Financial Results : Amiantit makes SAR 10.7M profit in Q1 2025 

Amiantit makes SAR 10.7M profit in Q1 2025 

13/05/2025 Argaam Exclusive

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Saudi Arabian Amiantit Co. posted a net profit of SAR 10.7 million in Q1 2025, compared with SAR 474.5 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 200.19 182.77 (8.7 %)
Gross Income (70.89) 13.21 118.6 %
Operating Income (137.27) (6.77) 95.1 %
Net Income 474.51 10.66 (97.8 %)
Average Shares 44.55 44.55 -
Earnings Per Share before unusual items (Riyal) (3.69) 0.24 106.5 %
EPS (Riyal) 10.65 0.24 (97.8 %)

The year-ago figure included a one-off accounting profit of SAR 639 million, resulting from the settlement of 77% of the company’s total debt.

 

The decline was also due to weak sales, as the company undertook upgrades to its production machinery to boost long-term capacity and efficiency, which led to a temporary slowdown in output.

 

However, gross profit soared 118.6% year-on-year and financing expenses dropped 48.6% due to the company’s paying off its entire debt to the Saudi National Bank.

 

On a sequential basis, Amiantit turned profitable from a loss of SAR 52.46 million in Q4 2024.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 908.2 million as of March 31, 2025, compared with SAR 904.6 million in the year-earlier period.

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