Saudi Printing narrows H1 2025 net loss to SAR 55.6M; Q2 at SAR 31.2M

03/08/2025 Argaam Exclusive

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Saudi Printing and Packaging Co. (SPPC) trimmed its H1 2025 net loss to SAR 55.6 million, from SAR 93.7 million in the year-earlier period.

Financials (M)

Item	6m 2024	6m 2025	Change‬
Revenues	361.35	325.09	(10.0 %)
Gross Income	22.16	20.11	(9.2 %)
Operating Income	(32.87)	(33.80)	(2.8 %)
Net Income	(93.74)	(55.58)	40.7 %
Average Shares	60.00	60.00	-
Earnings Per Share before unusual items (Riyals)	(1.08)	(0.93)	14.6 %
EPS (Riyal)	(1.56)	(0.93)	40.7 %

The decline in losses was mainly driven by a decrease in the value of property, equipment, and unproductive spare parts inventory in the same period last year in the printing segment.

This is in addition to the reduction in the printing segment's business operations, which was reflected in lower expenses besides softer financing costs on the settlement of a portion of long-term loans.

This came despite a weaker topline for H1 2025. This was due to lower revenues in the printing segment on the curtailment of the segment's business operations, in addition to the decrease in revenues in the packaging segment due to the failure to secure some planned projects.

In Q2 2025, the Saudi-listed company posted net losses of SAR 31.2 million, down from SAR 71.12 million in Q2 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2024	Q2 2025	Change‬
Revenues	174.45	160.20	(8.2 %)
Gross Income	6.22	8.14	31.0 %
Operating Income	(23.08)	(20.31)	12.0 %
Net Income	(71.12)	(31.18)	56.2 %
Average Shares	60.00	60.00	-
Earnings Per Share before unusual items (Riyal)	(0.71)	(0.52)	26.6 %
EPS (Riyal)	(1.19)	(0.52)	56.2 %

Item	Q1 2025	Q2 2025	Change‬
Revenues	164.90	160.20	(2.8 %)
Gross Income	11.97	8.14	(32.0 %)
Operating Income	(13.48)	(20.31)	(50.7 %)
Net Income	(24.40)	(31.18)	(27.8 %)
Average Shares	60.00	60.00	-
Earnings Per Share before unusual items (Riyal)	(0.41)	(0.52)	(27.8 %)
EPS (Riyal)	(0.41)	(0.52)	(27.8 %)

On a quarterly basis, however, the three-month losses soared from SAR 24.4 million in Q1 2025, on the back of increased general & administrative as well as selling & marketing expenses.

Total shareholders’ equity, no minority interest, fell to SAR 225.89 million by June 30, 2025, compared to SAR 407.74 million a year ago.

