Financial Results : Saudi Cable reports SAR 46.7M profit in Q1 2025

Saudi Cable reports SAR 46.7M profit in Q1 2025

14/05/2025 Argaam Exclusive

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Saudi Cable Co. swung to a net profit of SAR 46.7 million in Q1 2025 against a loss of SAR 4.8 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 12.57 44.11 250.8 %
Gross Income (10.60) (4.25) 59.9 %
Operating Income (36.64) (13.84) 62.2 %
Net Income (4.85) 46.66 1063.0 %
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyal) (0.73) 6.99 1063.0 %
EPS (Riyal) (0.73) 6.99 1063.0 %

The company recorded a net profit from continuing activities of SAR 49 million, due to a decrease in operating and administrative costs, in addition to its share of the associate's results. Meanwhile, a net loss from discontinued activities of SAR 2.32 million, resulting from the subsidiary's operations in Turkey, brought the net profit to SAR 46.7 million.

 

Additionally, the company reported higher sales volume due to increased market demand and improved customer acquisition.

 

Saudi Cable was also able to secure new projects and expand client base, which contributed to revenue growth.

 

These came besides effective measures implemented to control costs and improve operational efficiency and reduced administrative, selling, and financing costs.

 

Compared to Q4 2024, the company’s profit grew 705.7% from SAR 5.79 million.

 

