Financial Results : SPIMACO Q1 2025 net profit soars 90% to SAR 75.1M

SPIMACO Q1 2025 net profit soars 90% to SAR 75.1M

12/05/2025 Argaam Exclusive

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Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) reported a net profit of SAR 75.1 million (before excluding minority interests) in Q1 2025, a surge of 90% compared to SAR 39.5 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 475.96 484.84 1.9 %
Gross Income 251.14 228.90 (8.9 %)
Operating Income 73.56 62.70 (14.8 %)
Net Income 35.35 70.83 100.4 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items (Riyal) 0.29 0.42 43.7 %
EPS (Riyal) 0.29 0.59 100.4 %

Q1 revenue increased by 2%, or SAR 8.9 million, to SAR 484.8 million, mainly driven by modest growth in domestic sales, particularly from the government sector.

 

The company also noted a decline of 8.6% year-on-year (YoY) in selling, general and administrative expenses (SG&A) to SAR 138.2 million, a drop of 25.9% YoY in research and development expenses and 50.9% higher operating profit YoY. Additionally, other income amounted to SAR 21.8 million in Q1 2025, compared to other expenses at SAR 17.5 million in Q1 2024, mainly due to gains on selling fixed assets in Q1 2025.

 

On a sequential basis, the company swung to a profit versus a net loss of SAR 35.9 million in Q4 2024.

 

Total shareholders’ equity, after minority interest, stood at SAR 1.45 billion as of March 31, 2025, compared to SAR 1.41 billion a year earlier.

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