Financial Results : UCIC Q1 2025 profit down 46% to SAR 18.7M

UCIC Q1 2025 profit down 46% to SAR 18.7M

29/05/2025 Argaam Exclusive

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United Carton Industries Co. (UCIC) posted a net profit of SAR 18.7 million for the first quarter of 2025, a decrease of 46% from SAR 34.6 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 355.51 349.83 (1.6 %)
Gross Income 73.57 51.36 (30.2 %)
Operating Income 42.07 20.79 (50.6 %)
Net Income 34.65 18.65 (46.2 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyal) 0.87 0.47 (46.2 %)
EPS (Riyal) 0.87 0.47 (46.2 %)

The decline in the first-quarter net profit was attributed to a 1.6% year-on-year (YoY) revenue drop, mainly from lower selling prices in the corrugated carton segment, and higher raw material costs, especially paper, in local and international markets, increasing cost of sales. Operating expenses, however, fell compared to the same quarter last year.

 

The drop in profits compared to the previous quarter was due to the prior quarter’s inclusion of SAR 12.73 million in insurance income from a subsidiary and a one-time SAR 11.24 million gain from acquiring a wholly owned subsidiary in Ras Al Khaimah, UAE.

 

UCIC’s earnings also fell by 46.9% from SAR 35.16 million in Q4 2024.

 

Despite this, revenue rose 8.4% YoY, driven by higher sales volume from increased customer orders ahead of Ramadan in Q1 2025.

 

Total shareholders’ equity, no minority interest, increased to SAR 564.17 million as of March 31, 2025, from SAR 545.52 million a year earlier.

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