Financial Results : WAJA generates SAR 2.38M profit in 9M 2025

WAJA generates SAR 2.38M profit in 9M 2025

11/11/2025 Argaam Exclusive

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Waja Co. reported a decline in net profit to SAR 2.38 million for the first nine months of 2025, compared to SAR 12.56 million in the same period last year.

 



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 146.80 73.94 (49.6 %)
Gross Income 21.35 17.76 (16.8 %)
Operating Income 15.35 6.64 (56.8 %)
Net Income 12.56 2.38 (81.1 %)
Average Shares 70.00 70.00 -
Earnings Per Share before unusual items (Halala) 17.94 3.40 (81.1 %)
EPS (Halala) 17.94 3.40 (81.1 %)

The company attributed the profit drop mainly to a decrease in revenue by SAR 72.87 million, or 49.64%, due to a slowdown in awarded contracts and a lower volume of ongoing projects during the period.

 

Waja also reported higher administrative expenses, increased provisions for expected credit losses, and higher financing costs.

In addition, the company incurred part of the non-recurring expenses related to the preparation of its file for transitioning to the main market (TASI), which included mandatory regulatory and implementation costs associated with this strategic move.

 

Total shareholders’ equity amounted to SAR 103.54 million as of Sept. 30, 2025, compared to SAR 108.20 million in the same period a year earlier.

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