Financial Results : Maaden makes SAR 7.35B profit in 2025, SAR 1.67B in Q4

Maaden makes SAR 7.35B profit in 2025, SAR 1.67B in Q4

05/03/2026 Argaam Exclusive

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Saudi Arabian Mining Co. (Maaden) posted a net profit of SAR 7.35 billion in 2025, leaping from SAR 2.87 billion a year earlier.



Financials (M)

Item 2024 2025 Change‬
Revenues 32,546.16 38,577.73 18.5 %
Gross Income 9,244.16 14,791.90 60.0 %
Operating Income 6,254.63 10,352.78 65.5 %
Net Income 2,871.54 7,347.88 155.9 %
Average Shares 3,802.79 3,845.77 1.1 %
Earnings Per Share before unusual items (Riyals) 0.97 1.97 102.8 %
EPS (Riyal) 0.76 1.91 153.0 %

The company attributed the annual profit spike to revenues rising by 19% (or SAR 6.03 billion) on a year-on-year (YoY) basis. This positive performance was driven by higher selling prices across its phosphate, aluminum, and gold business units, as well as increased sales volumes for phosphate and aluminum, albeit partly offset by a slight decline in gold volumes.

 

The 2025 gross profit also rose 60% YoY, or SAR 5.55 billion, supported by the higher selling prices and sales volumes.

 

Profitability was further strengthened by the company’s share in net income from joint ventures and associates, including recognizing a one-off gain of SAR 768 million from investment in Aluminium Bahrain Co., alongside lower financing costs.

 

In Q4 2025, Maaden turned to a net profit of SAR 1.67 billion, versus a SAR 105.4 million loss in the prior-year period.

 

However, net earnings dropped 24% quarter-on-quarter (QoQ) from SAR 2.2 billion in Q3 2025.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 9,969.18 10,639.73 6.7 %
Gross Income 2,239.86 4,119.17 83.9 %
Operating Income 950.78 2,576.19 171.0 %
Net Income (105.64) 1,670.95 1681.7 %
Average Shares 3,802.79 3,845.77 1.1 %
Earnings Per Share before unusual items (Riyal) 0.35 0.50 40.9 %
EPS (Riyal) (0.03) 0.43 1664.0 %

Total shareholders’ equity, after minority interest, increased to SAR 61.59 billion as of Dec. 31, 2025, from SAR 51.89 billion a year earlier.

 

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