Arabian Pipes Co. — Interim / Quarterly Report 2024

May 12, 2024

Arabian Pipes Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )

2200 · 12/05/2024 08:01:04 · Announcement #79927 · View on Saudi Exchange

Arabian Pipes Co. announces its Interim Financial results for the Period Ending on 2024-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	308.74	214.68	43.814	302.67	2.005
Gross Profit (Loss)	95.26	28.67	232.263	68.91	38.238
Operational Profit (Loss)	64.21	13.91	361.61	48.89	31.335
Net profit (Loss)	54.79	11.49	376.849	40.69	34.652
Total Comprehensive Income	54.79	11.49	376.849	40.39	35.652
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (After Deducting the Minority Equity)	287.91	112.8	155.239
Profit (Loss) per Share	5.48	1.15
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Percentage of the capital (%)	Amount
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	Revenue increased to SAR 308.74 million for the first quarter of financial year 2024 (“Q1 2024”) from SAR 214.68 million for the first quarter of financial year 2023 (“Q1 2023”) as a result of the increased in sales volume.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Net profit of SAR 54.79 million for Q1 2024 compared to a net profit of SAR 11.49 million for Q1 2023 is due to gross profit increased to SAR 95.26 million in Q1 2024 from SAR 28.67 million in Q1 2023, as a result of the increase in volume mainly due to increase in sales volume, primarily attributed to the efficiency of production and supply during the first quarter. Additionally, the company has continued to improve production costs and financial expenses.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	Revenue increased to SAR 308.74 million for Q1 2024 from SAR 302.67 million for the fourth quarter of financial year 2023 (“Q4 2023”) mainly as a result of the increase in sales volume.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	Net profit of SAR 54.79 million for Q1 2024 compared to a net profit of SAR 40.69 million for fourth quarter (Q4 2023) is due to gross profit increased to SAR 95.26 million in Q1 2024 from SAR 68.91 million in fourth quarter (Q4 2023), as a result of the increase in volume mainly due to increase in sales volume, primarily attributed to the efficiency of production and supply during the first quarter. Additionally, the company has continued to improve production costs and financial expenses.
Statement of the type of external auditor's report	Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	Non
Reclassification of Comparison Items	Some of the comparative figures have been reclassified and adjusted
Additional Information	Attachment
Attached Documents

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