Financial Results : UCIC 2025 earnings down 37% to SAR 79.1M; Q4 at SAR 31.8M

UCIC 2025 earnings down 37% to SAR 79.1M; Q4 at SAR 31.8M

04/03/2026 Argaam Exclusive

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United Carton Industries Co. (UCIC) reported net earnings of SAR 79.1 million for 2025, a drop of 37% from SAR 124.7 million a year earlier.



Financials (M)

Item 2024 2025 Change‬
Revenues 1,344.48 1,406.38 4.6 %
Gross Income 240.06 197.71 (17.6 %)
Operating Income 145.87 88.96 (39.0 %)
Net Income 124.70 79.13 (36.5 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyals) 2.43 1.67 (31.3 %)
EPS (Riyal) 3.12 1.98 (36.5 %)

The year-on-year (YoY) profit decline was attributed to higher prices of raw materials, mainly paper, in the local and international markets, which resulted in an elevated cost of revenue.

 

However, this was partly offset by increased sales volumes in the corrugated & folding carton (duplex) segments and higher finance income from short-term deposits in 2025, compared to last year.

 

The 2024 results were also buoyed by a one-off bargain purchase gain of SAR 11.24 million on that year’s takeover of its UAE-based subsidiary, Ras Al Khaimah Packaging, which essentially lifted UCIC’s 2024 bottomline.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 322.74 350.09 8.5 %
Gross Income 45.08 50.18 11.3 %
Operating Income 29.84 31.55 5.7 %
Net Income 25.21 31.83 26.3 %
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyal) 0.22 0.49 118.7 %
EPS (Riyal) 0.63 0.80 26.3 %

In Q4 2025, however, net profit rose 26.3% to SAR 31.8 million, from SAR 25.21 million in Q4 2024. Sequentially, the three-month bottomline also jumped 54.5% from SAR 20.60 million in Q3 2025.

 

Total shareholders' equity, no minority interest, reached SAR 588.31 million by the end of 2025, compared with SAR 545.52 million a year earlier.

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