Saudi Steel Pipe posts SAR 173.1M profit in 2023; Q4 at SAR 57.2M

25/02/2024 Argaam Exclusive

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Saudi Steel Pipe Co. (SSP) reported a net profit after minority interest of SAR 173.1 million for 2023, compared to SAR 54.2 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	747.62	1,334.71	78.5 %
Gross Income	107.16	283.35	164.4 %
Operating Income	66.84	215.01	221.7 %
Net Income	54.21	173.05	219.2 %
Average Shares	51.00	51.00	-
EPS (Riyals)	1.06	3.39	219.2 %

Revenue rose to SAR 1.33 billion in 2023 from SAR 748 million in 2022 on higher volumes. This boost was attributed to the consolidation of post-acquisition results from Global Pipe Company (GPC), as SSP increased its total ownership in GPC to 57.27%.

Gross profit grew to SAR 283 million in 2023 from SAR 107 million in 2022, driven by an improved mix of products sold. Additionally, SSP recognized a bargain purchase gain of SAR 40 million last year by acquiring an additional 22.27% stake in GPC.

Other income increased to SAR 10 million in 2023 from SAR 3 million in 2022, mainly due to consolidating GPC’s post-acquisition results.

Additionally, Zakat and tax expenses decreased to SAR 7 million last year from SAR 10 million a year before.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	146.94	488.97	232.8 %
Gross Income	20.57	103.37	402.6 %
Operating Income	9.55	86.21	802.4 %
Net Income	11.14	57.16	413.2 %
Average Shares	51.00	51.00	-
EPS (Riyals)	0.22	1.12	413.2 %

Item	Q3 2023	Q4 2023	Change‬
Revenues	317.47	488.97	54.0 %
Gross Income	63.54	103.37	62.7 %
Operating Income	47.34	86.21	82.1 %
Net Income	24.96	57.16	129.0 %
Average Shares	51.00	51.00	-
EPS (Riyals)	0.49	1.12	129.0 %

Q4 2023 net earnings reached SAR 57.2 million, compared to SAR 11 million in the prior-year period.

On a sequential basis, Q4 net profit surged 129% from SAR 24.96 million in Q3 2023.

Shareholders’ equity, after minority interest, amounted to SAR 722 million by Dec. 31, 2023, compared to SAR 551 million in a year-earlier period.

