Saudi Ceramics earns SAR 10.8M profits in 9M 2024, SAR 6M in Q3

28/10/2024 Argaam Exclusive

Saudi Ceramic Co. (Saudi Ceramics) swung to a net profit of SAR 10.8 million for the first nine months of 2024, against a net loss of SAR 120.6 million in the corresponding period of 2023.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 933.58 966.49 3.5 %
Gross Income 214.08 218.19 1.9 %
Operating Income 15.78 4.51 (71.4 %)
Net Income (120.56) 10.78 108.9 %
Average Shares 100.00 100.00 -
EPS (Riyals) (1.21) 0.11 108.9 %

The positive results were driven by a rise in net sales amid higher tile and heater sales. The company’s gross profit also increased, thanks to improved sales. Additionally, the nine-month period of 2023 included a provision of SAR 165 million for the fire that broke out in one of the company’s factories.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 311.65 344.57 10.6 %
Gross Income 60.75 73.24 20.6 %
Operating Income (7.31) (1.49) 79.6 %
Net Income (168.56) 6.03 103.6 %
Average Shares 100.00 100.00 -
EPS (Riyals) (1.69) 0.06 103.6 %

In Q3 2024, the tile producer turned to a net profit of SAR 6 million, from a net loss of SAR 168.5 million in the year-earlier period, thanks to improved net sales.

 

Saudi Ceramics also incurred a net loss of SAR 10.8 million in Q2 2024.

 

Total shareholders’ equity, after minority interest, dropped to SAR 1.50 billion as of Sept. 30, 2024, from SAR 1.59 billion a year earlier.

View More Financial Results

 

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Share Price

Saudi Ceramic Co.
35.55
1.25 3.64 %

Saudi Ceramic Co. (SAUDI CERAMICS)

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Financial Ratios
Current
Market Cap (M Riyal) 3,555.00
Enterprise Value (EV) (M) 4,301.54
Shares Outstanding ((M)) 100.00
EPS ( Riyal) (TTM) (0.79)
Book Value (BV) ( Riyal) 15.08
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.36
Return on Average Assets (%) (TTM) (2.63 )
Return on Average Equity (%) (TTM) (5.10 )
more


