Riyadh Cables 9M 2025 profit up 45.1% to SAR 817M; Q3 at SAR 281.5M

03/11/2025 Argaam Exclusive

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Riyadh Cables Group Co. recorded a net profit of SAR 819 million after minority interest for the first nine months of 2025, up 45.1% from SAR 564.4 million a year earlier, as revenue rose on higher sales volumes.

Financials (M)

Item	9m 2024	9m 2025	Change‬
Revenues	6,515.70	7,935.54	21.8 %
Gross Income	959.11	1,316.54	37.3 %
Operating Income	682.33	949.79	39.2 %
Net Income	564.35	819.00	45.1 %
Average Shares	150.00	150.00	-
Earnings Per Share before unusual items (Riyals)	3.76	5.46	45.1 %
EPS (Riyal)	3.76	5.46	45.1 %

Profit before minority interest amounted to SAR 817.2 million for the nine-month period, compared with SAR 563.1 million in the same period of 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2024	Q3 2025	Change‬
Revenues	2,434.26	2,731.64	12.2 %
Gross Income	402.58	446.31	10.9 %
Operating Income	280.25	333.16	18.9 %
Net Income	234.70	283.53	20.8 %
Average Shares	150.00	150.00	-
Earnings Per Share before unusual items (Riyal)	1.56	1.89	20.8 %
EPS (Riyal)	1.56	1.89	20.8 %

Item	Q2 2025	Q3 2025	Change‬
Revenues	2,714.84	2,731.64	0.6 %
Gross Income	443.42	446.31	0.7 %
Operating Income	323.68	333.16	2.9 %
Net Income	279.28	283.53	1.5 %
Average Shares	150.00	150.00	-
Earnings Per Share before unusual items (Riyal)	1.86	1.89	1.5 %
EPS (Riyal)	1.86	1.89	1.5 %

Riyadh Cables’ third-quarter net profit rose 20.8% to SAR 283.5 million from SAR 234.7 million in Q3 2024. On a quarterly basis, net earnings edged up 1.5% from SAR 279.28 million in Q2 2025.

