BAAN incurs SAR 16.8M losses in Q1 2025

15/05/2025 Argaam Exclusive

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BAAN Holding Group Co. turned to a loss of SAR 16.8 million in Q1 2025 from a profit of SAR 4.2 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 158.17 166.54 5.3 %
Gross Income 44.57 38.79 (13.0 %)
Operating Income 5.69 0.10 (98.2 %)
Net Income 4.20 (16.78) (499.5 %)
Average Shares 315.00 315.00 -
Earnings Per Share before unusual items (Riyal) (0.05) (0.05) (12.4 %)
EPS (Riyal) 0.01 (0.05) (499.5 %)

The company's core operations were impacted by seasonality, as the entire month of Ramadan fell within the current quarter. This led to a decline in visitor numbers and hotel occupancy rates, particularly in the central and eastern regions. Also, Q1 2024 financials included insurance compensation gains of SAR 19.1 million.

 

BAAN recognized expected credit loss provisions of SAR 2.62 million during the current quarter, compared to SAR 985,000 in Q1 2024.

 

These factors were partially offset by a 5.29% increase in revenue during Q1 2025, reaching SAR 166.54 million from SAR 158.17 million in Q1 2024, primarily driven by growth in the catering and food services segment.

 

Sequentially, net losses widened from SAR 12.41 million in Q4 2024.

 

Total shareholders’ equity, excluding minority interest, reached SAR 191.56 million as of March 2025, compared to SAR 207.3 million a year earlier.

 

Accumulated losses stood at SAR 125.76 million by the end of the current period, accounting for 39.92% of the company’s capital.

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Share Price

BAAN Holding Group Co.
2.39
(0.02) (0.83 %)

BAAN Holding Group Co. (BAAN)

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Financial Ratios
Current
Market Cap (M Riyal) 756.00
Enterprise Value (EV) (M) 1,132.91
Shares Outstanding ((M)) 315.00
EPS ( Riyal) (TTM) (0.05)
Book Value (BV) ( Riyal) 0.61
Par Value ( Riyal) 1.00
Recurring P/E Neg
P/E (TTM) NEG
Price/book 3.95
Return on Average Assets (%) (TTM) (0.79 )
Return on Average Equity (%) (TTM) (7.87 )
EV/adj EBITDA 4.54
EV/Revenues 1.52
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