SVCP swings to net loss of SAR 1.2 mln in H1 2021

25/07/2021 Argaam Exclusive

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Share Price

Saudi Vitrified Clay Pipes Co. (SVCP)

Saudi Vitrified Clay Pipes Co. (SVCP) swung to net loss after Zakat and tax of SAR 1.2 million in the first half of 2021, from a profit of SAR 8.3 million in the year-ago period, due to a decrease in sales.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Revenues	68.58	47.42	(30.9 %)
Gross Income	23.39	11.54	(50.6 %)
Operating Income	9.73	0.15	(98.4 %)
Net Income	8.27	(1.21)	(114.6 %)
Average Shares	15.00	15.00	-
EPS (Riyals)	0.55	(0.08)	(114.6 %)

In Q2 2021, the firm reported a net loss after Zakat and tax of SAR 1.4 million versus a profit of SAR 2.9 million in Q2 2020, due to a decrease in sales.

On a quarterly basis, the company turned to a net loss from a net profit of SAR 230,000 in Q1 2021, on lower sales.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2020	Q2 2021	Change‬
Revenues	28.03	22.66	(19.2 %)
Gross Income	10.04	4.41	(56.1 %)
Operating Income	3.63	(0.79)	(121.7 %)
Net Income	2.86	(1.43)	(150.2 %)
Average Shares	15.00	15.00	-
EPS (Riyals)	0.19	(0.10)	(150.2 %)

Item	Q1 2021	Q2 2021	Change‬
Revenues	24.75	22.66	(8.5 %)
Gross Income	7.13	4.41	(38.2 %)
Operating Income	0.94	(0.79)	(183.9 %)
Net Income	0.23	(1.43)	(726.2 %)
Average Shares	15.00	15.00	-
EPS (Riyals)	0.02	(0.10)	(726.2 %)

