New Risk • May 14
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: 5.7% Last year net profit margin: 8.5% 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 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 (5.7% net profit margin). Reported Earnings • May 14
First quarter 2026 earnings released: EPS: ر.س0.02 (vs ر.س0.053 in 1Q 2025) First quarter 2026 results: EPS: ر.س0.02 (down from ر.س0.053 in 1Q 2025). Revenue: ر.س93.3m (down 13% from 1Q 2025). Net income: ر.س4.99m (down 62% from 1Q 2025). Profit margin: 5.3% (down from 12% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ر.س2.92, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 13x in the Building industry in Saudi Arabia. Total returns to shareholders of 53% over the past three years. Declared Dividend • Apr 11
Dividend of ر.س0.075 announced Shareholders will receive a dividend of ر.س0.075. Ex-date: 6th May 2026 Payment date: 1st January 1970 Dividend yield will be 2.7%, which is lower than the industry average of 3.3%. Sustainability & Growth Dividend is covered by earnings (56% earnings payout ratio) but not covered by cash flows (273% cash payout ratio). The dividend has increased by an average of 11% per year over the past 4 years. However, payments have been volatile during that time. Earnings per share has grown by 4.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 10
Alwasail Industrial Company, Annual General Meeting, May 05, 2026 Alwasail Industrial Company, Annual General Meeting, May 05, 2026, at 18:30 Arab Standard Time. Location: buraidah Saudi Arabia Reported Earnings • Mar 16
Full year 2025 earnings released: EPS: ر.س0.14 (vs ر.س0.16 in FY 2024) Full year 2025 results: EPS: ر.س0.14 (down from ر.س0.16 in FY 2024). Revenue: ر.س461.3m (flat on FY 2024). Net income: ر.س33.8m (down 14% from FY 2024). Profit margin: 7.3% (down from 8.5% in FY 2024). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 10
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 119% Dividend per share is over 37x cash flows per share. Dividend yield: 2.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Buy Or Sell Opportunity • Oct 05
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 4.0% to ر.س3.87. The fair value is estimated to be ر.س3.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.0% over the last year. Earnings per share has grown by 19%. New Risk • Aug 30
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended June 2024. This is considered a major 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. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported June 2024 fiscal period end). Minor Risk Large one-off items impacting financial results. Buy Or Sell Opportunity • Jun 26
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 14% to ر.س3.77. The fair value is estimated to be ر.س3.14, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 11%. Valuation Update With 7 Day Price Move • Jun 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ر.س3.70, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 22x in the Building industry in Saudi Arabia. Total returns to shareholders of 78% over the past three years. New Risk • Jun 13
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Saudi stocks, typically moving 7.7% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.7% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Large one-off items impacting financial results. New Risk • Apr 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Saudi stocks, typically moving 7.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.6% average weekly change). Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Large one-off items impacting financial results. Declared Dividend • Apr 10
First half dividend of ر.س0.05 announced Shareholders will receive a dividend of ر.س0.05. Ex-date: 29th April 2025 Payment date: 1st January 1970 Dividend yield will be 3.3%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 26% per year over the past 3 years and payments have been stable during that time. The company's earnings per share (EPS) would need to grow by 3.6% to bring the payout ratio under control, which is less than the 13% EPS growth achieved over the last 5 years. Announcement • Apr 08
Alwasail Industrial Company, Annual General Meeting, Apr 28, 2025 Alwasail Industrial Company, Annual General Meeting, Apr 28, 2025, at 18:30 Arab Standard Time. Location: buraidah Saudi Arabia Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ر.س2.82, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 21x in the Building industry in Saudi Arabia. Total loss to shareholders of 6.5% over the past three years. New Risk • Mar 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 93% Cash payout ratio: 142% Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (5.4% average weekly change). Large one-off items impacting financial results. Buy Or Sell Opportunity • Feb 27
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 35% to ر.س3.76. The fair value is estimated to be ر.س3.10, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 11%. Buy Or Sell Opportunity • Feb 13
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 38% to ر.س3.73. The fair value is estimated to be ر.س3.08, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 11%. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س3.59, the stock trades at a trailing P/E ratio of 22.3x. Average trailing P/E is 23x in the Building industry in Saudi Arabia. Total loss to shareholders of 8.2% over the past three years. Announcement • Jan 01
Alwasail Industrial Company Announces Board Appointments Alwasail Industrial Company has appointed Abdulrahman Abdullah Almushayqih as the Chairman of the board for a three-year term. The company also named Saleh Abdullah Almushekih as the Vice Chairman for the same duration. The two officials will remain in position for a new board session starting 22 December 2024 until 21 December 2027. meanwhile, the key leadership appointments followed the ordinary general assembly meeting on 25 November 2024. Buy Or Sell Opportunity • Nov 03
