Obeikan Glass profit falls 42% to SAR 6.1M in Q1 2025

Obeikan Glass Co. posted a 42% drop in the Q1 2025 net profit to SAR 6.1 million, from SAR 10.6 million a year earlier.

This pullback was attributed to an SAR 3.3 million increase in overhead, general and administrative expenses as the company entered into a new investment.

In addition, Obeikan Glass bore a share of the founding costs and pre-operational expenses for its investment in subsidiary Saudi Aluminum Casting Foundry Co., given the accounting treatment of this investment.

The Saudi-listed glass producer also cited a SAR 1.2 million year-on-year (YoY) increase in the expected credit loss (ECL) provision due to the aged balances with a related party, Obeikan AGC LLC.

However, the first-quarter revenues surged YoY due to a slight rise in sales volumes for the same period.

Shareholders’ equity, after minority interest, fell to SAR 541.75 million as of March 31, 2025, from SAR 548.58 million a year earlier.

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Share Price

Obeikan Glass Co. (OBEIKAN GLASS)

	Current
Market Cap (M Riyal)	990.40
Enterprise Value (EV) (M)	1,037.09
Shares Outstanding ((M))	32.00
Book Value (BV) ( Riyal)	16.77
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
Price/book	1.85

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	257.86	-	91.84	-	40.70	-
Q1 2020	-	-	-	-	-	-
Q2 2020	96.65	-	27.10	-	2.43	-
Q3 2020	-	-	-	-	-	-
Q4 2020	164.69	-	50.58	-	18.87	-
2020	261.33	1.3 %	77.68	(15.4 %)	21.30	(47.7 %)
Q1 2021	-	-	-	-	-	-
Q2 2021	203.81	110.9 %	91.76	238.6 %	59.63	2351.3 %
Q3 2021	-	-	-	-	-	-
Q4 2021	259.43	57.5 %	159.68	215.7 %	126.60	571.1 %
2021	463.24	77.3 %	251.45	223.7 %	186.23	774.4 %
Q1 2022	-	-	-	-	-	-
Q2 2022	260.54	27.8 %	149.99	63.5 %	115.04	92.9 %
Q3 2022	-	-	-	-	-	-
Q4 2022	241.64	(6.9 %)	106.20	(33.5 %)	72.76	(42.5 %)
2022	502.18	8.4 %	256.20	1.9 %	187.80	0.8 %
Q1 2023	-	-	-	-	-	-
Q2 2023	216.16	(17.0 %)	88.82	(40.8 %)	57.50	(50.0 %)
Q3 2023	-	-	-	-	-	-
Q4 2023	177.82	(26.4 %)	60.88	(42.7 %)	21.50	(70.5 %)
2023	393.98	(21.5 %)	149.70	(41.6 %)	76.81	(59.1 %)
Q1 2024	-	-	-	-	-	-
Q2 2024	167.13	(22.7 %)	59.87	(32.6 %)	26.91	(53.2 %)
Q3 2024	-	-	-	-	-	-
Q4 2024	159.98	(10.0 %)	45.18	(25.8 %)	(16.43)	(176.4 %)
2024	327.12	(17.0 %)	105.06	(29.8 %)	10.47	(86.4 %)
Q1 2025	-	-	-	-	-	-

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	257.86	-	91.84	-	40.70	-
2020	261.33	1.3 %	77.68	(15.4 %)	21.30	(47.7 %)
2021	463.24	77.3 %	251.45	223.7 %	186.23	774.4 %
2022	502.18	8.4 %	256.20	1.9 %	187.80	0.8 %
2023	393.98	(21.5 %)	149.70	(41.6 %)	76.81	(59.1 %)
2024	327.12	(17.0 %)	105.06	(29.8 %)	10.47	(86.4 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	27.70	-	0.87	(2.26)	29.96	0.94
Q1 2020	-	-	-	-	-	-
Q2 2020	(1.10)	-	(0.03)	-	(1.10)	(0.03)
Q3 2020	-	-	-	-	-	-
Q4 2020	18.39	-	0.57	-	18.39	0.57
2020	17.30	(37.6 %)	0.54	-	17.30	0.54
Q1 2021	-	-	-	-	-	-
Q2 2021	55.67	5165.6 %	1.74	-	55.67	1.74
Q3 2021	-	-	-	-	-	-
Q4 2021	118.01	541.6 %	3.69	(2.98)	120.99	3.78
2021	173.68	904.2 %	5.43	(2.98)	176.66	5.52
Q1 2022	-	-	-	-	-	-
Q2 2022	105.17	88.9 %	3.29	-	105.17	3.29
Q3 2022	-	-	-	-	-	-
Q4 2022	72.48	(38.6 %)	2.27	-	72.48	2.27
2022	177.65	2.3 %	5.55	-	177.65	5.55
Q1 2023	-	-	-	-	-	-
Q2 2023	54.04	(48.6 %)	1.69	-	54.04	1.69
Q3 2023	-	-	-	-	-	-
Q4 2023	13.62	(81.2 %)	0.43	(7.00)	20.62	0.64
2023	67.66	(61.9 %)	2.11	(7.00)	74.66	2.33
Q1 2024	-	-	-	-	-	-
Q2 2024	23.07	(57.3 %)	0.72	(5.30)	28.37	0.89
Q3 2024	-	-	-	-	-	-
Q4 2024	(21.76)	(259.7 %)	(0.68)	(3.30)	(18.46)	(0.58)
2024	1.32	(98.1 %)	0.04	(8.60)	9.92	0.31
Q1 2025	-	-	-	-	-	-

