Financial Results : Bawan profit jumps 25% to SAR 36.5M in Q1 2025

Bawan profit jumps 25% to SAR 36.5M in Q1 2025

14/05/2025 Argaam Exclusive

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Bawan Co. reported a net profit rise of 25% to SAR 36.5 million in Q1 2025, from SAR 29.2 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 883.87 910.18 3.0 %
Gross Income 83.00 118.12 42.3 %
Operating Income 40.88 64.35 57.4 %
Net Income 29.15 36.51 25.2 %
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyal) 0.49 0.61 25.2 %
EPS (Riyal) 0.49 0.61 25.2 %

Bawan attributed the earnings growth to higher revenue, driven by the consolidation of its newly acquired oil and gas industries unit from Feb. 13, the effective date of ownership transfer. Improved sales volumes in the plastics segment also supported the topline performance.

 

Additionally, net profit of the electrical industries and plastics business increased, mainly due to better average selling prices, which drove gross profits up.

 

On the other hand, operating expenses (opex) increased on consolidating opex of the oil and gas industries business. Bawan also reported a rise in finance costs on the aforementioned acquisition.

 

The company reported a 20.4% net profit leap from SAR 30.3 million in Q4 2024, thanks to revenue growth. Gross profits also increased, fueled by higher net profit of the electrical industries and plastics business.

 

Total shareholders’ equity, after minority interest, increased to SAR 964.59 million as of March 31, 2025, from SAR 898.08 million a year earlier.

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