Total shareholders’ equity, after minority interest, reached SAR 2.91 billion by Sept. 30, 2025, compared to SAR 2.65 billion a year ago.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	4,302.86	-	356.45	-	200.38	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	4,565.68	6.1 %	480.02	34.7 %	263.48	31.5 %
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	4,086.82	(10.5 %)	436.38	(9.1 %)	277.01	5.1 %
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	1,251.87	-	103.43	-	53.43	-
Q4 2021	1,396.15	-	129.56	-	99.27	-
2021	4,883.44	19.5 %	463.08	6.1 %	300.51	8.5 %
Q1 2022	1,561.18	-	151.85	-	101.57	-
Q2 2022	1,691.10	-	141.74	-	94.29	-
Q3 2022	1,769.30	41.3 %	163.92	58.5 %	109.26	104.5 %
Q4 2022	1,830.72	31.1 %	189.59	46.3 %	142.16	43.2 %
2022	6,852.31	40.3 %	647.10	39.7 %	447.28	48.8 %
Q1 2023	1,937.28	24.1 %	218.74	44.0 %	161.53	59.0 %
Q2 2023	1,917.53	13.4 %	236.71	67.0 %	157.60	67.1 %
Q3 2023	2,080.72	17.6 %	279.21	70.3 %	164.22	50.3 %
Q4 2023	1,889.86	3.2 %	238.11	25.6 %	177.10	24.6 %
2023	7,825.38	14.2 %	972.76	50.3 %	668.92	49.6 %
Q1 2024	2,031.55	4.9 %	283.20	29.5 %	210.96	30.6 %
Q2 2024	2,046.15	6.7 %	269.57	13.9 %	195.12	23.8 %
Q3 2024	2,434.26	17.0 %	402.58	44.2 %	280.25	70.7 %
Q4 2024	2,496.52	32.1 %	332.28	39.5 %	294.32	66.2 %
2024	9,007.36	15.1 %	1,286.52	32.3 %	977.25	46.1 %
Q1 2025	2,489.05	22.5 %	426.81	50.7 %	293.66	39.2 %
Q2 2025	2,714.84	32.7 %	443.42	64.5 %	323.68	65.9 %
Q3 2025	2,731.64	12.2 %	446.31	10.9 %	333.16	18.9 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	4,302.86	-	356.45	-	200.38	-
2019	4,565.68	6.1 %	480.02	34.7 %	263.48	31.5 %
2020	4,086.82	(10.5 %)	436.38	(9.1 %)	277.01	5.1 %
2021	4,883.44	19.5 %	463.08	6.1 %	300.51	8.5 %
2022	6,852.31	40.3 %	647.10	39.7 %	447.28	48.8 %
2023	7,825.38	14.2 %	972.76	50.3 %	668.92	49.6 %
2024	9,007.36	15.1 %	1,286.52	32.3 %	977.25	46.1 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	135.29	-	0.90	-	135.29	0.90
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	196.88	45.5 %	1.31	-	196.88	1.31
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	218.43	10.9 %	1.46	-	218.43	1.46
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	36.16	-	0.24	-	36.16	0.24
Q4 2021	84.89	-	0.57	-	84.89	0.57
2021	239.83	9.8 %	1.60	-	239.83	1.60
Q1 2022	85.01	-	0.57	-	85.01	0.57
Q2 2022	68.26	-	0.46	-	68.26	0.46
Q3 2022	92.73	156.4 %	0.62	20.48	72.25	0.48
Q4 2022	106.32	25.3 %	0.71	0.36	105.97	0.71
2022	352.32	46.9 %	2.35	20.84	331.48	2.21
Q1 2023	124.92	46.9 %	0.83	(9.93)	134.85	0.90
Q2 2023	126.97	86.0 %	0.85	(5.33)	132.30	0.88
Q3 2023	132.73	43.1 %	0.88	(7.15)	139.88	0.93
Q4 2023	134.15	26.2 %	0.89	(10.88)	145.02	0.97
2023	518.77	47.2 %	3.46	(33.27)	552.04	3.68
Q1 2024	170.22	36.3 %	1.13	-	170.22	1.13
Q2 2024	159.43	25.6 %	1.06	-	159.43	1.06
Q3 2024	234.70	76.8 %	1.56	-	234.70	1.56
Q4 2024	252.34	88.1 %	1.68	-	252.34	1.68
2024	816.69	57.4 %	5.44	-	816.69	5.44
Q1 2025	256.18	50.5 %	1.71	-	256.18	1.71
Q2 2025	279.28	75.2 %	1.86	-	279.28	1.86
Q3 2025	283.53	20.8 %	1.89	-	283.53	1.89

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	135.29	-	0.90	-	135.29	0.90
2019	196.88	45.5 %	1.31	-	196.88	1.31
2020	218.43	10.9 %	1.46	-	218.43	1.46
2021	239.83	9.8 %	1.60	-	239.83	1.60
2022	352.32	46.9 %	2.35	20.84	331.48	2.21
2023	518.77	47.2 %	3.46	(33.27)	552.04	3.68
2024	816.69	57.4 %	5.44	-	816.69	5.44

