Financial Results : Atlas Elevators profits shrink to SAR 4.4M in H1 2025

Atlas Elevators profits shrink to SAR 4.4M in H1 2025

14/08/2025 Argaam Exclusive

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Atlas Elevators General Trading and Contracting Co.’s profits after minority interest contracted to SAR 4.4 million in H1 2025, from SAR 9.2 million a year earlier.



Current Half Annual Comparison (M)

Compared With The
Item H1 2024 H1 2025 Change‬
Revenues 43.89 40.44 (7.9 %)
Gross Income 12.41 14.06 13.3 %
Operating Income 2.93 3.67 25.2 %
Net Income 9.12 4.31 (52.8 %)
Average Shares 6.00 6.00 -
Earnings Per Share before unusual items (Riyal) 0.87 0.72 (17.5 %)
EPS (Riyal) 1.52 0.72 (52.8 %)

The first-half profit was hurt by lower sales due to weak revenues from Atlas’ core business activities. Revenues from installations and manufacturing decreased by 6.56% year-on-year (YoY) to SAR 36.2 million by the end of the six-month period.

 

The company also recorded an 86.38% slump in the H1 2025 other income to SAR 670,000. Moreover, profits from the revaluation of investment properties plunged YoY to SAR 504,930 as of June 30, 2025.

 

It is worth noting that earnings recorded in previous periods were extraordinary and non-recurring. Meanwhile, the net profit from the core business increased to SAR 3.7 million in H1 2025, compared to SAR 2.9 million in H1 2024.

 

Total shareholders’ equity, after minority interest, reached SAR 97.94 million as of June 30, 2025, up from SAR 96.25 million a year earlier.

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