Financial Results : SASCO profit drops 60% to SAR 4.3M in Q1 2025

SASCO profit drops 60% to SAR 4.3M in Q1 2025

04/05/2025 Argaam Exclusive

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Saudi Automotive Services Co.’s (SASCO) net profit dropped 60% to SAR 4.3 million in Q1 2025, from SAR 10.6 million in Q1 2024, due to higher cost of sales, marketing expenses, and financing charges. Additionally, investments and finance income declined.


Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 2,453.17 2,760.43 12.5 %
Gross Income 76.48 74.32 (2.8 %)
Operating Income 47.61 45.70 (4.0 %)
Net Income 10.62 4.28 (59.7 %)
Average Shares 70.00 70.00 -
Earnings Per Share before unusual items (Riyal) 0.15 0.06 (59.7 %)
EPS (Riyal) 0.15 0.06 (59.7 %)

On a positive note, first-quarter sales rose year-on-year driven by a growth in the number of stations, higher sales from SASCO Palm and the transportation segment, in addition to the rise in diesel selling prices.

 

General expenses, provision for credit losses, and Zakat costs decreased, while other revenues increased.

 

On a sequential basis, SASCO’s net profit plunged 57.8% from SAR 10.15 million in Q4 2024.

 

Shareholders’ equity, after minority interest, increased to SAR 853.88 million as of March 31, 2025, from SAR 853.89 million a year earlier.

 

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