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 447.05 5.4 % 158.46 3.2 % 81.89 (7.4 %)
Q2 2015 444.31 1.5 % 162.61 6.9 % 86.00 9.0 %
Q3 2015 354.58 (8.1 %) 124.96 (5.2 %) 66.71 19.0 %
Q4 2015 412.03 10.1 % 135.95 7.5 % 51.48 (10.2 %)
Q1 2016 372.80 (16.6 %) 121.11 (23.6 %) 55.09 (32.7 %)
Q2 2016 347.85 (21.7 %) 109.01 (33.0 %) 37.27 (56.7 %)
Q3 2016 232.44 (34.4 %) 54.62 (56.3 %) (9.63) (114.4 %)
Q4 2016 350.43 (15.0 %) 73.09 (46.2 %) 6.28 (87.8 %)
Q1 2017 315.35 (15.4 %) 81.02 (33.1 %) 16.13 (70.7 %)
Q2 2017 274.69 (21.0 %) 65.29 (40.1 %) 2.89 (92.3 %)
Q3 2017 224.14 (3.6 %) 24.26 (55.6 %) (29.17) (203.0 %)
Q4 2017 325.55 (7.1 %) (2.30) (103.1 %) (63.23) (1106.2 %)
Q1 2018 256.48 (18.7 %) 22.39 (72.4 %) (37.80) (334.3 %)
Q2 2018 241.88 (11.9 %) 30.26 (53.7 %) (35.35) (1324.8 %)
Q3 2018 250.00 11.5 % 36.59 50.8 % (28.35) 2.8 %
Q4 2018 279.69 (14.1 %) 18.57 907.3 % (55.87) 11.6 %
Q1 2019 309.60 20.7 % 52.46 134.3 % (12.71) 66.4 %
Q2 2019 273.84 13.2 % 60.65 100.5 % (5.77) 83.7 %
Q3 2019 291.73 16.7 % 108.78 197.3 % 45.16 259.3 %
Q4 2019 359.91 28.7 % 104.68 463.8 % 33.71 160.3 %
Q1 2020 393.33 27.0 % 85.90 63.8 % 20.83 263.8 %
Q2 2020 382.00 39.5 % 102.50 69.0 % 29.99 620.2 %
Q3 2020 373.05 27.9 % 106.96 (1.7 %) 40.63 (10.0 %)
Q4 2020 367.69 2.2 % 96.57 (7.7 %) 35.19 4.4 %
Q1 2021 440.34 12.0 % 147.38 71.6 % 75.86 264.3 %
Q2 2021 356.06 (6.8 %) 137.05 33.7 % 68.52 128.5 %
Q3 2021 360.15 (3.5 %) 117.77 10.1 % 58.07 42.9 %
Q4 2021 378.23 2.9 % 126.06 30.5 % 51.83 47.3 %
Q1 2022 396.15 (10.0 %) 121.99 (17.2 %) 53.31 (29.7 %)
Q2 2022 338.83 (4.8 %) 105.55 (23.0 %) 35.75 (47.8 %)
Q3 2022 366.56 1.8 % 116.44 (1.1 %) 48.32 (16.8 %)
Q4 2022 383.42 1.4 % 108.37 (14.0 %) 47.37 (8.6 %)
Q1 2023 368.89 (6.9 %) 90.12 (26.1 %) 21.26 (60.1 %)
Q2 2023 253.05 (25.3 %) 63.21 (40.1 %) 1.82 (94.9 %)
Q3 2023 311.65 (15.0 %) 60.75 (47.8 %) (7.31) (115.1 %)
Q4 2023 381.29 (0.6 %) 23.25 (78.5 %) (36.58) (177.2 %)
Q1 2024 345.77 (6.3 %) 82.34 (8.6 %) 16.86 (20.7 %)
Q2 2024 276.15 9.1 % 62.61 (0.9 %) (10.85) (695.0 %)
Q3 2024 344.57 10.6 % 73.24 20.6 % (1.49) 79.6 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 84.27 (3.6 %) 0.84 - 84.27 0.84
Q2 2015 81.25 (3.4 %) 0.81 - 81.25 0.81
Q3 2015 62.65 (20.6 %) 0.63 11.48 51.17 0.51
Q4 2015 55.65 (7.0 %) 0.56 2.17 53.48 0.53
Q1 2016 47.68 (43.4 %) 0.48 - 47.68 0.48
Q2 2016 28.60 (64.8 %) 0.29 - 28.60 0.29
Q3 2016 (46.88) (174.8 %) (0.47) (25.00) (21.88) (0.22)
Q4 2016 (9.22) (116.6 %) (0.09) - (9.22) (0.09)
Q1 2017 11.47 (75.9 %) 0.11 5.42 6.04 0.06
Q2 2017 (5.84) (120.4 %) (0.06) - (5.84) (0.06)
Q3 2017 (39.91) 14.9 % (0.40) - (39.91) (0.40)
Q4 2017 (62.77) (581.2 %) (0.63) - (62.77) (0.63)
Q1 2018 (49.95) (535.5 %) (0.50) - (49.95) (0.50)
Q2 2018 (46.51) (696.0 %) (0.47) - (46.51) (0.47)
Q3 2018 (38.53) 3.5 % (0.39) - (38.53) (0.39)
Q4 2018 (79.59) (26.8 %) (0.80) - (79.59) (0.80)
Q1 2019 (25.05) 49.8 % (0.25) - (25.05) (0.25)
Q2 2019 (16.10) 65.4 % (0.16) - (16.10) (0.16)
Q3 2019 34.49 189.5 % 0.34 - 34.49 0.34
Q4 2019 13.81 117.4 % 0.14 - 13.81 0.14
Q1 2020 10.64 142.5 % 0.11 - 10.64 0.11
Q2 2020 6.56 140.7 % 0.07 - 6.56 0.07
Q3 2020 32.46 (5.9 %) 0.32 - 32.46 0.32
Q4 2020 28.04 103.0 % 0.28 - 28.04 0.28
Q1 2021 70.73 565.0 % 0.71 - 70.73 0.71
Q2 2021 63.33 865.2 % 0.63 - 63.33 0.63
Q3 2021 52.40 61.4 % 0.52 - 52.40 0.52
Q4 2021 47.11 68.0 % 0.47 - 47.11 0.47
Q1 2022 51.29 (27.5 %) 0.51 - 51.29 0.51
Q2 2022 37.97 (40.0 %) 0.38 - 37.97 0.38
Q3 2022 42.78 (18.4 %) 0.43 - 42.78 0.43
Q4 2022 41.88 (11.1 %) 0.42 - 41.88 0.42
Q1 2023 14.71 (71.3 %) 0.15 - 14.71 0.15
Q2 2023 33.29 (12.3 %) 0.33 44.91 (11.62) (0.12)
Q3 2023 (168.56) (494.1 %) (1.69) (152.77) (15.79) (0.16)
Q4 2023 (89.79) (314.4 %) (0.90) (75.27) (14.52) (0.15)
Q1 2024 15.57 5.8 % 0.16 - 15.57 0.16
Q2 2024 (10.82) (132.5 %) (0.11) - (10.82) (0.11)
Q3 2024 6.03 103.6 % 0.06 2.89 3.14 0.03

