Financial Results : SVCP incurs SAR 20.2M loss in H1 2025, SAR 11.5M in Q2

SVCP incurs SAR 20.2M loss in H1 2025, SAR 11.5M in Q2

07/08/2025 Argaam Exclusive

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Saudi Vitrified Clay Pipes Co. (SVCP) widened its net loss to SAR 20.2 million in H1 2025, from SAR 17.6 million in the prior-year period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 24.48 27.85 13.7 %
Gross Income (7.74) (5.46) 29.4 %
Operating Income (16.53) (18.80) (13.7 %)
Net Income (17.58) (20.21) (15.0 %)
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyals) (1.17) (1.35) (15.0 %)
EPS (Riyal) (1.17) (1.35) (15.0 %)

This was due to higher operating expenses and financing charges. However, the company reported higher revenues as its subsidiary achieved increased sales of cement products.

 

SVCP's Q2 2025 losses reached SAR 11.5 million, down from SAR 12.08 million a year earlier, due to higher revenues during the quarter.

 

The three-month net losses, however, widened from SAR 8.63 million in Q1 2025.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 9.66 14.76 52.8 %
Gross Income (7.25) (4.44) 38.7 %
Operating Income (10.99) (10.88) 1.0 %
Net Income (12.08) (11.46) 5.1 %
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyal) (0.81) (0.76) 5.1 %
EPS (Riyal) (0.81) (0.76) 5.1 %

Shareholders’ equity, no minority interest, dropped to SAR 81.83 million as of June 30, 2025, from SAR 189.75 million a year earlier.

 

Accumulated losses reached SAR 68.17 million at the end of H1 2025, representing 45.45% of the company's capital.

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