Saudi Paper Manufacturing Co. (SPM) reported a net profit of SAR 66.7 million in 2025, down 20% from SAR 83.2 million in the year-earlier period.
| Item | 2024 | 2025 | Change |
|---|---|---|---|
| Revenues | 837.24 | 850.29 | 1.6 % |
| Gross Income | 261.26 | 262.56 | 0.5 % |
| Operating Income | 111.09 | 99.77 | (10.2 %) |
| Net Income | 83.24 | 66.70 | (19.9 %) |
| Average Shares | 37.07 | 37.07 | - |
| Earnings Per Share before unusual items (Riyals) | 2.09 | 1.63 | (21.7 %) |
| EPS (Riyal) | 2.25 | 1.80 | (19.9 %) |
The profit decline was mainly attributed to a SAR 11.7 million increase in the provision for impairment of receivables, along with foreign exchange losses of SAR 9.1 million.
This came despite higher revenues, driven by increased sales volumes of paper rolls following the launch of the new fifth production line on Sept. 29, 2025.
In Q4 2025, Saudi Paper’s net profit skyrocketed by 4,413% to SAR 17.64 million, from SAR 390,000 in Q4 2024.
On a sequential basis, net earnings rose by 21.8% from SAR 14.48 million in Q3 2025.
| Item | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 190.40 | 224.24 | 17.8 % |
| Gross Income | 47.26 | 65.51 | 38.6 % |
| Operating Income | 7.27 | 27.49 | 278.0 % |
| Net Income | 0.39 | 17.64 | 4413.4 % |
| Average Shares | 37.07 | 37.07 | - |
| Earnings Per Share before unusual items (Riyal) | (0.18) | 0.48 | 367.1 % |
| EPS (Riyal) | 0.01 | 0.48 | 4413.4 % |
| Item | Q3 2025 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 189.04 | 224.24 | 18.6 % |
| Gross Income | 56.98 | 65.51 | 15.0 % |
| Operating Income | 15.32 | 27.49 | 79.4 % |
| Net Income | 14.48 | 17.64 | 21.8 % |
| Average Shares | 37.07 | 37.07 | - |
| Earnings Per Share before unusual items (Riyal) | 0.22 | 0.48 | 112.0 % |
| EPS (Riyal) | 0.39 | 0.48 | 21.8 % |
Total shareholders’ equity, after minority interest, stood at SAR 579.83 million by Dec. 31, 2025, compared to SAR 512.79 million a year earlier.
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