By the end of the first six months of 2025, accumulated losses reached SAR 376.69 million, making up 62.78% of capital.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2016	254.40	(10.0 %)	55.46	(10.5 %)	10.50	(19.4 %)
Q2 2016	259.38	(11.1 %)	55.65	(18.2 %)	11.82	(52.8 %)
Q3 2016	251.33	(2.5 %)	40.49	(27.7 %)	(0.34)	(103.9 %)
Q4 2016	240.29	(12.7 %)	37.63	(18.8 %)	(15.92)	(59.8 %)
2016	1,005.39	(9.2 %)	189.23	(18.7 %)	6.07	(85.4 %)
Q1 2017	242.31	(4.8 %)	40.33	(27.3 %)	(3.67)	(134.9 %)
Q2 2017	253.08	(2.4 %)	40.06	(28.0 %)	2.63	(77.8 %)
Q3 2017	251.48	0.1 %	41.74	3.1 %	7.18	2223.4 %
Q4 2017	244.81	1.9 %	35.16	(6.6 %)	(5.35)	66.4 %
2017	991.68	(1.4 %)	157.29	(16.9 %)	6.41	5.7 %
Q1 2018	202.57	(16.4 %)	25.02	(38.0 %)	(6.05)	(65.1 %)
Q2 2018	256.11	1.2 %	37.75	(5.8 %)	6.25	137.8 %
Q3 2018	276.34	9.9 %	30.63	(26.6 %)	0.39	(94.6 %)
Q4 2018	283.47	15.8 %	30.51	(13.2 %)	(3.48)	35.0 %
2018	1,018.49	2.7 %	123.91	(21.2 %)	(2.89)	(145.1 %)
Q1 2019	202.04	(0.3 %)	21.16	(15.4 %)	(8.75)	(44.6 %)
Q2 2019	237.62	(7.2 %)	29.23	(22.6 %)	(0.44)	(107.1 %)
Q3 2019	252.51	(8.6 %)	46.06	50.4 %	15.18	3791.3 %
Q4 2019	232.17	(18.1 %)	34.62	13.5 %	0.97	127.8 %
2019	924.34	(9.2 %)	131.06	5.8 %	6.95	340.4 %
Q1 2020	194.27	(3.8 %)	26.89	27.1 %	(3.05)	65.2 %
Q2 2020	199.63	(16.0 %)	37.40	28.0 %	8.58	2041.0 %
Q3 2020	204.45	(19.0 %)	38.23	(17.0 %)	8.54	(43.7 %)
Q4 2020	169.34	(27.1 %)	25.83	(25.4 %)	(0.11)	(111.7 %)
2020	767.69	(16.9 %)	127.42	(2.8 %)	13.96	100.8 %
Q1 2021	173.44	(10.7 %)	22.87	(14.9 %)	(5.17)	(69.7 %)
Q2 2021	194.21	(2.7 %)	21.34	(42.9 %)	(6.26)	(172.9 %)
Q3 2021	203.61	(0.4 %)	19.14	(49.9 %)	(8.74)	(202.4 %)
Q4 2021	212.38	25.4 %	25.62	(0.8 %)	(3.02)	(2,571.7 %)
2021	783.64	2.1 %	88.98	(30.2 %)	(23.19)	(266.1 %)
Q1 2022	236.42	36.3 %	34.20	49.5 %	0.06	101.2 %
Q2 2022	270.24	39.1 %	40.49	89.8 %	10.23	263.6 %
Q3 2022	261.15	28.3 %	35.64	86.2 %	3.70	142.3 %
Q4 2022	232.29	9.4 %	32.07	25.1 %	5.72	289.4 %
2022	1,000.09	27.6 %	142.39	60.0 %	19.71	185.0 %
Q1 2023	210.93	(10.8 %)	28.60	(16.4 %)	(1.62)	(2719.5 %)
Q2 2023	191.89	(29.0 %)	22.22	(45.1 %)	(5.85)	(157.1 %)
Q3 2023	204.26	(21.8 %)	18.43	(48.3 %)	(7.61)	(305.6 %)
Q4 2023	172.08	(25.9 %)	(2.11)	(106.6 %)	(22.23)	(488.8 %)
2023	779.16	(22.1 %)	67.14	(52.9 %)	(37.31)	(289.3 %)
Q1 2024	186.90	(11.4 %)	15.95	(44.2 %)	(9.80)	(503.1 %)
Q2 2024	174.45	(9.1 %)	6.22	(72.0 %)	(23.08)	(294.8 %)
Q3 2024	180.34	(11.7 %)	7.28	(60.5 %)	(22.56)	(196.6 %)
Q4 2024	179.51	4.3 %	(5.16)	(144.5 %)	(20.13)	9.5 %
2024	721.20	(7.4 %)	35.74	(46.8 %)	(75.56)	(102.5 %)
Q1 2025	164.90	(11.8 %)	11.97	(24.9 %)	(13.48)	(37.6 %)
Q2 2025	160.20	(8.2 %)	8.14	31.0 %	(20.31)	12.0 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	1,107.76	(10.1 %)	232.84	(4.7 %)	41.55	(39.2 %)
2016	1,005.39	(9.2 %)	189.23	(18.7 %)	6.07	(85.4 %)
2017	991.68	(1.4 %)	157.29	(16.9 %)	6.41	5.7 %
2018	1,018.49	2.7 %	123.91	(21.2 %)	(2.89)	(145.1 %)
2019	924.34	(9.2 %)	131.06	5.8 %	6.95	340.4 %
2020	767.69	(16.9 %)	127.42	(2.8 %)	13.96	100.8 %
2021	783.64	2.1 %	88.98	(30.2 %)	(23.19)	(266.1 %)
2022	1,000.09	27.6 %	142.39	60.0 %	19.71	185.0 %
