Upcoming Dividend • Jun 21
Upcoming dividend of ر.س0.75 per share Eligible shareholders must have bought the stock before 28 June 2026. Payment date: 07 July 2026. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Saudi dividend payers (6.0%). Lower than average of industry peers (2.5%). Price Target Changed • Jun 19
Price target increased by 9.6% to ر.س59.20 Up from ر.س54.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of ر.س56.90. Stock is up 18% over the past year. The company is forecast to post earnings per share of ر.س2.74 for next year compared to ر.س3.79 last year. Announcement • Jun 05
Saudi Steel Pipes Company, Annual General Meeting, Jun 25, 2026 Saudi Steel Pipes Company, Annual General Meeting, Jun 25, 2026, at 18:30 Arab Standard Time. Location: dammam Saudi Arabia New Risk • May 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Saudi stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Major Estimate Revision • May 23
Consensus EPS estimates increase by 20% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has improved. 2026 revenue forecast increased from ر.س1.36b to ر.س1.44b. EPS estimate increased from ر.س2.29 to ر.س2.74 per share. Net income forecast to shrink 29% next year vs 44% growth forecast for Metals and Mining industry in Saudi Arabia . Consensus price target up from ر.س52.23 to ر.س54.00. Share price was steady at ر.س54.50 over the past week. Reported Earnings • May 19
First quarter 2026 earnings released: EPS: ر.س1.04 (vs ر.س0.99 in 1Q 2025) First quarter 2026 results: EPS: ر.س1.04 (up from ر.س0.99 in 1Q 2025). Revenue: ر.س385.3m (down 15% from 1Q 2025). Net income: ر.س52.3m (up 4.1% from 1Q 2025). Profit margin: 14% (up from 11% in 1Q 2025). Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Metals and Mining industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ر.س60.40, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 15x in the Metals and Mining industry in Asia. Total returns to shareholders of 165% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ر.س31.00 per share. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ر.س44.18, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Metals and Mining industry in Asia. Total returns to shareholders of 128% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ر.س32.14 per share. New Risk • Mar 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 18% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Major Estimate Revision • Mar 08
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ر.س1.50b to ر.س1.36b. EPS estimate also fell from ر.س3.44 per share to ر.س2.29 per share. Net income forecast to shrink 56% next year vs 37% growth forecast for Metals and Mining industry in Saudi Arabia . Consensus price target down from ر.س52.97 to ر.س50.87. Share price rose 6.7% to ر.س38.72 over the past week. Reported Earnings • Mar 05
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ر.س3.79 (up from ر.س3.57 in FY 2024). Revenue: ر.س1.41b (down 13% from FY 2024). Net income: ر.س263.1m (up 46% from FY 2024). Profit margin: 19% (up from 11% in FY 2024). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Metals and Mining industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 23% per year. New Risk • Mar 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 19% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. New Risk • Nov 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.2% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: ر.س0.001 (vs ر.س0.99 in 3Q 2024) Third quarter 2025 results: EPS: ر.س0.001 (down from ر.س0.99 in 3Q 2024). Revenue: ر.س240.7k (down 100% from 3Q 2024). Net income: ر.س36.0k (down 100% from 3Q 2024). Profit margin: 15% (up from 13% in 3Q 2024). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Metals and Mining industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 31% per year. Price Target Changed • Nov 10
Price target decreased by 13% to ر.س50.97 Down from ر.س58.27, the current price target is an average from 3 analysts. New target price is 5.5% above last closing price of ر.س48.30. Stock is down 31% over the past year. The company is forecast to post earnings per share of ر.س3.25 for next year compared to ر.س3.57 last year. New Risk • Aug 12
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Aug 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.0% to ر.س51.40. The fair value is estimated to be ر.س64.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Earnings per share has grown by 47%. Revenue is forecast to grow by 25% in 2 years. Earnings are forecast to grow by 10% in the next 2 years. Price Target Changed • Aug 08
Price target decreased by 14% to ر.س56.70 Down from ر.س66.30, the current price target is an average from 2 analysts. New target price is 9.1% above last closing price of ر.س51.95. Stock is down 17% over the past year. The company is forecast to post earnings per share of ر.س4.08 for next year compared to ر.س3.57 last year. Buy Or Sell Opportunity • Jul 15
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at ر.س56.10. The fair value is estimated to be ر.س70.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has grown by 59%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. New Risk • Jun 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Saudi stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Jun 15
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to ر.س49.70. The fair value is estimated to be ر.س63.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 42% over the last 3 years. Earnings per share has grown by 59%. Revenue is forecast to grow by 26% in 2 years. Earnings are forecast to grow by 35% in the next 2 years. Upcoming Dividend • May 28
