SACO Q3 2025 profit hits SAR 39M, transformation plan on track: CEO

Abdel-Salam Bdeir, CEO of Saudi Company for Hardware (SACO)

Abdel-Salam Bdeir, CEO of Saudi Company for Hardware (SACO), said that the company’s Q3 2025 net profit of SAR 39.36 million included non-recurring items totaling SAR 34.05 million, primarily driven by a one-time gain of SAR 42.22 million from the sale of an investment property.

This was partly offset by exceptional amortization expenses of SAR 8.17 million related to the company’s e-commerce platform.

Speaking to Argaam, Bdeir noted that operating profit before non-recurring items reached SAR 5.33 million in Q3, compared to a loss of SAR 8.98 million in the same quarter last year.

He highlighted a strong performance during the quarter, with sales and gross profit both up 6.5%, while general and administrative expenses declined 6.5%, and financing costs fell 32.1% year-on-year (YoY).

Bdeir added that most business segments saw solid growth, led by new categories such as air conditioners, refrigerators, washing machines, televisions, smartphones, and indoor furniture, while other divisions, including automotive accessories, paints, tools, toys, and home appliances, also recorded strong gains.

Online sales continued to gain traction, accounting for over 10% of total revenue in Q3, up more than 50% from the same period in 2024, Bdeir said.

He also said SACO currently operates 33 branches across Saudi Arabia and is reviewing its 2026 expansion plan in line with its strategic roadmap and market needs.

He added that Q3 typically experiences softer consumer demand due to travel and holidays, yet the company managed to grow sales versus both the year-ago and previous quarters.

According to Bdeir, consumers are increasingly seeking quality products at competitive prices, with more choices available from global e-commerce platforms.

Meanwhile, SACO aims to meet these expectations through superior service, competitive offerings, and its ongoing digital transformation strategy focused on operational efficiency and sustainable growth.

SACO reported a net profit of SAR 49.5 million for the first nine months of 2025, compared to a loss of SAR 17.5 million in the same period last year, supported by exceptional Q3 gains, according to Argaam’s data.