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Saudi Steel Pipe Co. Announces its Annual Consolidated Financial Results for the Period Ending on 31-12-2025
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,412 | 1,630 | -13.37 | ||
| Gross Profit (Loss) | 346 | 399 | -13.28 | ||
| Operational Profit (Loss) | 257 | 309 | -16.83 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 192 | 181 | 6.08 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 190 | 178 | 6.74 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 853 | 862 | -1.04 | ||
| Profit (Loss) per Share | 3.79 | 3.57 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Revenue decreased to SAR 1,412 million in the financial year ending 31 December 2025 (“FY 2025”) from SAR 1,630 million in the financial year ending 31 December 2024 (“FY 2024”) mainly as a result of the decrease in volume. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net Profit Attributable to Shareholders of the Company increased to SAR 192 million in FY 2025 compared to SAR 181 Mill in FY 2024 mainly due to the following reasons: a) Lands settlement compensation amounting to SAR 54 million recorded in FY 2025. b) The increase of other income in FY 2025 compared to FY 2024. c) The decrease of finance charges in FY 2025 compared to FY 2024 mainly as a result of the decrease in borrowings. The above listed positive effects were partially offset by: d) The decrease of gross profit in FY 2025 compared to FY 2024, mainly as a result of the decrease in volume. EBITDA represents earnings before interest, tax, depreciation, and amortization. SSP recorded a positive EBITDA of SAR 340 million in FY 2025, compared to SAR 388 million in FY 2024. As a result of the profitability recorded and the effective working capital management, SSP recorded a positive Free Cash Flow of SAR 325 million in FY 2025 (which excludes the aggregate Lands settlement amount) compared to a negative Free Cash Flow of SAR (5) million in FY 2024.
Net debt decreased to SAR 34 million as at the end of FY 2025 from SAR 363 million as at the end of FY 2024, despite the total dividends distributed in FY 2025 amounting to SAR 200 million. |
| 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) | - |
| Reclassification of Comparison Items | - |
| Additional Information | See attached document for the highlights. |
| 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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