Financial Results : GASCO profit drops 21% to SAR 62M in Q1 2025

GASCO profit drops 21% to SAR 62M in Q1 2025

12/05/2025 Argaam Exclusive

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Natural Gas and Industrialization Co. (GASCO) posted a 21% decline in its Q1 2025 net earnings to SAR 62 million, compared with SAR 78.6 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 706.83 837.57 18.5 %
Gross Income 99.49 115.32 15.9 %
Operating Income 53.74 54.67 1.7 %
Net Income 78.61 61.90 (21.3 %)
Average Shares 75.00 75.00 -
Earnings Per Share before unusual items (Riyal) 1.05 0.91 (12.9 %)
EPS (Riyal) 1.05 0.83 (21.3 %)

The Saudi natural gas distributor reported a year-on-year (YoY) increase of SAR 15 million in the first-quarter operating expenses. It also recorded annual drops of SAR 17.8 million and SAR 2 million in investment and finance income, as well as other income, respectively.

 

Meanwhile, finance and Zakat expenses soared YoY by SAR 700,000 and SAR 600,000, respectively, by the end of the first three months of 2025.

 

On the other hand, the Q1 2025 revenues rose by SAR 131 million YoY as the three-month gross profit witnessed a SAR 15.8 million hike on an annual basis.

 

On a quarterly basis, however, the three-month net earnings grew by 3.1% from SAR 60 million in Q4 2024, thanks to an increase of SAR 39 million in revenues on a sequential basis. Gross profit also jumped by SAR 18.3 million quarter-on-quarter (QoQ). Operating and finance expenses decreased QoQ by SAR 4.9 million and SAR 300,000, respectively.

 

Total shareholders’ equity, no minority interest, inched up to SAR 1.94 billion as of March 31, 2025, compared to SAR 1.93 billion a year earlier.

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