Financial Results : Saudi Cable posts SAR 64.9M profit for H1 2025, SAR 18.2M for Q2

Saudi Cable posts SAR 64.9M profit for H1 2025, SAR 18.2M for Q2

31/07/2025 Argaam Exclusive

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Saudi Cable Co. reported a net profit of SAR 64.9 million in H1 2025, compared to SAR 7 million in H1 2024.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 22.69 74.30 227.4 %
Gross Income (19.56) (18.88) 3.5 %
Operating Income (55.97) (55.39) 1.0 %
Net Income 7.02 64.89 823.9 %
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyals) 1.05 9.72 823.9 %
EPS (Riyal) 1.05 9.72 823.9 %

This was spurred by a substantial increase in sales and higher overall profitability. The company also cited effective cost control measures, partially offset by a loss of SAR 2.33 billion from discontinued operations related to its Turkish subsidiary.

 

Saudi Cable’s Q2 2025 net profit reached SAR 18.2 million, up 53.6% from SAR 11.87 million in a prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 10.12 30.19 198.4 %
Gross Income (8.96) (14.63) (63.2 %)
Operating Income (19.33) (41.55) (115.0 %)
Net Income 11.87 18.23 53.6 %
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyal) 1.78 2.73 53.6 %
EPS (Riyal) 1.78 2.73 53.6 %

On a sequential basis, net earnings slumped 61% from SAR 46.66 million in Q1 2025.

 

Total shareholders’ equity, no minority interest, stood at SAR 360.17 million by June 30, 2025, compared to SAR 445.66 a year earlier.

 

Accumulated losses stood at SAR 411.87 million by June 30, 2025, representing 617% of capital.

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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 % - - (24.71) 44.4 %
Q1 2025 44.11 250.8 % (4.25) 59.9 % (13.84) 62.2 %
Q2 2025 30.19 198.4 % (14.63) (63.2 %) (41.55) (115.0 %)


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
Q2 2025 18.23 53.6 % 2.73 - 18.23 2.73

Profitability

Period Gross Margin OIBDA 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 - (148.78 %) 77.77 %
2024 (42.93 %) (148.78 %) 77.77 %
Q1 2025 - (57.29 %) 113.45 %
Q2 2025 - (68.57 %) 96.30 %


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)
Q2 2025 6.67 15.98 13.81 (53.97)

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)
Q2 2025 9.20 10.64 (2.72)

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
Q2 2025 26.21 3.98


Financial Ratios
Current
Market Cap (M Riyal) 1,097.55
Enterprise Value (EV) (M Riyal) 1,194.50
Shares Outstanding ((M)) 6.67
EPS ( Riyal) (TTM) 16.10
Book Value (BV) ( Riyal) (47.06)
Par Value ( Riyal) 10.00
Recurring P/E 11.80
P/E (TTM) 10.21
Price/book (3.50)
Return on Average Assets (%) (TTM) 14.5
Return on Average Equity (%) (TTM) (29.71 )
EV/adj EBITDA (13.73)
EV/Revenues 9.38
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Share Price

Saudi Cable Co.
164.50
(0.50) (0.30 %)

Saudi Cable Co. (SAUDI CABLE)

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