Arabian Pipes Co. reported a net profit after Zakat and tax of SAR 28.7 million for the fiscal year 2019, against a net loss of SAR 122.7 million a year earlier.
The annual results were backed by a 6% rise year-on-year (YoY) in sales revenue, continuous production in Riyadh and Jubail plants, and the completion of delayed projects.
The company also kept steel prices unchanged, and upgraded its systems to fulfill Saudi Aramco’s demand.
| Item | 2018 | 2019 | Change |
|---|---|---|---|
| Revenues | 698.31 | 741.09 | 6.1 % |
| Gross Income | (50.26) | 96.47 | 292.0 % |
| Operating Income | (82.33) | 62.66 | 176.1 % |
| Net Income | (122.70) | 30.25 | 124.7 % |
| Average Shares | 10.00 | 10.00 | - |
| EPS (Riyals) | (12.27) | 3.02 | 124.7 % |
In Q4 2019, the company turned to a net profit of SAR 3.3 million against a net loss of SAR 89 million in year-earlier period.
| Item | Q4 2018 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 224.44 | 159.18 | (29.1 %) |
| Gross Income | (62.21) | 20.67 | 133.2 % |
| Operating Income | (71.92) | 15.72 | 121.9 % |
| Net Income | (89.05) | 4.88 | 105.5 % |
| Average Shares | 10.00 | 10.00 | - |
| EPS (Riyals) | (8.90) | 0.49 | 105.5 % |
| Item | Q3 2019 | Q4 2019 | Change |
|---|---|---|---|
| Revenues | 210.35 | 159.18 | (24.3 %) |
| Gross Income | 28.35 | 20.67 | (27.1 %) |
| Operating Income | 20.54 | 15.72 | (23.4 %) |
| Net Income | 9.19 | 4.88 | (46.9 %) |
| Average Shares | 10.00 | 10.00 | - |
| EPS (Riyals) | 0.92 | 0.49 | (46.9 %) |
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