Financial Results : Service Equipment 2025 profit falls 63% to SAR 6M; H2 at SAR 1.4M

Service Equipment 2025 profit falls 63% to SAR 6M; H2 at SAR 1.4M

15/03/2026 Argaam Exclusive

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Service Equipment Co. reported a net profit of SAR 6 million in 2025, a 63% decline from SAR 16.2 million in 2024.



Financials (M)

Item 2024 2025 Change‬
Revenues 57.44 50.52 (12.0 %)
Gross Income 28.02 22.46 (19.8 %)
Operating Income 16.33 6.13 (62.5 %)
Net Income 16.24 6.00 (63.1 %)
Average Shares 2.40 2.40 -
Earnings Per Share before unusual items (Riyals) 6.77 2.50 (63.1 %)
EPS (Riyal) 6.77 2.50 (63.1 %)

The decline was driven by lower revenues amid weak demand in the corporate segment, coupled with higher administrative expenses aimed at strengthening the company’s governance and administrative structure. The company also recorded expected credit loss provisions for certain accounts receivable in line with International Financial Reporting Standard (IFRS) 9.

 

Service Equipment’s net profit for the second half of 2025 fell 83.4% to SAR 1.43 million from SAR 8.62 million in H2 2024. Compared to H1 2025, net profit also dropped 68.6% from SAR 4.57 million.



Current Half Annual Comparison (M)

Compared With The
Item H2 2024 H2 2025 Change‬
Revenues 31.43 24.12 (23.3 %)
Gross Income 15.91 10.59 (33.5 %)
Operating Income 9.37 2.16 (77.0 %)
Net Income 8.62 1.43 (83.4 %)
Average Shares 2.40 2.40 -
Earnings Per Share before unusual items (Riyal) 3.59 0.60 (83.4 %)
EPS (Riyal) 3.59 0.60 (83.4 %)

Shareholders’ equity, with no minority interest, stood at SAR 44.26 million by Dec. 31, 2025, compared to SAR 41.88 million a year earlier.

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