Financial Results : Maadaniyah narrows losses to SAR 3.2M in Q1 2025

Maadaniyah narrows losses to SAR 3.2M in Q1 2025

13/05/2025 Argaam Exclusive

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National Metal Manufacturing and Casting Co. (Maadaniyah) reported a net loss of SAR 3.2 million for Q1 2025, down from a loss of SAR 7.4 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 62.33 70.14 12.5 %
Gross Income 3.11 5.82 86.9 %
Operating Income (3.84) (2.26) 41.2 %
Net Income (7.39) (3.19) 56.8 %
Average Shares 35.40 35.40 -
Earnings Per Share before unusual items (Riyal) (0.21) (0.09) 56.8 %
EPS (Riyal) (0.21) (0.09) 56.8 %

The improved performance was due to strong sales, driven by a 28% leap year-on-year (YoY) in sales of drawn wire products, along with an increase in reversal of expected credit losses, a rise in other income, and a decrease in Zakat provisions. This is in addition to a decrease in losses from discontinued operations.

 

Sequentially, the company cut losses from SAR 12.18 million in Q4 2024, fueled by strong sales.

 

Total shareholders’ equity, no minority interest, declined to SAR 242.2 million as of March 31, 2025, from SAR 276.8 million in the year before.

 

Accumulated losses stood at SAR 111.7 million by the end of Q1 2025, representing 31.56% of Maadaniyah’s SAR 354 million capital.

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