2023	779.16	(22.1 %)	67.14	(52.9 %)	(37.31)	(289.3 %)
2024	721.20	(7.4 %)	35.74	(46.8 %)	(75.56)	(102.5 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
Q1 2016	3.82	(67.1 %)	0.06	5.71	(1.89)	(0.03)
Q2 2016	0.39	(98.6 %)	0.01	1.41	(1.02)	(0.02)
Q3 2016	(11.51)	(205.6 %)	(0.19)	-	(11.51)	(0.19)
Q4 2016	(26.16)	12.1 %	(0.44)	-	(26.16)	(0.44)
2016	(33.46)	(254.5 %)	(0.56)	7.11	(40.57)	(0.68)
Q1 2017	(15.80)	(514.2 %)	(0.26)	-	(15.80)	(0.26)
Q2 2017	(12.81)	(3385.4 %)	(0.21)	-	(12.81)	(0.21)
Q3 2017	(4.58)	60.2 %	(0.08)	-	(4.58)	(0.08)
Q4 2017	(36.26)	(38.6 %)	(0.60)	(20.31)	(15.96)	(0.27)
2017	(69.45)	(107.6 %)	(1.16)	(20.31)	(49.15)	(0.82)
Q1 2018	(18.66)	(18.1 %)	(0.31)	-	(18.66)	(0.31)
Q2 2018	(3.07)	76.1 %	(0.05)	-	(3.07)	(0.05)
Q3 2018	(11.83)	(158.6 %)	(0.20)	-	(11.83)	(0.20)
Q4 2018	(20.81)	42.6 %	(0.35)	-	(20.81)	(0.35)
2018	(54.37)	21.7 %	(0.91)	-	(54.37)	(0.91)
Q1 2019	(23.02)	(23.4 %)	(0.38)	-	(23.02)	(0.38)
Q2 2019	(13.69)	(346.6 %)	(0.23)	-	(13.69)	(0.23)
Q3 2019	2.71	122.9 %	0.05	-	2.71	0.05
Q4 2019	(4.76)	77.1 %	(0.08)	7.42	(12.18)	(0.20)
2019	(38.76)	28.7 %	(0.65)	7.42	(46.18)	(0.77)
Q1 2020	(14.91)	35.2 %	(0.25)	-	(14.91)	(0.25)
Q2 2020	1.49	110.9 %	0.02	-	1.49	0.02
Q3 2020	1.82	(32.6 %)	0.03	-	1.82	0.03
Q4 2020	(8.95)	(88.0 %)	(0.15)	-	(8.95)	(0.15)
2020	(20.55)	47.0 %	(0.34)	-	(20.55)	(0.34)
Q1 2021	(13.56)	9.1 %	(0.23)	-	(13.56)	(0.23)
Q2 2021	(15.35)	(1128.3 %)	(0.26)	-	(15.35)	(0.26)
Q3 2021	(17.75)	(1073.2 %)	(0.30)	-	(17.75)	(0.30)
Q4 2021	(12.64)	(41.2 %)	(0.21)	-	(12.64)	(0.21)
2021	(59.30)	(188.6 %)	(0.99)	-	(59.30)	(0.99)
Q1 2022	(3.28)	75.8 %	(0.05)	5.10	(8.38)	(0.14)
Q2 2022	0.90	105.9 %	0.02	-	0.90	0.02
Q3 2022	(3.86)	78.2 %	(0.06)	3.06	(6.92)	(0.12)
Q4 2022	(2.97)	76.5 %	(0.05)	0.51	(3.48)	(0.06)
2022	(9.22)	84.5 %	(0.15)	8.67	(17.89)	(0.30)
Q1 2023	(15.32)	(367.0 %)	(0.26)	-	(15.32)	(0.26)
Q2 2023	(20.12)	(2335.8 %)	(0.34)	-	(20.12)	(0.34)
Q3 2023	(21.91)	(466.9 %)	(0.37)	-	(21.91)	(0.37)
Q4 2023	(74.96)	(2,419.6 %)	(1.25)	(36.02)	(38.94)	(0.65)
2023	(132.30)	(1,335.0 %)	(2.21)	(36.02)	(96.28)	(1.60)
Q1 2024	(22.62)	(47.7 %)	(0.38)	-	(22.62)	(0.38)
Q2 2024	(71.12)	(253.4 %)	(1.19)	(28.65)	(42.47)	(0.71)
Q3 2024	(37.66)	(71.9 %)	(0.63)	-	(37.66)	(0.63)
Q4 2024	(88.02)	(17.4 %)	(1.47)	(50.91)	(37.10)	(0.62)
2024	(219.41)	(65.8 %)	(3.66)	(79.56)	(139.85)	(2.33)
Q1 2025	(24.40)	(7.9 %)	(0.41)	-	(24.40)	(0.41)
Q2 2025	(31.18)	56.2 %	(0.52)	-	(31.18)	(0.52)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
2015	21.65	(52.3 %)	0.36	28.63	(6.98)	(0.12)
2016	(33.46)	(254.5 %)	(0.56)	7.11	(40.57)	(0.68)
2017	(69.45)	(107.6 %)	(1.16)	(20.31)	(49.15)	(0.82)
2018	(54.37)	21.7 %	(0.91)	-	(54.37)	(0.91)
2019	(38.76)	28.7 %	(0.65)	7.42	(46.18)	(0.77)
2020	(20.55)	47.0 %	(0.34)	-	(20.55)	(0.34)
2021	(59.30)	(188.6 %)	(0.99)	-	(59.30)	(0.99)
2022	(9.22)	84.5 %	(0.15)	8.67	(17.89)	(0.30)
2023	(132.30)	(1,335.0 %)	(2.21)	(36.02)	(96.28)	(1.60)
2024	(219.41)	(65.8 %)	(3.66)	(79.56)	(139.85)	(2.33)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	20.93 %	10.03 %	(0.97 %)
