Financial Results : GACO incurs SAR 3.5M loss in Q1 2025

GACO incurs SAR 3.5M loss in Q1 2025

15/05/2025 Argaam Exclusive

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Al Gassim Investment Holding Co. (GACO) widened net losses to SAR 3.5 million in Q1 2025, from SAR 1.8 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 2.51 2.32 (7.7 %)
Gross Income 2.14 1.90 (11.6 %)
Operating Income (0.40) (0.61) (52.5 %)
Net Income (1.76) (3.49) (98.4 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyal) (0.02) 0.00 97.0 %
EPS (Riyal) (0.06) (0.12) (98.4 %)

The higher net losses were attributed to a decline in revenues due to lower finance income.

 

GACO reported an impairment of financial assets held for sale, in addition to an increase in general and administrative expenses, along with lower revenue and increased cost of sales.

 

On the other hand, GACO recorded a decline in provisions for Zakat and expected credit losses during the three-month period. It also recorded higher other income.

 

The company posted losses, despite recording a net profit of SAR 14.9 million in Q4 2024.

 

Total shareholders’ equity, no minority interest, increased to SAR 303.17 million as of March 31, 2025, from SAR 294.60 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 8.08 (0.7 %) 0.57 173.2 % (1.95) 30.2 %
Q2 2016 5.57 (60.6 %) 3.32 49.0 % 1.33 1069.3 %
Q3 2016 4.14 (67.7 %) 2.94 266.6 % 1.27 130.4 %
Q4 2016 4.34 (62.0 %) 2.85 394.2 % (0.24) 94.6 %
Q1 2017 4.83 (40.2 %) 2.46 332.1 % 0.82 142.1 %
Q2 2017 4.37 (21.6 %) 2.48 (25.2 %) 0.58 (56.5 %)
Q3 2017 4.65 12.2 % 2.56 (12.8 %) 1.17 (7.7 %)
Q4 2017 4.02 (7.6 %) 2.46 (13.8 %) 0.93 485.5 %
Q1 2018 2.97 (38.5 %) 2.53 2.7 % 1.31 59.4 %
Q2 2018 2.97 (32.0 %) 2.55 2.9 % 1.46 152.9 %
Q3 2018 3.24 (30.3 %) 2.80 9.5 % 1.87 59.6 %
Q4 2018 2.97 (26.0 %) 2.54 3.5 % (10.79) (1261.2 %)
Q1 2019 2.92 (1.6 %) 2.53 0.0 % 9.47 622.9 %
Q2 2019 2.92 (1.6 %) 2.46 (3.8 %) 1.50 2.3 %
Q3 2019 3.22 (0.4 %) 2.77 (1.2 %) 1.39 (25.5 %)
Q4 2019 2.92 (1.6 %) 2.54 (0.1 %) (42.04) (289.7 %)
Q1 2020 2.87 (1.7 %) 2.48 (1.8 %) 0.87 (90.8 %)
Q2 2020 2.87 (1.7 %) 2.46 0.1 % 1.40 (6.7 %)
Q3 2020 2.96 (8.3 %) 2.56 (7.6 %) 1.57 12.6 %
Q4 2020 2.96 1.1 % 2.41 (5.1 %) (7.70) 81.7 %
Q1 2021 2.82 (2.0 %) 2.36 (4.8 %) (0.25) (128.9 %)
Q2 2021 2.82 (1.9 %) 2.38 (3.2 %) (0.19) (113.6 %)
Q3 2021 2.92 (1.3 %) 2.48 (3.1 %) 0.38 (75.8 %)
