Group Five Pipe Saudi Co. announces its Annual Financial results for the period ending on 2023-12-31

Group Five Pipe Saudi Co. announces its Annual Financial results for the period ending on 2023-12-31

| Element List

|| Explanation

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| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year

|| The company recorded revenues of SAR 455 million during the fiscal year 2023, compared to revenues of SAR 230 million during the fiscal year 2022, registering an increase of 97.4%. This increase is attributed to the rise in sales volume and the average selling price per ton.

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| The reason of the increase (decrease) in the net profit during the current year compared to the last year is

|| The company achieved a net profit of SAR 9.37 million during the fiscal year 2023, compared to a net loss of SAR 24.2 million during the fiscal year 2022. This is primarily due to sales totaling SAR 455 million during the fiscal year 2023.

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| Statement of the type of external auditor's report

|| Unmodified opinion

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| 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)

|| Not applicable

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| Reclassification of Comparison Items

|| Not applicable

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| Additional Information

|| -

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