Q2 2016	20.39 %	9.10 %	(2.39 %)
Q3 2016	19.03 %	8.58 %	(2.98 %)
Q4 2016	18.82 %	8.52 %	(4.04 %)
2016	18.82 %	8.52 %	(4.04 %)
Q1 2017	17.53 %	7.41 %	(5.48 %)
Q2 2017	16.06 %	6.54 %	(6.71 %)
Q3 2017	16.18 %	7.34 %	(6.01 %)
Q4 2017	15.86 %	8.23 %	(4.96 %)
2017	15.86 %	8.80 %	(4.96 %)
Q1 2018	14.91 %	8.18 %	(5.46 %)
Q2 2018	14.63 %	8.59 %	(4.43 %)
Q3 2018	13.12 %	7.69 %	(5.05 %)
Q4 2018	12.17 %	7.46 %	(5.34 %)
2018	12.17 %	7.46 %	(5.34 %)
Q1 2019	11.79 %	7.11 %	(5.77 %)
Q2 2019	11.16 %	6.08 %	(6.94 %)
Q3 2019	13.01 %	7.61 %	(5.62 %)
Q4 2019	14.18 %	8.86 %	(5.00 %)
2019	14.18 %	8.86 %	(5.00 %)
Q1 2020	14.93 %	9.56 %	(4.15 %)
Q2 2020	16.50 %	10.40 %	(2.61 %)
Q3 2020	16.51 %	9.85 %	(2.86 %)
Q4 2020	16.72 %	9.27 %	(2.68 %)
2020	16.60 %	9.27 %	(2.68 %)
Q1 2021	16.65 %	8.37 %	(2.57 %)
Q2 2021	14.60 %	6.65 %	(4.86 %)
Q3 2021	12.04 %	3.99 %	(7.51 %)
Q4 2021	11.35 %	3.51 %	(7.57 %)
2021	11.35 %	3.51 %	(7.57 %)
Q1 2022	11.85 %	3.93 %	(6.39 %)
Q2 2022	12.95 %	5.44 %	(4.10 %)
Q3 2022	13.87 %	6.44 %	(2.76 %)
Q4 2022	14.24 %	7.66 %	(1.79 %)
2022	14.24 %	7.66 %	(1.79 %)
Q1 2023	14.04 %	7.90 %	(2.55 %)
Q2 2023	13.22 %	6.96 %	(5.12 %)
Q3 2023	12.07 %	6.15 %	(7.25 %)
Q4 2023	8.62 %	2.62 %	(12.36 %)
2023	8.62 %	2.62 %	(12.36 %)
Q1 2024	7.22 %	1.61 %	(13.72 %)
Q2 2024	5.22 %	(0.49 %)	(17.07 %)
Q3 2024	3.83 %	1.64 %	(19.85 %)
Q4 2024	3.37 %	(2.33 %)	(19.39 %)
2024	4.96 %	(2.33 %)	(19.39 %)
Q1 2025	2.90 %	(3.12 %)	(20.26 %)
Q2 2025	3.25 %	(3.22 %)	(19.03 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	21.02 %	10.43 %	(0.63 %)
2016	18.82 %	8.52 %	(4.04 %)
2017	15.86 %	8.80 %	(4.96 %)
2018	12.17 %	7.46 %	(5.34 %)
2019	14.18 %	8.86 %	(5.00 %)
2020	16.60 %	9.27 %	(2.68 %)
2021	11.35 %	3.51 %	(7.57 %)
2022	14.24 %	7.66 %	(1.79 %)
2023	8.62 %	2.62 %	(12.36 %)
2024	4.96 %	(2.33 %)	(19.39 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	21.80 %	11.39 %	(0.74 %)
Q2 2016	21.46 %	12.37 %	(0.39 %)
Q3 2016	16.11 %	7.56 %	(4.58 %)
Q4 2016	15.66 %	2.33 %	(10.89 %)
Q1 2017	16.65 %	6.97 %	(6.52 %)
Q2 2017	15.83 %	9.11 %	(5.06 %)
Q3 2017	16.60 %	10.69 %	(1.82 %)
Q4 2017	14.36 %	6.06 %	(6.52 %)
Q1 2018	12.35 %	6.47 %	(9.21 %)
Q2 2018	14.74 %	10.64 %	(1.20 %)
Q3 2018	11.08 %	7.28 %	(4.28 %)
Q4 2018	10.76 %	5.45 %	(7.34 %)
Q1 2019	10.47 %	4.75 %	(11.39 %)
Q2 2019	12.30 %	6.57 %	(5.76 %)
Q3 2019	18.24 %	13.32 %	1.07 %
Q4 2019	14.91 %	9.92 %	(5.25 %)
Q1 2020	13.84 %	7.90 %	(7.68 %)
Q2 2020	18.73 %	9.69 %	0.75 %
Q3 2020	18.70 %	11.77 %	0.89 %
Q4 2020	15.25 %	7.32 %	(5.28 %)
Q1 2021	13.19 %	3.85 %	(7.82 %)
Q2 2021	10.99 %	3.15 %	(7.90 %)
Q3 2021	9.40 %	2.14 %	(8.72 %)
Q4 2021	12.06 %	4.87 %	(5.95 %)
Q1 2022	14.46 %	5.27 %	(3.54 %)
Q2 2022	14.98 %	8.53 %	0.33 %
Q3 2022	13.65 %	6.61 %	(2.65 %)
Q4 2022	13.80 %	10.27 %	(1.50 %)
Q1 2023	13.56 %	6.07 %	(7.26 %)
Q2 2023	11.58 %	4.41 %	(10.49 %)
Q3 2023	9.02 %	3.17 %	(10.73 %)
Q4 2023	(1.23 %)	(4.28 %)	(22.63 %)
Q1 2024	8.53 %	2.44 %	(12.10 %)
Q2 2024	3.56 %	(4.21 %)	(24.35 %)
Q3 2024	4.04 %	12.09 %	(20.88 %)
Q4 2024	(2.88 %)	(19.97 %)	(20.67 %)
Q1 2025	7.26 %	(0.28 %)	(14.80 %)
Q2 2025	5.08 %	(4.70 %)	(19.46 %)

