Financial Results : Red Sea makes SAR 1.9M profit in H1 2025, SAR 6.4M in Q2

Red Sea makes SAR 1.9M profit in H1 2025, SAR 6.4M in Q2

11/08/2025 Argaam Exclusive

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Red Sea International Co. turned to net profits before minority interest of SAR 1.9 million in the first half of 2025, against net losses of SAR 2.8 million in the year-earlier period.


Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 1,410.95 1,479.85 4.9 %
Gross Income 168.49 182.98 8.6 %
Operating Income 29.70 42.83 44.2 %
Net Income (24.08) (12.48) 48.2 %
Average Shares 30.23 30.23 -
Earnings Per Share before unusual items (Riyals) (0.80) (0.41) 48.2 %
EPS (Riyal) (0.80) (0.41) 48.2 %

This came thanks to improved revenues for the six-month period. This was mainly attributed to the company’s satisfaction of performance obligations and the revenue-generating project completion rates.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 751.74 779.18 3.7 %
Gross Income 101.34 90.48 (10.7 %)
Operating Income 26.43 23.72 (10.3 %)
Net Income (5.15) (1.26) 75.6 %
Average Shares 30.23 30.23 -
Earnings Per Share before unusual items (Riyal) (0.17) (0.04) 75.6 %
EPS (Riyal) (0.17) (0.04) 75.6 %

In Q2 2025, net earnings dropped 30.6% to SAR 6.4 million, from SAR 9.2 million in Q2 2024.

 

On a sequential basis, Red Sea turned profitable from a net loss of SAR 4.53 million.

 

Total shareholders’ equity, after minority interest, declined to SAR -4.91 million as of June 30, 2025, from SAR 46.75 million a year earlier.

 

Accumulated losses represented 97.73%, (SAR 295.48 million) of the company’s capital by the end of H1 2025.

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