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	8.28 %	6.15 %	3.14 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	10.51 %	7.27 %	4.31 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	10.68 %	8.34 %	5.34 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	9.48 %	7.49 %	4.91 %
Q1 2022	-	-	-
Q2 2022	8.92 %	-	4.65 %
Q3 2022	9.15 %	7.31 %	4.84 %
Q4 2022	9.44 %	7.46 %	4.84 %
2022	9.44 %	7.46 %	4.84 %
Q1 2023	9.88 %	7.91 %	5.28 %
Q2 2023	10.85 %	8.53 %	5.97 %
Q3 2023	11.90 %	9.01 %	6.61 %
Q4 2023	12.43 %	9.29 %	7.05 %
2023	12.43 %	9.40 %	7.05 %
Q1 2024	13.10 %	9.81 %	7.42 %
Q2 2024	13.30 %	10.11 %	7.64 %
Q3 2024	14.20 %	11.07 %	8.44 %
Q4 2024	14.29 %	11.65 %	9.07 %
2024	14.28 %	11.61 %	9.07 %
Q1 2025	15.12 %	11.97 %	9.54 %
Q2 2025	15.84 %	12.48 %	10.09 %
Q3 2025	15.81 %	-	10.27 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	8.28 %	6.15 %	3.14 %
2019	10.51 %	7.27 %	4.31 %
2020	10.68 %	8.34 %	5.34 %
2021	9.48 %	7.49 %	4.91 %
2022	9.44 %	7.46 %	4.84 %
2023	12.43 %	9.40 %	7.05 %
2024	14.28 %	11.61 %	9.07 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	8.26 %	-	2.89 %
Q4 2021	9.28 %	8.81 %	6.08 %
Q1 2022	9.73 %	7.52 %	5.45 %
Q2 2022	8.38 %	6.52 %	4.04 %
Q3 2022	9.26 %	6.70 %	4.08 %
Q4 2022	10.36 %	9.01 %	5.79 %
Q1 2023	11.29 %	9.20 %	6.96 %
Q2 2023	12.34 %	9.09 %	6.90 %
Q3 2023	13.42 %	8.75 %	6.72 %
Q4 2023	12.60 %	10.18 %	7.67 %
Q1 2024	13.94 %	11.21 %	8.38 %
Q2 2024	13.17 %	10.33 %	7.79 %
Q3 2024	16.54 %	12.28 %	9.64 %
Q4 2024	13.31 %	12.47 %	10.11 %
Q1 2025	17.15 %	12.51 %	10.29 %
Q2 2025	16.33 %	12.64 %	10.29 %
Q3 2025	16.34 %	-	10.38 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	-	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	-	-	-	-
Q2 2021	-	-	-	-
Q3 2021	150.00	-	-	-
Q4 2021	150.00	-	-	13.57
Q1 2022	150.00	-	-	14.07
Q2 2022	150.00	1.83	1.83	12.78
Q3 2022	150.00	2.21	2.07	13.17
Q4 2022	150.00	2.35	2.21	14.14
Q1 2023	150.00	2.61	2.54	15.12
Q2 2023	150.00	3.01	2.97	14.21
Q3 2023	150.00	3.27	3.42	15.16
Q4 2023	150.00	3.46	3.68	14.98
Q1 2024	150.00	3.76	3.92	16.24
Q2 2024	150.00	3.98	4.10	16.03
Q3 2024	150.00	4.66	4.73	17.64
Q4 2024	150.00	5.44	5.44	17.50
Q1 2025	150.00	6.02	6.02	19.33
Q2 2025	150.00	6.82	6.82	19.43
Q3 2025	150.00	7.14	7.14	19.39

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	150.00	0.90	0.90	12.94
2019	150.00	1.31	1.31	12.79
2020	150.00	1.46	1.46	13.06
2021	150.00	1.60	1.60	13.57
2022	150.00	2.35	2.21	14.14
2023	150.00	3.46	3.68	14.98
2024	150.00	5.44	5.44	17.50

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Recurring P/E	Price/book
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	15.43	16.40	2.56
Q1 2023	20.23	20.81	3.50
Q2 2023	21.75	22.03	4.60
Q3 2023	21.05	20.15	4.55
Q4 2023	26.77	25.16	6.18
Q1 2024	26.22	25.18	6.07
Q2 2024	25.10	24.36	6.23
Q3 2024	21.28	20.96	5.62
Q4 2024	25.31	25.31	7.88
Q1 2025	21.10	21.10	6.57
Q2 2025	20.74	20.74	7.28
Q3 2025	17.78	17.78	6.55