View more financial results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	224.73	(9.6 %)	21.65	(42.9 %)	9.05	(63.2 %)
Q2 2014	249.65	0.2 %	32.69	(17.1 %)	19.91	(24.9 %)
Q3 2014	241.88	39.8 %	23.65	(15.4 %)	9.81	(45.6 %)
Q4 2014	141.74	(16.0 %)	19.38	(24.8 %)	7.03	(50.1 %)
2014	857.99	2.2 %	97.25	(25.8 %)	47.28	(43.2 %)
Q1 2015	248.49	10.6 %	29.24	35.0 %	14.61	61.3 %
Q2 2015	279.97	12.1 %	38.88	18.9 %	24.70	24.1 %
Q3 2015	179.88	(25.6 %)	21.52	(9.0 %)	8.34	(15.0 %)
Q4 2015	143.55	1.3 %	11.55	(40.4 %)	(1.11)	(115.8 %)
2015	852.09	(0.7 %)	95.78	(1.5 %)	41.09	(13.1 %)
Q1 2016	194.34	(21.8 %)	28.94	(1.0 %)	13.57	(7.1 %)
Q2 2016	151.35	(45.9 %)	16.01	(58.8 %)	3.29	(86.7 %)
Q3 2016	122.61	(31.8 %)	10.46	(51.4 %)	(0.23)	(102.8 %)
Q4 2016	136.47	(4.9 %)	(1.56)	(113.5 %)	(14.30)	(1,191.7 %)
2016	604.77	(29.0 %)	53.85	(43.8 %)	2.33	(94.3 %)
Q1 2017	128.01	(34.1 %)	18.12	(37.4 %)	7.78	(42.7 %)
Q2 2017	162.10	7.1 %	22.32	39.4 %	10.12	207.6 %
Q3 2017	194.56	58.7 %	24.07	130.1 %	14.23	6209.0 %
Q4 2017	211.75	55.2 %	28.94	1954.9 %	17.22	220.4 %
2017	696.42	15.2 %	93.44	73.5 %	50.36	2062.2 %
Q1 2018	177.14	38.4 %	16.80	(7.3 %)	5.62	(27.8 %)
Q2 2018	156.29	(3.6 %)	(0.43)	(101.9 %)	(12.53)	(223.9 %)
Q3 2018	126.48	(35.0 %)	(11.82)	(149.1 %)	(23.55)	(265.5 %)
Q4 2018	186.29	(12.0 %)	(6.61)	(122.9 %)	(20.96)	(221.7 %)
2018	646.20	(7.2 %)	(2.07)	(102.2 %)	(51.42)	(202.1 %)
Q1 2019	195.31	10.3 %	12.53	(25.4 %)	2.33	(58.6 %)
Q2 2019	161.85	3.6 %	0.88	306.5 %	(11.00)	12.2 %
Q3 2019	157.80	24.8 %	0.13	101.1 %	(10.65)	54.8 %
Q4 2019	156.60	(15.9 %)	(0.36)	94.6 %	(15.50)	26.0 %
2019	671.55	3.9 %	13.18	736.3 %	(34.82)	32.3 %
Q1 2020	122.34	(37.4 %)	4.49	(64.1 %)	(18.03)	(874.8 %)
Q2 2020	58.26	(64.0 %)	(14.97)	(1793.0 %)	(29.08)	(164.4 %)
Q3 2020	150.32	(4.7 %)	21.46	17071.2 %	12.61	218.4 %
Q4 2020	154.73	(1.2 %)	8.11	2360.2 %	(0.01)	100.0 %
2020	474.90	(29.3 %)	19.14	45.3 %	(32.85)	5.7 %
Q1 2021	92.08	(24.7 %)	2.35	(47.6 %)	(6.15)	65.9 %
Q2 2021	88.48	51.9 %	4.83	132.2 %	(5.12)	82.4 %
Q3 2021	83.32	(44.6 %)	7.58	(64.7 %)	(1.41)	(111.2 %)
Q4 2021	109.62	(29.2 %)	12.57	55.0 %	4.07	81580.0 %
2021	373.49	(21.4 %)	27.34	42.8 %	(8.60)	73.8 %
Q1 2022	184.08	99.9 %	28.96	1130.6 %	19.12	411.1 %
Q2 2022	211.82	139.4 %	27.28	465.4 %	17.83	448.2 %
Q3 2022	204.78	145.8 %	30.36	300.4 %	20.33	1539.8 %
Q4 2022	146.94	34.1 %	20.57	63.6 %	9.55	134.5 %
2022	747.62	100.2 %	107.16	292.0 %	66.84	876.8 %
Q1 2023	166.89	(9.3 %)	23.86	(17.6 %)	6.52	(65.9 %)
Q2 2023	361.38	70.6 %	92.58	239.4 %	74.94	320.2 %
Q3 2023	317.47	55.0 %	63.54	109.3 %	47.34	132.8 %
Q4 2023	488.97	232.8 %	103.37	402.6 %	86.21	802.4 %
2023	1,334.71	78.5 %	283.35	164.4 %	215.01	221.7 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	857.99	2.2 %	97.25	(25.8 %)	47.28	(43.2 %)
