Financial Results : SARCO widens H1 2025 loss to SAR 23.7M, SAR 25.8 in Q2

SARCO widens H1 2025 loss to SAR 23.7M, SAR 25.8 in Q2

10/08/2025 Argaam Exclusive

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Saudi Arabian Refineries Co. (SARCO) widened its net loss to SAR 23.7 million in the first half of 2025 from SAR 2.7 million in H1 2024.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Operating Income (2.72) (4.21) (55.1 %)
Net Income (2.65) (23.72) (793.8 %)
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyals) (0.18) 0.03 117.8 %
EPS (Riyal) (0.18) (1.58) (793.8 %)

Losses deepened during the current period due to lower revenues, as the company reported higher losses resulting from a decline in the market value of shares owned by the company.

 

It also witnessed increased operating expenses (OpEx) and higher Zakat provision.

 

This was partially offset by higher dividend income in H1 2025 from shares owned by the company, as well as an increase in the company’s share of profits from investments in an associate (Arab Tanks Terminals Co.).



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Operating Income (2.02) (1.46) 27.5 %
Net Income (2.04) (25.80) (1,166.9 %)
Average Shares 15.00 15.00 -
Earnings Per Share before unusual items (Riyal) (0.14) (0.11) 21.1 %
EPS (Riyal) (0.14) (1.72) (1,166.9 %)

In Q2 2025, losses widened to SAR 25.8 million, from SAR 2.04 million in Q2 2024.

 

Quarter-on-quarter, SARCO swung to a loss from a profit of SAR 2 million in Q1 2025.

 

Shareholders’ equity, no minority interest, stood at SAR 319.75 million by the end of H1 2025, up from SAR 415.88 million a year earlier.

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