Financial Results : SIDC widens losses to SAR 17.7M in H1 2025, SAR 8.3M in Q2

SIDC widens losses to SAR 17.7M in H1 2025, SAR 8.3M in Q2

07/09/2025 Argaam Exclusive

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Saudi Industrial Development Co. (SIDC) widened its net losses to SAR 17.7 million in the first half of 2025, from SAR 8.6 million in the year-ago period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 71.99 52.23 (27.4 %)
Gross Income 16.00 7.95 (50.3 %)
Operating Income (11.15) (16.54) (48.3 %)
Net Income (8.64) (17.74) (105.2 %)
Average Shares 13.50 13.50 -
Earnings Per Share before unusual items (Riyals) (0.64) (1.31) (105.2 %)
EPS (Riyal) (0.64) (1.31) (105.2 %)

SIDC attributed the higher losses year-on-year to lower sales due to a decline in revenue from the mattress and foam segment.

 

The second-quarter net losses also deepened by 11.6% to SAR 8.3 million, from SAR 7.4 million in Q2 2024, on a drop in the quarterly sales of the mattress and foam segment.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 28.81 28.07 (2.6 %)
Gross Income 3.46 4.93 42.7 %
Operating Income (7.75) (7.34) 5.3 %
Net Income (7.44) (8.30) (11.6 %)
Average Shares 13.50 13.50 -
Earnings Per Share before unusual items (Riyal) (0.55) (0.61) (11.6 %)
EPS (Riyal) (0.55) (0.61) (11.6 %)

On a sequential basis, however, net losses narrowed by 12.1% from SAR 9.4 million in Q1 2025.

 

Shareholders’ equity, after minority interest, dropped to SAR 54.04 million as of June 30, 2025, compared to SAR 79.81 million a year earlier.

 

Accumulated losses reached SAR 23.06 million by the end of the six-month period, representing 17.08% of the company’s capital.

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