Period	P/E	Recurring P/E	Price/book
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	15.43	16.40	2.56
2023	26.77	25.16	6.18
2024	25.31	25.31	7.88

Business Segments (Million)

Compared With The

Period	Cables and Wires	HV Projects	Other
Q3 2021	1,204.66	22.08	25.11
Q4 2021	1,372.71	16.66	6.79
Q1 2022	1,550.30	6.39	4.50
Q2 2022	1,666.11	19.40	5.59
Q3 2022	1,772.57	-	(3.27)
Q4 2022	1,783.67	44.14	2.91
Q1 2023	1,878.44	51.73	7.11
Q2 2023	1,880.78	27.76	8.98
Q3 2023	1,999.08	72.25	9.38
Q4 2023	1,823.78	66.15	(0.06)
Q1 2024	1,970.33	55.64	5.58
Q2 2024	1,901.61	140.39	4.15
Q3 2024	2,365.59	60.88	6.68
Q4 2024	2,408.39	82.44	5.69
Q1 2025	2,446.97	35.87	6.21
Q2 2025	2,662.95	45.10	6.79

Period	Cables and Wires	HV Projects	Other
2020	4,009.91	20.39	56.52
2021	4,763.10	79.53	40.81
2022	6,772.65	69.93	9.73
2023	7,582.07	217.89	25.41
2024	8,645.91	339.35	22.10

Analysts Estimates (Million)

Item	Profit (Expected)	Profit (Actual)	Change
Average	287.52	283.53

Estimates vs Actual (Million)

Item	Profit (Expected)	Profit (Actual)
Value Capital	286.00	283.53
GIB Capital	289.00	283.53
SNB Capital	295.00	283.53
AlJazira Capital	265.60	283.53
Riyad Capital	302.00	283.53

Financial Ratios

	Current
Market Cap (M Riyal)	20,970.02
Enterprise Value (EV) (M Riyal)	21,611.41
Shares Outstanding ((M))	150.00
EPS ( Riyal) (TTM)	7.14
Book Value (BV) ( Riyal)	19.39
Par Value ( Riyal)	10.00
Recurring P/E	19.57
P/E (TTM)	19.57
Price/book	7.21
Return on Average Assets (%) (TTM)	16.4
Return on Average Equity (%) (TTM)	38.6
EV/adj EBITDA	-
EV/Revenues	2.07

Riyadh Cables Group Co. (RIYADH CABLES)

Company	Estimated	Actual
STC	3,604.78	4,107.00
HERFY FOODS	(6.00)	(48.13)
CENOMI CENTERS	288.75	502.43
DALLAH HEALTH	130.37	141.90
ADES	206.80	214.57
RIYADH CABLES	287.52	283.53
ACWA POWER	546.85	371.17
SAUDI GERMAN HEALTH	62.17	40.29
SPIMACO	52.00	43.60
EPCCO	46.88	36.00

Company	Estimated	Actual
STC	3,604.78	3,633.00
HERFY FOODS	(6.00)	(11.93)
CENOMI CENTERS	288.75	72.53
DALLAH HEALTH	130.37	112.40
ADES	206.80	214.57
RIYADH CABLES	287.52	283.53
ACWA POWER	546.85	182.17
SAUDI GERMAN HEALTH	62.17	40.29
SPIMACO	52.00	43.60
EPCCO	46.88	36.00

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Riyadh Cables 9M 2025 profit up 45.1% to SAR 817M; Q3 at SAR 281.5M

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2025 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Riyadh Cables Group Co. (RIYADH CABLES)

Quarterly Actuals vs Estimates

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Riyadh Cables 9M 2025 profit up 45.1% to SAR 817M; Q3 at SAR 281.5M

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2025

Revenue by Business Segment (Latest) 2025 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Riyadh Cables Group Co. (RIYADH CABLES)

Quarterly Actuals vs Estimates

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Business Segments (Million)