GROUP FIVE

Group Five Pipe Saudi Ltd.

9523StocksTadawulMaterials

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (SAR)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	2.03B	0.98B	0.46B	0.23B	0.64B
Cost of Revenue	1.65B	0.87B	0.40B	0.23B	0.58B
Gross Profit	381.93M	107.85M	57.40M	2.18M	61.26M
SG&A	42.41M	20.87M	14.16M	14.55M	10.04M
Operating Expenses	168.88M	19.67M	15.88M	16.56M	7.12M
Operating Income	213.06M	88.18M	41.52M	-14.38M	54.13M
Interest Income	—	13.51M	19.27M	21.68M	15.09M
Interest Expense	-50.69M	-60.83M	-48.85M	-33.90M	-31.04M
Other Income/Expense	—	—	-0.59M	2.40M	-0.80M
Pretax Income	162.36M	40.86M	11.35M	-24.20M	37.38M
Income Tax	17.52M	2.34M	1.98M	0.18M	2.26M
Net Income	144.84M	38.52M	9.37M	-24.38M	35.11M
EBITDA	234.07M	108.91M	62.22M	6.15M	74.53M
EBIT	213.06M	88.18M	41.52M	-14.38M	54.13M
EPS (Basic)	5.17	1.38	0.33	-0.87	1.25
EPS (Diluted)	5.17	1.38	0.33	-0.87	1.25
DPS	—	0.50	—	—	—
Margins & Efficiency
Gross Margin %	+18.8%	+11.0%	+12.6%	+0.9%	+9.6%
EBITDA Margin %	+11.5%	+11.2%	+13.7%	+2.7%	+11.6%
Net Margin %	+7.1%	+3.9%	+2.1%	-10.6%	+5.5%
Revenue & Income
Revenue	2.03B	0.98B	0.46B	0.23B	0.64B
Revenue Growth (YoY)	+107.8%	+114.5%	+97.5%	-64.0%	-30.0%
Interest & Investment Income	—	13.51M	19.27M	21.68M	15.09M
Expenses & Provisions
Cost of Revenue	1.65B	0.87B	0.40B	0.23B	0.58B
Selling, General & Admin	42.41M	20.87M	14.16M	14.55M	10.04M
Operating Expenses	168.88M	19.67M	15.88M	16.56M	7.12M
Other Operating Expenses	-0.96M	-1.64M	-0.54M	-0.00M	—
Interest Expense	-50.69M	-60.83M	-48.85M	-33.90M	-31.04M
Other Non Operating Income (Expenses)	—	—	-0.59M	2.40M	-0.80M
D&A For EBITDA	21.02M	20.73M	20.69M	20.53M	20.39M
Profitability & Returns
Gross Profit	381.93M	107.85M	57.40M	2.18M	61.26M
Gross Margin	+18.8%	+11.0%	+12.6%	+0.9%	+9.6%
EBIT	213.06M	88.18M	41.52M	-14.38M	54.13M
EBIT Margin	+10.5%	+9.0%	+9.1%	-6.2%	+8.4%
EBITDA	234.07M	108.91M	62.22M	6.15M	74.53M
EBITDA Margin	+11.5%	+11.2%	+13.7%	+2.7%	+11.6%
Pretax Income	162.36M	40.86M	11.35M	-24.20M	37.38M
Operating Income	213.06M	88.18M	41.52M	-14.38M	54.13M
Operating Margin	+10.5%	+9.0%	+9.1%	-6.2%	+8.4%
Profit Margin	+7.1%	+3.9%	+2.1%	-10.6%	+5.5%
Net Income	144.84M	38.52M	9.37M	-24.38M	35.11M
Net Income to Common	144.84M	38.52M	9.37M	-24.38M	35.11M
Net Income Growth	+276.0%	+310.9%	—	—	-58.0%
Income Tax Expense	17.52M	2.34M	1.98M	0.18M	2.26M
Effective Tax Rate	+10.8%	+5.7%	+17.4%	—	+6.1%
Per Share & Capital
EPS (Basic)	5.17	1.38	0.33	-0.87	1.25
EPS (Diluted)	5.17	1.38	0.33	-0.87	1.25
EPS Growth	+276.0%	+310.9%	—	—	-58.0%
Dividend Per Share	—	0.50	—	—	—
Shares Outstanding (Basic)	28.00M	28.00M	28.00M	28.00M	28.00M
Shares Outstanding (Diluted)	28.00M	28.00M	28.00M	28.00M	28.00M
Free Cash Flow	296.23M	74.50M	22.85M	101.90M	-0.19M
Free Cash Flow Margin	+14.6%	+7.6%	+5.0%	+44.2%	0.0%
Free Cash Flow Per Share	10.58	2.66	0.82	3.64	-0.01
Payout Ratio	+9.7%	—	—	—	—