2015	852.09	(0.7 %)	95.78	(1.5 %)	41.09	(13.1 %)
2016	604.77	(29.0 %)	53.85	(43.8 %)	2.33	(94.3 %)
2017	696.42	15.2 %	93.44	73.5 %	50.36	2062.2 %
2018	646.20	(7.2 %)	(2.07)	(102.2 %)	(51.42)	(202.1 %)
2019	671.55	3.9 %	13.18	736.3 %	(34.82)	32.3 %
2020	474.90	(29.3 %)	19.14	45.3 %	(32.85)	5.7 %
2021	373.49	(21.4 %)	27.34	42.8 %	(8.60)	73.8 %
2022	747.62	100.2 %	107.16	292.0 %	66.84	876.8 %
2023	1,334.71	78.5 %	283.35	164.4 %	215.01	221.7 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	4.03	(82.6 %)	0.08	-	4.03	0.08
Q2 2014	15.55	(38.1 %)	0.30	-	15.55	0.30
Q3 2014	6.59	(59.7 %)	0.13	-	6.59	0.13
Q4 2014	5.30	(64.3 %)	0.10	-	5.30	0.10
2014	31.20	(60.7 %)	0.61	-	31.20	0.61
Q1 2015	11.41	183.3 %	0.22	-	11.41	0.22
Q2 2015	23.46	50.8 %	0.46	-	23.46	0.46
Q3 2015	8.02	21.6 %	0.16	(1.02)	9.04	0.18
Q4 2015	(1.30)	(124.6 %)	(0.03)	-	(1.30)	(0.03)
2015	33.38	7.0 %	0.65	(1.02)	34.40	0.67
Q1 2016	8.52	(25.4 %)	0.17	-	8.52	0.17
Q2 2016	3.04	(87.0 %)	0.06	-	3.04	0.06
Q3 2016	5.21	(35.0 %)	0.10	(2.00)	7.21	0.14
Q4 2016	(61.90)	(4,650.5 %)	(1.21)	(43.03)	(18.87)	(0.37)
2016	(45.13)	(235.2 %)	(0.88)	(45.03)	(0.10)	0.00
Q1 2017	10.21	19.8 %	0.20	-	10.21	0.20
Q2 2017	7.69	152.9 %	0.15	-	7.69	0.15
Q3 2017	(14.46)	(377.4 %)	(0.28)	(23.62)	9.16	0.18
Q4 2017	15.65	125.3 %	0.31	-	15.65	0.31
2017	19.09	142.3 %	0.37	(23.62)	42.71	0.84
Q1 2018	(5.04)	(149.3 %)	(0.10)	-	(5.04)	(0.10)
Q2 2018	(36.83)	(578.8 %)	(0.72)	(21.00)	(15.83)	(0.31)
Q3 2018	(24.15)	(67.0 %)	(0.47)	-	(24.15)	(0.47)
Q4 2018	(102.65)	(755.8 %)	(2.01)	(81.99)	(20.66)	(0.41)
2018	(168.66)	(983.4 %)	(3.31)	(102.99)	(65.67)	(1.29)
Q1 2019	0.33	106.5 %	0.01	-	0.33	0.01
Q2 2019	(10.17)	72.4 %	(0.20)	-	(10.17)	(0.20)
Q3 2019	(14.12)	41.5 %	(0.28)	-	(14.12)	(0.28)
Q4 2019	(2.87)	97.2 %	(0.06)	-	(2.87)	(0.06)
2019	(26.83)	84.1 %	(0.53)	-	(26.83)	(0.53)
Q1 2020	(17.77)	(5567.7 %)	(0.35)	-	(17.77)	(0.35)
Q2 2020	(27.02)	(165.8 %)	(0.53)	-	(27.02)	(0.53)
Q3 2020	9.58	167.8 %	0.19	-	9.58	0.19
Q4 2020	0.74	125.7 %	0.01	-	0.74	0.01
2020	(34.48)	(28.5 %)	(0.68)	-	(34.48)	(0.68)
Q1 2021	(8.48)	52.3 %	(0.17)	-	(8.48)	(0.17)
Q2 2021	(8.08)	70.1 %	(0.16)	-	(8.08)	(0.16)
Q3 2021	15.92	66.2 %	0.31	19.64	(3.72)	(0.07)
Q4 2021	1.57	112.6 %	0.03	-	1.57	0.03
2021	0.93	102.7 %	0.02	19.64	(18.71)	(0.37)
Q1 2022	14.53	271.4 %	0.28	-	14.53	0.28
Q2 2022	11.74	245.4 %	0.23	-	11.74	0.23
Q3 2022	16.79	5.5 %	0.33	-	16.79	0.33
Q4 2022	11.14	609.9 %	0.22	-	11.14	0.22
2022	54.21	5716.1 %	1.06	-	54.21	1.06
Q1 2023	6.37	(56.1 %)	0.12	-	6.37	0.12
Q2 2023	84.56	620.1 %	1.66	30.66	53.91	1.06
Q3 2023	24.96	48.6 %	0.49	-	24.96	0.49
Q4 2023	57.16	413.2 %	1.12	-	57.16	1.12
2023	173.05	219.2 %	3.39	30.66	142.40	2.79

