Arabian Pipes Co. announces its Annual Financial results for the period ending on 2023-12-31

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1445/08/24     05/03/2024 09:53:06

Element ListCurrent YearPrevious Year%Change
Sales/Revenue 1,076.71479.05124.76
Gross Profit (Loss) 224.8530.03648.75
Operational Profit (Loss) 158.71-8.59-
Net profit (Loss) 132.11-10.49-
Total Comprehensive Income 131.81-10.14-
Total Share Holders Equity (After Deducting the Minority Equity) 233.12101.31130.1
Profit (Loss) per Share 13.21-1.05
All figures are in (Millions) Saudi Arabia, Riyals

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

Element ListExplanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year The reason for the increase in the company’s sales in 2023 to reach 1,076.7 million is due to the company obtaining new projects and delivering projects during the year.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is "The increase in the company's net profit is attributed to the following main reasons:

1-Continuously securing projects for the company's manufacturers to support production levels.

2-Improved efficiency and production in the company's factories during the past year.

3-The company's commitment to producing and delivering contracted projects during the past year.

4-The company's continued efforts to improve production costs as well as financial costs.

This led to an increase in net profit for the year 2023 compared to the previous year. The net profit for the fiscal year 2023 amounted to 132.1 million Saudi riyals, compared to a (loss) of (10.48) million Saudi riyals for the fiscal year 2022."

Statement of the type of external auditor's report Unmodified opinion
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 reorganized to align with the presentation in the current year.
Additional Information Attached
Attached Documents  

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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