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
Q1 2016	60.00	0.22	(0.17)	15.49
Q2 2016	60.00	(0.24)	(0.42)	15.50
Q3 2016	60.00	(0.62)	(0.52)	15.33
Q4 2016	60.00	(0.56)	(0.68)	14.90
Q1 2017	60.00	(0.88)	(0.91)	14.62
Q2 2017	60.00	(1.10)	(1.10)	14.41
Q3 2017	60.00	(0.99)	(0.99)	14.33
Q4 2017	60.00	(1.16)	(0.82)	13.69
Q1 2018	60.00	(1.21)	(0.87)	13.38
Q2 2018	60.00	(1.04)	(0.70)	13.32
Q3 2018	60.00	(1.16)	(0.83)	13.13
Q4 2018	60.00	(0.91)	(0.91)	12.59
Q1 2019	60.00	(0.98)	(0.98)	12.19
Q2 2019	60.00	(1.16)	(1.16)	11.98
Q3 2019	60.00	(0.91)	(0.91)	12.01
Q4 2019	60.00	(0.65)	(0.77)	12.07
Q1 2020	60.00	(0.51)	(0.63)	11.81
Q2 2020	60.00	(0.26)	(0.38)	11.84
Q3 2020	60.00	(0.27)	(0.40)	11.87
Q4 2020	60.00	(0.34)	(0.34)	11.71
Q1 2021	60.00	(0.32)	(0.32)	11.48
Q2 2021	60.00	(0.60)	(0.60)	11.22
Q3 2021	60.00	(0.93)	(0.93)	10.93
Q4 2021	60.00	(0.99)	(0.99)	10.70
Q1 2022	60.00	(0.82)	(0.90)	10.64
Q2 2022	60.00	(0.55)	(0.63)	10.66
Q3 2022	60.00	(0.31)	(0.45)	10.59
Q4 2022	60.00	(0.15)	(0.30)	10.63
Q1 2023	60.00	(0.35)	(0.41)	10.38
Q2 2023	60.00	(0.70)	(0.76)	10.04
Q3 2023	60.00	(1.01)	(1.01)	9.68
Q4 2023	60.00	(2.21)	(1.60)	8.36
Q1 2024	60.00	(2.33)	(1.73)	7.98
Q2 2024	60.00	(3.18)	(2.10)	6.80
Q3 2024	60.00	(3.44)	(2.36)	6.17
Q4 2024	60.00	(3.66)	(2.33)	4.69
Q1 2025	60.00	(3.69)	(2.36)	4.28
Q2 2025	60.00	(3.02)	(2.17)	3.76

