Obeikan Glass Reports SAR 25.92M Net Profit in the Six Months 2026
OGC 4145.SA | 0.00 |
On 2026-08-09 08:33:29 (Saudi Time), Obeikan Glass Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 102.034 | 89.139 | 14.466 | 94.424 | 8.059 |
| Gross Profit (Loss) | 34.161 | 31.033 | 10.079 | 36.184 | -5.59 |
| Operational Profit (Loss) | -2.917 | 12.411 | - | 4.091 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 23.623 | 12.713 | 85.817 | 2.294 | 929.773 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 23.623 | 12.713 | 85.817 | 2.294 | 929.773 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 196.459 | 174.163 | 12.801 |
| Gross Profit (Loss) | 70.346 | 57.603 | 22.122 |
| Operational Profit (Loss) | 4.776 | 18.526 | -74.22 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 25.918 | 18.845 | 37.532 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 25.918 | 18.845 | 37.532 |
| Total Shareholders Equity (after Deducting Minority Equity) | 596.476 | 555.175 | 7.439 |
| Profit (Loss) per Share | 0.81 | 0.59 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, sales/revenue increased 12.801% YoY to SAR 196.459 million (from SAR 174.163 million), primarily driven by the consolidation of Obeikan AGC Glass Company's revenues, which were not included in the corresponding prior-year period. Net profit attributable to shareholders rose 37.532% YoY to SAR 25.918 million (from SAR 18.845 million), mainly due to the consolidation of Obeikan AGC's results, including SAR 24.84 million recognized as income from the settlement of obligations following the amendment to a proportional waiver mechanism. These gains were partially offset by higher selling and distribution expenses, general and administrative expenses, expected credit losses, and increased losses from the aluminium casting subsidiary.
Quarter-on-Quarter Performance Drivers
QoQ revenue rose 8.059% to SAR 102.034 million, driven by growth in the aluminium casting segment and higher sales in international markets. Net profit attributable to shareholders surged 929.773% QoQ to SAR 23.623 million, primarily due to the recognition of SAR 24.84 million as income from the settlement of obligations following the amendment to a proportional waiver mechanism. The strong net profit gain was partially offset by an operating loss of SAR 2.917 million in the current quarter (versus an operating profit of SAR 4.091 million in the prior quarter) and higher finance costs.
Other Items
The external auditor issued an unmodified conclusion on the interim financial results for the six months ended June 30, 2026. Total shareholders' equity (after deducting minority equity) stood at SAR 596.476 million, compared to SAR 555.175 million in the same period of the prior year, representing a 7.439% increase. Earnings per share for the current period were SAR 0.81, up from SAR 0.59 in the corresponding prior-year period. Certain comparative figures have been reclassified to conform to the presentation of the current-period figures. No additional risk disclosures or going concern issues were noted in the announcement.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97394&anCat=1&cs=4145&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.