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 34.59 % 26.49 % 16.02 %
Q2 2015 35.09 % 26.86 % 15.93 %
Q3 2015 35.34 % 28.19 % 15.96 %
Q4 2015 35.10 % 27.32 % 16.30 %
Q1 2016 34.39 % 27.09 % 14.75 %
Q2 2016 33.02 % 25.77 % 12.17 %
Q3 2016 30.82 % 22.60 % 7.90 %
Q4 2016 27.45 % 20.51 % 3.47 %
Q1 2017 25.50 % 18.97 % 0.28 %
Q2 2017 23.36 % 17.91 % (2.63 %)
Q3 2017 20.92 % 17.01 % (4.20 %)
Q4 2017 14.76 % 11.65 % (8.99 %)
Q1 2018 10.14 % 7.13 % (14.66 %)
Q2 2018 7.12 % 3.45 % (19.00 %)
Q3 2018 8.10 % 3.31 % (18.41 %)
Q4 2018 10.49 % 4.62 % (20.87 %)
Q1 2019 12.75 % 7.34 % (17.54 %)
Q2 2019 15.12 % 10.13 % (14.31 %)
Q3 2019 20.82 % 10.86 % (7.47 %)
Q4 2019 26.44 % 15.68 % 0.58 %
Q1 2020 27.30 % 15.46 % 3.25 %
Q2 2020 28.16 % 15.38 % 4.59 %
Q3 2020 26.52 % 17.13 % 4.21 %
Q4 2020 25.85 % 17.09 % 5.13 %
Q1 2021 29.01 % 20.06 % 8.82 %
Q2 2021 31.74 % 22.90 % 12.66 %
Q3 2021 32.72 % 24.20 % 14.07 %
Q4 2021 34.42 % 25.07 % 15.22 %
Q1 2022 33.74 % 24.33 % 14.37 %
Q2 2022 31.99 % 22.40 % 12.81 %
Q3 2022 31.76 % 21.65 % 12.11 %
Q4 2022 30.46 % 21.30 % 11.71 %
Q1 2023 28.85 % 19.66 % 9.42 %
Q2 2023 27.56 % 18.53 % 6.40 %
Q3 2023 24.48 % 15.22 % 2.22 %
Q4 2023 18.05 % 9.02 % (2.07 %)
Q1 2024 17.77 % 8.73 % (2.04 %)
Q2 2024 17.41 % 7.57 % (1.94 %)
Q3 2024 17.91 % 7.91 % (0.49 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 100.00 3.07 2.63 17.99
Q2 2015 100.00 3.04 2.63 17.80
Q3 2015 100.00 2.88 2.59 18.42
Q4 2015 100.00 2.84 2.70 18.98
Q1 2016 100.00 2.47 2.34 19.46
Q2 2016 100.00 1.95 1.81 18.75
Q3 2016 100.00 0.85 1.08 18.28
Q4 2016 100.00 0.20 0.45 17.75
Q1 2017 100.00 (0.16) 0.04 18.33
Q2 2017 100.00 (0.50) (0.31) 17.77
Q3 2017 100.00 (0.43) (0.49) 17.39
Q4 2017 100.00 (0.97) (1.02) 16.30
Q1 2018 100.00 (1.58) (1.58) 15.79
Q2 2018 100.00 (1.99) (1.99) 15.33
Q3 2018 100.00 (1.98) (1.98) 14.94
Q4 2018 100.00 (2.15) (2.15) 14.16
Q1 2019 100.00 (1.90) (1.90) 13.91
Q2 2019 100.00 (1.59) (1.59) 13.72
Q3 2019 100.00 (0.86) (0.86) 13.98
Q4 2019 100.00 0.07 0.07 14.09
Q1 2020 100.00 0.43 0.43 14.20
Q2 2020 100.00 0.66 0.66 14.26
Q3 2020 100.00 0.63 0.63 14.59
Q4 2020 100.00 0.78 0.78 14.85
Q1 2021 100.00 1.38 1.38 15.64
Q2 2021 100.00 1.95 1.95 16.35
Q3 2021 100.00 2.15 2.15 16.26
Q4 2021 100.00 2.34 2.34 16.72
Q1 2022 100.00 2.14 2.14 16.64
Q2 2022 100.00 1.89 1.89 17.02
Q3 2022 100.00 1.79 1.79 17.05
Q4 2022 100.00 1.74 1.74 17.50
Q1 2023 100.00 1.37 1.37 17.27
Q2 2023 100.00 1.33 0.88 17.60
Q3 2023 100.00 (0.79) 0.29 15.92
Q4 2023 100.00 (2.10) (0.27) 15.05
Q1 2024 100.00 (2.09) (0.26) 15.20
Q2 2024 100.00 (2.54) (0.26) 15.09
Q3 2024 100.00 (0.79) (0.07) 15.08

