Financial Results : Red Sea narrows 2025 loss to SAR 55M; Q4 at SAR 40.9M

Red Sea narrows 2025 loss to SAR 55M; Q4 at SAR 40.9M

31/03/2026 Argaam Exclusive

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Red Sea International Co. (RSI) lowered its net loss to SAR 55 million in 2025 from SAR 62.4 million a year earlier.



Financials (M)

Item 2024 2025 Change‬
Revenues 2,984.24 3,374.97 13.1 %
Gross Income 347.05 297.03 (14.4 %)
Operating Income 70.13 25.29 (63.9 %)
Net Income (62.37) (55.02) 11.8 %
Average Shares 30.23 34.74 14.9 %
Earnings Per Share before unusual items (Riyals) (2.06) (1.58) 23.2 %
EPS (Riyal) (2.06) (1.58) 23.2 %

The decline in losses was driven by higher revenues, supported by the fulfillment of performance obligations and increased completion rates recognized for revenue purposes.

 

In addition, the company recorded provisions for impairment of certain property, plant, equipment, and investment real estate totaling SAR 58.9 million, as well as a SAR 17.9 million provision for slow-moving inventory, based on their recoverable value and future revenue-generating potential.

 

Meanwhile, Red Sea widened Q4 2025 loss to SAR 40.87 million from SAR 7.89 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 867.57 909.10 4.8 %
Gross Income 104.77 25.51 (75.7 %)
Operating Income 39.13 (42.58) (208.8 %)
Net Income (7.89) (40.87) (417.9 %)
Average Shares 30.23 34.74 14.9 %
Earnings Per Share before unusual items (Riyal) (0.26) (1.18) (350.7 %)
EPS (Riyal) (0.26) (1.18) (350.7 %)

On a quarterly basis, the company increased its losses from SAR 1.67 million in Q3 2025.

 

Total shareholders’ equity, after minority interest, declined to SAR 1 million as of 2025-end, from SAR 7.72 million a year-earlier.

 

Accumulated losses reached SAR 336.57 million by the end of 2025, representing 69.7% of capital.

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