Financial Results : solutions posts 2% profit growth to SAR 361M in Q1 2025

solutions posts 2% profit growth to SAR 361M in Q1 2025

27/04/2025 Argaam Exclusive

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Arabian Internet and Communications Services Co. (solutions) reported a net profit of SAR 361 million in Q1 2025, an increase of 2% from SAR 353 million in the year earlier period.


Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 2,808.65 2,823.89 0.5 %
Gross Income 619.46 616.48 (0.5 %)
Operating Income 370.20 371.15 0.3 %
Net Income 353.34 360.67 2.1 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items (Riyal) 2.69 3.01 11.8 %
EPS (Riyal) 2.94 3.01 2.1 %

Revenues rose 0.5% year-n-year (YoY) mainly due to the increase in IT managed and operational services by 28.6% and digital services by 2.6%.

 

Operating expenses decreased by SAR 4 million, as a result of the fall in selling and distribution expenses by SAR 35 million.

 

There was also the allocation of total other income at SAR 20 million as compared to expenses of SAR 20 million, mainly due to a SAR 42 million decrease in net other expenses.

 

Meanwhile, the firm noted a decrease in revenues of core ICT services by 13.8% and an increase in general and administration expenses by SAR 31 million.

 

Gross profit decreased by SAR 3 million. Zakat and tax expenses increased by SAR 32 million.

 

On a quarterly basis, net profit grew 10.39% from SAR 327 million in Q4 2024.

 

Total shareholders’ equity, excluding minority equity, reached SAR 4.36 billion by March 31, 2025, compared to 3.52 billion a year earlier.

 

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