Elm makes SAR 1.6B profit in 9M 2025, SAR 559M in Q3

Elm Co. reported a net profit increase to SAR 1.6 billion for the first nine months of 2025, compared to SAR 1.3 billion in the year-ago period.

The nine-month revenue rose 26.13% year-on-year (YoY) as digital business revenue rose 23.22%, business process outsourcing revenue grew 33.36% and professional services revenue increased 43.62%.

Other revenue increased by SAR 16 million, and Zakat expenditure decreased by SAR 95 million.

Meanwhile, the nine-month operating expenses rose by 37.28% YoY, mainly due to an increases in general, administrative, depreciation and amortization expenses.

Selling and marketing expenses also led up, along with higher research and development expenses, increased expected credit loss expenses, in addition to a SAR 1 million decrease in impairment of non-current assets.

Finance expenses increased by SAR 50 million YoY, fair value gains from revaluation of investments through profit or loss decreased by SAR 10 million and the share of loss from associates increased by SAR 8 million.

The third-quarter net profit grew 12% to SAR 559 million, from SAR 498 million in Q3 2024.

Sequentially, the three-month bottom line fell 5.3% from SAR 590 million in Q2 2025.

Shareholders’ equity, after minority interest, stood at SAR 3.48 billion at the end of Sept. 30, 2025, compared to SAR 4.78 billion in the year-earlier period.

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