Financial Results : Aslak H1 2025 profit down 88% to SAR 1.2M; Q2 at SAR 1.9M

Aslak H1 2025 profit down 88% to SAR 1.2M; Q2 at SAR 1.9M

10/08/2025 Argaam Exclusive

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United Wire Factories Co. (Aslak) reported a net profit decline of 88% to SAR 1.2 million in the first half of 2025, compared to SAR 10.3 million in the corresponding period last year.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 361.36 346.22 (4.2 %)
Gross Income 30.56 22.29 (27.1 %)
Operating Income 12.09 1.28 (89.4 %)
Net Income 10.25 1.24 (87.9 %)
Average Shares 28.08 28.08 -
Earnings Per Share before unusual items (Riyals) 0.37 0.04 (87.9 %)
EPS (Riyal) 0.37 0.04 (87.9 %)

The annual drop in the first-half profit was due to weaker sales, despite the rise in investment gains for the same period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 174.15 181.40 4.2 %
Gross Income 14.64 11.77 (19.6 %)
Operating Income 5.28 1.53 (71.1 %)
Net Income 4.18 1.87 (55.3 %)
Average Shares 28.08 28.08 -
Earnings Per Share before unusual items (Riyal) 0.15 0.07 (55.3 %)
EPS (Riyal) 0.15 0.07 (55.3 %)

In Q2 2025, net earnings dropped 55% to SAR 1.9 million, from SAR 4.18 million in the second quarter of 2024, hurt by the pullback in profit margins during the three-month period.

 

On a sequential basis, meanwhile, Aslak turned profitable from a SAR 623,000 loss in Q1 2025, as sales grew quarter-on-quarter on stronger sales volumes.

 

Shareholders’ equity, after minority interest, reached SAR 368.8 million as of June 30, 2025, compared to SAR 382.2 million a year earlier.

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