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 12.65 14.75 2.16
Q2 2015 13.05 15.09 2.23
Q3 2015 10.18 11.34 1.59
Q4 2015 8.24 8.66 1.23
Q1 2016 7.71 8.16 0.98
Q2 2016 10.34 11.12 1.07
Q3 2016 15.77 12.43 0.73
Q4 2016 82.44 36.82 0.94
Q1 2017 NEG More than 100 0.79
Q2 2017 NEG NEG 0.83
Q3 2017 NEG NEG 0.76
Q4 2017 NEG NEG 0.82
Q1 2018 NEG NEG 0.75
Q2 2018 NEG NEG 0.80
Q3 2018 NEG NEG 0.69
Q4 2018 NEG NEG 0.82
Q1 2019 NEG NEG 0.87
Q2 2019 NEG NEG 0.88
Q3 2019 NEG NEG 1.09
Q4 2019 More than 100 More than 100 1.54
Q1 2020 32.84 32.84 0.99
Q2 2020 30.47 30.47 1.40
Q3 2020 41.61 41.61 1.81
Q4 2020 37.04 37.04 1.94
Q1 2021 24.25 24.25 2.14
Q2 2021 23.57 23.57 2.81
Q3 2021 23.32 23.32 3.08
Q4 2021 18.88 18.88 2.64
Q1 2022 19.73 19.73 2.54
Q2 2022 18.59 18.59 2.06
Q3 2022 17.49 17.49 1.84
Q4 2022 13.14 13.14 1.31
Q1 2023 18.30 18.30 1.46
Q2 2023 20.09 30.37 1.51
Q3 2023 NEG 77.88 1.43
Q4 2023 NEG NEG 1.47
Q1 2024 NEG NEG 1.75
Q2 2024 NEG NEG 1.95
Q3 2024 NEG NEG 2.16

Business Segments (Million)

Compared With The
Period Ceramic tile and sanitary ware sector Heaters sector Ceramic Pipes Company
Q1 2015 365.19 81.86 -
Q2 2015 358.31 86.00 -
Q3 2015 293.40 61.18 -
Q4 2015 307.83 104.20 -
Q1 2016 289.14 83.66 -
Q2 2016 279.81 68.04 -
Q3 2016 180.46 51.98 -
Q4 2016 245.75 104.68 -
Q1 2017 234.30 81.05 -
Q2 2017 210.46 64.23 -
Q3 2017 168.81 55.32 -
Q4 2017 222.02 103.53 -
Q1 2018 186.25 70.23 -
Q2 2018 196.18 45.70 -
Q3 2018 188.46 59.83 -
Q4 2018 206.96 70.31 2.42
Q1 2019 223.48 80.36 5.76
Q2 2019 213.56 54.51 5.78
Q3 2019 225.01 59.78 6.94
Q4 2019 247.44 100.91 11.56
Q1 2020 281.74 100.31 11.28
Q2 2020 301.69 72.87 7.44
Q3 2020 276.51 92.38 4.16
Q4 2020 262.93 98.71 6.05
Q1 2021 308.92 121.25 10.17
Q2 2021 273.62 73.49 8.95
Q3 2021 239.02 114.89 6.23
Q4 2021 323.19 51.27 3.77
Q1 2022 287.53 104.26 4.36
Q2 2022 271.75 62.84 4.24
Q3 2022 270.21 91.45 4.89
Q4 2022 237.58 140.35 5.49
Q1 2023 247.35 114.52 7.02
Q2 2023 186.16 61.43 5.45
Q3 2023 210.63 98.49 2.52
Q4 2023 222.60 156.77 1.92
Q1 2024 214.04 127.18 4.55
Q2 2024 223.44 48.70 4.01
Q3 2024 228.95 111.27 4.35

Analysts Estimates (Million)

Item Q3 2024 (e) Q3 2024 (a) Change‬
Average 5.50 6.03 9.65 %

Estimates vs Actual (Million)

Item Q3 2024 (e) Q3 2024 (a) Change
Hermes 14.00 6.03 (56.9) %
Al Rajhi Capital (3.00) 6.03 301.0 %

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