Mayar swings to SAR 46.3M loss in 2025; H2 losses widen to SAR 34.4M

Mayar Holding Co. swung to a net loss of SAR 46.3 million in 2025, compared with a profit of SAR 16.6 million a year earlier.

The company attributed the losses to an 11% decline in revenue, mainly from lower feed sales due to pricing pressure in the poultry segment and weaker sales in the elevators segment caused by delays in signing certain contracts and in the sukuk program aimed at boosting working capital.

Profit margins also fell across most product categories in the feed and poultry segment, driven by market pricing pressures, higher production costs, and increased operating expenses.

Mayar reported a working capital deficit, which negatively affected the efficiency of its operations. The board is working on solutions to address the shortfall across the group’s sectors.

General and administrative expenses rose, mainly due to companies acquired in the elevators segment during H2 2024.

The period also saw higher provisions for expected credit losses and increased finance costs, reflecting elevated borrowing expenses during the year.

In H2 2025, Mayar posted a net loss of SAR 34.4 million, versus a profit of SAR 10.82 million in the same period of 2024.

On a half-year basis, losses widened from SAR 11.89 million H1 2025.

Shareholders’ equity, excluding minority interest, fell to SAR (3.86) million as of Dec. 31, 2025, from SAR 39.6 million a year earlier.

Accumulated losses reached SAR 45.7 million by the end of the 12-month period, representing 76.20% of the company’s capital.

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