Riyadh — Mubasher: Arabian Pipes Company posted 77.78% year-on-year (YoY) lower net profits at SAR 6.17 million for the third quarter (Q3) of 2026, compared to SAR 27.77 million.
The company attributed the downturn to lower sales volumes and increased shipping costs resulting from geopolitical events and global supply chain instability.
Quarterly revenue reached SAR 142.03 million, representing a 39.12% decrease compared to SAR 233.29 million in Q3-25. Operating profit fell by 61.11% to SAR 9.91 million.
For the nine-month period that ended on 30 September 2026, the net profits dropped by 65.55% to SAR 35.27 million from SAR 102.37 million a year earlier.
Despite the decline in earnings, the company’s backlog of existing contracts and projects rose by 43% to SAR 1.07 billion, compared to SAR 749 million in the prior year.
Management expects to fulfill these remaining performance obligations by the end of Q3-27. Total shareholders' equity grew by 1.70% to SAR 489.39 million.
Financial costs for the nine-month period decreased by 67% to SAR 8.54 million due to increased reliance on internal financing and successful debt management.
For the first half (H1) of 2026, net profit retreated by 60.98% to SAR 29.11 million, while total revenue reached SAR 354.41 million.