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2012	72.31	14.4 %	26.60	2.5 %	19.07	(0.2 %)	1.27
Q2 2012	82.51	21.0 %	28.99	(5.7 %)	21.84	(9.5 %)	1.46
Q3 2012	73.69	18.1 %	29.51	11.6 %	22.79	17.2 %	1.52
Q4 2012	83.08	22.7 %	31.45	21.8 %	23.74	18.2 %	1.58
2012	311.58	19.2 %	116.55	7.0 %	87.44	5.6 %	5.83
Q1 2013	78.65	8.8 %	29.40	10.5 %	22.09	15.8 %	1.47
Q2 2013	77.44	(6.1 %)	26.40	(8.9 %)	20.27	(7.2 %)	1.35
Q3 2013	67.12	(8.9 %)	24.33	(17.6 %)	17.54	(23.0 %)	1.17
Q4 2013	80.20	(3.5 %)	29.94	(4.8 %)	24.52	3.3 %	1.63
2013	303.42	(2.6 %)	110.07	(5.6 %)	84.43	(3.4 %)	5.63
Q1 2014	75.65	(3.8 %)	30.35	3.2 %	22.69	2.7 %	1.51
Q2 2014	87.35	12.8 %	34.47	30.6 %	27.87	37.5 %	1.86
Q3 2014	88.15	31.3 %	33.22	36.6 %	26.00	48.2 %	1.73
Q4 2014	91.59	14.2 %	36.81	22.9 %	24.02	(2.0 %)	1.60
2014	342.74	13.0 %	134.85	22.5 %	100.58	19.1 %	6.71
Q1 2015	92.76	22.6 %	36.87	21.5 %	21.96	(3.2 %)	1.46
Q2 2015	95.45	9.3 %	43.78	27.0 %	32.80	17.7 %	2.19
Q3 2015	90.56	2.7 %	42.29	27.3 %	21.71	(16.5 %)	1.45
Q4 2015	111.54	21.8 %	42.14	14.5 %	26.76	11.4 %	1.78
2015	390.30	13.9 %	165.08	22.4 %	103.22	2.6 %	6.88
Q1 2016	104.08	12.2 %	44.08	19.5 %	33.63	53.1 %	2.24
Q2 2016	78.16	(18.1 %)	33.90	(22.6 %)	23.90	(27.1 %)	1.59
Q3 2016	58.01	(35.9 %)	20.69	(51.1 %)	12.14	(44.1 %)	0.81
Q4 2016	53.37	(52.2 %)	15.18	(64.0 %)	3.59	(86.6 %)	0.24
2016	293.61	(24.8 %)	113.84	(31.0 %)	73.25	(29.0 %)	4.88
Q1 2017	53.83	(48.3 %)	19.65	(55.4 %)	11.96	(64.4 %)	0.80
Q2 2017	53.58	(31.5 %)	25.35	(25.2 %)	16.05	(32.8 %)	1.07
Q3 2017	24.40	(57.9 %)	6.36	(69.2 %)	1.34	(88.9 %)	0.09
Q4 2017	32.55	(39.0 %)	5.09	(66.5 %)	(0.39)	(111.0 %)	(0.03)
2017	164.36	(44.0 %)	56.45	(50.4 %)	28.95	(60.5 %)	1.93
Q1 2018	31.84	(40.8 %)	7.93	(59.7 %)	1.78	(85.1 %)	0.12
Q2 2018	28.98	(45.9 %)	6.34	(75.0 %)	0.88	(94.5 %)	0.06
Q3 2018	29.45	20.7 %	7.59	19.3 %	1.59	18.3 %	0.11
Q4 2018	27.69	(14.9 %)	3.90	(23.4 %)	0.14	135.5 %	0.01
2018	117.96	(28.2 %)	25.76	(54.4 %)	4.39	(84.8 %)	0.29
Q1 2019	30.13	(5.4 %)	8.26	4.3 %	1.60	(10.1 %)	0.11
Q2 2019	23.53	(18.8 %)	7.33	15.6 %	0.61	(30.1 %)	0.04
Q3 2019	28.36	(3.7 %)	7.85	3.4 %	1.45	(8.6 %)	0.10
Q4 2019	40.60	46.6 %	14.65	275.9 %	5.10	3542.9 %	0.34
2019	122.62	3.9 %	38.10	47.9 %	8.78	100.1 %	0.59
Q1 2020	40.55	34.6 %	13.35	61.6 %	5.41	237.7 %	0.36
Q2 2020	28.03	19.1 %	10.04	36.8 %	2.86	365.1 %	0.19
Q3 2020	28.09	(1.0 %)	8.00	1.9 %	0.91	(37.6 %)	0.06
Q4 2020	26.70	(34.2 %)	8.59	(41.4 %)	1.50	(70.6 %)	0.10
2020	123.37	0.6 %	39.97	4.9 %	10.68	21.6 %	0.71
Q1 2021	24.75	(38.9 %)	7.13	(46.6 %)	0.23	(95.8 %)	0.02
Q2 2021	22.66	(19.2 %)	4.41	(56.1 %)	(1.43)	(150.2 %)	(0.10)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2011	261.45	6.9 %	108.96	14.0 %	82.77	8.3 %	5.52
2012	311.58	19.2 %	116.55	7.0 %	87.44	5.6 %	5.83
2013	303.42	(2.6 %)	110.07	(5.6 %)	84.43	(3.4 %)	5.63
2014	342.74	13.0 %	134.85	22.5 %	100.58	19.1 %	6.71
2015	390.30	13.9 %	165.08	22.4 %	103.22	2.6 %	6.88
2016	293.61	(24.8 %)	113.84	(31.0 %)	73.25	(29.0 %)	4.88
2017	164.36	(44.0 %)	56.45	(50.4 %)	28.95	(60.5 %)	1.93
2018	117.96	(28.2 %)	25.76	(54.4 %)	4.39	(84.8 %)	0.29
2019	122.62	3.9 %	38.10	47.9 %	8.78	100.1 %	0.59
2020	123.37	0.6 %	39.97	4.9 %	10.68	21.6 %	0.71