Q4 2021 2.82 (4.6 %) 2.36 (2.1 %) 7.72 200.2 %
Q1 2022 2.66 (5.4 %) 2.22 (5.9 %) (0.72) (186.9 %)
Q2 2022 2.66 (5.5 %) 2.24 (6.0 %) (0.14) 24.7 %
Q3 2022 2.87 (1.6 %) 2.45 (1.3 %) 0.24 (37.1 %)
Q4 2022 2.66 (5.5 %) 2.24 (5.1 %) 15.38 99.3 %
Q1 2023 2.60 (2.3 %) 2.24 0.7 % (0.08) 89.2 %
Q2 2023 2.60 (2.3 %) 2.23 (0.2 %) 0.44 409.9 %
Q3 2023 2.66 (7.3 %) 2.29 (6.3 %) 0.21 (13.1 %)
Q4 2023 2.60 (2.3 %) 2.19 (2.0 %) (2.32) (115.1 %)
Q1 2024 2.51 (3.4 %) 2.14 (4.2 %) (0.40) (413.0 %)
Q2 2024 2.51 (3.4 %) 2.15 (3.5 %) (0.03) (107.0 %)
Q3 2024 2.51 (5.6 %) 2.13 (7.0 %) (1.00) (580.7 %)
Q4 2024 2.51 (3.4 %) 2.06 (6.2 %) 2.74 218.0 %
Q1 2025 2.32 (7.7 %) 1.90 (11.6 %) (0.61) (52.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2016 95.31 3301.5 % 3.18 98.55 (3.24) (0.11)
Q2 2016 3.03 551.6 % 0.10 1.83 1.20 0.04
Q3 2016 1.40 133.4 % 0.05 - 1.40 0.05
Q4 2016 59.07 666.2 % 1.97 0.06 59.01 1.97
Q1 2017 0.21 (99.8 %) 0.01 - 0.21 0.01
Q2 2017 0.71 (76.7 %) 0.02 - 0.71 0.02
Q3 2017 1.48 5.6 % 0.05 - 1.48 0.05
Q4 2017 0.96 (98.4 %) 0.03 - 0.96 0.03
Q1 2018 0.29 42.7 % 0.01 - 0.29 0.01
Q2 2018 0.98 37.9 % 0.03 - 0.98 0.03
Q3 2018 1.25 (15.3 %) 0.04 - 1.25 0.04
Q4 2018 (10.23) (1170.0 %) (0.34) - (10.23) (0.34)
Q1 2019 9.36 3082.7 % 0.31 - 9.36 0.31
Q2 2019 1.46 49.5 % 0.05 - 1.46 0.05
Q3 2019 4.71 277.3 % 0.16 - 4.71 0.16
Q4 2019 (30.18) (195.0 %) (1.01) 2.58 (32.75) (1.09)
Q1 2020 0.71 (92.4 %) 0.02 - 0.71 0.02
Q2 2020 0.54 (63.3 %) 0.02 - 0.54 0.02
Q3 2020 (0.28) (106.0 %) (0.01) - (0.28) (0.01)
Q4 2020 (6.09) 79.8 % (0.20) - (6.09) (0.20)
Q1 2021 (0.02) (103.4 %) 0.00 - (0.02) 0.00
Q2 2021 (0.29) (154.8 %) (0.01) - (0.29) (0.01)
Q3 2021 (0.05) 81.6 % 0.00 - (0.05) 0.00
Q4 2021 1.46 124.0 % 0.05 - 1.46 0.05
Q1 2022 (0.52) (2,060.8 %) (0.02) - (0.52) (0.02)
Q2 2022 (0.36) (23.9 %) (0.01) - (0.36) (0.01)
Q3 2022 (0.01) 74.0 % 0.00 - (0.01) 0.00
Q4 2022 7.94 444.5 % 0.26 (6.42) 14.37 0.48
Q1 2023 0.51 198.1 % 0.02 - 0.51 0.02
Q2 2023 0.89 345.2 % 0.03 - 0.89 0.03
Q3 2023 (2.45) (18,035.6 %) (0.08) - (2.45) (0.08)
Q4 2023 (5.66) (171.3 %) (0.19) (5.47) (0.20) (0.01)
Q1 2024 (1.76) (445.4 %) (0.06) (1.27) (0.49) (0.02)
Q2 2024 (1.83) (306.0 %) (0.06) (1.27) (0.57) (0.02)
Q3 2024 (1.09) 55.6 % (0.04) (1.27) 0.18 0.01
Q4 2024 14.92 363.3 % 0.50 13.72 1.20 0.04
Q1 2025 (3.49) (98.4 %) (0.12) (3.47) (0.01) 0.00

