Saudi Steel Pipe profit up 5% to SAR 181M in 2024; Q4 at SAR 23M

20/02/2025 Argaam Exclusive

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Saudi Steel Pipe Co. (SSP) reported a net profit after minority interest of SAR 181 million for 2024, a 5% rise year-on-year (YoY) from SAR 173 million.

Financials (M)

Item	2023	2024	Change‬
Revenues	1,334.71	1,630.00	22.1 %
Gross Income	283.35	399.00	40.8 %
Operating Income	225.00	307.00	36.4 %
Net Income	173.05	181.00	4.6 %
Average Shares	51.00	51.00	-
Earnings Per Share before unusual items	2.79	3.55	27.1 %
EPS (Riyals)	3.39	3.55	4.6 %

The full-year net earnings before minority interest stood at SAR 250 million, compared to SAR 217 million in 2023.

SSP reported a 22.1% YoY increase in the full-year revenue to SAR 1.63 billion, thanks to improved sales volumes and the consolidation of Global Pipe Co. (GPC) for year 2024.

Gross profit jumped 40.8% YoY to SAR 399 million on higher sales volumes, better sales mix and cost efficiency.

Earnings before interest, taxes, depreciation and amortization (EBITDA) hit SAR 386 million in 2024, up from SAR 282 million a year earlier. Meanwhile, SSP recorded a negative free cash flow (FCF) of SAR 5 million in 2024 against a positive FCF of SAR 308 million a year earlier, due to increased working capital.

The company’s net debt increased to SAR 363 million, from SAR 319 million in 2023.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	488.97	261.89	(46.4 %)
Gross Income	103.37	69.03	(33.2 %)
Operating Income	91.44	49.71	(45.6 %)
Net Income	57.16	23.02	(59.7 %)
Average Shares	51.00	51.00	-
Earnings Per Share before unusual items	1.12	0.45	(59.7 %)
EPS (Riyals)	1.12	0.45	(59.7 %)

Item	Q3 2024	Q4 2024	Change‬
Revenues	380.77	261.89	(31.2 %)
Gross Income	117.92	69.03	(41.5 %)
Operating Income	79.97	49.71	(37.8 %)
Net Income	50.11	23.02	(54.1 %)
Average Shares	51.00	51.00	-
Earnings Per Share before unusual items	0.98	0.45	(54.1 %)
EPS (Riyals)	0.98	0.45	(54.1 %)

The fourth-quarter net profit dipped 60% to SAR 23 million, from SAR 57.1 million in Q4 2023.

The pipe manufacturer’s Q4 net profit also fell by 54.1% from SAR 50.1 million in Q3 2024.

Total shareholders’ equity, excluding minority interest, came in at SAR 862 million as of Dec. 31, 2024, up from SAR 722 million a year earlier.

Attached Documents

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Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
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
Q1 2024	56.11	780.6 %	1.10	-	56.11	1.10
Q2 2024	51.76	(38.8 %)	1.01	-	51.76	1.01
Q3 2024	50.11	100.8 %	0.98	-	50.11	0.98
Q4 2024	23.02	(59.7 %)	0.45	-	23.02	0.45
2024	181.00	4.6 %	3.55	-	181.00	3.55

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
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
2024	181.00	4.6 %	3.55	-	181.00	3.55

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %	91.44	857.1 %
2023	1,334.71	78.5 %	283.35	164.4 %	225.00	236.6 %
Q1 2024	514.94	208.5 %	106.83	347.8 %	88.61	1258.2 %
Q2 2024	472.40	30.7 %	105.22	13.7 %	86.86	15.9 %
Q3 2024	380.77	19.9 %	117.92	85.6 %	79.97	68.9 %
Q4 2024	261.89	(46.4 %)	69.03	(33.2 %)	49.71	(45.6 %)
2024	1,630.00	22.1 %	399.00	40.8 %	307.00	36.4 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %	225.00	236.6 %
2024	1,630.00	22.1 %	399.00	40.8 %	307.00	36.4 %

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %	20.72 %	10.67 %
2023	21.23 %	21.08 %	10.67 %
Q1 2024	21.77 %	21.66 %	11.42 %
Q2 2024	21.13 %	21.24 %	10.59 %
Q3 2024	23.33 %	22.45 %	11.59 %
Q4 2024	24.48 %	-	11.10 %
2024	24.48 %	-	11.10 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %	21.08 %	10.67 %
2024	24.48 %	-	11.10 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %	22.05 %	11.69 %
Q1 2024	20.75 %	20.34 %	10.90 %
Q2 2024	22.27 %	22.07 %	10.96 %
Q3 2024	30.97 %	26.31 %	13.16 %
Q4 2024	26.36 %	-	8.79 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
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
Q1 2024	51.00	4.37	3.77	15.25
Q2 2024	51.00	3.73	3.73	15.53
Q3 2024	51.00	4.22	4.22	16.52
Q4 2024	51.00	3.55	3.55	16.90

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
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
2024	51.00	3.55	3.55	16.90

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q1 2024	15.64	18.13	4.48
Q2 2024	17.50	17.50	4.20
Q3 2024	16.95	16.95	4.33
Q4 2024	18.34	18.34	3.85

Period	P/E	Adjusted P/E	Price/book
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
2024	18.34	18.34	3.85

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 2024 (e)	Q4 2024 (a)	Change‬
Average	63.50	23.02	(63.8 %)

Estimates vs Actual (Million)

Item	Q4 2024 (e)	Q4 2024 (a)	Change
SNB Capital	63.50	23.02	(175.9) %

Financial Ratios

	Current
Market Cap (M Riyal)	3,417.00
Enterprise Value (EV) (M)	4,006.53
Shares Outstanding ((M))	51.00
EPS ( Riyal) (TTM)	3.55
Book Value (BV) ( Riyal)	16.90
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	18.88
P/E (TTM)	18.88
Price/book	3.96
Return on Average Assets (%) (TTM)	9.5
Return on Average Equity (%) (TTM)	12.5

Saudi Steel Pipe Co. (SSP)

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Saudi Steel Pipe profit up 5% to SAR 181M in 2024; Q4 at SAR 23M

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Financials (M)

Current Quarter Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (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) 2024 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 profit up 5% to SAR 181M in 2024; Q4 at SAR 23M

View other reports

Financials (M)

Current Quarter Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (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) 2024 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)