Arabian Pipes’ net profit more than doubled in H1

08/08/2017 Argaam Exclusive

View other reports

Share Price

166.00
(0.60) (0.36 %)

Arabian Pipes Co. (APC)

 

Arabian Pipes Co.’s net profit jumped to SAR 0.62 million for the first half of this year from SAR 0.23 million a year earlier, due to an increase in finance expenses, a decrease in the average operating cost per ton, as well as a decrease in shipping expenses.

 

The company also launched operations at its plant in Jubail during H1, it said in a statement to Tadawul.



Financials (M)

Item 6m 2016 6m 2017 Change‬
Revenues 166.99 233.24 39.7 %
Gross Income 29.01 23.90 (17.6 %)
Operating Income 5.87 12.02 104.8 %
Net Income 0.23 0.62 175.6 %
Average Shares 10.00 10.00 -
EPS (Riyals) 0.02 0.06 175.6 %

Q2 net profit fell by 72 percent YoY to SAR 3.12 million on lower average selling prices, higher prices of raw materials, and delayed delivery of some contracts.

 

When compared to the previous quarter’s net loss of SAR 2.5 million, second-quarter net profit was attributed to an increase in sales and lower operating expenses.



Current Quarter Comparison (M)

Compared With The
Item Q2 2016 Q2 2017 Change‬
Revenues 105.45 120.62 14.4 %
Gross Income 21.48 15.93 (25.8 %)
Operating Income 11.72 9.41 (19.7 %)
Net Income 11.17 3.12 (72.0 %)
Average Shares 10.00 10.00 -
EPS (Riyals) 1.12 0.31 (72.0 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2008 179.59 47.2 % 54.88 75.0 % 37.93 60.0 % 3.79
Q2 2008 227.78 19.8 % 51.24 (11.6 %) 42.14 1.7 % 4.21
Q3 2008 184.37 18.1 % 51.90 23.3 % 27.35 2.3 % 2.74
Q4 2008 225.10 28.4 % 63.01 22.7 % 9.85 (70.8 %) 0.98
Q1 2009 131.90 (26.6 %) 31.25 (43.1 %) 5.62 (85.2 %) 0.56
Q2 2009 87.56 (61.6 %) 22.13 (56.8 %) 10.63 (74.8 %) 1.06
Q3 2009 102.93 (44.2 %) 32.37 (37.6 %) 8.19 (70.1 %) 0.82
Q4 2009 121.71 (45.9 %) 31.10 (50.6 %) 0.62 (93.7 %) 0.06
Q1 2010 56.18 (57.4 %) 12.72 (59.3 %) 1.16 (79.4 %) 0.12
Q2 2010 95.56 9.1 % 10.23 (53.8 %) 8.32 (21.7 %) 0.83
Q3 2010 53.58 (47.9 %) 2.62 (91.9 %) (4.77) (158.2 %) (0.48)
Q4 2010 50.46 (58.5 %) 3.66 (88.2 %) (8.22) (1419.3 %) (0.82)
Q1 2011 59.28 5.5 % 3.00 (76.4 %) (0.96) (182.7 %) (0.10)
Q2 2011 49.01 (48.7 %) 6.17 (39.7 %) 1.32 (84.2 %) 0.13
Q3 2011 87.11 62.6 % 16.42 527.2 % 0.61 112.9 % 0.06
Q4 2011 79.28 57.1 % 8.42 129.8 % (7.67) 6.7 % (0.77)
Q1 2012 166.39 180.7 % 16.44 448.9 % 2.39 349.9 % 0.24
Q2 2012 161.94 230.4 % 14.96 142.6 % 3.25 147.1 % 0.32
Q3 2012 172.68 98.2 % 14.13 (13.9 %) (7.01) (1241.0 %) (0.70)
Q4 2012 178.91 125.7 % 4.05 (51.9 %) (24.01) (213.2 %) (2.40)
Q1 2013 99.72 (40.1 %) 8.59 (47.8 %) (17.93) (849.0 %) (1.79)
Q2 2013 110.16 (32.0 %) 11.85 (20.8 %) (5.33) (263.9 %) (0.53)
Q3 2013 86.61 (49.8 %) 14.73 4.2 % (4.95) 29.4 % (0.49)
Q4 2013 86.75 (51.5 %) 18.07 346.1 % 37.87 257.7 % 3.79
Q1 2014 85.65 (14.1 %) 10.29 19.8 % (6.82) 62.0 % (0.68)
Q2 2014 111.35 1.1 % 4.32 (63.6 %) (14.05) (163.8 %) (1.41)
Q3 2014 97.04 12.0 % 8.82 (40.1 %) (11.48) (131.9 %) (1.15)
Q4 2014 91.22 5.2 % (0.45) (102.5 %) (20.27) (153.5 %) (2.03)
Q1 2015 161.06 88.0 % 16.03 55.8 % (6.33) 7.2 % (0.63)
Q2 2015 65.06 (41.6 %) 8.39 94.3 % (8.40) 40.2 % (0.84)
Q3 2015 70.08 (27.8 %) 8.17 (7.4 %) (8.93) 22.2 % (0.89)
Q4 2015 76.77 (15.8 %) 4.61 1120.4 % (22.80) (12.5 %) (2.28)
Q1 2016 61.54 (61.8 %) 7.53 (53.0 %) (10.95) (73.0 %) (1.09)
Q2 2016 105.45 62.1 % 21.48 156.1 % 11.17 233.0 % 1.12
Q3 2016 97.26 38.8 % 16.42 101.0 % 4.44 149.8 % 0.44
Q4 2016 100.69 31.2 % 16.69 261.9 % (0.36) 98.4 % (0.04)
Q1 2017 112.62 83.0 % 7.97 5.8 % (2.50) 77.1 % (0.25)
Q2 2017 120.62 14.4 % 15.93 (25.8 %) 3.12 (72.0 %) 0.31

