Thimar loses SAR 13M in 2025, SAR 6M in Q4

Thimar Development Holding Co. deepened its losses to SAR 13 million in 2025, from SAR 8 million a year earlier.

The losses expanded due to revaluation of approximately SAR 1.3 million, reflecting the reversal of the impairment loss on properties, machinery, and equipment as of Dec. 31, 2025.

As of the same date, there was also a revaluation of approximately SAR 700,000, reflecting unrealized gains from investments measured at fair value through profit or loss this year.

Although general expenses decreased by about SAR 1.7 million this year compared to the previous year, the change in capital increase costs from advance payments to general expenses resulted in a rise of nearly SAR 800,000 year-on-year (YoY).

Moreover, the cost of revenues rose by approximately SAR 400,000, while there was a decrease in the reversal of the related parties' provision by almost SAR 1.8 million.

Other income fell by nearly SAR 1.2 million despite an increase in gains from the sale of assets of approximately 800,000 and a decrease in the impact of adjusting cash flows for financial liabilities by approximately 400,000.

Meanwhile, unrealized gains from investments at fair value through profit or loss (FVTPL) amounted to SAR 1 million in 2025, compared to SAR 1.79 million in 2024.

Thimar swung to a net loss of SAR 6 million in Q4 2025, against a net profit of SAR 3.3 million in the year-earlier period and SAR 1.91 million in Q3 2025.

Total shareholders’ equity, no minority interest, stood at SAR 11.04 million by Dec. 31, 2025, compared to SAR 24.84 million a year earlier.

Accumulated losses reached SAR 94.65 million by the end of 2025, representing 146% of capital.

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