Alwasail earns SAR 33.8.2M in 2025; Q4 at SAR 7.6M
Alwasail Industrial Co. reported a net profit of SAR 33.8 million in 2025, compared to SAR 39.1 million a year earlier.
Financials (Million Riyal)
| Item | 2024 | 2025 | Change |
|---|---|---|---|
| Revenues | 460.11 | 461.30 | 0.3 % |
| Gross Income | 123.66 | 115.84 | (6.3 %) |
| Operating Income | 39.54 | 41.33 | 4.5 % |
| Net Income | 39.14 | 33.78 | (13.7 %) |
| Average Shares | 250.00 | 250.00 | - |
| Earnings Per Share before unusual items (Riyals) | 0.12 | 0.13 | 10.8 % |
| EPS (Riyal) | 0.16 | 0.14 | (13.7 %) |
Revenues rose supported by a 1% increase in pipe sales and a 46% rise in other materials sales (recycling materials) during the current period.
However, earnings came under pressure due to a lower discount rate on raw material purchases following a decline in purchases from Saudi Basic Industries Corporation (SABIC).
The previous year included one-off capital gains of SAR 9.6 million from the sale of the company’s 100% stake in Shawcor Composite Pipe Systems Middle East Ltd.’s (Shawcor CPS) factory.
Current Quarter Comparison (Million Riyal)
| Item | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 134.29 | 135.94 | 1.2 % |
| Gross Income | 38.28 | 30.95 | (19.2 %) |
| Operating Income | 11.30 | 11.50 | 1.8 % |
| Net Income | 6.96 | 7.57 | 8.7 % |
| Average Shares | 250.00 | 250.00 | - |
| Earnings Per Share before unusual items (Riyal) | 0.03 | 0.03 | 8.7 % |
| EPS (Riyal) | 0.03 | 0.03 | 8.7 % |
Q4 2025 net earnings rose 8.7% to SAR 7.57 million, from SAR 6.96 million in the prior-year period.
On a sequential basis, net profit dropped 19.2% from SAR 9.37 million in Q3 2025.
Total shareholders’ equity, with no minority interest, stood at SAR 383.07 million by Dec. 31, 2025, compared to SAR 361.19 million a year earlier.
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Share Price
| Current | |
| Market Cap (M Riyal) | 630.00 |
| Enterprise Value (EV) (M Riyal) | 648.33 |
| Shares Outstanding ((M)) | 250.00 |
| Recurring EPS ( Riyal) (TTM) | 0.11 |
| Book Value (BV) ( Riyal) | 1.53 |
| Par Value ( Riyal) | 1.00 |
| Recurring P/E (TTM) | 23.65 |
| P/E (TTM) | 23.65 |
| Price/book | 1.64 |
| Dividend Yield (%) (Last Year) | 2.98 |
| Return on Average Assets (%) (TTM) | 5.1 |
| Return on Average Equity (%) (TTM) | 7.0 |
| EV/adj EBITDA | 12.62 |
| EV/Revenues | 1.53 |
Financial results (Million Riyal)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2025 | 107.10 | (3.0 %) | 30.90 | (11.2 %) | 15.35 | 0.7 % |
| Q2 2025 | 116.21 | 5.9 % | 24.54 | 0.5 % | 4.07 | 28.6 % |
| Q3 2025 | 102.05 | (3.6 %) | 29.74 | 12.1 % | 11.56 | 16.5 % |
| Q4 2025 | 135.94 | 1.2 % | 30.95 | (19.2 %) | 11.50 | 1.8 % |
| 2025 | 461.30 | 0.3 % | 115.84 | (6.3 %) | 41.33 | 4.5 % |
Profit Performance (Million Riyal)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2025 | 13.28 | (1.3 %) | 0.05 | - | 13.28 | 0.05 |
| Q2 2025 | 3.57 | (67.2 %) | 0.01 | 1.10 | 2.46 | 0.01 |
| Q3 2025 | 9.37 | 19.6 % | 0.04 | - | 9.37 | 0.04 |
| Q4 2025 | 7.57 | 8.7 % | 0.03 | - | 7.57 | 0.03 |
| 2025 | 33.78 | (13.7 %) | 0.14 | 1.10 | 32.68 | 0.13 |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2024 | - | - | - |
| Q2 2024 | - | - | - |
| Q3 2024 | - | - | - |
| Q4 2024 | 26.95 % | 11.42 % | 6.41 % |
| 2024 | 26.88 % | 11.41 % | 6.41 % |
| Q1 2025 | 26.29 % | 11.68 % | 6.41 % |
| Q2 2025 | 25.95 % | 11.65 % | 6.59 % |
| Q3 2025 | 26.86 % | 12.25 % | 6.98 % |
| Q4 2025 | 25.17 % | 12.08 % | 7.08 % |
| 2025 | 25.11 % | 11.83 % | 7.08 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2025 | 250.00 | 0.16 | 0.12 | 1.50 |
| Q2 2025 | 250.00 | 0.13 | 0.12 | 1.46 |
| Q3 2025 | 250.00 | 0.13 | 0.13 | 1.50 |
| Q4 2025 | 250.00 | 0.14 | 0.13 | 1.53 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2025 | 21.31 | 28.32 | 2.22 |
| Q2 2025 | 29.79 | 30.87 | 2.58 |
| Q3 2025 | 27.13 | 28.06 | 2.40 |
| Q4 2025 | 25.16 | 26.01 | 2.22 |
Business Segments (Million Riyal)
Q4 2025
| Period | Pipe Sales | Parts Sales | rubber sales | Imported goods sales | Electrical pipe sales | Others |
|---|---|---|---|---|---|---|
| Q1 2025 | 88.13 | 8.56 | 3.82 | 2.56 | 1.19 | 2.84 |
| Q2 2025 | 87.18 | 13.69 | 4.21 | 4.10 | 1.20 | 5.83 |
| Q3 2025 | 79.27 | 11.89 | 3.79 | 3.07 | 1.39 | 2.63 |
| Q4 2025 | 86.40 | 36.57 | 3.77 | 2.71 | 1.31 | 5.17 |
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