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	Earnings Per Share before unusual items
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	27.70	-	0.87	(2.26)	29.96	0.94
2020	17.30	(37.6 %)	0.54	-	17.30	0.54
2021	173.68	904.2 %	5.43	(2.98)	176.66	5.52
2022	177.65	2.3 %	5.55	-	177.65	5.55
2023	67.66	(61.9 %)	2.11	(7.00)	74.66	2.33
2024	1.32	(98.1 %)	0.04	(8.60)	9.92	0.31

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	35.62 %	28.82 %	11.62 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	30.71 %	21.43 %	11.17 %
2020	29.73 %	21.17 %	6.62 %
Q1 2021	-	-	-
Q2 2021	45.02 %	38.36 %	27.32 %
Q3 2021	-	-	-
Q4 2021	61.55 %	56.06 %	46.64 %
2021	54.28 %	48.27 %	38.14 %
Q1 2022	-	-	-
Q2 2022	57.57 %	51.59 %	40.37 %
Q3 2022	-	-	-
Q4 2022	43.95 %	38.21 %	30.00 %
2022	51.02 %	45.15 %	35.38 %
Q1 2023	-	-	-
Q2 2023	41.09 %	35.74 %	25.00 %
Q3 2023	-	-	-
Q4 2023	34.24 %	23.34 %	11.60 %
2023	38.00 %	29.59 %	18.95 %
Q1 2024	-	-	-
Q2 2024	35.82 %	28.07 %	16.98 %
Q3 2024	-	-	-
Q4 2024	28.24 %	2.52 %	(11.54 %)
2024	32.12 %	15.57 %	3.03 %
Q1 2025	-	-	-

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	35.62 %	28.82 %	11.62 %
2020	29.73 %	21.17 %	6.62 %
2021	54.28 %	48.27 %	38.14 %
2022	51.02 %	45.15 %	35.38 %
2023	38.00 %	29.59 %	18.95 %
2024	32.12 %	15.57 %	3.03 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	28.04 %	20.74 %	(1.14 %)
Q3 2020	-	-	-
Q4 2020	30.71 %	21.43 %	11.17 %
Q1 2021	-	-	-
Q2 2021	45.02 %	38.36 %	27.32 %
Q3 2021	-	-	-
Q4 2021	61.55 %	56.06 %	46.64 %
Q1 2022	-	-	-
Q2 2022	57.57 %	51.59 %	40.37 %
Q3 2022	-	-	-
Q4 2022	43.95 %	38.21 %	30.00 %
Q1 2023	-	-	-
Q2 2023	41.09 %	35.74 %	25.00 %
Q3 2023	-	-	-
Q4 2023	34.24 %	23.34 %	11.60 %
Q1 2024	-	-	-
Q2 2024	35.82 %	28.07 %	16.98 %
Q3 2024	-	-	-
Q4 2024	28.24 %	2.52 %	(11.54 %)
Q1 2025	-	-	-

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	32.00	-	-	-
Q3 2020	-	-	-	-
Q4 2020	32.00	0.57	0.57	8.37
Q1 2021	-	-	-	-
Q2 2021	32.00	1.74	1.74	10.11
Q3 2021	-	-	-	-
Q4 2021	32.00	3.69	3.78	13.06
Q1 2022	-	-	-	-
Q2 2022	32.00	3.29	3.29	16.34
Q3 2022	-	-	-	-
Q4 2022	32.00	2.27	2.27	16.75
Q1 2023	-	-	-	-
Q2 2023	32.00	1.69	1.69	18.38
Q3 2023	-	-	-	-
Q4 2023	32.00	0.43	0.64	18.81
Q1 2024	-	-	-	-
Q2 2024	32.00	0.72	0.89	17.65
Q3 2024	-	-	-	-
Q4 2024	32.00	(0.68)	(0.58)	16.77
Q1 2025	-	-	-	-

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	32.00	0.87	0.94	7.99
2020	32.00	0.54	0.54	8.37
2021	32.00	5.43	5.52	13.06
2022	32.00	5.55	5.55	16.75
2023	32.00	2.11	2.33	18.81
2024	32.00	0.04	0.31	16.77

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	19.95	19.95	4.01
Q3 2022	-	-	-
Q4 2022	29.34	29.34	3.97
Q1 2023	-	-	-
Q2 2023	37.30	37.30	3.43
Q3 2023	-	-	-
Q4 2023	More than 100	85.35	2.92
Q1 2024	-	-	-
Q2 2024	68.30	55.55	2.79
Q3 2024	-	-	-
Q4 2024	NEG	NEG	2.86
Q1 2025	-	-	-

Period	P/E	Adjusted P/E	Price/book
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	11.97	11.97	3.97
2023	26.01	23.57	2.92
2024	More than 100	More than 100	2.86

Business Segments (Million)

Compared With The

Period	Flat Glass	Safety Glass	Mirrors

Period	Flat Glass	Safety Glass	Mirrors
2021	432.37	22.14	8.72
2022	488.98	9.82	3.38
2023	382.59	6.81	4.58
2024	312.94	10.28	3.90

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Obeikan Glass profit falls 42% to SAR 6.1M in Q1 2025

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Share Price

Obeikan Glass Co. (OBEIKAN GLASS)

Financial Ratios

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Financial results (Million)

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Profit Performance (Million)

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Profitability

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Obeikan Glass profit falls 42% to SAR 6.1M in Q1 2025

View other reports

Share Price

Obeikan Glass Co. (OBEIKAN GLASS)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) 2024

Revenue by Business Segment (Latest) 2025 Q1

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