Shareholders’ equity, no minority interest, reached SAR -378.73 million at the end of Q1 2025, compared to SAR -460.98 million in the year-earlier period.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 386.66 (22.4 %) (13.77) (146.9 %) (60.06) (280.1 %)
Q2 2016 474.84 (0.2 %) 36.89 73.6 % (11.71) 29.6 %
Q3 2016 348.48 (29.1 %) 15.71 6.0 % (25.94) (28.7 %)
Q4 2016 354.57 (21.2 %) 9.61 870.6 % (34.93) 29.4 %
Q1 2017 340.07 (12.1 %) 11.72 185.1 % (22.05) 63.3 %
Q2 2017 351.41 (26.0 %) 10.05 (72.8 %) (26.91) (129.8 %)
Q3 2017 314.59 (9.7 %) 17.14 9.1 % (17.56) 32.3 %
Q4 2017 336.29 (5.2 %) 12.89 34.1 % (21.38) 38.8 %
Q1 2018 275.07 (19.1 %) 0.15 (98.8 %) (29.84) (35.3 %)
Q2 2018 252.03 (28.3 %) (3.24) (132.2 %) (23.75) 11.8 %
Q3 2018 178.97 (43.1 %) (22.05) (228.6 %) (49.19) (180.1 %)
Q4 2018 158.96 (52.7 %) (70.73) (648.8 %) (105.35) (392.8 %)
Q1 2019 102.46 (62.8 %) (9.00) (6304.1 %) (26.69) 10.6 %
Q2 2019 90.58 (64.1 %) (12.07) (273.0 %) (37.03) (55.9 %)
Q3 2019 81.63 (54.4 %) (1.66) 92.5 % (22.09) 55.1 %
Q4 2019 106.61 (32.9 %) (12.45) 82.4 % (21.60) 79.5 %
Q1 2020 59.53 (41.9 %) (17.31) (92.4 %) (37.95) (42.2 %)
Q2 2020 145.18 60.3 % (6.74) 44.2 % (25.14) 32.1 %
Q3 2020 92.61 13.5 % (13.28) (700.6 %) (42.76) (93.6 %)
Q4 2020 71.46 (33.0 %) (20.34) (63.4 %) (63.97) (196.1 %)
Q1 2021 63.86 7.3 % (17.26) 0.3 % (36.83) 2.9 %
Q2 2021 41.35 (71.5 %) (20.97) (211.1 %) (31.50) (25.3 %)
Q3 2021 23.50 (74.6 %) (24.22) (82.4 %) (43.24) (1.1 %)
Q4 2021 31.85 (55.4 %) (14.18) 30.3 % (32.64) 49.0 %
Q1 2022 35.36 (44.6 %) (26.74) (54.9 %) (42.07) (14.2 %)
Q2 2022 25.03 (39.5 %) (18.31) 12.7 % (36.06) (14.5 %)
Q3 2022 6.01 (74.4 %) (20.14) 16.9 % (28.12) 35.0 %
Q4 2022 6.41 (79.9 %) (31.23) (120.2 %) (118.06) (261.7 %)
Q1 2023 11.72 (66.9 %) (18.08) 32.4 % 4.32 110.3 %
Q2 2023 3.87 (84.5 %) (17.19) 6.1 % (21.74) 39.7 %
Q3 2023 3.47 (42.2 %) (15.76) 21.7 % (21.99) 21.8 %
Q4 2023 11.62 81.2 % (17.13) 45.1 % (44.41) 62.4 %
Q1 2024 12.57 7.3 % (10.60) 41.4 % (36.64) (948.8 %)
Q2 2024 10.12 161.2 % (8.96) 47.9 % (19.33) 11.1 %
Q3 2024 7.27 109.4 % (6.44) 59.2 % 0.16 100.7 %
Q4 2024 14.12 21.5 % 7.08 141.3 % (24.71) 44.4 %
Q1 2025 44.11 250.8 % (4.25) 59.9 % (13.84) 62.2 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2016 (58.66) (638.6 %) (14.03) - (58.66) (14.03)
Q2 2016 (18.21) (2167.3 %) (4.36) - (18.21) (4.36)
Q3 2016 4.87 270.7 % 1.17 41.47 (36.60) (8.76)
Q4 2016 (154.30) (1430.0 %) (36.91) (111.93) (42.37) (10.14)
Q1 2017 (23.65) 59.7 % (5.66) - (23.65) (5.66)
Q2 2017 39.38 316.2 % 9.42 77.00 (37.62) (9.00)
Q3 2017 (34.49) (808.1 %) (8.25) - (34.49) (8.25)
Q4 2017 (61.54) 60.1 % (14.72) - (61.54) (14.72)
Q1 2018 (20.72) 12.4 % (4.96) 24.99 (45.70) (10.93)
Q2 2018 (97.24) (346.9 %) (23.26) - (97.24) (23.26)
Q3 2018 (15.71) 54.5 % (3.76) 47.56 (63.27) (15.14)
Q4 2018 70.72 214.9 % 16.92 203.56 (132.84) (31.78)
Q1 2019 (32.10) (54.9 %) (7.68) - (32.10) (7.68)
Q2 2019 (18.32) 81.2 % (4.38) - (18.32) (4.38)
Q3 2019 (23.79) (51.4 %) (5.69) - (23.79) (5.69)
Q4 2019 12.38 (82.5 %) 2.96 17.61 (5.23) (1.25)
Q1 2020 (43.20) (34.6 %) (6.47) - (43.20) (6.47)
Q2 2020 (16.58) 9.5 % (2.48) - (16.58) (2.48)
Q3 2020 51.41 316.1 % 7.70 89.74 (38.34) (5.75)
Q4 2020 (46.64) (476.9 %) (6.99) - (46.64) (6.99)
Q1 2021 (35.88) 16.9 % (5.38) - (35.88) (5.38)
Q2 2021 (19.19) (15.7 %) (2.88) - (19.19) (2.88)
Q3 2021 (46.56) (190.6 %) (6.98) - (46.56) (6.98)
Q4 2021 (92.68) (98.7 %) (13.89) - (92.68) (13.89)
Q1 2022 (37.16) (3.5 %) (5.57) - (37.16) (5.57)
Q2 2022 (44.49) (131.9 %) (6.67) - (44.49) (6.67)
Q3 2022 (34.93) 25.0 % (5.23) - (34.93) (5.23)
Q4 2022 (463.90) (400.5 %) (69.52) (67.09) (396.82) (59.47)
Q1 2023 40.90 210.1 % 6.13 41.01 (0.11) (0.02)
Q2 2023 (6.83) 84.7 % (1.02) (11.46) 4.63 0.69
Q3 2023 3.72 110.7 % 0.56 (1.25) 4.98 0.75
Q4 2023 (43.36) 90.7 % (6.50) (1.77) (41.59) (6.23)
Q1 2024 (4.85) (111.8 %) (0.73) - (4.85) (0.73)
Q2 2024 11.87 273.8 % 1.78 - 11.87 1.78
Q3 2024 35.94 865.2 % 5.39 - 35.94 5.39
Q4 2024 5.79 113.4 % 0.87 14.48 (8.69) (1.30)
Q1 2025 46.66 1063.0 % 6.99 - 46.66 6.99

