Saudi Steel Pipe turns to net loss in 9M 2018

Saudi Steel Pipe reported a net loss of SAR 66 million for the first nine months of 2018, compared to a profit of SAR 3.44 million for the same period last year. The loss was attributed to a SAR 21 million impairment loss, as well as a net loss incurred by an associate company (Global Pipe Company) and a subsidiary (TSM Arabia).

The company also cited other factors such as a scheduled shutdown at a large diameter factory; provisions for slow-moving inventory; provisions for warranty on project sales; and lower sales of commercial pipes and increase in raw material prices resulting in lower margins.

Financials (M)

Item	9m 2017	9m 2018	Change‬
Revenues	484.67	459.91	(5.1 %)
Gross Income	64.51	4.54	(93.0 %)
Operating Income	33.14	(30.47)	(191.9 %)
Net Income	3.44	(66.01)	(2019.0 %)
Average Shares	51.00	51.00	-
Earnings Per Share before unusual items (Riyals)	0.53	(0.88)	(266.3 %)
EPS (Riyal)	0.07	(1.29)	(2019.0 %)

In the third quarter, Saudi Steel Pipe widened its net loss by 67 percent year-on-year to SAR 24.15 million, on account of losses incurred by its subsidiary, production shut-down, and a decrease in project deliveries. Moreover, the firm saw lower sales of commercial pipes and higher raw material prices, resulting in lower margins.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2017	Q3 2018	Change‬
Revenues	194.56	126.48	(35.0 %)
Gross Income	24.07	(11.82)	(149.1 %)
Operating Income	14.23	(23.55)	(265.5 %)
Net Income	(14.46)	(24.15)	(67.0 %)
Average Shares	51.00	51.00	-
Earnings Per Share before unusual items (Riyal)	0.18	(0.47)	(363.5 %)
EPS (Riyal)	(0.28)	(0.47)	(67.0 %)

Item	Q2 2018	Q3 2018	Change‬
Revenues	156.29	126.48	(19.1 %)
Gross Income	(0.43)	(11.82)	(2,662.6 %)
Operating Income	(12.53)	(23.55)	(87.9 %)
Net Income	(36.83)	(24.15)	34.4 %
Average Shares	51.00	51.00	-
Earnings Per Share before unusual items (Riyal)	(0.31)	(0.47)	(52.6 %)
EPS (Riyal)	(0.72)	(0.47)	34.4 %

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Share Price

Saudi Steel Pipe Co. (SSP)

	Current
Market Cap (M Riyal)	2,053.26
Enterprise Value (EV) (M Riyal)	2,560.99
Shares Outstanding ((M))	51.00
EPS ( Riyal) (TTM)	3.33
Book Value (BV) ( Riyal)	15.89
Par Value ( Riyal)	10.00
Recurring P/E	17.65
P/E (TTM)	12.08
Price/book	2.53
Return on Average Assets (%) (TTM)	9.8
Return on Average Equity (%) (TTM)	20.6
EV/adj EBITDA	8.58
EV/Revenues	1.98

