| Element List |
Explanation |
| Introduction |
With reference to the company’s announcement published on the Tadawul website on 28/12/1444H (corresponding to 16/07/2023) regarding the fire incident at one of its factories, the company announces that on Wednesday, May 7, 2025, it reached a full and final settlement of the insurance claim with Al-Tawuniya Insurance Company for all damages resulting from the fire that occurred on July 15, 2023. The total settlement amounted to SAR 120 million which will have a positive financial impact during the second quarter of 2025, with the company retaining the salvage value of the fire-damaged assets. |
| Previous Announcement |
The Saudi Ceramic Company announces a fire in one of its factories in the Second Industrial Area in Riyadh |
| Date of Previous Announcement on Saudi Exchange’s Website |
2023-07-16 Corresponding to 1444-12-28 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website |
Click Here |
| Latest Developments Of The Announced Event |
On Wednesday, May 7, 2025, Saudi Ceramic Company reached a full and final settlement of the insurance claim with Al-Tawuniya Insurance Company for all damages resulting from the fire that occurred at the company’s factory on July 15, 2023. The total settlement amounted to SAR 120 million which will have a positive financial impact during the second quarter of 2025, with the company retaining the salvage value of the fire-damaged assets. It is worth noting that the claim amount was calculated based on cash indemnity in accordance with the terms of the insurance policy, which stipulates settlement after applying the principles of average, depreciation, and mandatory deductible. |
| Reasons For The Delay on The Date of The Event Previously Announced |
Not Applicable |
| The costs associated with the event, and if they have changed or not with indication of the reasons. |
Not Applicable |
| Delay consequences on the Company’s financial results |
The company does not expect this event to have a material adverse financial impact on its business results. |
| Additional Information |
The company reaffirms its full commitment to applying the highest standards of risk management and safety and continues its efforts to enhance operational sustainability and protect the interests of its shareholders. |
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