Profitability

Period Gross Margin Adjusted EBITDA margin Net Margin Before Unusual Items
Q1 2016 1.17 % (2.50 %) (8.40 %)
Q2 2016 2.04 % (1.67 %) (8.43 %)
Q3 2016 2.26 % (1.96 %) (9.90 %)
Q4 2016 3.10 % (0.86 %) (9.96 %)
Q1 2017 4.87 % 1.51 % (7.96 %)
Q2 2017 3.38 % 0.28 % (10.06 %)
Q3 2017 3.57 % 0.50 % (10.15 %)
Q4 2017 3.86 % 0.70 % (11.72 %)
Q1 2018 3.15 % (0.67 %) (14.04 %)
Q2 2018 2.29 % (1.13 %) (20.29 %)
Q3 2018 (1.18 %) (5.13 %) (25.69 %)
Q4 2018 (11.08 %) (18.24 %) (39.20 %)
Q1 2019 (15.17 %) (23.90 %) (47.00 %)
Q2 2019 (21.44 %) (35.73 %) (46.43 %)
Q3 2019 (21.55 %) (39.33 %) (47.75 %)
Q4 2019 (9.23 %) (19.05 %) (20.83 %)
Q1 2020 (12.85 %) (24.76 %) (26.76 %)
Q2 2020 (9.71 %) (18.37 %) (22.60 %)
Q3 2020 (12.32 %) (22.44 %) (25.59 %)
Q4 2020 (15.64 %) (35.68 %) (39.25 %)
Q1 2021 (15.44 %) (35.14 %) (36.84 %)
Q2 2021 (26.68 %) (51.05 %) (52.01 %)
Q3 2021 (41.36 %) (70.09 %) (74.07 %)
Q4 2021 (47.73 %) (68.42 %) (121.02 %)
Q1 2022 (65.20 %) (88.46 %) (148.11 %)
Q2 2022 (72.10 %) (106.10 %) (190.86 %)
Q3 2022 (80.78 %) (111.16 %) (213.00 %)
Q4 2022 (132.42 %) (273.12 %) (705.13 %)
Q1 2023 (178.48 %) (311.84 %) (968.85 %)
Q2 2023 (309.27 %) (503.43 %) (1525.10 %)
Q3 2023 (322.93 %) (549.54 %) (1520.51 %)
Q4 2023 (222.19 %) (210.51 %) (104.63 %)
Q1 2024 (192.43 %) (339.81 %) (116.80 %)
Q2 2024 (138.85 %) (283.23 %) (78.33 %)
Q3 2024 (103.74 %) (199.23 %) 3.30 %
Q4 2024 (42.93 %) (148.80 %) 77.77 %
2024 (42.93 %) (148.80 %) 77.77 %
Q1 2025 (16.63 %) (57.29 %) 113.45 %


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 4.18 (11.73) (36.24) 95.36
Q2 2016 4.18 (16.30) (36.36) 88.43
Q3 2016 4.18 (14.45) (39.30) 92.92
Q4 2016 4.18 (54.14) (37.28) 71.68
Q1 2017 4.18 (45.76) (28.91) 64.29
Q2 2017 4.18 (31.99) (33.55) 74.42
Q3 2017 4.18 (41.40) (33.05) 67.25
Q4 2017 4.18 (19.21) (37.63) 50.20
Q1 2018 4.18 (18.51) (42.91) 49.24
Q2 2018 4.18 (51.19) (57.17) 24.57
Q3 2018 4.18 (46.70) (64.06) 21.02
Q4 2018 4.18 (15.06) (81.11) 38.79
Q1 2019 4.18 (17.78) (77.86) 31.60
Q2 2019 4.18 1.10 (58.98) 26.42
Q3 2019 4.18 (0.83) (49.53) 21.41
Q4 2019 4.18 (14.79) (19.00) 22.56
Q1 2020 6.67 (10.93) (13.57) 44.54
Q2 2020 6.67 (10.67) (13.31) 43.91
Q3 2020 6.67 0.60 (15.49) 51.12
Q4 2020 6.67 (8.24) (21.69) 43.26
Q1 2021 6.67 (7.15) (20.60) 37.73
Q2 2021 6.67 (7.54) (20.99) 33.67
Q3 2021 6.67 (22.22) (22.22) 26.42
Q4 2021 6.67 (29.12) (29.12) 12.56
Q1 2022 6.67 (29.31) (29.31) 9.85
Q2 2022 6.67 (33.10) (33.10) (2.72)
Q3 2022 6.67 (31.36) (31.36) (7.10)
Q4 2022 6.67 (86.99) (76.94) (74.40)
Q1 2023 6.67 (75.29) (71.38) (68.41)
Q2 2023 6.67 (69.65) (64.02) (71.08)
Q3 2023 6.67 (63.86) (58.04) (65.46)
Q4 2023 6.67 (0.83) (4.81) (72.43)
Q1 2024 6.67 (7.69) (5.52) (69.08)
Q2 2024 6.67 (4.89) (4.43) (66.79)
Q3 2024 6.67 (0.06) 0.21 (61.34)
Q4 2024 6.67 7.31 5.14 (62.86)
Q1 2025 6.67 15.03 12.86 (56.76)

