East Pipes 2024/25 profit jumps 43% to SAR 382.1M; Q4 at SAR 85.6M

21/05/2025 Argaam Exclusive

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East Pipes Integrated Company for Industry reported a 43% jump in net profit to SAR 382.1 million for the fiscal year ended March 31, 2025, compared to SAR 267.5 million a year ago.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,543.17 1,832.85 18.8 %
Gross Income 350.56 460.10 31.2 %
Operating Income 324.01 429.80 32.6 %
Net Income 267.51 382.12 42.8 %
Average Shares 31.50 31.50 -
Earnings Per Share before unusual items (Riyals) 8.49 12.13 42.8 %
EPS (Riyals) 8.49 12.13 42.8 %

The company reported a 19% year-on-year (YoY) increase in the FY 2024/25 revenue to SAR 1.83 billion, driven by strong project execution, favorable pricing in the water and the oil & gas segments, higher sales volumes, and lower production cost per ton.

 

EBITDA rose 32.2% YoY to SAR 466 million for the same year, supported by revenue growth and cost control. This led to a 250-basis-point expansion in EBITDA margin to 25.4% in FY 2024/25, from 22.9%in the year before, with the net profit margin also improving YoY to 20.8% from 17.3% in FY 2023/24.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 721.75 400.37 (44.5 %)
Gross Income 212.82 104.18 (51.1 %)
Operating Income 204.29 95.05 (53.5 %)
Net Income 179.56 85.59 (52.3 %)
Average Shares 31.50 31.50 -
Earnings Per Share before unusual items (Riyals) 5.70 2.72 (52.3 %)
EPS (Riyals) 5.70 2.72 (52.3 %)

In Q4 2024/25, the company’s bottom line declined 52.3% YoY to SAR 85.6 million, from SAR 112.44 million in the corresponding period a year earlier.

 

Sequentially, the 12-month earnings also slumped by 24% from SAR 112.44 million in Q3 2024/25.

 

Shareholders’ equity, no minority interest, increased to SAR 1.13 billion as of March 31, 2025, from SAR 851.91 million a year earlier.

 

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Share Price

East Pipes Integrated Company for Industry
105.60
(5.20) (4.69 %)

East Pipes Integrated Company for Industry (EAST PIPES)

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Financial Ratios
Current
Market Cap (M Riyal) 3,326.40
Enterprise Value (EV) (M) 3,421.95
Shares Outstanding ((M)) 31.50
EPS ( Riyal) (TTM) 12.13
Book Value (BV) ( Riyal) 36.01
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 8.71
P/E (TTM) 8.71
Price/book 2.93
Return on Average Assets (%) (TTM) 24.5
Return on Average Equity (%) (TTM) 38.5
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