Announcement • May 01
Al Obeikan Glass Company, Annual General Meeting, Jun 07, 2026 Al Obeikan Glass Company, Annual General Meeting, Jun 07, 2026, at 19:15 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • Apr 07
Full year 2025 earnings released Full year 2025 results: Revenue: ر.س354.7m (up 8.4% from FY 2024). Net income: ر.س63.2m (up ر.س61.8m from FY 2024). Profit margin: 18% (up from 0.4% in FY 2024). The increase in margin was primarily driven by lower expenses. New Risk • Feb 18
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 5.4% 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 Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Dividend per share is over 33x cash flows per share. Earnings have declined by 46% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (5.4% average weekly change). Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: ر.س320 (vs ر.س0.32 in 3Q 2024) Third quarter 2025 results: EPS: ر.س320. Revenue: ر.س92.7m (up 5.5% from 3Q 2024). Net income: ر.س8.36m (down 18% from 3Q 2024). Profit margin: 9.0% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. New Risk • Aug 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 9x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.8% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 220% Dividend per share is over 25x cash flows per share. Earnings have declined by 43% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 9x increase in shares outstanding). Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 34% After last week's 34% share price gain to ر.س37.50, the stock trades at a trailing P/E ratio of 41.2x. Average trailing P/E is 23x in the Building industry in Saudi Arabia. Total loss to shareholders of 39% over the past three years. Buy Or Sell Opportunity • Jun 24
Now 22% overvalued Over the last 90 days, the stock has fallen 22% to ر.س29.75. The fair value is estimated to be ر.س24.42, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has declined by 57%. New Risk • Jun 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.7% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 220% Cash payout ratio: 462% Earnings have declined by 5.1% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Profit margins are more than 30% lower than last year (8.6% net profit margin). Announcement • May 08
Al Obeikan Glass Company, Annual General Meeting, May 28, 2025 Al Obeikan Glass Company, Annual General Meeting, May 28, 2025, at 19:15 Arab Standard Time. Location: riyadh Saudi Arabia Buy Or Sell Opportunity • Apr 26
Now 23% overvalued Over the last 90 days, the stock has fallen 36% to ر.س31.20. The fair value is estimated to be ر.س25.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has declined by 57%. Buy Or Sell Opportunity • Apr 10
Now 20% overvalued Over the last 90 days, the stock has fallen 35% to ر.س30.40. The fair value is estimated to be ر.س25.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has declined by 57%. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ر.س32.00, the stock trades at a trailing P/E ratio of 35.1x. Average trailing P/E is 21x in the Building industry in Saudi Arabia. Total loss to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ر.س41.50, the stock trades at a trailing P/E ratio of 45.6x. Average trailing P/E is 22x in the Building industry in Saudi Arabia. Total loss to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ر.س58.00, the stock trades at a trailing P/E ratio of 63.7x. Average trailing P/E is 22x in the Building industry in Saudi Arabia. Total returns to shareholders of 12% over the past year. New Risk • Dec 10
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 5.8% 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 Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 220% Cash payout ratio: 462% Earnings have declined by 5.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.8% average weekly change). Profit margins are more than 30% lower than last year (8.6% net profit margin). Reported Earnings • Dec 02
Third quarter 2024 earnings released: EPS: ر.س0.32 (vs ر.س0.55 in 3Q 2023) Third quarter 2024 results: EPS: ر.س0.32 (down from ر.س0.55 in 3Q 2023). Revenue: ر.س87.8m (down 6.4% from 3Q 2023). Net income: ر.س10.1m (down 43% from 3Q 2023). Profit margin: 12% (down from 19% in 3Q 2023). The decrease in margin was primarily driven by lower revenue. New Risk • Dec 02
New major risk - Revenue and earnings growth Earnings have declined by 5.1% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Dividend is not well covered by earnings and cash flows. Payout ratio: 217% Cash payout ratio: 462% Earnings have declined by 5.1% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (8.6% net profit margin). Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ر.س59.00, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 19x in the Building industry in Saudi Arabia. Total returns to shareholders of 4.6% over the past year. New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (23% net profit margin). Buy Or Sell Opportunity • May 21
Now 21% overvalued Over the last 90 days, the stock has fallen 2.3% to ر.س47.85. The fair value is estimated to be ر.س39.47, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 13%. Buy Or Sell Opportunity • Apr 16
Now 23% overvalued Over the last 90 days, the stock has fallen 8.7% to ر.س48.00. The fair value is estimated to be ر.س39.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 13%. Announcement • Apr 04