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2008 29.43 % 25.25 % 19.94 %
Q2 2008 27.02 % 22.48 % 19.02 %
Q3 2008 27.30 % 21.35 % 18.40 %
Q4 2008 27.06 % 19.55 % 16.00 %
Q1 2009 25.67 % 17.92 % 12.79 %
Q2 2009 26.76 % 18.19 % 10.63 %
Q3 2009 27.17 % 19.44 % 8.72 %
Q4 2009 26.31 % 19.10 % 5.64 %
Q1 2010 26.69 % 19.22 % 5.59 %
Q2 2010 22.96 % 17.56 % 4.86 %
Q3 2010 17.33 % 14.80 % 1.63 %
Q4 2010 11.43 % 14.47 % (1.37 %)
Q1 2011 7.54 % 13.92 % (2.17 %)
Q2 2011 7.27 % 15.48 % (5.95 %)
Q3 2011 11.89 % 17.51 % (2.95 %)
Q4 2011 12.38 % 19.32 % (2.44 %)
Q1 2012 12.43 % 16.12 % (0.88 %)
Q2 2012 11.37 % 13.27 % (0.28 %)
Q3 2012 9.30 % 9.73 % (1.56 %)
Q4 2012 7.29 % 6.21 % (3.73 %)
Q1 2013 6.80 % 4.15 % (7.45 %)
Q2 2013 6.88 % 2.70 % (9.67 %)
Q3 2013 8.25 % 2.77 % (10.98 %)
Q4 2013 13.89 % 4.19 % 2.52 %
Q1 2014 14.88 % 5.66 % 5.63 %
Q2 2014 12.80 % 3.82 % 3.25 %
Q3 2014 10.90 % 1.66 % 1.45 %
Q4 2014 5.96 % (1.17 %) (13.66 %)
Q1 2015 6.23 % (0.71 %) (11.32 %)
Q2 2015 7.91 % 0.57 % (11.22 %)
Q3 2015 8.29 % 1.48 % (11.34 %)
Q4 2015 9.97 % 0.58 % (12.46 %)
Q1 2016 10.49 % (1.51 %) (18.68 %)
Q2 2016 13.32 % 2.94 % (10.04 %)
Q3 2016 14.68 % 6.25 % (5.32 %)
Q4 2016 17.02 % 14.33 % 1.18 %
Q1 2017 15.04 % 14.57 % 3.07 %
Q2 2017 13.22 % 13.68 % 1.09 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2008 10.00 13.98 13.98 67.97
Q2 2008 10.00 14.05 14.05 67.46
Q3 2008 10.00 14.11 14.11 70.19
Q4 2008 10.00 11.73 13.07 71.18
Q1 2009 10.00 8.50 9.84 71.74
Q2 2009 10.00 5.34 6.69 72.80
Q3 2009 10.00 3.43 4.77 73.62
Q4 2009 10.00 2.51 2.51 73.68
Q1 2010 10.00 2.06 2.06 73.80
Q2 2010 10.00 1.83 1.83 74.63
Q3 2010 10.00 0.53 0.53 74.15
Q4 2010 10.00 (0.35) (0.35) 73.33
Q1 2011 10.00 (0.56) (0.56) 73.24
Q2 2011 10.00 (1.26) (1.26) 73.37
Q3 2011 10.00 (0.72) (0.72) 73.43
Q4 2011 10.00 (0.67) (0.67) 72.66
Q1 2012 10.00 (0.33) (0.33) 72.90
Q2 2012 10.00 (0.14) (0.14) 73.23
Q3 2012 10.00 (0.90) (0.90) 72.53
Q4 2012 10.00 (2.54) (2.54) 70.12
Q1 2013 10.00 (4.57) (4.57) 68.33
Q2 2013 10.00 (5.43) (5.43) 67.80
Q3 2013 10.00 (5.22) (5.22) 67.30
Q4 2013 10.00 0.97 0.97 71.09
Q1 2014 10.00 2.08 2.08 70.41
Q2 2014 10.00 1.21 1.21 69.00
Q3 2014 10.00 0.55 0.55 67.88
Q4 2014 10.00 (5.26) (5.26) 65.86
Q1 2015 10.00 (5.21) (5.21) 65.22
Q2 2015 10.00 (4.65) (4.65) 64.38
Q3 2015 10.00 (4.39) (4.39) 63.49
Q4 2015 10.00 (4.65) (4.65) 61.21
Q1 2016 10.00 (5.11) (5.11) 60.12
Q2 2016 10.00 (3.15) (3.15) 61.23
Q3 2016 10.00 (1.81) (1.81) 61.68
Q4 2016 10.00 0.43 0.43 61.64
Q1 2017 10.00 1.28 1.28 61.39
Q2 2017 10.00 0.47 0.47 61.70

