Arabian Pipes Co. narrowed its net loss after Zakat and tax to SAR 60.1 million in 2021, from SAR 195 million in 2020, driven by higher sales, improved economic activities, and a decline in the cost of goods sold.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 369.29 | 388.70 | 5.3 % |
| Gross Income | (131.30) | 16.24 | 112.4 % |
| Operating Income | (174.15) | (49.78) | 71.4 % |
| Net Income | (195.34) | (62.08) | 68.2 % |
| Average Shares | 10.00 | 10.00 | - |
| EPS (Riyals) | (19.53) | (6.21) | 68.2 % |
Q4 net loss shrank to SAR 31.2 million, from SAR 156.20 million in Q4 2020.
On a sequential level, Q4 net losses widened from SAR 16.83 million in Q3 2021.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 95.43 | 42.67 | (55.3 %) |
| Gross Income | (140.52) | (1.22) | 99.1 % |
| Operating Income | (152.17) | (36.02) | 76.3 % |
| Net Income | (156.20) | (33.15) | 78.8 % |
| Average Shares | 10.00 | 10.00 | - |
| EPS (Riyals) | (15.62) | (3.31) | 78.8 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 92.61 | 42.67 | (53.9 %) |
| Gross Income | (1.16) | (1.22) | (4.6 %) |
| Operating Income | (10.51) | (36.02) | (242.6 %) |
| Net Income | (16.83) | (33.15) | (96.9 %) |
| Average Shares | 10.00 | 10.00 | - |
| EPS (Riyals) | (1.68) | (3.31) | (96.9 %) |
Total shareholders’ equity, excluding minority interest, dropped 36.4% year-on-year (YoY) to SAR 105.7 million, from SAR 166.2 million in 2020.
Accumulated losses stood at SAR 300 million, accounting for 102.81% of capital, in 2021.
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