Financial Results : Tasnee earns SAR 895.8M in Q1 2025 on loan restructuring

Tasnee earns SAR 895.8M in Q1 2025 on loan restructuring

12/05/2025 Argaam Exclusive

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National Industrialization Co. (Tasnee) swung to a net profit of SAR 895.8 million in Q1 2025, against a net loss of SAR 72.1 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 761.40 862.65 13.3 %
Gross Income 19.56 69.31 254.3 %
Operating Income (112.96) (83.73) 25.9 %
Net Income (72.05) 895.81 1343.3 %
Average Shares 668.91 668.91 -
Earnings Per Share before unusual items (Riyal) (0.11) (0.25) (129.3 %)
EPS (Riyal) (0.11) 1.34 1343.3 %

The company noted a significant increase in revenues, primarily driven by higher sales volumes for most products, despite a decline in the average selling prices of certain products.

 

Tasnee also reported a non-recurring and non-cash positive impact from the restructuring of loans related to the Acrylic Complex, higher sales volumes for most products, and a decrease in Zakat provisions.

 

This was partially offset by lower average selling prices of some products, a decrease in the company’s share of profits from joint ventures, an increase in its share of losses from a subsidiary (Tronox), and higher net finance costs (FCs).

 

Tasnee’s net profit saw a spike from SAR 33 million in Q4 2024.

 

Total shareholders’ equity, after excluding minority interest, came in at SAR 10.48 billion as of March 31, 2025, up from SAR 9.53 billion in the prior-year period.

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