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2008 19.82 19.82 4.08
Q2 2008 27.95 27.95 5.82
Q3 2008 21.25 21.25 4.27
Q4 2008 11.97 10.74 1.97
Q1 2009 10.34 8.93 1.22
Q2 2009 20.97 16.76 1.54
Q3 2009 30.95 22.24 1.44
Q4 2009 38.07 38.07 1.29
Q1 2010 More than 50 More than 50 1.52
Q2 2010 49.41 49.41 1.21
Q3 2010 More than 50 More than 50 1.21
Q4 2010 NEG NEG 1.17
Q1 2011 NEG NEG 1.30
Q2 2011 NEG NEG 1.44
Q3 2011 NEG NEG 1.14
Q4 2011 NEG NEG 1.62
Q1 2012 NEG NEG 1.49
Q2 2012 NEG NEG 1.08
Q3 2012 NEG NEG 1.40
Q4 2012 NEG NEG 1.60
Q1 2013 NEG NEG 1.51
Q2 2013 NEG NEG 1.22
Q3 2013 NEG NEG 1.24
Q4 2013 More than 50 More than 50 1.36
Q1 2014 47.72 47.72 1.41
Q2 2014 More than 50 More than 50 1.52
Q3 2014 More than 50 More than 50 1.94
Q4 2014 NEG NEG 1.17
Q1 2015 NEG NEG 1.21
Q2 2015 NEG NEG 1.29
Q3 2015 NEG NEG 0.88
Q4 2015 NEG NEG 0.88
Q1 2016 NEG NEG 0.66
Q2 2016 NEG NEG 0.88
Q3 2016 NEG NEG 0.84
Q4 2016 More than 50 More than 50 1.15
Q1 2017 More than 50 More than 50 1.10
Q2 2017 More than 50 More than 50 0.86

Current
Market Cap (M Riyal) 1,660.00
Enterprise Value (EV) (M) 2,010.99
Shares Outstanding ((M)) 10.00
EPS ( Riyal) (TTM) 17.36
Book Value (BV) ( Riyal) 28.79
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 9.56
P/E (TTM) 9.56
Price/book 5.77
Return on Average Assets (%) (TTM) 21.1
Return on Average Equity (%) (TTM) 86.6

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.