Upcoming dividend of ر.س3.95 per share Eligible shareholders must have bought the stock before 04 June 2025. Payment date: 22 June 2025. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.2%. Lower than top quartile of Saudi dividend payers (5.3%). Lower than average of industry peers (2.7%). Announcement • May 14
Saudi Steel Pipes Company, Annual General Meeting, Jun 03, 2025 Saudi Steel Pipes Company, Annual General Meeting, Jun 03, 2025, at 18:30 Arab Standard Time. Location: dammam Saudi Arabia Reported Earnings • May 13
First quarter 2025 earnings released: EPS: ر.س0.99 (vs ر.س1.11 in 1Q 2024) First quarter 2025 results: EPS: ر.س0.99 (down from ر.س1.11 in 1Q 2024). Revenue: ر.س453.9m (down 12% from 1Q 2024). Net income: ر.س50.3m (down 10% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Metals and Mining industry in Asia. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ر.س51.80, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Metals and Mining industry in Asia. Total returns to shareholders of 119% over the past three years. New Risk • Apr 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Saudi stocks, typically moving 5.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ر.س1.02 (vs ر.س1.68 in 2Q 2023) Second quarter 2024 results: EPS: ر.س1.02 (down from ر.س1.68 in 2Q 2023). Revenue: ر.س472.4m (up 31% from 2Q 2023). Net income: ر.س51.7m (down 39% from 2Q 2023). Profit margin: 11% (down from 23% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Metals and Mining industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 19
Upcoming dividend of ر.س0.74 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 07 July 2024. The company last paid an ordinary dividend in July 2013. The average dividend yield among industry peers is 2.7%. Upcoming Dividend • Jun 18
Upcoming dividend of ر.س0.74 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 07 July 2024. The company last paid an ordinary dividend in July 2013. The average dividend yield among industry peers is 2.7%. Announcement • Jun 05
Saudi Steel Pipes Company, Annual General Meeting, Jun 24, 2024 Saudi Steel Pipes Company, Annual General Meeting, Jun 24, 2024, at 19:30 Arab Standard Time. Location: dammam Saudi Arabia Reported Earnings • May 07
First quarter 2024 earnings released: EPS: ر.س1.11 (vs ر.س0.13 in 1Q 2023) First quarter 2024 results: EPS: ر.س1.11 (up from ر.س0.13 in 1Q 2023). Revenue: ر.س514.9m (up 209% from 1Q 2023). Net income: ر.س76.3m (up ر.س69.9m from 1Q 2023). Profit margin: 15% (up from 3.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Saudi Arabia are expected to grow by 6.8%. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 41% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س82.80, the stock trades at a trailing P/E ratio of 24.2x. Average forward P/E is 14x in the Metals and Mining industry in Saudi Arabia. Total returns to shareholders of 179% over the past three years. Reported Earnings • Mar 05
Full year 2023 earnings released: EPS: ر.س3.43 (vs ر.س1.09 in FY 2022) Full year 2023 results: EPS: ر.س3.43 (up from ر.س1.09 in FY 2022). Revenue: ر.س1.33b (up 79% from FY 2022). Net income: ر.س173.3m (up 216% from FY 2022). Profit margin: 13% (up from 7.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 6.5% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in Asia are expected to grow by 9.4%. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ر.س49.50, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 12x in the Metals and Mining industry in Asia. Total returns to shareholders of 62% over the past three years. Buy Or Sell Opportunity • Feb 20
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 9.2% to ر.س37.30. The fair value is estimated to be ر.س30.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to decline by 6.8% in the next 2 years. Buy Or Sell Opportunity • Feb 04
Now 22% overvalued Over the last 90 days, the stock has fallen 1.9% to ر.س34.10. The fair value is estimated to be ر.س27.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 18% in 2 years. Earnings are forecast to decline by 6.8% in the next 2 years. New Risk • Nov 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.2% per year for the foreseeable future. Minor Risks High level of debt (68% net debt to equity). Share price has been volatile over the past 3 months (6.6% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: ر.س0.49 (vs ر.س0.33 in 3Q 2022) Third quarter 2023 results: EPS: ر.س0.49 (up from ر.س0.33 in 3Q 2022). Revenue: ر.س317.5m (up 55% from 3Q 2022). Net income: ر.س25.0m (up 49% from 3Q 2022). Profit margin: 7.9% (down from 8.2% in 3Q 2022). Revenue is expected to decline by 3.6% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Asia are expected to grow by 3.9%. Over the last 3 years on average, earnings per share has increased by 121% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ر.س39.05, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 12x in the Metals and Mining industry in Asia. Total returns to shareholders of 88% over the past three years. New Risk • Aug 15
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 16% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (5.7% operating cash flow to total debt). Earnings are forecast to decline by an average of 16% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results. Price Target Changed • Aug 14
Price target increased by 21% to ر.س25.40 Up from ر.س21.00, the current price target is provided by 1 analyst. New target price is 19% below last closing price of ر.س31.35. Stock is up 37% over the past year. The company is forecast to post earnings per share of ر.س0.76 for next year compared to ر.س1.09 last year. New Risk • Aug 14
