Financial Results : BAAN incurs SAR 16.7M losses in H1 2025; Q2 profit at SAR 130,000

BAAN incurs SAR 16.7M losses in H1 2025; Q2 profit at SAR 130,000

11/08/2025 Argaam Exclusive

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BAAN Holding Group Co. (BAAN) turned to a net loss of SAR 16.7 million in H1 2025, versus a profit of SAR 10.3 million in H1 2024.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 344.73 345.15 0.1 %
Gross Income 102.49 86.12 (16.0 %)
Operating Income 26.39 5.52 (79.1 %)
Net Income 10.28 (16.65) (261.9 %)
Average Shares 315.00 315.00 -
Earnings Per Share before unusual items (Riyals) (0.05) (0.09) (85.1 %)
EPS (Riyal) 0.03 (0.05) (261.9 %)

The drop in profit was attributed to the inclusion of non-recurring insurance compensation of SAR 24.8 million in the same period last year, in addition to lower revenues from the hotels and entertainment segments year-on-year (YoY). The company also incurred setup and pre-operating expenses related to the catering project awarded in Q1 2025.

 

Gross profit declined by 15.97% to SAR 86.12 million in H1 2025, compared to SAR 102.49 million in H1 2024. Operating profit also dropped 48.03% YoY to SAR 14.27 million.

 

On the other hand, revenue increased by 0.12% YoY to SAR 345.15 million in H1 2025, driven by higher revenues from other operating activities, particularly from catering and food services operations.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 186.55 178.61 (4.3 %)
Gross Income 57.92 47.33 (18.3 %)
Operating Income 20.70 5.42 (73.8 %)
Net Income 6.09 0.13 (97.8 %)
Average Shares 315.00 315.00 -
Earnings Per Share before unusual items (Riyal) 0.00 (0.03) (2544.8 %)
EPS (Riyal) 0.02 0.00 (97.8 %)

Q2 2025 bottom line fell 97.9% to SAR 130,000 from SAR 6.09 million in Q2 2024, mainly due to lower revenues.

 

Sequentially, the company reported a net profit against a net loss of SAR 16.78 million in Q1 2025.

 

Shareholders' equity, after minority interest, reached SAR 192.48 million at the end of H1 2025, compared with SAR 214.71 million a year earlier.

 

Accumulated losses reached SAR 125.6 million by the end of H1 2025, representing 39.87% of the company's capital.

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