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2009	155.80	-	40.80	-	34.46	-
Q2 2009	145.28	-	40.19	-	34.20	-
Q3 2009	130.83	-	36.93	-	30.80	-
Q4 2009	106.74	-	21.69	-	14.17	-
2009	538.65	(34.1 %)	139.61	(19.2 %)	113.62	(19.8 %)
Q1 2010	153.44	(1.5 %)	28.11	(31.1 %)	19.93	(42.2 %)
Q2 2010	168.86	16.2 %	33.00	(17.9 %)	25.27	(26.1 %)
Q3 2010	104.11	(20.4 %)	13.27	(64.1 %)	6.79	(77.9 %)
Q4 2010	166.87	56.3 %	34.15	57.4 %	25.63	80.8 %
2010	593.28	10.1 %	108.53	(22.3 %)	77.62	(31.7 %)
Q1 2011	163.11	6.3 %	28.75	2.3 %	21.04	5.6 %
Q2 2011	153.83	(8.9 %)	29.74	(9.9 %)	21.17	(16.2 %)
Q3 2011	140.14	34.6 %	17.97	35.3 %	10.02	47.4 %
Q4 2011	172.27	3.2 %	23.03	(32.6 %)	13.91	(45.7 %)
2011	629.35	6.1 %	99.49	(8.3 %)	66.14	(14.8 %)
Q1 2012	206.85	26.8 %	29.13	1.3 %	19.36	(8.0 %)
Q2 2012	187.48	21.9 %	22.88	(23.1 %)	13.33	(37.1 %)
Q3 2012	152.16	8.6 %	19.39	7.9 %	9.87	(1.5 %)
Q4 2012	179.87	4.4 %	26.57	15.4 %	15.12	8.7 %
2012	726.36	15.4 %	97.96	(1.5 %)	57.67	(12.8 %)
Q1 2013	248.48	20.1 %	37.91	30.2 %	24.63	27.3 %
Q2 2013	249.13	32.9 %	39.45	72.5 %	26.51	98.9 %
Q3 2013	172.98	13.7 %	27.95	44.1 %	18.02	82.6 %
Q4 2013	168.76	(6.2 %)	25.76	(3.0 %)	14.09	(6.8 %)
2013	839.34	15.6 %	131.07	33.8 %	83.25	44.4 %
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 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2008	816.87	12.2 %	172.80	10.7 %	141.70	8.8 %
2009	538.65	(34.1 %)	139.61	(19.2 %)	113.62	(19.8 %)
2010	593.28	10.1 %	108.53	(22.3 %)	77.62	(31.7 %)
2011	629.35	6.1 %	99.49	(8.3 %)	66.14	(14.8 %)
2012	726.36	15.4 %	97.96	(1.5 %)	57.67	(12.8 %)
2013	839.34	15.6 %	131.07	33.8 %	83.25	44.4 %
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 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
Q1 2009	33.61	-	0.96	-	33.61	0.96
Q2 2009	35.85	-	1.02	-	35.85	1.02
Q3 2009	30.17	-	0.59	-	30.17	0.59
Q4 2009	13.19	-	0.26	-	13.19	0.26
2009	112.83	(14.7 %)	2.21	-	112.83	2.21
Q1 2010	20.02	(40.4 %)	0.39	-	20.02	0.39
Q2 2010	25.16	(29.8 %)	0.49	-	25.16	0.49
Q3 2010	6.54	(78.3 %)	0.13	-	6.54	0.13
Q4 2010	21.23	60.9 %	0.42	-	21.23	0.42
2010	72.95	(35.3 %)	1.43	-	72.95	1.43
Q1 2011	21.01	5.0 %	0.41	-	21.01	0.41
Q2 2011	21.34	(15.2 %)	0.42	-	21.34	0.42
Q3 2011	9.40	43.7 %	0.18	-	9.40	0.18
Q4 2011	13.37	(37.0 %)	0.26	-	13.37	0.26
2011	65.12	(10.7 %)	1.28	-	65.12	1.28
Q1 2012	18.32	(12.8 %)	0.36	-	18.32	0.36
Q2 2012	12.38	(42.0 %)	0.24	-	12.38	0.24
Q3 2012	8.92	(5.1 %)	0.17	-	8.92	0.17
Q4 2012	14.09	5.4 %	0.28	-	14.09	0.28
2012	53.71	(17.5 %)	1.05	-	53.71	1.05
Q1 2013	23.11	26.2 %	0.45	-	23.11	0.45
Q2 2013	25.11	102.7 %	0.49	-	25.11	0.49
Q3 2013	16.37	83.5 %	0.32	-	16.37	0.32
Q4 2013	14.86	5.4 %	0.29	-	14.86	0.29
2013	79.44	47.9 %	1.56	-	79.44	1.56
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)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
2008	132.32	13.9 %	3.78	-	132.32	3.78
2009	112.83	(14.7 %)	2.21	-	112.83	2.21
2010	72.95	(35.3 %)	1.43	-	72.95	1.43
2011	65.12	(10.7 %)	1.28	-	65.12	1.28
2012	53.71	(17.5 %)	1.05	-	53.71	1.05
2013	79.44	47.9 %	1.56	-	79.44	1.56
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

