Financial Results : Shams loses SAR 3.4M in 9M 2025, SAR 363,800 in Q3

Shams loses SAR 3.4M in 9M 2025, SAR 363,800 in Q3

02/11/2025 Argaam Exclusive

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Tourism Enterprise Co. (Shams) posted a net loss of SAR 3.4 million for the first nine months of 2025, versus a net profit of SAR 8.1 million in the same period of 2024.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 6.32 6.46 2.3 %
Gross Income (1.91) (3.68) (92.4 %)
Operating Income (8.20) (10.17) (24.0 %)
Net Income 8.14 (3.41) (141.8 %)
Average Shares 57.82 57.82 -
Earnings Per Share before unusual items (Riyals) 0.15 (0.03) (120.8 %)
EPS (Riyal) 0.14 (0.06) (141.8 %)

The loss was attributed to lower Islamic Murabaha returns and its investment in the SEDCO Capital Ajdan Fairmont Fund.

 

This came despite a rise in revenues during the current period compared to a year earlier, driven by higher occupancy rates and stronger sales efforts.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 2.12 1.58 (25.3 %)
Gross Income (0.75) (2.23) (197.3 %)
Operating Income (2.97) (3.89) (30.9 %)
Net Income 1.22 (0.36) (129.7 %)
Average Shares 57.82 57.82 -
Earnings Per Share before unusual items (Riyal) 0.02 (0.01) (129.7 %)
EPS (Riyal) 0.02 (0.01) (129.7 %)

Similarly, the company sustained in Q3 2025 net losses of SAR 363,800, against a net income of SAR 1.22 million in Q3 2024.

 

On a quarterly basis, net losses shrank by 90.3% from SAR 3.77 million in Q2 2025.

 

Total shareholders’ equity, with no minority interest, dropped to SAR 500.3 million as of Sept. 30, 2025, from SAR 514.54 million a year earlier.

 

Accumulated losses amounted to SAR 71.8 million by the end of the nine-month period, making up 12.4% of capital.

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