Financial Results : Saudi Ceramics 2024 losses shrink to SAR 79.3M; Q4 at SAR 88.5M

Saudi Ceramics 2024 losses shrink to SAR 79.3M; Q4 at SAR 88.5M

25/02/2025 Argaam Exclusive

View other reports

Saudi Ceramic Co.’s (Saudi Ceramics) net loss narrowed to SAR 79.3 million (before minority interest) in 2024, compared to a loss of SAR 237.5 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,314.87 1,348.80 2.6 %
Gross Income 237.32 253.74 6.9 %
Operating Income (270.54) (82.65) 69.5 %
Net Income (237.52) (79.25) 66.6 %
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) (0.54) (0.82) (51.0 %)
EPS (Riyals) (2.38) (0.79) 66.6 %

The company reported higher sales volumes in tile and sanitary ware sectors, despite lower average selling prices.

 

Saudi Ceramics allocated SAR 165 million provisions to address the impact of a fire incident at one of its factories. It also recognized impairment in subsidiary Ceramic Pipes Co. at SAR 78 million.

 

On the other hand, the company noted non-cash losses, including the impairment in property, plant, and equipment in the red bricks sector and Ceramic Pipes at SAR 51 million, in addition to inventory provisions at SAR 44 million.

 

Additionally, selling and distribution expenses increased this year due to rising transportation costs and higher fuel prices.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 381.29 382.31 0.3 %
Gross Income 23.25 35.55 52.9 %
Operating Income (258.36) (90.05) 65.1 %
Net Income (115.09) (88.50) 23.1 %
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) (0.40) (0.88) (122.2 %)
EPS (Riyals) (1.15) (0.88) 23.1 %
Saudi Ceramics incurred a net loss of SAR 88.5 million in Q4 2024 compared to SAR 115.09 million a year ago.
On a sequential basis, the company swung to losses from SAR 5.77 million earnings in Q3 2024.
Total shareholders’ equity, after minority interest, stood at SAR 1.42 billion by Dec. 31, 2024, compared to SAR 1.50 billion a year earlier.

View More Financial Results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Quarterly Actuals vs Estimates 25/02/2025

more

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.