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	40.51 %	38.80 %	30.58 %
Q2 2012	37.85 %	36.02 %	28.24 %
Q3 2012	37.45 %	35.66 %	28.29 %
Q4 2012	37.41 %	35.42 %	28.06 %
2012	37.41 %	35.42 %	28.06 %
Q1 2013	37.54 %	35.58 %	28.45 %
Q2 2013	37.32 %	35.33 %	28.41 %
Q3 2013	36.43 %	34.49 %	27.31 %
Q4 2013	36.28 %	34.75 %	27.82 %
2013	36.28 %	34.75 %	27.82 %
Q1 2014	36.96 %	35.23 %	28.30 %
Q2 2014	38.38 %	36.89 %	29.85 %
Q3 2014	38.62 %	37.06 %	30.51 %
Q4 2014	39.34 %	37.06 %	29.35 %
2014	39.34 %	37.06 %	29.35 %
Q1 2015	39.29 %	37.21 %	27.75 %
Q2 2015	40.95 %	38.13 %	28.48 %
Q3 2015	43.13 %	39.64 %	27.13 %
Q4 2015	42.30 %	38.33 %	26.45 %
2015	42.29 %	38.33 %	26.45 %
Q1 2016	42.90 %	37.45 %	28.61 %
Q2 2016	42.26 %	36.82 %	27.58 %
Q3 2016	40.03 %	34.57 %	27.41 %
Q4 2016	38.77 %	31.96 %	24.95 %
2016	38.77 %	31.96 %	24.95 %
Q1 2017	36.74 %	30.24 %	21.19 %
Q2 2017	36.96 %	29.40 %	19.99 %
Q3 2017	35.93 %	27.59 %	17.78 %
Q4 2017	34.35 %	27.33 %	17.62 %
2017	34.35 %	27.33 %	17.62 %
Q1 2018	31.42 %	24.73 %	13.19 %
Q2 2018	21.84 %	15.99 %	3.06 %
Q3 2018	21.94 %	16.43 %	3.14 %
Q4 2018	21.83 %	18.45 %	3.72 %
2018	21.83 %	18.45 %	3.72 %
Q1 2019	22.45 %	18.43 %	3.62 %
Q2 2019	24.44 %	19.05 %	3.56 %
Q3 2019	24.92 %	18.51 %	3.47 %
Q4 2019	31.07 %	21.42 %	7.15 %
2019	31.07 %	21.42 %	7.16 %
Q1 2020	32.46 %	22.47 %	9.45 %
Q2 2020	33.36 %	23.35 %	10.78 %
Q3 2020	33.54 %	23.41 %	10.40 %
Q4 2020	32.40 %	21.89 %	8.65 %
2020	32.40 %	21.89 %	8.65 %
Q1 2021	31.38 %	20.24 %	5.10 %
Q2 2021	27.52 %	16.91 %	1.17 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2011	41.67 %	40.02 %	31.66 %
2012	37.41 %	35.42 %	28.06 %
2013	36.28 %	34.75 %	27.82 %
2014	39.34 %	37.06 %	29.35 %
2015	42.29 %	38.33 %	26.45 %
2016	38.77 %	31.96 %	24.95 %
2017	34.35 %	27.33 %	17.62 %
2018	21.83 %	18.45 %	3.72 %
2019	31.07 %	21.42 %	7.16 %
2020	32.40 %	21.89 %	8.65 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2012	36.79 %	35.17 %	26.37 %
Q2 2012	35.13 %	33.10 %	26.47 %
Q3 2012	40.05 %	37.98 %	30.93 %
Q4 2012	37.86 %	35.68 %	28.58 %
Q1 2013	37.38 %	35.85 %	28.08 %
Q2 2013	34.10 %	31.91 %	26.18 %
Q3 2013	36.24 %	34.41 %	26.14 %
Q4 2013	37.33 %	36.70 %	30.58 %
