Financial Results : SIDC widens Q1 2025 losses to SAR 9.4M

SIDC widens Q1 2025 losses to SAR 9.4M

15/05/2025 Argaam Exclusive

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Saudi Industrial Development Co. (SIDC) reported a net loss of SAR 9.4 million in Q1 2025, widening from SAR 1.2 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 43.18 24.16 (44.0 %)
Gross Income 12.55 3.01 (76.0 %)
Operating Income (3.40) (9.20) (170.7 %)
Net Income (1.21) (9.44) (683.1 %)
Average Shares 20.97 20.97 -
Earnings Per Share before unusual items (Riyal) (0.06) (0.45) (683.1 %)
EPS (Riyal) (0.06) (0.45) (683.1 %)

SIDC attributed the deeper loss to lower sales, mainly due to a decline in revenue from its mattress and foam segment.

 

On a sequential basis, SIDC shifted from a net profit of SAR 3.16 million due to weaker sales in the same segment.

 

Total shareholders’ equity, after minority interest, stood at SAR 64.4 million as of March 31, 2025, compared to SAR 93.8 million a year earlier.

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