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2016 0.14 % 13.75 % (28.08 %)
Q2 2016 3.05 % 10.46 % (32.48 %)
Q3 2016 20.03 % 18.22 % (23.05 %)
Q4 2016 43.69 % 26.23 % 263.65 %
Q1 2017 61.23 % 35.02 % 327.27 %
Q2 2017 60.66 % 30.70 % 346.70 %
Q3 2017 56.90 % 27.81 % 337.49 %
Q4 2017 55.75 % 34.02 % 18.72 %
Q1 2018 62.64 % 41.04 % 21.45 %
Q2 2018 69.12 % 50.94 % 25.33 %
Q3 2018 78.32 % 61.57 % 26.32 %
Q4 2018 85.74 % (31.67 %) (63.43 %)
Q1 2019 86.08 % 33.51 % 11.17 %
Q2 2019 85.63 % 31.83 % 15.22 %
Q3 2019 85.45 % 25.77 % 43.99 %
Q4 2019 85.77 % (234.69 %) (143.60 %)
Q1 2020 85.75 % (307.67 %) (216.59 %)
Q2 2020 86.14 % (305.63 %) (225.28 %)
Q3 2020 86.32 % (308.93 %) (273.44 %)
Q4 2020 84.97 % (11.25 %) (43.98 %)
Q1 2021 84.36 % (18.78 %) (50.53 %)
Q2 2021 84.07 % (34.67 %) (57.94 %)
Q3 2021 83.65 % (45.07 %) (56.13 %)
Q4 2021 84.22 % 89.96 % 9.58 %
Q1 2022 84.11 % 86.91 % 5.31 %
Q2 2022 84.00 % 88.40 % 4.75 %
Q3 2022 84.07 % 87.17 % 5.12 %
Q4 2022 84.16 % 158.64 % 124.06 %
Q1 2023 84.79 % 164.86 % 134.28 %
Q2 2023 85.24 % 170.53 % 146.72 %
Q3 2023 85.48 % 173.04 % 126.52 %
Q4 2023 85.56 % 4.16 % (11.90 %)
Q1 2024 85.40 % 0.26 % (21.64 %)
Q2 2024 85.37 % (5.10 %) (35.98 %)
Q3 2024 85.04 % (17.81 %) (10.60 %)
Q4 2024 84.44 % 31.89 % 3.19 %
2024 84.46 % 31.90 % 3.19 %
Q1 2025 83.58 % 30.42 % 8.09 %


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 30.00 3.31 (0.44) 11.86
Q2 2016 30.00 3.40 (0.41) 11.90
Q3 2016 30.00 3.58 (0.22) 11.91
Q4 2016 30.00 5.29 1.95 10.72
Q1 2017 30.00 2.12 2.06 10.72
Q2 2017 30.00 2.05 2.04 10.74
Q3 2017 30.00 2.05 2.05 10.54
Q4 2017 30.00 0.11 0.11 10.58
Q1 2018 30.00 0.11 0.11 10.59
Q2 2018 30.00 0.12 0.12 10.62
Q3 2018 30.00 0.12 0.12 10.66
Q4 2018 30.00 (0.26) (0.26) 10.33
Q1 2019 30.00 0.05 0.05 10.64
Q2 2019 30.00 0.06 0.06 10.69
Q3 2019 30.00 0.18 0.18 10.85
Q4 2019 30.00 (0.49) (0.57) 9.84
Q1 2020 30.00 (0.78) (0.86) 9.86
Q2 2020 30.00 (0.81) (0.89) 9.90
Q3 2020 30.00 (0.97) (1.06) 9.90
Q4 2020 30.00 (0.17) (0.17) 9.62
Q1 2021 30.00 (0.20) (0.20) 9.62
Q2 2021 30.00 (0.22) (0.22) 9.61
Q3 2021 30.00 (0.22) (0.22) 9.61
Q4 2021 30.00 0.04 0.04 9.66
Q1 2022 30.00 0.02 0.02 9.65
Q2 2022 30.00 0.02 0.02 9.83
Q3 2022 30.00 0.02 0.02 9.83
Q4 2022 30.00 0.23 0.45 10.11
Q1 2023 30.00 0.27 0.48 10.12
Q2 2023 30.00 0.31 0.53 10.15
Q3 2023 30.00 0.23 0.44 10.07
Q4 2023 30.00 (0.22) (0.04) 9.88
Q1 2024 30.00 (0.30) (0.07) 9.82
Q2 2024 30.00 (0.39) (0.12) 9.76
Q3 2024 30.00 (0.34) (0.04) 9.72
Q4 2024 30.00 0.34 0.01 10.22
Q1 2025 30.00 0.28 0.03 10.11