Q1 2014	40.12 %	37.81 %	29.99 %
Q2 2014	39.47 %	38.18 %	31.91 %
Q3 2014	37.68 %	35.63 %	29.49 %
Q4 2014	40.19 %	36.76 %	26.23 %
Q1 2015	39.75 %	38.23 %	23.67 %
Q2 2015	45.86 %	41.67 %	34.36 %
Q3 2015	46.70 %	41.85 %	23.97 %
Q4 2015	37.78 %	32.69 %	24.00 %
Q1 2016	42.35 %	34.86 %	32.31 %
Q2 2016	43.37 %	39.51 %	30.57 %
Q3 2016	35.66 %	30.99 %	20.93 %
Q4 2016	28.43 %	16.33 %	6.72 %
Q1 2017	36.50 %	29.75 %	22.21 %
Q2 2017	47.32 %	40.35 %	29.96 %
Q3 2017	26.08 %	19.44 %	5.50 %
Q4 2017	15.64 %	7.83 %	(1.21 %)
Q1 2018	24.89 %	19.80 %	5.60 %
Q2 2018	21.89 %	18.08 %	3.03 %
Q3 2018	25.77 %	20.67 %	5.39 %
Q4 2018	14.07 %	14.91 %	0.51 %
Q1 2019	27.42 %	19.82 %	5.32 %
Q2 2019	31.17 %	20.88 %	2.61 %
Q3 2019	27.68 %	18.68 %	5.11 %
Q4 2019	36.08 %	24.83 %	12.56 %
Q1 2020	32.93 %	23.69 %	13.35 %
Q2 2020	35.80 %	25.44 %	10.19 %
Q3 2020	28.48 %	18.94 %	3.22 %
Q4 2020	32.16 %	18.53 %	5.62 %
Q1 2021	28.82 %	17.67 %	0.93 %
Q2 2021	19.45 %	11.64 %	(6.33 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2012	15.00	5.52	5.52	15.49
Q2 2012	15.00	5.36	5.36	15.67
Q3 2012	15.00	5.59	5.59	17.15
Q4 2012	15.00	5.83	5.83	14.93
Q1 2013	15.00	6.03	6.03	16.33
Q2 2013	15.00	5.93	5.93	16.16
Q3 2013	15.00	5.58	5.58	17.32
Q4 2013	15.00	5.63	5.63	15.41
Q1 2014	15.00	5.67	5.67	15.63
Q2 2014	15.00	6.17	6.17	16.20
Q3 2014	15.00	6.74	6.74	16.64
Q4 2014	15.00	6.71	6.71	16.81
Q1 2015	15.00	6.66	6.66	16.77
Q2 2015	15.00	6.99	6.99	17.46
Q3 2015	15.00	6.70	6.70	18.91
Q4 2015	15.00	6.88	6.88	17.69
Q1 2016	15.00	7.66	7.66	21.19
Q2 2016	15.00	7.07	7.07	21.29
Q3 2016	15.00	6.43	6.43	22.10
Q4 2016	15.00	4.88	4.88	22.37
Q1 2017	15.00	3.44	3.44	22.13
Q2 2017	15.00	2.92	2.92	23.20
Q3 2017	15.00	2.20	2.20	21.79
Q4 2017	15.00	1.93	1.93	20.32
Q1 2018	15.00	1.25	1.25	19.78
Q2 2018	15.00	0.24	0.24	19.78
Q3 2018	15.00	0.26	0.26	19.89
Q4 2018	15.00	0.29	0.29	19.54
Q1 2019	15.00	0.28	0.28	19.65
Q2 2019	15.00	0.26	0.26	19.69
Q3 2019	15.00	0.25	0.25	19.79
Q4 2019	15.00	0.58	0.58	19.01
Q1 2020	15.00	0.84	0.84	19.37
Q2 2020	15.00	0.99	0.99	19.56
Q3 2020	15.00	0.95	0.95	19.62
Q4 2020	15.00	0.71	0.71	18.60
Q1 2021	15.00	0.37	0.37	18.61
Q2 2021	15.00	0.08	0.08	18.52