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	-
Q4 2009	25.92 %	23.89 %	20.95 %
2009	25.92 %	23.89 %	20.95 %
Q1 2010	23.67 %	21.51 %	18.50 %
Q2 2010	21.38 %	19.23 %	15.81 %
Q3 2010	18.02 %	15.98 %	12.18 %
Q4 2010	18.29 %	16.59 %	12.30 %
2010	18.29 %	16.59 %	12.30 %
Q1 2011	18.11 %	16.61 %	12.26 %
Q2 2011	18.02 %	16.41 %	11.93 %
Q3 2011	17.73 %	16.01 %	11.70 %
Q4 2011	15.81 %	13.97 %	10.35 %
2011	15.81 %	13.97 %	10.35 %
Q1 2012	14.84 %	12.84 %	9.27 %
Q2 2012	13.16 %	11.16 %	7.57 %
Q3 2012	13.14 %	10.99 %	7.37 %
Q4 2012	13.49 %	11.08 %	7.39 %
2012	13.49 %	11.08 %	7.39 %
Q1 2013	13.90 %	11.20 %	7.62 %
Q2 2013	14.86 %	11.98 %	8.59 %
Q3 2013	15.51 %	12.68 %	9.25 %
Q4 2013	15.62 %	12.78 %	9.47 %
2013	15.62 %	12.78 %	9.47 %
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 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	21.15 %	19.03 %	16.20 %
2009	25.92 %	23.89 %	20.95 %
2010	18.29 %	16.59 %	12.30 %
2011	15.81 %	13.97 %	10.35 %
2012	13.49 %	11.08 %	7.39 %
2013	15.62 %	12.78 %	9.47 %
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 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	26.19 %	24.41 %	21.57 %
Q2 2009	27.66 %	26.09 %	24.68 %
Q3 2009	28.23 %	26.38 %	23.06 %
Q4 2009	20.32 %	17.11 %	12.36 %
Q1 2010	18.32 %	16.07 %	13.05 %
Q2 2010	19.54 %	17.90 %	14.90 %
Q3 2010	12.75 %	11.59 %	6.28 %
Q4 2010	20.47 %	18.84 %	12.72 %
Q1 2011	17.63 %	16.19 %	12.88 %
Q2 2011	19.34 %	17.27 %	13.87 %
Q3 2011	12.82 %	11.05 %	6.71 %
Q4 2011	13.37 %	11.29 %	7.76 %
Q1 2012	14.08 %	12.06 %	8.85 %
Q2 2012	12.20 %	10.15 %	6.61 %
Q3 2012	12.74 %	10.25 %	5.86 %
Q4 2012	14.77 %	11.62 %	7.84 %
Q1 2013	15.26 %	12.27 %	9.30 %
Q2 2013	15.84 %	13.01 %	10.08 %
Q3 2013	16.16 %	13.91 %	9.46 %
Q4 2013	15.26 %	12.02 %	8.80 %
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 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
Q1 2009	35.00	-	-	13.16
Q2 2009	35.00	-	-	14.04
Q3 2009	51.00	-	-	17.29
Q4 2009	51.00	2.21	2.21	17.55
Q1 2010	51.00	1.95	1.95	15.88
Q2 2010	51.00	1.74	1.74	16.33
Q3 2010	51.00	1.27	1.27	15.92
Q4 2010	51.00	1.43	1.43	16.31
Q1 2011	51.00	1.45	1.45	15.67
Q2 2011	51.00	1.37	1.37	16.03
Q3 2011	51.00	1.43	1.43	15.43
Q4 2011	51.00	1.28	1.28	15.55
Q1 2012	51.00	1.22	1.22	15.04
Q2 2012	51.00	1.05	1.05	15.24
Q3 2012	51.00	1.04	1.04	15.38
Q4 2012	51.00	1.05	1.05	15.56
Q1 2013	51.00	1.15	1.15	15.95
Q2 2013	51.00	1.40	1.40	15.66
Q3 2013	51.00	1.54	1.54	15.19
Q4 2013	51.00	1.56	1.56	15.39
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

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2008	35.00	3.78	3.78	12.20
2009	51.00	2.21	2.21	17.55
2010	51.00	1.43	1.43	16.31
2011	51.00	1.28	1.28	15.55
2012	51.00	1.05	1.05	15.56
2013	51.00	1.56	1.56	15.39
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

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Recurring P/E	Price/book
Q1 2009	-	-	-
Q2 2009	-	-	-
Q3 2009	-	-	1.80
Q4 2009	15.41	15.41	1.94
Q1 2010	16.96	16.96	2.08
Q2 2010	15.61	15.61	1.66
Q3 2010	19.09	19.09	1.53
Q4 2010	16.85	16.85	1.48
Q1 2011	16.10	16.10	1.49
Q2 2011	19.35	19.35	1.66
Q3 2011	16.49	16.49	1.53
Q4 2011	22.87	22.87	1.88
Q1 2012	23.04	23.04	1.87
Q2 2012	20.84	20.84	1.43
Q3 2012	23.10	23.10	1.56
Q4 2012	24.02	24.02	1.63
Q1 2013	22.49	22.49	1.62
Q2 2013	18.54	18.54	1.65
Q3 2013	19.45	19.45	1.97
Q4 2013	22.79	22.79	2.31
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

Period	P/E	Recurring P/E	Price/book
2008	-	-	-
2009	15.41	15.41	1.94
2010	16.85	16.85	1.48
2011	22.87	22.87	1.88
2012	24.02	24.02	1.63
2013	22.79	22.79	2.31
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

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

Period	Steele Pipes	Process equipment
2016	557.70	47.07
2017	616.74	79.68

Analysts Estimates (Million)

Item	Profit (Expected)	Profit (Actual)	Change
Average	5.00	(24.15)

Estimates vs Actual (Million)

Item	Profit (Expected)	Profit (Actual)	Change‬
SNB Capital	5.00	(24.15)

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Saudi Steel Pipe turns to net loss in 9M 2018

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Saudi Steel Pipe turns to net loss in 9M 2018

Financials (M)

Current Quarter Comparison (M)

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Share Price

Saudi Steel Pipe Co. (SSP)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

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