Financial Results : FIPCO turns to SAR 17.9M loss in 9M 2025; Q3 at SAR 2.8M

FIPCO turns to SAR 17.9M loss in 9M 2025; Q3 at SAR 2.8M

06/11/2025 Argaam Exclusive

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Filling & Packing Materials Co. (FIPCO) logged a SAR 17.9 million net loss in the first nine months of 2025, against a profit of SAR 3.4 million in the same period a year earlier.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 178.31 182.70 2.5 %
Gross Income 35.60 28.00 (21.3 %)
Operating Income 7.70 (13.50) (275.3 %)
Net Income 3.40 (17.90) (626.5 %)
Average Shares 11.50 11.50 -
Earnings Per Share before unusual items (Riyals) 0.30 (1.56) (626.5 %)
EPS (Riyal) 0.30 (1.56) (626.5 %)

These losses were attributed to a decline in sales volume, coupled with a diversified sales mix and lower profit margins.

 

The company also saw an increase in general and administrative (G&A) expenses because of settling the financial and legal due diligence expenses paid to the financial advisor pertaining to the acquisition of the entire equity interests in Bina Industrial Investment Holding Co.

 

This came despite the rise in the parent company’s gross sales and the decline in Zakat provision.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 59.50 62.90 5.7 %
Gross Income 11.00 10.60 (3.6 %)
Operating Income 1.80 (1.10) (161.1 %)
Net Income 0.30 (2.80) (1033.3 %)
Average Shares 11.50 11.50 -
Earnings Per Share before unusual items (Riyal) 0.03 (0.24) (1033.3 %)
EPS (Riyal) 0.03 (0.24) (1033.3 %)

In Q3 2025, the company experienced a loss of SAR 2.8 million, compared to a profit of SAR 300,000 in the same quarter last year.

 

Sequentially, the company’s losses decline 75.7% compared to SAR 11.5 million losses in Q2 2025.

 

Total shareholders’ equity (no minority interest) amounted to SAR 127.5 million as of Sept. 30, 2025, compared to SAR 147.1 million in the same period a year earlier.

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