Financial Results : ARTEX swings to profit of SAR 2.7M in H1 2025; Q2 loss at SAR 3M

ARTEX swings to profit of SAR 2.7M in H1 2025; Q2 loss at SAR 3M

07/08/2025 Argaam Exclusive

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ARTEX Industrial Investment Co. turned to a net profit of SAR 2.7 million in H1 2025, versus a loss of SAR 7.6 million a year earlier.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 263.02 286.68 9.0 %
Gross Income 21.33 40.20 88.4 %
Operating Income 2.32 23.02 891.8 %
Net Income (7.60) 2.73 135.9 %
Average Shares 81.25 81.25 -
Earnings Per Share before unusual items (Riyals) (0.09) 0.03 135.9 %
EPS (Riyal) (0.09) 0.03 135.9 %

The return to profitability was driven by a nearly 9% year-on-year (YoY) increase in revenue, supported by higher local sales volumes, improved pricing, better raw material costs, and effective cost control measures implemented by management.

 

In Q2 2025, ARTEX narrowed its net losses to SAR 3 million, from SAR 9.04 million in the year before, as sales rose around 4% YoY due to stronger local demand and better pricing.

 

Moreover, management remains optimistic despite fierce competition in the carpet industry. It is expected that the recent production capacity expansion will continue supporting revenue.

 

Q2 2025 also saw an operating profit of SAR 2.5 million, compared to an operating loss of SAR 3.85 million in the same period last year.

 

Sequentially, the company turned to losses versus a profit of SAR 5.7 million in Q1 2025, mainly due to a 31% quarter-on-quarter (QoQ) revenue drop amid seasonality. The positive contribution from increased production capacity is expected to prevail going forward.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 112.55 116.86 3.8 %
Gross Income 2.71 8.96 230.2 %
Operating Income (5.90) 1.09 118.4 %
Net Income (9.04) (2.97) 67.1 %
Average Shares 81.25 81.25 -
Earnings Per Share before unusual items (Riyal) (0.11) (0.04) 67.1 %
EPS (Riyal) (0.11) (0.04) 67.1 %

Total shareholders’ equity, no minority interest, fell to SAR 1.04 billion by the end of H1 2025, from SAR 1.19 billion a year earlier.

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