Saudi Vitrified Clay Pipes Co. (SVCP) slid into a deeper net loss of SAR 8.8 million in 2022, from SAR 2.1 million in 2021, hit by lower sales and higher cost of goods sold.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 88.72 | 76.35 | (13.9 %) |
| Gross Income | 21.50 | 4.42 | (79.5 %) |
| Operating Income | (1.08) | (19.62) | (1,723.3 %) |
| Net Income | (2.06) | (8.76) | (326.4 %) |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.14) | (0.58) | (326.4 %) |
In Q4 2022, SVCP posted a 54% rise in net profit to SAR 1.4 million, from SAR 910,000 in the prior-year period.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 21.11 | 24.96 | 18.2 % |
| Gross Income | 5.53 | 0.47 | (91.6 %) |
| Operating Income | 0.30 | (6.36) | (2245.3 %) |
| Net Income | 0.91 | 1.44 | 58.2 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | 0.06 | 0.10 | 58.2 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 20.10 | 24.96 | 24.2 % |
| Gross Income | 5.63 | 0.47 | (91.7 %) |
| Operating Income | (0.39) | (6.36) | (1,532.9 %) |
| Net Income | (1.00) | 1.44 | 244.8 % |
| Average Shares | 15.00 | 15.00 | - |
| EPS (Riyals) | (0.07) | 0.10 | 244.8 % |
The company incurred a net loss of SAR 1 million in Q3 2022.
Shareholders’ equity, no minority interest, came in at SAR 268.7 million as of Dec. 31, 2022, down from SAR 277 million a year earlier.
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