR)

H1 2020

352.84

30.07

1.07

H2 2020

563.32

53.54

1.92

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)

H1 2024

375.93

9.21

0.33
 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 352.84 - 44.25 - 40.50 -
H2 2020 563.33 - 85.51 - 79.52 -
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 %)
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 %)
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 %
H1 2024 375.93 20.7 % 39.89 31.1 % 28.32 26.6 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 30.07 - 1.07 - 30.07 1.07
H2 2020 53.54 - 1.91 - 53.54 1.91
H1 2021 28.83 (4.1 %) 1.03 - 28.83 1.03
H2 2021 6.29 (88.3 %) 0.22 - 6.29 0.22
H1 2022 (18.73) (165.0 %) (0.67) - (18.73) (0.67)
H2 2022 (5.65) (189.8 %) (0.20) - (5.65) (0.20)
H1 2023 9.68 151.7 % 0.35 - 9.68 0.35
H2 2023 (0.31) 94.6 % (0.01) - (0.31) (0.01)
H1 2024 9.21 (4.9 %) 0.33 - 9.21 0.33

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 14.16 % 14.68 % 9.13 %
H1 2021 12.09 % 13.56 % 7.91 %
H2 2021 9.56 % 11.79 % 5.48 %
H1 2022 6.23 % 9.12 % (5.61 %)
H2 2022 0.94 % 5.00 % (10.57 %)
H1 2023 8.21 % 9.75 % 0.83 %
H2 2023 12.61 % 13.61 % 2.06 %
H1 2024 12.87 % 13.08 % 1.71 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
H1 2024 28.00 0.32 0.32 11.90

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
H1 2024 More than 100 More than 100 3.59

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
Q2 2024 368.87 7.06


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
more

Share Price

Group Five Pipe Saudi Co.
40.30
1.90 4.95 %

Group Five Pipe Saudi Co. (GROUP FIVE)

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