Red Sea incurs losses of SAR 14M in 9M 2025, SAR 1.7M in Q3

06/11/2025 Argaam Exclusive

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Red Sea International Co. narrowed its net loss (after minority interest) to SAR 14 million for the first nine months of 2025, compared to SAR 54 million in the same period last year.

Before minority interest, the company recorded a net profit of SAR 7.7 million, versus a loss of SAR 19.6 million in the corresponding period of 2024.

Financials (M)

Item	9m 2024	9m 2025	Change‬
Revenues	2,116.67	2,465.87	16.5 %
Gross Income	242.27	271.52	12.1 %
Operating Income	31.01	67.87	118.9 %
Net Income	(54.48)	(14.16)	74.0 %
Average Shares	30.23	34.74	14.9 %
Earnings Per Share before unusual items (Riyals)	(1.80)	(0.41)	77.4 %
EPS (Riyal)	(1.80)	(0.41)	77.4 %

The improved performance was mainly driven by a 16% year-on-year (YoY) rise in revenue to SAR 2.46 billion, supported by stronger operational efficiency and higher contribution margins, which helped absorb fixed costs.

The gross profit margin stood at 11% in 9M 2025, slightly down from 11.4% a year earlier, reflecting the execution of projects with a marginally lower profitability.

Operating profit more than doubled to SAR 68 million in 9M 2025, from SAR 31 million last year. This came thanks to a 2% YoY decline in selling, distribution, and administrative expenses and a 13% drop in expected credit losses.

Meanwhile, financing costs rose 36% YoY due to higher borrowing levels.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2024	Q3 2025	Change‬
Revenues	705.72	986.02	39.7 %
Gross Income	73.79	88.55	20.0 %
Operating Income	1.31	25.04	1809.9 %
Net Income	(30.40)	(1.67)	94.5 %
Average Shares	30.23	34.74	14.9 %
Earnings Per Share before unusual items (Riyal)	(1.01)	(0.05)	95.2 %
EPS (Riyal)	(1.01)	(0.05)	95.2 %

Item	Q2 2025	Q3 2025	Change‬
Revenues	779.18	986.02	26.5 %
Gross Income	90.48	88.55	(2.1 %)
Operating Income	23.72	25.04	5.6 %
Net Income	(1.26)	(1.67)	(33.2 %)
Average Shares	34.74	34.74	-
Earnings Per Share before unusual items (Riyal)	(0.04)	(0.05)	(33.2 %)
EPS (Riyal)	(0.04)	(0.05)	(33.2 %)

In Q3 2025, the company’s losses shrank to SAR 1.7 million, versus SAR 30.34 million in the same quarter last year, supported by a 40% YoY increase in revenue to SAR 986 million.

Sequentially, meanwhile, Red Sea reported higher losses compared to SAR 1.26 million in Q2 2025, despite a 27% quarter-on-quarter (QoQ) rise in revenue to SAR 986 million.

Shareholders’ equity, after minority interest, stood at SAR (6.58) million by the end of the nine-month period, compared to SAR 16.35 million a year earlier.

