Financial Results : Amiantit turns to SAR 14.7M loss in 9M 2025, SAR 5.1M in Q3

Amiantit turns to SAR 14.7M loss in 9M 2025, SAR 5.1M in Q3

06/11/2025 Argaam Exclusive

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Saudi Arabian Amiantit Co. reported a net loss of SAR 14.7 million for the first nine months of 2025, compared to a net profit of SAR 492.3 million in the same period last year.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 612.30 521.79 (14.8 %)
Gross Income (11.21) 31.56 381.7 %
Operating Income (116.21) (32.72) 71.8 %
Net Income 492.29 (14.72) (103.0 %)
Average Shares 44.55 44.55 -
Earnings Per Share before unusual items (Riyals) (3.71) (0.33) 91.1 %
EPS (Riyal) 11.05 (0.33) (103.0 %)

The loss was primarily due to lower revenue. This came amid a decline in sales volumes and requests from certain customers to reschedule delivery timelines.

 

Additionally, the company had recorded exceptional accounting gains of SAR 639 million in the same period of 2024, following the settlement of 77% of its bank liabilities, which significantly boosted last year’s results.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 216.84 170.79 (21.2 %)
Gross Income 32.34 14.28 (55.8 %)
Operating Income 4.25 (8.81) (307.2 %)
Net Income 12.67 (5.10) (140.3 %)
Average Shares 44.55 44.55 -
Earnings Per Share before unusual items (Riyal) (0.13) (0.11) 10.6 %
EPS (Riyal) 0.28 (0.11) (140.3 %)

In Q3 2025, Amiantit swung to a loss of SAR 5.1 million, compared to earnings of SAR 12.67 million in Q3 2024, mainly due to lower sales volumes and delivery delays, along with the absence of a positive Zakat provision reversal recorded in the same quarter last year.

 

Sequentially, however, the company narrowed its losses from SAR 20.28 million in Q2 2025, supported by a 1.5% quarter-on-quarter increase in sales volumes, higher revenue, and improved cost management efficiency during the third quarter of 2025.

 

Shareholders’ equity, excluding minority interest, amounted to SAR 900.46 million by the end of 9M 2025, down from SAR 938.52 million a year ago.

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