Saudi Ceramics reports 9M 2026 profit of SAR 71.41M; SAR 28.7M in Q3

The profit decline was attributed to non-recurring items in the prior-year period, including a SAR 120 million insurance claim settlement and the recognition of SAR 7.7 million in Zakat differences, as well as a SAR 34.8 million increase in selling and marketing expenses due to higher transportation and logistics costs and the opening of new showrooms.

This came despite a 14% year-on-year (YoY) increase in sales to SAR 144 million, driven by higher sales volumes and average selling prices of tiles and electric water heaters.

Local sales rose 13.3% YoY to SAR 127 million, while export sales increased 22% YoY to SAR 18 million.

Gross profit margin improved to 32.1% from 26.6%, supported by greater production efficiency and cost-control initiatives, lifting gross profit by SAR 103.7 million.

Both periods included the net reversal of impairment losses related to the fire at the second sanitaryware plant and power station, amounting to SAR 3.1 million in the current period and SAR 3.5 million in the prior-year period.

Excluding the aforementioned non-recurring items, net profit increased by SAR 58.9 million year-on-year.

Third-quarter net profit soared 345% to SAR 28.75 million, up from SAR 6.47 million in Q3 2025. The increase was driven by a 16.4% rise in sales to SAR 58 million, supported by higher tile sales volumes, increased average selling prices of tiles and water heaters, and stronger porcelain sales.

Meanwhile, gross profit margin improved to 32% from 28.4% due to higher production efficiency, better capacity utilization, and cost-control initiatives.

Sequentially, Q3 2026 profit climbed 42% from SAR 20.24 million in Q2 2026, mainly due to a 9.6% increase in sales to SAR 36 million, driven by higher sales volumes of tiles and sanitaryware, despite lower electric water heater sales volumes due to seasonal factors, while average selling prices of water heaters increased.

Gross profit rose 5.8% YoY to SAR 7.3 million, supported by higher sales. Domestic sales were up 8%, while exports rose 27%.

Shareholders’ equity, excluding minority interest, stood at SAR 1.57 billion as of Sept. 30, 2026, up from SAR 1.55 billion in the year-earlier period.

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