Financial Results : Saudi Paper profit dips 43% to SAR 20.7M in Q1 2025

Saudi Paper profit dips 43% to SAR 20.7M in Q1 2025

13/05/2025 Argaam Exclusive

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Saudi Paper Manufacturing Co. (SPM) posted a net profit of SAR 20.7 million in Q1 2025, down 43% from SAR 36.3 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 229.18 228.49 (0.3 %)
Gross Income 81.86 69.36 (15.3 %)
Operating Income 44.25 30.47 (31.1 %)
Net Income 36.25 20.68 (43.0 %)
Average Shares 37.07 37.07 -
Earnings Per Share before unusual items (Riyal) 0.98 0.56 (43.0 %)
EPS (Riyal) 0.98 0.56 (43.0 %)

The profit decline was driven by higher fuel and gas costs, along with raw material price volatility, which pressured margins. Saudi Paper also recorded a foreign exchange loss of SAR 2.7 million during the quarter.

 

Meanwhile, revenues fell marginally year-on-year (YoY) during Q1 2025.

 

On a sequential basis, the paper manufacturer’s net profit skyrocketed from SAR 390,000 in Q4 2024.

 

Total shareholders’ equity, after minority interest, reached SAR 533.52 million as of Q1 2025, up from SAR 508.64 million a year earlier.

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