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	31.20	(60.7 %)	0.61	-	31.20	0.61
2015	33.38	7.0 %	0.65	(1.02)	34.40	0.67
2016	(45.13)	(235.2 %)	(0.88)	(45.03)	(0.10)	0.00
2017	19.09	142.3 %	0.37	(23.62)	42.71	0.84
2018	(168.66)	(983.4 %)	(3.31)	(102.99)	(65.67)	(1.29)
2019	(26.83)	84.1 %	(0.53)	-	(26.83)	(0.53)
2020	(34.48)	(28.5 %)	(0.68)	-	(34.48)	(0.68)
2021	0.93	102.7 %	0.02	19.64	(18.71)	(0.37)
2022	54.21	5716.1 %	1.06	-	54.21	1.06
2023	173.05	219.2 %	3.39	30.66	142.40	2.79

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	14.08 %	11.55 %	7.40 %
Q2 2014	13.24 %	11.01 %	6.23 %
Q3 2014	11.72 %	9.50 %	4.64 %
Q4 2014	11.35 %	9.10 %	3.67 %
2014	11.33 %	9.27 %	3.64 %
Q1 2015	11.90 %	9.69 %	4.41 %
Q2 2015	12.19 %	10.10 %	5.13 %
Q3 2015	12.82 %	10.81 %	5.79 %
Q4 2015	11.88 %	10.12 %	5.00 %
2015	11.24 %	9.48 %	4.04 %
Q1 2016	12.65 %	10.74 %	4.98 %
Q2 2016	11.66 %	9.63 %	2.88 %
Q3 2016	10.94 %	9.23 %	2.85 %
Q4 2016	8.90 %	7.52 %	(0.02 %)
2016	8.90 %	7.52 %	(0.02 %)
Q1 2017	7.99 %	7.20 %	0.29 %
Q2 2017	8.98 %	8.23 %	1.14 %
Q3 2017	10.13 %	9.54 %	1.32 %
Q4 2017	13.42 %	13.14 %	6.13 %
2017	13.42 %	13.29 %	6.13 %
Q1 2018	12.36 %	12.33 %	3.68 %
Q2 2018	9.38 %	9.68 %	0.53 %
Q3 2018	4.98 %	5.28 %	(4.37 %)
Q4 2018	(0.32 %)	(0.60 %)	(10.16 %)
2018	(0.32 %)	(0.60 %)	(10.16 %)
Q1 2019	(0.95 %)	(1.21 %)	(9.08 %)
Q2 2019	(0.75 %)	(1.12 %)	(8.16 %)
Q3 2019	0.99 %	0.71 %	(6.36 %)
Q4 2019	1.96 %	1.48 %	(3.99 %)
2019	1.96 %	1.48 %	(4.00 %)
Q1 2020	0.86 %	(1.76 %)	(7.50 %)
Q2 2020	(2.16 %)	(5.78 %)	(12.48 %)
Q3 2020	2.18 %	(1.06 %)	(7.81 %)
Q4 2020	3.93 %	2.15 %	(7.10 %)
2020	4.03 %	2.55 %	(7.26 %)
Q1 2021	3.73 %	4.92 %	(5.53 %)
Q2 2021	7.57 %	9.59 %	(1.29 %)
Q3 2021	5.46 %	7.78 %	(4.67 %)
Q4 2021	7.32 %	9.87 %	(5.01 %)
2021	7.32 %	9.87 %	(5.01 %)
Q1 2022	11.59 %	13.24 %	0.92 %
Q2 2022	12.97 %	14.24 %	4.10 %
Q3 2022	13.96 %	14.80 %	6.28 %
Q4 2022	14.33 %	14.63 %	7.25 %
2022	14.33 %	14.63 %	7.25 %
Q1 2023	13.97 %	13.19 %	6.30 %
Q2 2023	19.02 %	17.69 %	10.02 %
Q3 2023	20.20 %	19.00 %	9.71 %
Q4 2023	21.23 %	20.33 %	10.67 %
2023	21.23 %	20.33 %	10.67 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	11.33 %	9.27 %	3.64 %
2015	11.24 %	9.48 %	4.04 %
2016	8.90 %	7.52 %	(0.02 %)
2017	13.42 %	13.29 %	6.13 %
2018	(0.32 %)	(0.60 %)	(10.16 %)
2019	1.96 %	1.48 %	(4.00 %)
2020	4.03 %	2.55 %	(7.26 %)
2021	7.32 %	9.87 %	(5.01 %)
2022	14.33 %	14.63 %	7.25 %
2023	21.23 %	20.33 %	10.67 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	9.63 %	7.75 %	1.79 %
Q2 2014	13.09 %	11.24 %	6.23 %
