Financial Results : Shaker H1 2025 profit dips 3% to SAR 47.1M; Q2 rise to SAR 19.9M

Shaker H1 2025 profit dips 3% to SAR 47.1M; Q2 rise to SAR 19.9M

03/08/2025 Argaam Exclusive

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Al Hassan Ghazi Ibrahim Shaker Co. (Shaker) reported a 3% profit decrease to SAR 47.1 million in the first half of 2025 from SAR 48.7 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 758.38 769.19 1.4 %
Gross Income 180.96 193.25 6.8 %
Operating Income 42.88 43.93 2.4 %
Net Income 48.70 47.15 (3.2 %)
Average Shares 55.50 55.50 -
Earnings Per Share before unusual items (Riyals) 0.88 0.85 (3.2 %)
EPS (Riyal) 0.88 0.85 (3.2 %)

The company attributed the drop in profit to a decrease in its share of earnings from an associate. This was partially offset by lower financing costs, supported by reduced debt levels and improved capital efficiency.

 

Revenue rose 1.4% year-on-year (YoY) to SAR 769.19 million, driven by a 2.3% increase in the heating, ventilation, and air conditioning (HVAC) segment, underpinned by continued project demand. Revenue from the home appliances segment fell 1.7% on weaker Q2 performance, while revenue from other operations surged 206.5%, reflecting contributions from new projects.

 

Shaker’s gross profit grew 6.8% YoY in H1 2025, reaching SAR 193.25 million, supported by higher revenue, an improved product portfolio, and effective cost of sales management.

 

The company witnessed a 4.4% YoY increase in operating profit to SAR 44.76 million, driven by continued improvements in cost management and efficient resource allocation. It also continued investing in strengthening its talent base to support future growth plans.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 345.14 368.77 6.8 %
Gross Income 83.19 92.62 11.3 %
Operating Income 11.54 19.23 66.7 %
Net Income 16.45 19.92 21.1 %
Average Shares 55.50 55.50 -
Earnings Per Share before unusual items (Riyal) 0.30 0.36 21.1 %
EPS (Riyal) 0.30 0.36 21.1 %

In Q2 2025, the company’s net profit rose 21% to SAR 19.9 million from SAR 16.45 million in the prior year period.

 

Sequentially, net earnings fell 26.9% from SAR 27.2 million in Q1 2025.

 

Total shareholders’ equity, after excluding minority interest, rose to SAR 817.4 million by the end of the six-month period, compared to SAR 766.1 million a year earlier.

 

Shaker paid cash dividends totaling SAR 27.75 million during H1 2025. Net debt declined by 16.4% YoY to SAR 269.6 million.

 

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