Financial Results : Al Kathiri loses SAR 5M in Q1 2025

Al Kathiri loses SAR 5M in Q1 2025

14/05/2025 Argaam Exclusive

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Al Kathiri Holding Co. swung to a net loss of SAR 5 million in Q1 2025, against a net profit of SAR 200,000 in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 45.64 51.84 13.6 %
Gross Income 5.85 2.24 (61.7 %)
Operating Income 2.64 (2.88) (209.2 %)
Net Income 0.24 (5.04) (2182.3 %)
Average Shares 226.04 226.04 -
Earnings Per Share before unusual items (Halala) 0.11 (2.23) (2182.3 %)
EPS (Halala) 0.11 (2.23) (2182.3 %)

The shift to losses was due to a rise in the cost of revenue for the first three months of this year, especially in the contracting segment. Additionally, for the same period, the company witnessed increased operating, general, and selling expenses.

 

However, this annual loss came as the first-quarter revenue rose 14% YoY, supported by growth in contracting activities, higher cement sales on stronger demand and wider geographic coverage, and increased sales of modern building materials (M2 panels).

 

Compared to Q4 2024, losses narrowed from SAR 21 million, given the 26% quarter-on-quarter (QoQ) rise in the first-quarter revenue amid higher sales in the contracting, cement, and M2 panels segments.

 

General & administrative expenses and financing costs also tumbled QoQ in Q1 2025. Moreover, the absence of the expected credit loss provision recorded in the prior quarter also buffered Al Kathiri’s quarterly results.

 

Total shareholders’ equity, after minority interest, fell to SAR 107.08 million as of March 31, 2025, compared to SAR 131.03 million a year earlier.

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