Cenomi Retail net loss at SAR 85.6M in H1 2025; Q2 at SAR 87.4M

Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) widened its net loss (excluding minority interest) to SAR 85.6 million in H1 2025, from SAR 70.9 million a year earlier.

The net loss (before minority interest) reached SAR 83.2 million by the end of H1 2025, compared to SAR 67.6 million in H1 2024.

Revenue from the food and beverage segment fell 4% year-on-year (YoY) to SAR 163 million. Other operating income also decreased, as H1 2024 had benefited from significant capital gains from the divestment of non-core brands, the retailer said.

Other operating expenses surged by 144%, mainly due to foreign exchange losses from a stronger euro and tax settlements.

Total retail revenue in Saudi Arabia reached SAR 1.6 billion in H1 2025, marking a 3% YoY drop, as broader promotions in H1 2024 had boosted sales.

Meanwhile, the group-wide topline rose by 2% YoY to SAR 2.41 billion.

International retail revenue grew by 18%, supported by strong performance in Uzbekistan, Georgia, and Azerbaijan.

Online revenue increased by 16% to SAR 196 million, driven by strong sales from Zara and other Inditex brands, as well as Cinnabon and Subway.

Gross profit advanced by 22% to SAR 367 million, with the margin improving from 13% to 15%, thanks to cost-efficiency measures.

Selling, general, and administrative expenses declined by 21% to SAR 182 million, representing 7% of sales compared to 9% in the previous year.

In Q2 2025, Cenomi Retail turned to a net loss of SAR 87.4 million, versus a net profit of SAR 80.93 million in Q2 2024.

The company had posted profits of SAR 1.81 million in Q1 2025.

Total shareholders’ equity (after minority interest) stood at SAR -1.06 billion by the end of the current period, compared to SAR -904.85 million a year earlier.

Accumulated losses at the end of H1 2025 amounted to SAR 1.69 billion, representing 147.5% of capital.

Attached document:

View More Financial Results