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	60.00	0.36	(0.12)	15.56
2016	60.00	(0.56)	(0.68)	14.90
2017	60.00	(1.16)	(0.82)	13.69
2018	60.00	(0.91)	(0.91)	12.59
2019	60.00	(0.65)	(0.77)	12.07
2020	60.00	(0.34)	(0.34)	11.71
2021	60.00	(0.99)	(0.99)	10.70
2022	60.00	(0.15)	(0.30)	10.63
2023	60.00	(2.21)	(1.60)	8.36
2024	60.00	(3.66)	(2.33)	4.69

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Recurring P/E	Price/book
Q1 2016	92.58	NEG	1.31
Q2 2016	NEG	NEG	1.25
Q3 2016	NEG	NEG	0.76
Q4 2016	NEG	NEG	1.35
Q1 2017	NEG	NEG	1.17
Q2 2017	NEG	NEG	1.00
Q3 2017	NEG	NEG	1.62
Q4 2017	NEG	NEG	1.47
Q1 2018	NEG	NEG	1.43
Q2 2018	NEG	NEG	1.47
Q3 2018	NEG	NEG	1.30
Q4 2018	NEG	NEG	1.29
Q1 2019	NEG	NEG	1.32
Q2 2019	NEG	NEG	1.17
Q3 2019	NEG	NEG	1.08
Q4 2019	NEG	NEG	1.08
Q1 2020	NEG	NEG	0.88
Q2 2020	NEG	NEG	1.11
Q3 2020	NEG	NEG	1.73
Q4 2020	NEG	NEG	2.10
Q1 2021	NEG	NEG	2.14
Q2 2021	NEG	NEG	2.78
Q3 2021	NEG	NEG	2.45
Q4 2021	NEG	NEG	2.05
Q1 2022	NEG	NEG	1.91
Q2 2022	NEG	NEG	1.47
Q3 2022	NEG	NEG	1.57
Q4 2022	NEG	NEG	1.65
Q1 2023	NEG	NEG	1.76
Q2 2023	NEG	NEG	1.83
Q3 2023	NEG	NEG	1.74
Q4 2023	NEG	NEG	1.86
Q1 2024	NEG	NEG	1.95
Q2 2024	NEG	NEG	2.07
Q3 2024	NEG	NEG	2.36
Q4 2024	NEG	NEG	2.61
Q1 2025	NEG	NEG	2.45
Q2 2025	NEG	NEG	3.26

