Saudi Steel Pipe Reports SAR 52M Net Profit in Three Months 2026
SSP 1320.SA | 0.00 |
On 2026-05-07 08:27:35 (Saudi Time), Saudi Steel Pipe Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 385 | 454 | -15.198 | 381 | 1.049 |
| Gross Profit (Loss) | 109 | 109 | - | 100 | 9 |
| Operational Profit (Loss) | 88 | 81 | 8.641 | 78 | 12.82 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 52 | 50 | 4 | 44 | 18.181 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 52 | 50 | 4 | 43 | 20.93 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 905 | 913 | -0.876 |
| Profit (Loss) per Share | 1.04 | 0.99 | |
| 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 | |||
Year-on-Year Performance Drivers
Sales declined 15.198% YoY to SAR 385 million from SAR 454 million, primarily due to decreased sales volume. Net profit increased 4% YoY to SAR 52 million from SAR 50 million, driven by reduced selling and distribution expenses from non-periodic charges in the prior year and lower finance charges due to decreased borrowings. These positive effects were partially offset by decreased other income and higher zakat and income tax expenses.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 1.049% to 385 million SAR due to improved product mix sold. Net profit rose 18.181% to 52 million SAR, driven by higher gross profit from the improved product mix and reduced finance charges from decreased borrowings.
Other Items
The auditor issued an unmodified conclusion with no additional comments or qualifications noted. No accumulated losses were reported, indicating the company maintains a positive retained earnings position. The company reported positive EBITDA of SAR 109 million and maintained a net cash position with net debt of negative SAR 29 million, indicating cash exceeds borrowings. Total shareholders' equity stood at SAR 905 million, representing a slight decrease of 0.876% from the prior year period.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95063&anCat=1&cs=1320&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/11355_376_2026-05-07_08-17-44_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.