Financial Results : Naqi Water H1 2025 earnings down 56% to SAR 8.4M; Q2 at SAR 4.8M

Naqi Water H1 2025 earnings down 56% to SAR 8.4M; Q2 at SAR 4.8M

07/08/2025 Argaam Exclusive

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Naqi Water Co. posted net earnings of SAR 8.4 million in the first six months of 2025, down 55.6% from SAR 18.9 million a year before.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 113.74 95.64 (15.9 %)
Gross Income 39.60 35.12 (11.3 %)
Operating Income 14.65 6.99 (52.3 %)
Net Income 18.94 8.40 (55.6 %)
Average Shares 20.00 20.00 -
Earnings Per Share before unusual items (Riyals) 0.95 0.42 (55.6 %)
EPS (Riyal) 0.95 0.42 (55.6 %)

This was due to lower sales from the water segment, along with higher expenses related to opening and expanding branches.

 

The company posted a 56.8% fall in Q2 2025 earnings to SAR 4.76 million, compared with SAR 11.02 million a year earlier, driven mainly by a decline in sales within the water segment, in addition to the recognition of non-operating gains in the same quarter of the previous year resulting from the sale of a plot of land.

 

Meanwhile, Q2 2025 net earnings leapt 30.8% compared with SAR 3.64 million in Q1 2025.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 56.03 51.17 (8.7 %)
Gross Income 20.45 19.13 (6.4 %)
Operating Income 7.01 4.27 (39.1 %)
Net Income 11.02 4.76 (56.8 %)
Average Shares 20.00 20.00 -
Earnings Per Share before unusual items (Riyal) 0.55 0.24 (56.8 %)
EPS (Riyal) 0.55 0.24 (56.8 %)

Total shareholders’ equity, no minority interest, stood at SAR 282.2 million as of June 30, 2025, compared to SAR 262.3 million in a prior-year period.

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