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2011	15.00	5.52	5.52	15.26
2012	15.00	5.83	5.83	14.93
2013	15.00	5.63	5.63	15.41
2014	15.00	6.71	6.71	16.81
2015	15.00	6.88	6.88	17.69
2016	15.00	4.88	4.88	22.37
2017	15.00	1.93	1.93	20.32
2018	15.00	0.29	0.29	19.54
2019	15.00	0.59	0.59	19.01
2020	15.00	0.71	0.71	18.60

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2012	13.64	13.64	4.86
Q2 2012	11.56	11.56	3.96
Q3 2012	11.68	11.68	3.80
Q4 2012	11.71	11.71	4.57
Q1 2013	11.36	11.36	4.19
Q2 2013	12.32	12.32	4.52
Q3 2013	13.32	13.32	4.29
Q4 2013	12.97	12.97	4.74
Q1 2014	15.48	15.48	5.61
Q2 2014	15.78	15.78	6.02
Q3 2014	15.73	15.73	6.37
Q4 2014	13.43	13.43	5.36
Q1 2015	15.10	15.10	5.99
Q2 2015	14.27	14.27	5.71
Q3 2015	12.39	12.39	4.39
Q4 2015	13.67	13.67	5.32
Q1 2016	10.75	10.75	3.89
Q2 2016	13.02	13.02	4.32
Q3 2016	10.57	10.57	3.07
Q4 2016	14.70	14.70	3.21
Q1 2017	16.42	16.42	2.55
Q2 2017	17.19	17.19	2.16
Q3 2017	23.02	23.02	2.32
Q4 2017	29.98	29.98	2.85
Q1 2018	41.29	41.29	2.61
Q2 2018	More than 50	More than 50	2.53
Q3 2018	More than 50	More than 50	2.46
Q4 2018	More than 50	More than 50	2.67
Q1 2019	More than 50	More than 50	2.47
Q2 2019	More than 50	More than 50	2.13
Q3 2019	More than 50	More than 50	2.45
Q4 2019	More than 50	More than 50	2.78
Q1 2020	44.30	44.30	1.92
Q2 2020	42.26	42.26	2.13
Q3 2020	More than 50	More than 50	3.01
Q4 2020	More than 50	More than 50	5.32
Q1 2021	More than 50	More than 50	5.52
Q2 2021	More than 50	More than 50	5.82

Period	P/E	Adjusted P/E	Price/book
2011	12.32	12.32	4.45
2012	11.71	11.71	4.57
2013	12.97	12.97	4.74
2014	13.43	13.43	5.36
2015	13.67	13.67	5.32
2016	14.70	14.70	3.21
2017	29.98	29.98	2.85
2018	More than 50	More than 50	2.67
2019	More than 50	More than 50	2.78
2020	More than 50	More than 50	5.32

Financial Ratios

	Current
Market Cap (M Riyal)	644.25
Enterprise Value (EV) (M)	599.57
Shares Outstanding ((M))	15.00
EPS ( Riyal) (TTM)	(4.17)
Book Value (BV) ( Riyal)	13.58
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
P/E (TTM)	NEG
Price/book	3.16
Return on Average Assets (%) (TTM)	(23.45 )
Return on Average Equity (%) (TTM)	(26.66 )

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SVCP swings to net loss of SAR 1.2 mln in H1 2021

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Share Price

Saudi Vitrified Clay Pipes Co. (SVCP)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

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SVCP swings to net loss of SAR 1.2 mln in H1 2021

View other reports

Share Price

Saudi Vitrified Clay Pipes Co. (SVCP)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Financial Ratios

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