Q3 2014	9.78 %	7.55 %	2.73 %
Q4 2014	13.67 %	10.11 %	3.74 %
Q1 2015	11.77 %	9.97 %	4.59 %
Q2 2015	13.89 %	12.40 %	8.38 %
Q3 2015	11.97 %	10.03 %	5.03 %
Q4 2015	8.04 %	6.07 %	(0.91 %)
Q1 2016	14.89 %	12.44 %	4.38 %
Q2 2016	10.58 %	8.92 %	2.01 %
Q3 2016	8.53 %	8.24 %	5.88 %
Q4 2016	(1.14 %)	(1.67 %)	(13.83 %)
Q1 2017	14.15 %	13.63 %	7.97 %
Q2 2017	13.77 %	12.30 %	4.75 %
Q3 2017	12.37 %	12.41 %	4.71 %
Q4 2017	13.67 %	14.17 %	7.39 %
Q1 2018	9.48 %	10.07 %	(2.84 %)
Q2 2018	(0.27 %)	(0.24 %)	(10.13 %)
Q3 2018	(9.35 %)	(9.50 %)	(19.09 %)
Q4 2018	(3.55 %)	(5.00 %)	(11.09 %)
Q1 2019	6.41 %	6.98 %	0.17 %
Q2 2019	0.55 %	0.12 %	(6.28 %)
Q3 2019	0.08 %	0.29 %	(8.95 %)
Q4 2019	(0.23 %)	(2.76 %)	(1.83 %)
Q1 2020	3.67 %	(5.62 %)	(14.52 %)
Q2 2020	(25.69 %)	(30.69 %)	(46.38 %)
Q3 2020	14.28 %	15.90 %	6.37 %
Q4 2020	5.24 %	7.31 %	0.48 %
Q1 2021	2.56 %	5.52 %	(9.21 %)
Q2 2021	5.45 %	7.07 %	(9.13 %)
Q3 2021	9.10 %	11.92 %	(4.47 %)
Q4 2021	11.47 %	14.24 %	1.43 %
Q1 2022	15.73 %	16.21 %	7.89 %
Q2 2022	12.88 %	13.44 %	5.54 %
Q3 2022	14.83 %	15.23 %	8.20 %
Q4 2022	14.00 %	13.54 %	7.58 %
Q1 2023	14.29 %	10.07 %	3.82 %
Q2 2023	25.62 %	24.28 %	14.92 %
Q3 2023	20.01 %	20.23 %	7.86 %
Q4 2023	21.14 %	20.98 %	11.69 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	51.00	1.18	1.18	15.41
Q2 2014	51.00	1.00	1.00	15.66
Q3 2014	51.00	0.80	0.80	15.75
Q4 2014	51.00	0.62	0.62	15.75
Q1 2015	51.00	0.76	0.76	15.93
Q2 2015	51.00	0.92	0.92	15.82
Q3 2015	51.00	0.94	0.96	15.44
Q4 2015	51.00	0.82	0.84	15.23
Q1 2016	51.00	0.76	0.78	15.38
Q2 2016	51.00	0.36	0.38	15.47
Q3 2016	51.00	0.30	0.34	15.56
Q4 2016	51.00	(0.88)	0.00	13.95
Q1 2017	51.00	(0.85)	0.03	14.16
Q2 2017	51.00	(0.76)	0.12	14.31
Q3 2017	51.00	(1.15)	0.16	14.02
Q4 2017	51.00	0.37	0.84	14.31
Q1 2018	51.00	0.08	0.54	14.20
Q2 2018	51.00	(0.80)	0.08	13.48
Q3 2018	51.00	(0.99)	(0.58)	13.01
Q4 2018	51.00	(3.31)	(1.29)	10.97
Q1 2019	51.00	(3.20)	(1.18)	10.98
Q2 2019	51.00	(2.68)	(1.07)	10.78
Q3 2019	51.00	(2.48)	(0.87)	10.50
Q4 2019	51.00	(0.53)	(0.53)	10.35
Q1 2020	51.00	(0.88)	(0.88)	10.01
Q2 2020	51.00	(1.21)	(1.21)	9.48
Q3 2020	51.00	(0.75)	(0.75)	9.69
Q4 2020	51.00	(0.68)	(0.68)	9.67
Q1 2021	51.00	(0.49)	(0.49)	9.50
Q2 2021	51.00	(0.12)	(0.12)	9.35
Q3 2021	51.00	0.00	(0.38)	9.66
Q4 2021	51.00	0.02	(0.37)	9.71
Q1 2022	51.00	0.47	0.08	9.99
Q2 2022	51.00	0.86	0.47	10.23
Q3 2022	51.00	0.88	0.88	10.55
Q4 2022	51.00	1.06	1.06	10.79
Q1 2023	51.00	0.90	0.90	10.92
Q2 2023	51.00	2.33	1.73	12.58
Q3 2023	51.00	2.49	1.89	13.07
Q4 2023	51.00	3.39	2.79	14.15

