Financial Results : Tamkeen earns SAR 77M in 9M 2025, SAR 24M in Q3

Tamkeen earns SAR 77M in 9M 2025, SAR 24M in Q3

04/11/2025 Argaam Exclusive

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Tamkeen Human Resources Co. reported a 20.8% rise in net profit to SAR 77 million after minority interest in the first nine months of 2025, from SAR 64 million a year earlier.


Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 508.60 762.20 49.9 %
Gross Income 96.40 139.60 44.8 %
Operating Income 49.80 76.90 54.4 %
Net Income 63.60 76.85 20.8 %
Average Shares 26.50 26.50 -
Earnings Per Share before unusual items (Riyals) 2.04 2.90 42.4 %
EPS (Riyal) 2.40 2.90 20.8 %

Net profit, before minority interest, stood at SAR 77.2 million in the nine-month period, up from SAR 62.7 million in the first nine months of 2024.

 

The profit growth was primarily attributed to a 49.9% year-on-year (YoY) increase in consolidated revenues during the first nine months of 2025, thanks to a 65.6% surge in corporate and subsidiary revenues, supported by an 84.3% increase in average workforce.

 

Tamkeen also reported a 10.3% increase YoY in individual segment revenues, following a 6% rise in average workforce.

 

Gross profit rose 48.5% YoY in the corporate segment and 26.7% YoY in the individual segment, while operating profit grew 54.3% YoY.

 

However, these gains were partially offset by a 17.1% increase in general and administrative (G&A) as well as marketing expenses, mainly due to higher provisions for advances to external recruitment offices, increased salaries and benefits from human capital investments.

 

Tamkeen recorded a SAR 10.4 million decline in non-operating income. Excluding these one-off capital gains, net profit would have grown by 45.3% (SAR 24.1 million) YoY.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 193.90 254.20 31.1 %
Gross Income 33.50 44.00 31.3 %
Operating Income 15.60 24.60 57.7 %
Net Income 26.38 24.52 (7.0 %)
Average Shares 26.50 26.50 -
Earnings Per Share before unusual items (Riyal) 0.63 0.93 46.4 %
EPS (Riyal) 1.00 0.93 (7.0 %)

In Q3, Tamkeen’s net earnings declined by 8.3% to SAR 24 million, from SAR 26.3 million in the third quarter of 2024, hurt by lower non-operating income.

 

Similarly, net earnings decreased by 9.4% quarter-on-quarter (QoQ) from SAR 26.7 million in Q2 2025.

 

Total shareholders’ equity, after minority interest, reached SAR 334 million as of Sept. 30, 2025, up from SAR 327.2 million a year earlier.

Attached documents:

 

 

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