New Risk • May 17
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. 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 (currently running at an operating cash loss). Earnings have declined by 50% per year over the past 5 years. Minor Risk Market cap is less than US$100m (ر.س258.9m market cap, or US$69.0m). Reported Earnings • May 15
First quarter 2026 earnings released: ر.س0.29 loss per share (vs ر.س0.57 loss in 1Q 2025) First quarter 2026 results: ر.س0.29 loss per share (improved from ر.س0.57 loss in 1Q 2025). Revenue: ر.س15.5m (up 18% from 1Q 2025). Net loss: ر.س4.35m (loss narrowed 50% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 29% per year. Announcement • Apr 16
Saudi Vitrified Clay Pipe Company, Annual General Meeting, May 12, 2026 Saudi Vitrified Clay Pipe Company, Annual General Meeting, May 12, 2026, at 18:30 Arab Standard Time. Location: riyadh Saudi Arabia New Risk • Apr 09
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. 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 (currently running at an operating cash loss). Earnings have declined by 59% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (ر.س284.3m market cap, or US$75.7m). Reported Earnings • Apr 08
Full year 2025 earnings released: ر.س2.17 loss per share (vs ر.س7.23 loss in FY 2024) Full year 2025 results: ر.س2.17 loss per share (improved from ر.س7.23 loss in FY 2024). Revenue: ر.س68.3m (up 17% from FY 2024). Net loss: ر.س32.5m (loss narrowed 70% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Announcement • Apr 03
Saudi Vitrified Clay Pipe Company has filed a Follow-on Equity Offering in the amount of SAR 80 million. Saudi Vitrified Clay Pipe Company has filed a Follow-on Equity Offering in the amount of SAR 80 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: Rights Offering New Risk • Feb 04
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 Risk Earnings have declined by 68% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (ر.س336.0m market cap, or US$89.6m). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ر.س0.74 (vs ر.س3.82 loss in 3Q 2024) Third quarter 2025 results: EPS: ر.س0.74 (up from ر.س3.82 loss in 3Q 2024). Revenue: ر.س16.7m (up 1.5% from 3Q 2024). Net income: ر.س11.1m (up ر.س68.4m from 3Q 2024). Profit margin: 66% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 48 percentage points per year, which is a significant difference in performance. New Risk • Nov 11
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ر.س370.4m (US$98.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 76% per year over the past 5 years. Minor Risk Market cap is less than US$100m (ر.س370.4m market cap, or US$98.8m). Reported Earnings • Aug 19
Second quarter 2025 earnings released: ر.س0.76 loss per share (vs ر.س0.93 loss in 2Q 2024) Second quarter 2025 results: ر.س0.76 loss per share (improved from ر.س0.93 loss in 2Q 2024). Revenue: ر.س14.8m (up 53% from 2Q 2024). Net loss: ر.س11.5m (loss narrowed 18% from 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • May 22
First quarter 2025 earnings released: ر.س0.58 loss per share (vs ر.س0.43 loss in 1Q 2024) First quarter 2025 results: ر.س0.58 loss per share. Revenue: ر.س13.1m (down 12% from 1Q 2024). Net income: ر.س8.63m (up ر.س15.1m from 1Q 2024). Profit margin: 66% (up from net loss in 1Q 2024). Announcement • Apr 17
Saudi Vitrified Clay Pipe Company, Annual General Meeting, May 20, 2025 Saudi Vitrified Clay Pipe Company, Annual General Meeting, May 20, 2025, at 19:30 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • Apr 08
Full year 2024 earnings released: ر.س7.23 loss per share (vs ر.س3.93 loss in FY 2023) Full year 2024 results: ر.س7.23 loss per share (further deteriorated from ر.س3.93 loss in FY 2023). Revenue: ر.س58.5m (down 23% from FY 2023). Net loss: ر.س108.4m (loss widened 84% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Board Change • Mar 19
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 7 experienced directors. No highly experienced directors. 2 independent directors (6 non-independent directors). Vice Chairman & MD Saad AL Sayari was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 31
Saudi Vitrified Clay Pipe Company, Annual General Meeting, Jun 24, 2024 Saudi Vitrified Clay Pipe Company, Annual General Meeting, Jun 24, 2024, at 19:00 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • Nov 04
Third quarter 2023 earnings released: ر.س0.24 loss per share (vs ر.س0.066 loss in 3Q 2022) Third quarter 2023 results: ر.س0.24 loss per share (further deteriorated from ر.س0.066 loss in 3Q 2022). Revenue: ر.س21.7m (up 8.1% from 3Q 2022). Net loss: ر.س3.64m (loss widened 266% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Announcement • Oct 20
Saudi Vitrified Clay Pipe Company Announces Board Appointments Saudi Vitrified Clay Pipe Company (SVCP) has appointed Prince Faisal bin Abdulaziz bin Faisal Al Saud as the Chairman of the board for the next three years. The firm also named Saad Saud Al Sayari as the Vice Chairman and Managing Director. The two officials assumed their roles for a new board term that began on 18 October 2023 and will remain in position until 17 October 2026. Reported Earnings • Aug 04
Second quarter 2023 earnings released: ر.س0.033 loss per share (vs ر.س0.70 loss in 2Q 2022) Second quarter 2023 results: ر.س0.033 loss per share (improved from ر.س0.70 loss in 2Q 2022). Revenue: ر.س18.8m (up 47% from 2Q 2022). Net loss: ر.س496.0k (loss narrowed 95% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 117 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