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2016 5.05 NEG 1.41
Q2 2016 4.88 NEG 1.39
Q3 2016 3.72 NEG 1.12
Q4 2016 2.95 8.02 1.46
Q1 2017 6.53 6.73 1.29
Q2 2017 6.43 6.43 1.22
Q3 2017 6.55 6.55 1.27
Q4 2017 More than 100 More than 100 1.21
Q1 2018 More than 100 More than 100 1.21
Q2 2018 99.73 99.73 1.16
Q3 2018 91.36 91.36 0.99
Q4 2018 NEG NEG 1.05
Q1 2019 More than 100 More than 100 1.12
Q2 2019 More than 100 More than 100 1.12
Q3 2019 59.22 59.22 0.96
Q4 2019 NEG NEG 1.13
Q1 2020 NEG NEG 0.92
Q2 2020 NEG NEG 1.32
Q3 2020 NEG NEG 2.11
Q4 2020 NEG NEG 2.01
Q1 2021 NEG NEG 2.90
Q2 2021 NEG NEG 3.36
Q3 2021 NEG NEG 3.10
Q4 2021 More than 100 More than 100 2.45
Q1 2022 More than 100 More than 100 2.35
Q2 2022 More than 100 More than 100 2.17
Q3 2022 More than 100 More than 100 2.44
Q4 2022 80.01 41.86 1.86
Q1 2023 96.57 53.79 2.57
Q2 2023 80.26 47.53 2.46
Q3 2023 81.89 42.39 1.87
Q4 2023 NEG NEG 1.82
Q1 2024 NEG NEG 1.81
Q2 2024 NEG NEG 1.68
Q3 2024 NEG NEG 2.06
Q4 2024 54.44 More than 100 1.82
Q1 2025 66.98 More than 100 1.88

Business Segments (Million)

Compared With The
Period Agri Sector- Shri Project Agri Sector- Jouf Project Poultry Project Dates Factory Dairy sector Agricultural Activity
Q1 2015 2.33 0.74 2.50 2.57 - -
Q2 2015 5.54 3.33 2.50 2.76 - -
Q3 2015 7.24 2.10 2.50 0.99 - -
Q4 2015 1.47 5.23 3.89 0.72 - -
Q1 2016 3.45 0.48 2.50 1.72 - -
Q2 2016 1.24 - 2.50 2.04 - -
Q3 2016 1.60 - 1.60 0.65 - -
Q4 2016 1.39 - 1.21 0.84 - -
Q1 2017 1.30 - 1.72 1.81 - -
Q2 2017 1.29 - 1.72 1.35 - -
Q3 2017 1.53 - 1.72 1.40 - -
Q4 2017 1.30 - 1.72 1.00 - -
Q2 2018 1.29 - 1.69 0.91 - -
Q3 2018 1.55 - 1.69 0.08 - -
Q4 2018 1.29 - 1.69 - - -
Q1 2019 1.28 - 1.65 - - -
Q2 2019 1.28 - 1.65 - - -
Q3 2019 1.58 - 1.65 - - -
Q4 2019 1.28 - 1.65 - - -
Q1 2020 1.27 - 1.60 - - -


Financial Ratios
Current
Market Cap (M Riyal) 489.30
Enterprise Value (EV) (M Riyal) 385.18
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) 0.47
Book Value (BV) ( Riyal) 10.19
Par Value ( Riyal) 10.00
Recurring P/E More than 100
P/E (TTM) 34.86
Price/book 1.60
Return on Average Assets (%) (TTM) 3.4
Return on Average Equity (%) (TTM) 4.7
EV/adj EBITDA 121.94
EV/Revenues 40.58
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Share Price

Al Gassim Investment Holding Co.
16.30
0.12 0.74 %

Al Gassim Investment Holding Co. (GACO)

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