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	51.00	0.61	0.61	15.75
2015	51.00	0.65	0.67	15.23
2016	51.00	(0.88)	0.00	13.95
2017	51.00	0.37	0.84	14.31
2018	51.00	(3.31)	(1.29)	10.97
2019	51.00	(0.53)	(0.53)	10.35
2020	51.00	(0.68)	(0.68)	9.67
2021	51.00	0.02	(0.37)	9.71
2022	51.00	1.06	1.06	10.79
2023	51.00	3.39	2.79	14.15

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	31.68	31.68	2.43
Q2 2014	33.82	33.82	2.15
Q3 2014	47.24	47.24	2.41
Q4 2014	38.95	38.95	1.53
Q1 2015	37.18	37.18	1.78
Q2 2015	31.20	31.20	1.81
Q3 2015	22.33	21.87	1.37
Q4 2015	26.67	26.03	1.43
Q1 2016	23.24	22.64	1.15
Q2 2016	50.51	47.84	1.17
Q3 2016	44.18	39.13	0.86
Q4 2016	NEG	NEG	1.37
Q1 2017	NEG	More than 100	1.19
Q2 2017	NEG	More than 100	1.08
Q3 2017	NEG	More than 100	1.21
Q4 2017	42.98	19.21	1.12
Q1 2018	More than 100	40.66	1.54
Q2 2018	NEG	More than 100	1.47
Q3 2018	NEG	NEG	1.68
Q4 2018	NEG	NEG	1.65
Q1 2019	NEG	NEG	2.17
Q2 2019	NEG	NEG	2.04
Q3 2019	NEG	NEG	2.02
Q4 2019	NEG	NEG	2.00
Q1 2020	NEG	NEG	1.45
Q2 2020	NEG	NEG	1.76
Q3 2020	NEG	NEG	2.40
Q4 2020	NEG	NEG	2.88
Q1 2021	NEG	NEG	3.18
Q2 2021	NEG	NEG	3.47
Q3 2021	More than 100	NEG	3.06
Q4 2021	More than 100	NEG	2.60
Q1 2022	53.79	More than 100	2.53
Q2 2022	23.68	42.97	1.99
Q3 2022	23.77	23.77	1.97
Q4 2022	16.84	16.84	1.66
Q1 2023	23.37	23.37	1.93
Q2 2023	11.48	15.47	2.13
Q3 2023	14.15	18.65	2.70
Q4 2023	10.70	13.00	2.56

