Saudi Steel Pipe Company has reported a net profit of SAR 0.93 million (USD 247,843) for 2021 as compared to a net loss of SAR 34.48 million in 2020. The company posted SAR 373.5 million revenues in 2021, down 21.35% YoY from SAR 474.9 million in the 2020. Gross profit increased to SAR2 7.33 million in 2021 from SAR 19.14 million in FY 2020, mainly due to improvement in the industrial efficiency and reduction of production costs. Saudi Steel Pipe Company recorded a positive EBITDA of SAR 39.61 million in 2021Saudi Steel Pipe Company is a manufacturer of welded steel pipe in Saudi Arabia since its inception in 1980. Tenaris Saudi Steel Pipes is supplier of electrically resistance welded steel pipes for the energy, industrial, and construction segments of the Middle East and North Africa. Its facilities are located in the Second Industrial City of Dammam, in addition to a commercial office in Riyadh, and a service and distribution network covering more than 20 countries. It has raised production capacity to more than 400,000 tonnes of welded OCTG, Line Pipe and pipes for construction and industrial applications in 1/2 to 20 inches diameters & external Coating FBE, 3LPE, 3LPP
Saudi Steel Pipe Company has reported a net profit of SAR 0.93 million (USD 247,843) for 2021 as compared to a net loss of SAR 34.48 million in 2020. The company posted SAR 373.5 million revenues in 2021, down 21.35% YoY from SAR 474.9 million in the 2020. Gross profit increased to SAR2 7.33 million in 2021 from SAR 19.14 million in FY 2020, mainly due to improvement in the industrial efficiency and reduction of production costs. Saudi Steel Pipe Company recorded a positive EBITDA of SAR 39.61 million in 2021Saudi Steel Pipe Company is a manufacturer of welded steel pipe in Saudi Arabia since its inception in 1980. Tenaris Saudi Steel Pipes is supplier of electrically resistance welded steel pipes for the energy, industrial, and construction segments of the Middle East and North Africa. Its facilities are located in the Second Industrial City of Dammam, in addition to a commercial office in Riyadh, and a service and distribution network covering more than 20 countries. It has raised production capacity to more than 400,000 tonnes of welded OCTG, Line Pipe and pipes for construction and industrial applications in 1/2 to 20 inches diameters & external Coating FBE, 3LPE, 3LPP
