Group Five swings to SAR 24.4 mln loss in 2022

19/03/2023 Argaam Exclusive

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Share Price

Group Five Pipe Saudi Co.
39.10
0.00 0.00 %

Group Five Pipe Saudi Co. (GROUP FIVE)

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Group Five Pipe Saudi Ltd. turned to a net loss of SAR 24.4 million in 2022, against a net profit of SAR 35 million in 2021. 



Financials (M)

Item 2021 2022 Change‬
Revenues 641.10 230.54 (64.0 %)
Gross Income 61.31 2.17 (96.5 %)
Operating Income 54.13 (9.85) (118.2 %)
Net Income 35.12 (24.38) (169.4 %)
Average Shares 28.00 28.00 -
EPS (Riyals) 1.25 (0.87) (169.4 %)

The company attributed these losses to unfavorable market conditions, mainly the strong leaps in raw material prices, which weighed on the annual results. Group Five did not enter into any contracts in line with its production capacity.



Shareholders’ equity, no minority interest, decreased to SAR 313.27 million as of Dec. 31, 2022, from SAR 334.47 million a year earlier.

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