Period	P/E	Adjusted P/E	Price/book
2014	39.29	39.29	1.53
2015	33.23	32.24	1.43
2016	NEG	NEG	1.37
2017	42.98	19.21	1.12
2018	NEG	NEG	1.65
2019	NEG	NEG	2.00
2020	NEG	NEG	2.88
2021	More than 100	NEG	2.60
2022	16.84	16.84	1.66
2023	10.70	13.00	2.56

Business Segments (Million)

Compared With The

Period	Steele Pipes	Process equipment
Q1 2016	189.38	4.96
Q2 2016	142.38	8.96
Q3 2016	108.37	14.24
Q4 2016	117.56	18.91
Q1 2017	112.31	15.70
Q2 2017	147.84	14.26
Q3 2017	166.54	28.03
Q4 2017	190.06	21.69
Q1 2018	164.97	12.17
Q2 2018	143.73	12.56
Q3 2018	112.50	13.98
Q4 2018	166.54	19.76
Q1 2019	176.76	18.56
Q2 2019	138.74	23.10
Q3 2019	127.23	30.57
Q4 2019	139.82	16.77
Q1 2020	111.60	10.74
Q2 2020	58.26	14.37
Q3 2020	150.31	6.23
Q4 2020	154.73	2.26
Q1 2021	92.08	2.62

Period	Steele Pipes	Process equipment
2016	557.70	47.07
2017	616.74	79.68
2018	587.74	58.46
2019	582.55	89.00
2020	474.90	33.62

Analysts Estimates (Million)

Item	Q4 2023 (e)	Q4 2023 (a)	Change‬
Average	21.30	57.16	168.36 %

Estimates vs Actual (Million)

Item	Q4 2023 (e)	Q4 2023 (a)	Change
SNB Capital	21.30	57.16	168.4 %

Financial Ratios

	Current
Market Cap (M Riyal)	3,468.00
Enterprise Value (EV) (M)	4,012.81
Shares Outstanding ((M))	51.00
EPS ( Riyal) (TTM)	4.22
Book Value (BV) ( Riyal)	16.51
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	16.11
P/E (TTM)	16.11
Price/book	4.12
Return on Average Assets (%) (TTM)	11.1
Return on Average Equity (%) (TTM)	28.6

Saudi Steel Pipe Co. (SSP)

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Saudi Steel Pipe posts SAR 173.1M profit in 2023; Q4 at SAR 57.2M

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Financials (M)

Current Quarter 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

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Saudi Steel Pipe Co. (SSP)

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Saudi Steel Pipe posts SAR 173.1M profit in 2023; Q4 at SAR 57.2M

View other reports

Financials (M)

Current Quarter 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) Q1 2021

Revenue by Business Segment (Latest) 2023 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Saudi Steel Pipe Co. (SSP)

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Business Segments (Million)