Financial Results : SIIG profit drops 36% to SAR 18M in Q1 2025

SIIG profit drops 36% to SAR 18M in Q1 2025

08/05/2025 Argaam Exclusive

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Saudi Industrial Investment Group’s (SIIG) net profit declined 35.7% to SAR 18 million in Q1 2025 from SAR 28 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Operating Income (11.84) (11.67) 1.4 %
Net Income 27.53 18.23 (33.8 %)
Average Shares 679.32 679.32 -
Earnings Per Share before unusual items (Riyal) 0.04 0.03 (33.8 %)
EPS (Riyal) 0.04 0.03 (33.8 %)

The decline in profit was due to lower earnings from the group’s investments in joint ventures (S-Chem) during the quarter. This was attributed to lower selling prices and higher feedstock and energy costs.

 

However, sales volumes improved in Q1 2025, as the comparable quarter last year included a scheduled maintenance shutdown.

 

On the other hand, Zakat expenses decreased during the current quarter and returns from Islamic Murabaha investments increased.

 

On a quarterly basis, net earnings soared 59.9% from SAR 11.26 million in Q4 2024, boosted by higher profits from SIIG’s investments in S-Chem. This resulted from the unplanned shutdown in the previous quarter of the “Saudi Polymers Company” project, in addition to improved selling prices for styrene and a rise in sales volumes in Q1 2025.

 

In addition, general and administrative (G&A) expenses declined during the current quarter.

 

Total shareholders’ equity, no minority interest, declined to SAR 9.85 billion as of March 31, 2025, from SAR 10.05 billion a year earlier.

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