Financial Results : Wafrah swings to losses of SAR 11M in H1 2025, SAR 15.5M in Q2

Wafrah swings to losses of SAR 11M in H1 2025, SAR 15.5M in Q2

20/07/2025 Argaam Exclusive

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​Wafrah for Industry and Development Co. reported a net loss of SAR 11 million for H1 2025, versus SAR 16.7 million in profits a year ago.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 85.88 69.93 (18.6 %)
Gross Income 31.19 13.94 (55.3 %)
Operating Income 8.69 (13.12) (251.0 %)
Net Income 16.74 (11.00) (165.7 %)
Average Shares 23.15 23.15 -
Earnings Per Share before unusual items (Riyals) 0.40 (0.46) (214.8 %)
EPS (Riyal) 0.72 (0.48) (165.7 %)

These losses were due to a 19% year-on-year (YoY) decrease in the six-month sales. This came as a result of restructuring the sales management and adjusting the sales and credit policies for customers to boost near-term efficiency.

 

The Saudi-listed company also witnessed a decline in selling prices and sales volumes of the potato sticks products in H1 2025. In addition, it is facing new market entrants in the pasta division, compared to the same period in 2024, which pushed pasta products’ sales volumes lower.

 

These factors combined have led to a 26% fall in sales from the pasta factory. Another 30% and 4% sales drops were witnessed in the vegetables and the breakfast cereals plants, respectively.

 

This negative performance came despite a 106% YoY leap in sales from the meat factory during the first six months of 2025.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 31.76 12.44 (60.8 %)
Gross Income 9.31 (2.53) (127.2 %)
Operating Income (1.00) (17.86) (1,688.6 %)
Net Income 6.09 (15.47) (353.9 %)
Average Shares 23.15 23.15 -
Earnings Per Share before unusual items (Riyal) (0.01) (0.64) (8,497.2 %)
EPS (Riyal) 0.26 (0.67) (353.9 %)

In Q2 2025, Wafrah also swung to net losses of SAR 15.47 million, against a SAR 6.09 million profit in the year before, in tandem with a 61% YoY sales slump.

 

Net earnings amounted to SAR 4.47 million in Q1 2025.

 

Shareholders’ equity, no minority interest, fell to SAR 227.95 million by June 30, 2025, from SAR 249.19 million a year earlier.

 

By the end of H1 2025, accumulated losses reached SAR 3.5 million, making up 1.53% of the company's capital. 

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