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 Suliman Aldakheel was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Third quarter 2022 earnings released: ر.س0.066 loss per share (vs ر.س0.12 loss in 3Q 2021) Third quarter 2022 results: ر.س0.066 loss per share (improved from ر.س0.12 loss in 3Q 2021). Revenue: ر.س20.1m (flat on 3Q 2021). Net loss: ر.س995.0k (loss narrowed 44% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 15
Second quarter 2022 earnings released: ر.س0.70 loss per share (vs ر.س0.096 loss in 2Q 2021) Second quarter 2022 results: ر.س0.70 loss per share (down from ر.س0.096 loss in 2Q 2021). Revenue: ر.س12.8m (down 44% from 2Q 2021). Net loss: ر.س10.5m (loss widened ر.س9.05m from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • May 17
First quarter 2022 earnings released: EPS: ر.س0.085 (vs ر.س0.015 in 1Q 2021) First quarter 2022 results: EPS: ر.س0.085 (up from ر.س0.015 in 1Q 2021). Revenue: ر.س18.5m (down 25% from 1Q 2021). Net income: ر.س1.28m (up 457% from 1Q 2021). Profit margin: 6.9% (up from 0.9% in 1Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. 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 Suliman Aldakheel was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 15
Saudi Vitrified Clay Pipe Announces Board Changes Saudi Vitrified Clay Pipe co. at the AGM held on April 13, 2022 approved on the Board of Directors decision to appoint Eng. Suliman Ali Aldakheel as (independent) member of the Board of Directors to complete the Board's term from the date of his appointment on December 26, 2021 until the end of the current term on October 17, 2023 to succeed the resigning member Dr. Mulhim Hamad Ali Al-Mulhim (independent). Reported Earnings • Mar 09
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: ر.س0.14 loss per share (down from ر.س0.71 profit in FY 2020). Revenue: ر.س88.7m (down 28% from FY 2020). Net loss: ر.س2.06m (down 119% from profit in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Oct 30
Third quarter 2021 earnings released: ر.س0.12 loss per share (vs ر.س0.06 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ر.س20.2m (down 28% from 3Q 2020). Net loss: ر.س1.76m (down 295% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 27
Second quarter 2021 earnings released: ر.س0.096 loss per share (vs ر.س0.19 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: ر.س22.7m (down 19% from 2Q 2020). Net loss: ر.س1.43m (down 150% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 09
First quarter 2021 earnings released: EPS ر.س0.015 (vs ر.س0.36 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ر.س24.8m (down 39% from 1Q 2020). Net income: ر.س228.0k (down 96% from 1Q 2020). Profit margin: 0.9% (down from 13% in 1Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Mar 12
Saudi Vitrified Clay Pipe co., Annual General Meeting, Apr 05, 2021 Saudi Vitrified Clay Pipe co., Annual General Meeting, Apr 05, 2021, at 19:00 Arabian Standard Time. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS ر.س0.71 (vs ر.س0.58 in FY 2019) The company reported a solid full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: ر.س123.4m (flat on FY 2019). Net income: ر.س10.7m (up 22% from FY 2019). Profit margin: 8.7% (up from 7.2% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 15
New 90-day high: ر.س128 The company is up 113% from its price of ر.س60.00 on 17 November 2020. The Saudi market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 18% over the same period. Is New 90 Day High Low • Jan 29
New 90-day high: ر.س109 The company is up 118% from its price of ر.س49.90 on 29 October 2020. The Saudi market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 29% over the same period. Is New 90 Day High Low • Dec 10
New 90-day high: ر.س74.00 The company is up 29% from its price of ر.س57.20 on 10 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 Basic Materials industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Nov 25
Market bids up stock over the past week After last week's 15% share price gain to ر.س68.60, the stock is trading at a trailing P/E ratio of 72.1x, up from the previous P/E ratio of 62.4x. This compares to an average P/E of 18x in the Basic Materials industry in Saudi Arabia. Total returns to shareholders over the past three years are 44%. Is New 90 Day High Low • Nov 24
New 90-day high: ر.س65.30 The company is up 33% from its price of ر.س49.25 on 26 August 2020. The Saudi market is up 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 11% over the same period. Valuation Update With 7 Day Price Move • Oct 30
Market pulls back on stock over the past week After last week's 15% share price decline to ر.س49.90, the stock is trading at a trailing P/E ratio of 52.5x, down from the previous P/E ratio of 62x. This compares to an average P/E of 18x in the Basic Materials industry in Saudi Arabia. Total returns to shareholders over the past three years are 16%. Reported Earnings • Oct 22
Third quarter earnings released Over the last 12 months the company has reported total profits of ر.س14.3m, up 268% from the prior year. Total revenue was ر.س137.3m over the last 12 months, up 25% from the prior year. Is New 90 Day High Low • Oct 08
New 90-day high: ر.س61.90 The company is up 39% from its price of ر.س44.45 on 09 July 2020. The Saudi market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 19% over the same period.