Financial Results : GACO incurs SAR 3.5M loss in Q1 2025

GACO incurs SAR 3.5M loss in Q1 2025

15/05/2025 Argaam Exclusive

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Al Gassim Investment Holding Co. (GACO) widened net losses to SAR 3.5 million in Q1 2025, from SAR 1.8 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 2.51 2.32 (7.7 %)
Gross Income 2.14 1.90 (11.6 %)
Operating Income (0.40) (0.61) (52.5 %)
Net Income (1.76) (3.49) (98.4 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyal) (0.02) 0.00 97.0 %
EPS (Riyal) (0.06) (0.12) (98.4 %)

The higher net losses were attributed to a decline in revenues due to lower finance income.

 

GACO reported an impairment of financial assets held for sale, in addition to an increase in general and administrative expenses, along with lower revenue and increased cost of sales.

 

On the other hand, GACO recorded a decline in provisions for Zakat and expected credit losses during the three-month period. It also recorded higher other income.

 

The company posted losses, despite recording a net profit of SAR 14.9 million in Q4 2024.

 

Total shareholders’ equity, no minority interest, increased to SAR 303.17 million as of March 31, 2025, from SAR 294.60 million a year earlier.

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