Period	P/E	Recurring P/E	Price/book
2015	72.86	NEG	1.69
2016	NEG	NEG	1.35
2017	NEG	NEG	1.47
2018	NEG	NEG	1.29
2019	NEG	NEG	1.08
2020	NEG	NEG	2.10
2021	NEG	NEG	2.05
2022	NEG	NEG	1.65
2023	NEG	NEG	1.86
2024	NEG	NEG	2.61

Business Segments (Million)

Compared With The

Period	packing and packaging	Printing	Other sectors & Investment activities	elimination
Q1 2016	208.55	47.30	-	(1.45)
Q2 2016	214.83	47.79	-	(3.25)
Q3 2016	197.67	57.99	-	(4.33)
Q4 2016	188.44	49.00	-	-
Q1 2017	197.04	46.58	-	(1.31)
Q2 2017	216.03	44.79	-	(7.74)
Q3 2017	186.12	70.43	-	(5.08)
Q4 2017	179.00	51.68	-	-
Q1 2018	176.21	30.72	-	(4.36)
Q2 2018	207.48	57.96	-	(9.32)
Q3 2018	205.97	76.22	-	(5.85)
Q4 2018	196.35	116.63	-	(29.51)
Q1 2019	185.95	19.62	-	(3.53)
Q2 2019	201.26	43.41	-	(7.06)
Q3 2019	192.48	71.83	-	(11.79)
Q4 2019	163.90	64.62	-	3.65
Q1 2020	176.92	17.89	-	(0.55)
Q2 2020	167.22	46.42	-	(14.01)
Q3 2020	155.72	59.97	-	(11.24)
Q4 2020	130.68	24.14	-	14.52
Q1 2021	160.94	12.77	-	(0.27)
Q2 2021	192.96	13.99	-	(12.74)
Q3 2021	186.68	24.11	-	(7.19)
Q4 2021	196.77	22.39	-	(6.78)
Q1 2022	215.28	27.09	-	(5.94)
Q2 2022	234.43	41.12	-	(5.31)
Q3 2022	228.27	40.41	-	(7.54)
Q4 2022	197.36	42.65	-	(7.72)
Q1 2023	199.30	25.03	-	(13.40)
Q2 2023	187.53	25.11	-	(20.75)
Q3 2023	187.31	38.98	-	(22.02)
Q4 2023	157.01	24.76	-	(9.70)
Q1 2024	177.06	19.41	-	(9.56)
Q2 2024	167.44	24.59	-	(17.57)
Q3 2024	172.90	19.17	-	(11.73)
Q4 2024	170.91	25.86	-	(17.26)
Q1 2025	162.42	13.77	-	(11.29)
Q2 2025	161.59	13.23	-	(14.62)

Period	packing and packaging	Printing	Other sectors & Investment activities	elimination
2015	898.27	209.49	-	-
2016	809.49	195.92	-	-
2017	778.19	213.49	-	-
2018	786.00	281.53	-	(49.05)
2019	743.60	199.48	-	(18.73)
2020	630.55	148.42	-	(11.28)
2021	737.36	73.26	-	(26.98)
2022	875.33	151.27	-	(26.51)
2023	731.15	113.88	-	(65.87)
2024	688.30	89.02	-	(56.12)

Financial Ratios

	Current
Market Cap (M Riyal)	487.80
Enterprise Value (EV) (M Riyal)	1,110.76
Shares Outstanding ((M))	60.00
EPS ( Riyal) (TTM)	(3.07)
Book Value (BV) ( Riyal)	3.09
Par Value ( Riyal)	10.00
Recurring P/E	Neg
P/E (TTM)	NEG
Price/book	2.63
Return on Average Assets (%) (TTM)	(14.96 )
Return on Average Equity (%) (TTM)	(66.29 )
EV/adj EBITDA	(20.81)
EV/Revenues	1.74

Saudi Printing and Packaging Co. (SPPC)

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Saudi Printing narrows H1 2025 net loss to SAR 55.6M; Q2 at SAR 31.2M

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Financials (M)

Current Quarter Comparison (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2025 Q2

Financial Ratios

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Saudi Printing and Packaging Co. (SPPC)

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Saudi Printing narrows H1 2025 net loss to SAR 55.6M; Q2 at SAR 31.2M

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q2 2025

Revenue by Business Segment (Latest) 2025 Q2

Financial Ratios

Share Price

Saudi Printing and Packaging Co. (SPPC)

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Business Segments (Million)