AFG International loses SAR 505.5M in 2025, SAR 295M in Q4

AFG International Co. (formerly Fawaz Abdulaziz Alhokair Co.) widened net losses to SAR 505.5 million in 2025, from SAR 203.5 million in 2024.

The increased losses followed a 65.8% year-on-year (YoY) slump in other operating income to SAR 88.1 million by year-end. This was primarily due to the absence of non-recurring capital gains worth SAR 211 million, which were realized in 2024 as part of the company’s divestment program.

Additionally, other operating expenses spiked to SAR 173.2 million in 2025, compared to SAR 10.6 million last year, resulting from the settlement of tax liabilities, FX losses, and asset write-offs.

An impairment of goodwill worth SAR 120 million was recorded during the year, compared to SAR 95.4 million in 2024.

This came despite a 5.3% YoY revenue hike to SAR 5.1 billion in 2025. This growth was driven by international market sales, resilient performance in Saudi Arabia, and continued momentum in digital channels.

Gross profit also edged up by 2.5% to SAR 579.6 million, versus SAR 565.6 million, supported by revenue growth and the effective execution of the company’s cost optimization program amid a 4.8% annual decline in selling, general, and administrative (SG&A) expenses.

The fourth-quarter net losses deepened to SAR 295 million, compared to SAR 150.6 million in Q4 2024.

Similarly, net losses increased quarter-on-quarter from SAR 124.9 million in Q3 2025.

Total shareholders’ equity (after minority interest) stood at -SAR 1.46 billion as of Dec. 31, 2025, compared to -SAR 993.21 million a year earlier.
 
Accumulated losses reached SAR 2.11 billion by the end of the 12-month period, accounting for 184.1% of the company's capital.

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