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (SAR)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	2.03B	0.98B	0.46B	0.23B	0.64B
Cost of Revenue	1.65B	0.87B	0.40B	0.23B	0.58B
Gross Profit	381.93M	107.85M	57.40M	2.18M	61.26M
SG&A	42.41M	20.87M	14.16M	14.55M	10.04M
Operating Expenses	168.88M	19.67M	15.88M	16.56M	7.12M
Operating Income	213.06M	88.18M	41.52M	-14.38M	54.13M
Interest Income	—	13.51M	19.27M	21.68M	15.09M
Interest Expense	-50.69M	-60.83M	-48.85M	-33.90M	-31.04M
Other Income/Expense	—	—	-0.59M	2.40M	-0.80M
Pretax Income	162.36M	40.86M	11.35M	-24.20M	37.38M
Income Tax	17.52M	2.34M	1.98M	0.18M	2.26M
Net Income	144.84M	38.52M	9.37M	-24.38M	35.11M
EBITDA	234.07M	108.91M	62.22M	6.15M	74.53M
EBIT	213.06M	88.18M	41.52M	-14.38M	54.13M
EPS (Basic)	5.17	1.38	0.33	-0.87	1.25
EPS (Diluted)	5.17	1.38	0.33	-0.87	1.25
DPS	—	0.50	—	—	—
Margins & Efficiency
Gross Margin %	+18.8%	+11.0%	+12.6%	+0.9%	+9.6%
EBITDA Margin %	+11.5%	+11.2%	+13.7%	+2.7%	+11.6%
Net Margin %	+7.1%	+3.9%	+2.1%	-10.6%	+5.5%
Revenue & Income
Revenue	2.03B	0.98B	0.46B	0.23B	0.64B
Revenue Growth (YoY)	+107.8%	+114.5%	+97.5%	-64.0%	-30.0%
Interest & Investment Income	—	13.51M	19.27M	21.68M	15.09M
Expenses & Provisions
Cost of Revenue	1.65B	0.87B	0.40B	0.23B	0.58B
Selling, General & Admin	42.41M	20.87M	14.16M	14.55M	10.04M
Operating Expenses	168.88M	19.67M	15.88M	16.56M	7.12M
Other Operating Expenses	-0.96M	-1.64M	-0.54M	-0.00M	—
Interest Expense	-50.69M	-60.83M	-48.85M	-33.90M	-31.04M
Other Non Operating Income (Expenses)	—	—	-0.59M	2.40M	-0.80M
D&A For EBITDA	21.02M	20.73M	20.69M	20.53M	20.39M
Profitability & Returns
Gross Profit	381.93M	107.85M	57.40M	2.18M	61.26M
Gross Margin	+18.8%	+11.0%	+12.6%	+0.9%	+9.6%
EBIT	213.06M	88.18M	41.52M	-14.38M	54.13M
EBIT Margin	+10.5%	+9.0%	+9.1%	-6.2%	+8.4%
EBITDA	234.07M	108.91M	62.22M	6.15M	74.53M
EBITDA Margin	+11.5%	+11.2%	+13.7%	+2.7%	+11.6%
Pretax Income	162.36M	40.86M	11.35M	-24.20M	37.38M
Operating Income	213.06M	88.18M	41.52M	-14.38M	54.13M
Operating Margin	+10.5%	+9.0%	+9.1%	-6.2%	+8.4%
Profit Margin	+7.1%	+3.9%	+2.1%	-10.6%	+5.5%
Net Income	144.84M	38.52M	9.37M	-24.38M	35.11M
Net Income to Common	144.84M	38.52M	9.37M	-24.38M	35.11M
Net Income Growth	+276.0%	+310.9%	—	—	-58.0%
Income Tax Expense	17.52M	2.34M	1.98M	0.18M	2.26M
Effective Tax Rate	+10.8%	+5.7%	+17.4%	—	+6.1%
Per Share & Capital
EPS (Basic)	5.17	1.38	0.33	-0.87	1.25
EPS (Diluted)	5.17	1.38	0.33	-0.87	1.25
EPS Growth	+276.0%	+310.9%	—	—	-58.0%
Dividend Per Share	—	0.50	—	—	—
Shares Outstanding (Basic)	28.00M	28.00M	28.00M	28.00M	28.00M
Shares Outstanding (Diluted)	28.00M	28.00M	28.00M	28.00M	28.00M
Free Cash Flow	296.23M	74.50M	22.85M	101.90M	-0.19M
Free Cash Flow Margin	+14.6%	+7.6%	+5.0%	+44.2%	0.0%
Free Cash Flow Per Share	10.58	2.66	0.82	3.64	-0.01
Payout Ratio	+9.7%	—	—	—	—