Financial Results : SVCP’s losses widen to SAR 8.6M in Q1 2025

SVCP’s losses widen to SAR 8.6M in Q1 2025

13/05/2025 Argaam Exclusive

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Saudi Vitrified Clay Pipes Co. (SVCP) widened Q1 2025 net losses to SAR 8.6 million, from SAR 5.5 million in the first quarter of 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 14.83 13.10 (11.7 %)
Gross Income (0.49) (1.02) (107.1 %)
Operating Income (5.54) (7.80) (40.8 %)
Net Income (5.50) (8.63) (57.0 %)
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyal) (0.37) (0.58) (57.0 %)
EPS (Riyal) (0.37) (0.58) (57.0 %)

SVCP cited a drop in the first-quarter revenues on subdued demand, projects’ slowdown and higher cost of sales.

 

Meanwhile, losses decreased by 71.9% from SAR 30.7 million in Q4 2024, given the reduced topline and higher operating expenses on a sequential basis for Q1 2025.

 

Total shareholders’ equity, no minority interest, reached SAR 93.41 million as of March 31, 2025, down from SAR 203.72 million a year earlier.

 

Accumulated losses stood at SAR 56.6 million as of March 31, 2025, representing 37.7% of the company’s capital.

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