Financial Results : Elm profit jumps 43% to SAR 495M in Q1 2025

Elm profit jumps 43% to SAR 495M in Q1 2025

08/05/2025 Argaam Exclusive

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Elm Co. reported a net profit of SAR 495 million in the first quarter of 2025, up 43% from SAR 345 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 1,639.01 1,877.43 14.5 %
Gross Income 623.71 773.09 24.0 %
Operating Income 334.38 471.88 41.1 %
Net Income 344.78 495.73 43.8 %
Average Shares 80.00 80.00 -
Earnings Per Share before unusual items (Riyal) 4.31 6.20 43.8 %
EPS (Riyal) 4.31 6.20 43.8 %

The company cited a 14.52% year-on-year (YoY) increase in the first-quarter topline. In detail, revenues from the digital business and professional services segments rose by 18.12% and 48.39% YoY, respectively. The business process outsourcing segment’s revenue also grew by 2.51% YoY for the same period.

 

Accordingly, the Q1 2025 gross profit climbed 23.88% (SAR 149 million) YoY. Elm also recorded better other income and gains from revaluation of investments at fair value through profit/loss.

 

On the other hand, operating expenses rose 4.14% on an annual basis in Q1 2025 on higher general and administrative expenses. During the same quarter, the company also saw a SAR 2 million hike in finance costs and incurred increased losses in the share of associates’ results.

 

Compared to Q4 2024, however, the three-month net earnings inched down 0.4% from SAR 497 million, as revenues dropped by 11.84% (SAR 252 million) and other income shed SAR 61 million quarter-on-quarter.

 

Total shareholders’ equity, after minority interest, rose to SAR 5.48 billion as of March 31, 2025, compared to SAR 4.04 billion a year earlier.

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