Al Obeikan Glass Company Approves Management Changes Al Obeikan Glass Company at its Ordinary General Assembly meeting held on March 31, 2024 approved appointment of Mr. Abdullah Muhammad AlHumaidhi as Deputy Chairman for the Board of Directors (Non-Executive Member). the company also approved Formation of Audit Committee as follows: 1- Mr. Abdulrahman Salah Alrashed (Charmin of the Committee -Independent Member) 2- Mr.Ahmed Abdulrahman Al Rabiah(Member from outside of the Board of directors) 3- Eng. Saeed Abdallah Al-Moeather (Member from outside of the Board of directors) 4- Mr. Abdulrahman Thunayan Althunayan(Member from outside of the Board of directors) Third: Formation of Nomination and Remuneration Committee as follows: 1- Mr. Abdulkarim Hamad Alnujaidi (Chairman of the Committee-Independent Member) 2- Mr. Omran Abdulrahman Al-Obeikan 3- Mr. Abdulrahman Nasser Alobaid 4- Mr. Abdallah Obaid Alharbi (Member from outside of the Board of directors) Fourth: Formation of Investment Committee as follows: 1- Eng. Abdullah Abdulrahman Al Obeikan (Chairman of the Committee -Non-Executive Member Board Member) 2- Abdulaziz Saleh Al-Rebdi 3- Mr. Abdullah Muhammad AlHumaidhi 4- Eng. Fayez Jameel Abdulrazzag (Member from outside of the Board of directors). Upcoming Dividend • Mar 19
Upcoming dividend of ر.س2.00 per share Eligible shareholders must have bought the stock before 26 March 2024. Payment date: 01 April 2024. Trailing yield: 4.1%. Lower than top quartile of Saudi dividend payers (4.4%). Higher than average of industry peers (3.2%). Announcement • Mar 11
Al Obeikan Glass Company, Annual General Meeting, Mar 31, 2024 Al Obeikan Glass Company, Annual General Meeting, Mar 31, 2024, at 19:00 Coordinated Universal Time. Location: Head Office - Riyadh- By Means of Modern Technology Riyadh Saudi Arabia Agenda: To Review and discussing the Board of Directors report for the fiscal year ending on 31/12/2023; To Review and discussing the company's financial statements for the fiscal year ending on 31/12/2023; To Vote on the auditor report on the Company's accounts for the fiscal year ending on 31/12/2023 after discussing it; to Vote absolve the members of the Board of Directors from liability for the fiscal year ending on 31/12/2023; to consider the Voting on delegating the Board of Directors to distribute interim dividends on a biannual or quarterly basis for the fiscal year 2024; to consider the Voting on the election of members of the Board of Directors from among the candidates for the next session begins, God willing, on 01/04/2024 and lasts for three years, ending on 31/3/2027; and to consider other matters if any. Announcement • Nov 28
Al Obeikan Glass Company announced that it expects to receive SAR 80 million in funding Al Obeikan Glass Company announced a private placement of common shares for the gross proceeds of SAR 80 million on November 26, 2023. The transaction has been approved by the shareholders of the company. The capital of the company will increase from SAR 240 million to SAR 320 million. New Risk • Oct 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 28% Last year net profit margin: 43% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Short dividend paying track record (1 year of continuous dividend payments). Profit margins are more than 30% lower than last year (28% net profit margin). Announcement • Jun 05
Obeikan Glass Company Announces CEO Changes Obeikan Glass Company announced the resignation of Fayez Jameel Abdulrazzaq from his position as the firm's CEO due to personal reasons. The board members accepted Abdulrazzaq's resignation on 31 May, yet it will be effective on 30 June 2023. Meanwhile, Ibrahim Mohammad Alhammad will succeed Abdulrazzaq, startin from 1 July. Alhammad has more than 25-year leadership experience in Saudi Basic Industries Corporation (SABIC), during which he served as the CEO of SABIC Morocco & West Africa from 2017 to 2022. The new official holds a master's degree from the Clarion University of Pennsylvania. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ر.س75.00, the stock trades at a trailing P/E ratio of 13.5x. Average trailing P/E is 18x in the Building industry in Saudi Arabia. Total returns to shareholders of 19% over the past year. Buying Opportunity • Feb 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.2%. The fair value is estimated to be ر.س113, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 59%. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Nov 03
Third quarter 2022 earnings released Third quarter 2022 results: EPS: ر.س2.05. Net income: ر.س49.3m (up ر.س49.3m from 3Q 2021). Announcement • Sep 07
Al Obeikan Glass Company Announces the Distribution of Cash Dividend for First Half of 2022, Payable on September 19, 2022 Al Obeikan Glass Company announced that the Board of Directors' decision to distribute cash dividends to shareholders for the first half of 2022. The Total amount distributed: SAR 48,000,000. Number of Shares Eligible for Dividends: 24,000,000 shares. The eligibility of dividends will be to the shareholders owning shares on the due date which is September12, 2022, and those who are registered in the company-s shareholders register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the eligibility date. Distribution Date is September 19, 2022. Reported Earnings • Aug 28
Second quarter 2022 earnings released Second quarter 2022 results: EPS: ر.س2.34. Net income: ر.س56.1m (up ر.س56.1m from 2Q 2021). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. No independent directors (3 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Mar 09
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: ر.س463.2m (up 77% from FY 2020). Net income: ر.س173.7m (up ر.س156.4m from FY 2020). Profit margin: 38% (up from 6.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Reported Earnings • Mar 09
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: ر.س463.2m (up 77% from FY 2020). Net income: ر.س173.7m (up ر.س156.4m from FY 2020). Profit margin: 38% (up from 6.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Announcement • Mar 07
Obeikan Glass Company Announces Resignation of Naji Omer Mohamed Tom as Audit Committee Member Obeikan Glass Company announced the resignation of Audit Committee Member, Mr. Naji Omer Mohamed Tom, from the membership of the Audit Committee (a member from outside the Board), which he submitted on March 2, 2022 corresponding to 29/07/1443 due to personal reasons. This resignation will take effect from March 6, 2022 corresponding to 03/08/1443. 