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2016 NEG NEG 2.13
Q2 2016 NEG NEG 2.18
Q3 2016 NEG NEG 1.44
Q4 2016 NEG NEG 2.46
Q1 2017 NEG NEG 2.59
Q2 2017 NEG NEG 2.24
Q3 2017 NEG NEG 2.48
Q4 2017 NEG NEG 3.32
Q1 2018 NEG NEG 3.39
Q2 2018 NEG NEG 5.28
Q3 2018 NEG NEG 4.73
Q4 2018 NEG NEG 4.16
Q1 2019 NEG NEG 5.72
Q2 2019 More than 100 NEG 5.92
Q3 2019 NEG NEG 6.98
Q4 2019 NEG NEG 7.10
Q1 2020 NEG NEG 1.27
Q2 2020 NEG NEG 1.65
Q3 2020 More than 100 NEG 2.24
Q4 2020 NEG NEG 3.72
Q1 2021 NEG NEG 4.28
Q2 2021 NEG NEG 4.85
Q3 2021 NEG NEG 5.54
Q4 2021 NEG NEG 8.40
Q1 2022 NEG NEG 8.03
Q2 2022 NEG NEG (21.06)
Q3 2022 NEG NEG (8.05)
Q4 2022 NEG NEG (0.77)
Q1 2023 NEG NEG (0.84)
Q2 2023 NEG NEG (0.80)
Q3 2023 NEG NEG (0.87)
Q4 2023 NEG NEG (0.79)
Q1 2024 NEG NEG (1.21)
Q2 2024 NEG NEG (1.18)
Q3 2024 NEG More than 100 (1.33)
Q4 2024 13.82 19.66 (1.61)
Q1 2025 8.17 9.55 (2.16)

Business Segments (Million)

Compared With The
Period Sale of Goods Contract Revenue
Q1 2016 379.92 6.75
Q2 2016 444.91 29.93
Q3 2016 330.89 17.60
Q4 2016 324.95 67.48
Q1 2017 325.31 14.88
Q2 2017 332.95 18.46
Q3 2017 291.99 22.59
Q4 2017 293.43 42.86
Q1 2018 261.76 13.30
Q2 2018 232.45 19.58
Q3 2018 166.50 12.47
Q4 2018 140.51 18.44
Q1 2019 93.48 8.98
Q2 2019 70.23 20.35
Q3 2019 52.77 28.86
Q1 2020 41.57 17.97
Q2 2020 133.48 11.70
Q3 2020 75.65 16.96
Q4 2020 59.87 11.58
Q1 2021 60.12 3.73
Q2 2021 37.63 3.72
Q3 2021 19.75 3.75
Q4 2021 25.61 6.24
Q1 2022 29.72 5.63
Q2 2022 13.44 11.59
Q3 2022 4.83 1.30
Q1 2023 5.91 5.81
Q2 2023 2.07 1.80
Q3 2023 2.32 1.16
Q4 2023 7.69 3.93
Q1 2024 9.22 3.36
Q2 2024 5.18 4.94
Q3 2024 2.35 4.92
Q4 2024 1.09 13.03
Q1 2025 37.41 6.70


Financial Ratios
Current
Market Cap (M Riyal) 1,056.18
Enterprise Value (EV) (M Riyal) 1,123.93
Shares Outstanding ((M)) 6.67
EPS ( Riyal) (TTM) 30.26
Book Value (BV) ( Riyal) (32.12)
Par Value ( Riyal) 10.00
Recurring P/E 7.40
P/E (TTM) 5.23
Price/book (4.93)
Return on Average Assets (%) (TTM) 25.1
Return on Average Equity (%) (TTM) (63.72 )
EV/adj EBITDA (12.84)
EV/Revenues 7.21
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Share Price

Saudi Cable Co.
158.90
0.60 0.38 %

Saudi Cable Co. (SAUDI CABLE)

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