Financial Results : Saudi Cable reports SAR 101.7M profit in 9M 2025; Q3 at SAR 36.8M

Saudi Cable reports SAR 101.7M profit in 9M 2025; Q3 at SAR 36.8M

06/11/2025 Argaam Exclusive

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Saudi Cable Co. reported a net profit of SAR 101.7 million for the first nine months of 2025, compared to SAR 43 million in the same period of 2024.


Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 29.96 113.27 278.1 %
Gross Income (26.00) (24.86) 4.4 %
Operating Income (55.81) (75.94) (36.1 %)
Net Income 42.97 101.67 136.6 %
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyals) 6.44 15.24 136.6 %
EPS (Riyal) 6.44 15.24 136.6 %

The company attributed the profit growth in the nine-month period to higher sales driven by stronger market demand and improved customer acquisition efforts. The award and completion of new projects also expanded the company’s client base, supporting revenue growth and leading to higher gross profitability.

 

Cost-control measures further contributed to the improvement in net profit. The company recorded a net profit from continuing operations of SAR 103.99 million, mainly due to its share of profit from its associate company, Midal Cable Co.

 

This was partially offset by a loss of SAR 2.33 million from discontinued operations related to its subsidiary in Turkey. Accordingly, the company reported a total net profit of SAR 101.67 million for the period.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Revenues 7.27 38.97 436.0 %
Gross Income (6.44) (5.98) 7.1 %
Operating Income 0.16 (20.55) (13025.8 %)
Net Income 35.94 36.78 2.3 %
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyal) 5.39 5.51 2.3 %
EPS (Riyal) 5.39 5.51 2.3 %

Saudi Cable’s Q3 2025 net profit reached SAR 36.78 million, up 2.3% from SAR 35.94 million in a prior-year period.

 

On a sequential basis, net earnings soared 101.8% from SAR 18.23 million in Q2 2025.

 

Total shareholders’ equity, after minority interest, stood at SAR 314 million by Sept. 30, 2025, compared to SAR 409.33 a year earlier.

 

Accumulated losses stood at SAR 375.09 million by Sept. 30, 2025, representing 562% of capital.



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 %)
Q3 2025 38.97 436.0 % (5.98) 7.1 % (20.55) (13025.8 %)


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
Q3 2025 36.78 2.3 % 5.51 - 36.78 5.51

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 %
Q3 2025 - (68.31 %) 72.99 %


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)
Q3 2025 6.67 16.10 13.93 (47.06)

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)
Q3 2025 9.78 11.30 (3.35)

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
Q3 2025 21.80 17.18

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

Share Price

164.50
(0.50) (0.30 %)

Saudi Cable Co. (SAUDI CABLE)


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