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 5.7% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (5.7% operating cash flow to total debt). Earnings are forecast to decline by an average of 28% per year for the foreseeable future. Reported Earnings • Aug 13
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: ر.س361.4m (up 71% from 2Q 2022). Net income: ر.س84.7m (up ر.س72.2m from 2Q 2022). Profit margin: 23% (up from 5.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Asia are expected to grow by 7.4%. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ر.س30.20, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 13x in the Metals and Mining industry in Asia. Total returns to shareholders of 76% over the past three years. Announcement • Dec 08
Saudi Steel Pipes Company (SASE:1320) agreed to acquire additional 35% stake in Global Pipe Company from EEW Holding GmbH & Co. KG for $9.9 million. Saudi Steel Pipes Company (SASE:1320) agreed to acquire additional 35% stake in Global Pipe Company from EEW Holding GmbH & Co. KG for $9.9 million on December 7, 2022. Transaction is subject to satisfaction of customary closing conditions, including the General Authority for Competition’s (GAC) approval and receipt of requisite bank consents. Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: ر.س0.33 (vs ر.س0.065 loss in 3Q 2021) Third quarter 2022 results: EPS: ر.س0.33 (up from ر.س0.065 loss in 3Q 2021). Revenue: ر.س204.8m (up 146% from 3Q 2021). Net income: ر.س16.8m (up ر.س20.0m from 3Q 2021). Profit margin: 8.2% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is expected to decline by 3.7% p.a. on average during the next 3 years, while revenues in the Metals and Mining industry in Asia are expected to grow by 6.4%. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director Maged Mohammed Al-Dakheel was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 16
Second quarter 2022 earnings released: EPS: ر.س0.25 (vs ر.س0.14 loss in 2Q 2021) Second quarter 2022 results: EPS: ر.س0.25 (up from ر.س0.14 loss in 2Q 2021). Revenue: ر.س211.8m (up 139% from 2Q 2021). Net income: ر.س12.4m (up ر.س19.4m from 2Q 2021). Profit margin: 5.9% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Jun 09
Saudi Steel Pipes Company Announces Executive Appointments Saudi Steel Pipe Company has appointed Mohammed AbdulAziz AbdulRahman Al Shayea as Chairman. The company also named Carlos A. Ferreyra as Vice Chairman and renewed the term of Mariano Armengol Lamazares as Managing Director and CEO. Announcement • May 26
Saudi Steel Pipes Company Announces Management Appointments Saudi Steel Pipes Company announced that in its AGM held on 24th of May 2021, approved the election of Mohammed AbdulAziz AbdulRahman Al Shayea, Yves Walid and Yacob Chang election of the members of the Board of Directors for the next session starting from 7 June 2022 for a period of three years ending on 6 June 2025G and approved the formation of the Audit Committee for the new session, starting on 7 June 2022 and for a period of three years ending on 6 June 2025G, approve its tasks, work rules and the rewards of its members. and they are: Salman Ahmed Akbar, Maged Mohammed Abdullah Al Dakheel and Ruggero Signorelli Filippini. Reported Earnings • May 13
First quarter 2022 earnings released First quarter 2022 results: Revenue: ر.س184.1m (up 100% from 1Q 2021). Net income: ر.س14.4m (up ر.س24.0m from 1Q 2021). Profit margin: 7.8% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Maged Al-Dakheel was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 25
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ر.س0.36 loss per share (up from ر.س0.68 loss in FY 2020). Revenue: ر.س373.5m (down 27% from FY 2020). Net loss: ر.س18.0m (loss narrowed 48% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
Second quarter 2021 earnings released: ر.س0.14 loss per share (vs ر.س0.56 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: ر.س88.5m (up 52% from 2Q 2020). Net loss: ر.س6.98m (loss narrowed 75% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 10
First quarter 2021 earnings released: ر.س0.17 loss per share (vs ر.س0.35 loss in 1Q 2020) The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were weaker. First quarter 2021 results: Revenue: ر.س94.7m (down 23% from 1Q 2020). Net loss: ر.س8.48m (loss narrowed 52% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 14% per year. Reported Earnings • Mar 09
Full year 2020 earnings released: ر.س0.68 loss per share (vs ر.س0.53 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: ر.س508.5m (down 24% from FY 2019). Net loss: ر.س34.5m (loss widened 28% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 05
New 90-day high: ر.س31.80 The company is up 10.0% from its price of ر.س28.80 on 03 December 2020. The Saudi market is flat over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 20% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: ر.س29.25 The company is up 47% from its price of ر.س19.90 on 09 September 2020. The Saudi market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 6.0% over the same period. Is New 90 Day High Low • Nov 17
New 90-day high: ر.س25.40 The company is up 44% from its price of ر.س17.64 on 19 August 2020. The Saudi market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 1.0% over the same period. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS ر.س0.19 The company reported a decent third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2020 results: Revenue: ر.س156.5m (flat on 3Q 2019). Net income: ر.س9.58m (up ر.س23.7m from 3Q 2019). Profit margin: 6.1% (up from net loss in 3Q 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 13
New 90-day high: ر.س24.00 The company is up 39% from its price of ر.س17.26 on 15 July 2020. The Saudi market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 19% over the same period.