Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) widened its net loss (excluding minority interest) to SAR 85.6 million in H1 2025, from SAR 70.9 million a year earlier.
The net loss (before minority interest) reached SAR 83.2 million by the end of H1 2025, compared to SAR 67.6 million in H1 2024.
Item | 6m 2024 | 6m 2025 | Change |
---|---|---|---|
Revenues | 2,413.90 | 2,463.07 | 2.0 % |
Gross Income | 301.94 | 366.96 | 21.5 % |
Operating Income | 9.07 | 117.30 | 1192.8 % |
Net Income | (70.88) | (85.55) | (20.7 %) |
Average Shares | 114.77 | 114.77 | - |
Earnings Per Share before unusual items (Riyals) | (2.11) | (0.94) | 55.6 % |
EPS (Riyal) | (0.62) | (0.75) | (20.7 %) |
Revenue from the food and beverage segment fell 4% year-on-year (YoY) to SAR 163 million. Other operating income also decreased, as H1 2024 had benefited from significant capital gains from the divestment of non-core brands, the retailer said.
Other operating expenses surged by 144%, mainly due to foreign exchange losses from a stronger euro and tax settlements.
Total retail revenue in Saudi Arabia reached SAR 1.6 billion in H1 2025, marking a 3% YoY drop, as broader promotions in H1 2024 had boosted sales.
Meanwhile, the group-wide topline rose by 2% YoY to SAR 2.41 billion.
International retail revenue grew by 18%, supported by strong performance in Uzbekistan, Georgia, and Azerbaijan.
Online revenue increased by 16% to SAR 196 million, driven by strong sales from Zara and other Inditex brands, as well as Cinnabon and Subway.
Gross profit advanced by 22% to SAR 367 million, with the margin improving from 13% to 15%, thanks to cost-efficiency measures.
Selling, general, and administrative expenses declined by 21% to SAR 182 million, representing 7% of sales compared to 9% in the previous year.
Item | Q2 2024 | Q2 2025 | Change |
---|---|---|---|
Revenues | 1,213.39 | 1,128.32 | (7.0 %) |
Gross Income | 207.35 | 189.13 | (8.8 %) |
Operating Income | 72.91 | 57.09 | (21.7 %) |
Net Income | 80.93 | (87.36) | (207.9 %) |
Average Shares | 114.77 | 114.77 | - |
Earnings Per Share before unusual items (Riyal) | (0.48) | (0.76) | (57.3 %) |
EPS (Riyal) | 0.71 | (0.76) | (207.9 %) |
Item | Q1 2025 | Q2 2025 | Change |
---|---|---|---|
Revenues | 1,334.75 | 1,128.32 | (15.5 %) |
Gross Income | 177.83 | 189.13 | 6.4 % |
Operating Income | 60.21 | 57.09 | (5.2 %) |
Net Income | 1.81 | (87.36) | (4923.6 %) |
Average Shares | 114.77 | 114.77 | - |
Earnings Per Share before unusual items (Riyal) | (0.17) | (0.76) | (335.3 %) |
EPS (Riyal) | 0.02 | (0.76) | (4923.6 %) |
In Q2 2025, Cenomi Retail turned to a net loss of SAR 87.4 million, versus a net profit of SAR 80.93 million in Q2 2024.
The company had posted profits of SAR 1.81 million in Q1 2025.
Total shareholders’ equity (after minority interest) stood at SAR -1.06 billion by the end of the current period, compared to SAR -904.85 million a year earlier.
Accumulated losses at the end of H1 2025 amounted to SAR 1.69 billion, representing 147.5% of capital.
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