Financial Results : MEPCO turns to SAR 5.3M profit in Q1 2025

MEPCO turns to SAR 5.3M profit in Q1 2025

13/05/2025 Argaam Exclusive

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Middle East Paper Co. (MEPCO) posted net earnings of SAR 5.3 million in the first quarter of 2025, against losses of SAR 18.4 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 243.45 259.09 6.4 %
Gross Income 23.68 33.95 43.4 %
Operating Income (11.31) 12.31 208.8 %
Net Income (18.36) 5.33 129.0 %
Average Shares 86.67 86.67 -
Earnings Per Share before unusual items (Riyal) (0.21) 0.06 129.0 %
EPS (Riyal) (0.21) 0.06 129.0 %

Revenues increased 6% year-on-year (YoY), driven by improved selling prices across the company’s finished goods portfolio and a 10% rise in global market prices for finished paper and tissue products in early 2025.

 

Operating, selling, and distribution expenses declined by 11%, and general & administrative expenses dropped by 28%.

 

However, the company posted a slight increase in sale volumes during this period.

 

MEPCO swung to earnings from losses of SAR 44.50 million in Q4 2024, driven by lower general and administrative expenses as well as a decline in doubtful debt provisions.

 

Shareholders’ equity, after minority interest, reached SAR 1.61 billion as of March 31, 2025, compared to SAR 1.66 billion in the prior-year period.

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