Now 21% undervalued Over the last 90 days, the stock has risen 2.0% to ر.س2.55. The fair value is estimated to be ر.س3.23, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 11%. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ر.س2.74, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 19x in the Building industry in Saudi Arabia. Total returns to shareholders of 47% over the past year. Valuation Update With 7 Day Price Move • Oct 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س2.37, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 18x in the Building industry in Saudi Arabia. Total returns to shareholders of 35% over the past year. New Risk • Sep 05
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 25% 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: Minor Risks Dividend is not well covered by cash flows (142% cash payout ratio). Large one-off items impacting financial results. Announcement • Apr 16
Alwasail Industrial Company, Annual General Meeting, May 05, 2024 Alwasail Industrial Company, Annual General Meeting, May 05, 2024, at 15:30 Coordinated Universal Time. Agenda: To Review the Board of Directors report for the financial year ending on 12/31/2023 AD and discussing it; to Vote on the company?s auditor?s report for the financial year ending on 12/31/2023 AD after discussing it; to Review the financial statements for the fiscal year ending on 12/31/2023 AD and discuss them; to Vote on the business and contracts concluded between the company and (Thaqib Plastic Company Limited), in which the member of the Board of Directors (Mr. Saleh bin Abdullah Al-Mushayqih); and to discuss other matters. New Risk • Mar 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 June 2023 fiscal period end). Dividend is not well covered by cash flows (165% cash payout ratio). New Risk • Dec 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Saudi stocks, typically moving 7.1% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.1% average weekly change). Minor Risk Dividend is not well covered by cash flows (165% cash payout ratio). Buying Opportunity • Nov 16
Now 46% undervalued after recent price drop Over the last 90 days, the stock is down 91%. The fair value is estimated to be ر.س3.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% over the last year. Earnings per share has grown by 4.8%. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س21.62, the stock trades at a trailing P/E ratio of 16.7x. Average trailing P/E is 14x in the Building industry in Saudi Arabia. Total loss to shareholders of 20% over the past year. Announcement • Dec 13
Alwasail Industrial Company Approves Appointment of Sulaiman Bin Saleh Al-Dakhil as Member of the Audit Committee Alwasail Industrial Company approved the decision to appoint Mr. Sulaiman bin Saleh Al-Dakhil, independent as a member of the Audit Committee, starting from 06-09-2022 AD until the end of the current committee work period on 12-22-2024 AD, in place of the previous committee member (Eng. Ahmed Abdullah Al-Rabadi, independent), provided that the appointment will take effect from the date of the recommendation decision issued on 06-09-2022 AD, and this appointment comes in accordance with the Audit Committee-s work regulations, at its General Assembly Meeting held on December 12, 2022. Announcement • Nov 22
Alwasail Industrial Company, Annual General Meeting, Dec 12, 2022 Alwasail Industrial Company, Annual General Meeting, Dec 12, 2022, at 15:30 Coordinated Universal Time. 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. 7 experienced directors. No highly experienced directors. No independent directors (7 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. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 17% share price gain to ر.س21.80, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 16x in the Building industry in Saudi Arabia. Reported Earnings • Sep 13
First half 2022 earnings released: EPS: ر.س0.65 (vs ر.س0.57 in 1H 2021) First half 2022 results: EPS: ر.س0.65 (up from ر.س0.57 in 1H 2021). Revenue: ر.س165.8m (up 18% from 1H 2021). Net income: ر.س16.2m (up 13% from 1H 2021). Profit margin: 9.8% (in line with 1H 2021). Announcement • Sep 09
Alwasail Industrial Company Announces Resignation of Eng. Ahmed Bin Abdullah Al-Rabdi as Chairman of the Audit Committee Al-Wasail Industrial Company announced the resignation of the Chairman of the audit committee, Eng. Ahmed bin Abdullah Al-Rabdi (non-executive board member), provided that the resignation will take effect as of September 6, 2022. Announcement • Jun 07
Alwasail Industrial Company (SASE:9525) completed the acquisition of Factory in Industrial Area of Ras Al Khaimah from Emirates Auction L.L.C. for AED 4.8 million. Alwasail Industrial Company (SASE:9525) acquired Factory in Industrial Area of Ras Al Khaimah from Emirates Auction L.L.C. for AED 4.8 million on June 2, 2022. The transaction was funded by the Alwasail Industrial Company's own resources. The factory was purchased by public auction to the Ras Al Khaimah Court.
Alwasail Industrial Company (SASE:9525) completed the acquisition of Factory in Industrial Area of Ras Al Khaimah from Emirates Auction L.L.C. on June 2, 2022. Announcement • May 12
Alwasail Industrial Company, Annual General Meeting, May 17, 2022 Alwasail Industrial Company, Annual General Meeting, May 17, 2022, at 18:30 Arab Standard Time. 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. 7 experienced directors. No highly experienced directors. No independent directors (7 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. Announcement • Apr 25
Alwasail Industrial Company Recommends to Distribute Cash Dividends for the Fiscal Year Ended December 31, 2021 The board of directorsof Alwasail Industrial Company recommended to distribute cash dividends in the amount of SAR 12,500,000 to shareholders for the fiscal year ended December 31, 2021, SAR 0.50 per share, which represents 5% of the total capital, provided that the eligibility is for the shareholders who own the shares at the end of trading day of the general assembly meeting for those registered in the company’s shareholders registing with the Securities Depository Center (Edaa) at the end of the second trading day following the due date, provided that the dividend distribution date will be announced later, at its AGM, to be held on May 17, 2022. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 17% share price gain to ر.س36.85, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 24x in the Building industry in Saudi Arabia. Board Change • Jan 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced 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: Insufficient board refreshment. 