As of Sept. 30, 2025, accumulated losses amounted to SAR 297.15 million, accounting for 98.3% of capital.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2016	271.78	(1.3 %)	74.95	11.6 %	39.13	13.6 %
Q2 2016	267.32	12.7 %	70.01	19.0 %	38.96	73.0 %
Q3 2016	251.25	10.0 %	60.44	24.9 %	22.29	203.4 %
Q4 2016	240.07	(16.3 %)	57.94	(27.7 %)	20.63	(38.6 %)
2016	1,030.42	0.2 %	263.34	2.5 %	121.01	25.5 %
Q1 2017	227.33	(16.4 %)	45.28	(39.6 %)	14.90	(61.9 %)
Q2 2017	198.79	(25.6 %)	29.52	(57.8 %)	(3.34)	(108.6 %)
Q3 2017	186.23	(25.9 %)	23.47	(61.2 %)	(7.72)	(134.6 %)
Q4 2017	160.77	(33.0 %)	(23.12)	(139.9 %)	(51.35)	(348.9 %)
2017	773.12	(25.0 %)	75.15	(71.5 %)	(47.51)	(139.3 %)
Q1 2018	147.68	(35.0 %)	10.57	(76.6 %)	(12.95)	(186.9 %)
Q2 2018	201.18	1.2 %	19.38	(34.4 %)	(3.40)	(1.8 %)
Q3 2018	188.50	1.2 %	15.75	(32.9 %)	(7.37)	4.4 %
Q4 2018	121.26	(24.6 %)	32.06	238.7 %	(2.77)	94.6 %
2018	658.62	(14.8 %)	79.73	6.1 %	(26.50)	44.2 %
Q1 2019	119.24	(19.3 %)	7.01	(33.7 %)	(14.72)	(13.7 %)
Q2 2019	123.33	(38.7 %)	0.00	(100.0 %)	(22.33)	(556.9 %)
Q3 2019	141.15	(25.1 %)	2.73	(82.7 %)	(21.40)	(190.2 %)
Q4 2019	222.34	83.4 %	30.98	(3.4 %)	7.46	369.0 %
2019	606.07	(8.0 %)	40.71	(48.9 %)	(50.99)	(92.4 %)
Q1 2020	155.47	30.4 %	6.14	(12.4 %)	(20.45)	(38.9 %)
Q2 2020	128.81	4.4 %	0.40	13366.7 %	(25.31)	(13.4 %)
Q3 2020	114.00	(19.2 %)	(23.32)	(955.9 %)	(41.51)	(94.0 %)
Q4 2020	135.25	(39.2 %)	(11.56)	(137.3 %)	(51.28)	(787.5 %)
2020	533.52	(12.0 %)	(28.35)	(169.6 %)	(138.55)	(171.7 %)
Q1 2021	108.36	(30.3 %)	(8.82)	(243.7 %)	(28.64)	(40.1 %)
Q2 2021	127.66	(0.9 %)	(6.32)	(1688.2 %)	(26.17)	(3.4 %)
Q3 2021	119.34	4.7 %	(8.63)	63.0 %	(27.77)	33.1 %
Q4 2021	112.84	(16.6 %)	(4.57)	60.4 %	(26.80)	47.7 %
2021	468.20	(12.2 %)	(28.34)	0.0 %	(109.38)	21.1 %
Q1 2022	117.23	8.2 %	(3.94)	55.3 %	(21.54)	24.8 %
Q2 2022	62.57	(51.0 %)	(26.93)	(326.1 %)	(46.45)	(77.5 %)
Q3 2022	89.41	(25.1 %)	(32.26)	(273.7 %)	(51.27)	(84.6 %)
Q4 2022	135.00	19.6 %	6.54	243.0 %	(66.82)	(149.3 %)
2022	404.21	(13.7 %)	(56.60)	(99.7 %)	(186.07)	(70.1 %)
Q1 2023	116.39	(0.7 %)	2.45	162.0 %	(12.39)	42.5 %
Q2 2023	105.74	69.0 %	0.50	101.9 %	(12.05)	74.1 %
Q3 2023	121.60	36.0 %	5.85	118.1 %	(8.56)	83.3 %
Q4 2023	1,034.76	666.5 %	100.80	1441.0 %	39.37	158.9 %
2023	1,378.49	241.0 %	109.60	293.7 %	6.37	103.4 %
Q1 2024	659.21	466.4 %	67.15	2646.4 %	3.26	126.3 %
Q2 2024	751.74	610.9 %	101.34	20086.9 %	26.43	319.4 %
Q3 2024	705.72	480.3 %	73.79	1160.6 %	1.31	115.3 %
Q4 2024	867.57	(16.2 %)	100.93	0.1 %	17.86	(54.6 %)
2024	2,984.24	116.5 %	347.05	216.6 %	70.13	1001.1 %
Q1 2025	700.66	6.3 %	92.49	37.7 %	19.12	485.8 %
Q2 2025	779.18	3.7 %	90.48	(10.7 %)	23.72	(10.3 %)
Q3 2025	986.02	39.7 %	88.55	20.0 %	25.04	1809.9 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	1,027.89	(7.0 %)	256.80	(13.0 %)	96.39	(44.4 %)
2016	1,030.42	0.2 %	263.34	2.5 %	121.01	25.5 %
2017	773.12	(25.0 %)	75.15	(71.5 %)	(47.51)	(139.3 %)
2018	658.62	(14.8 %)	79.73	6.1 %	(26.50)	44.2 %
2019	606.07	(8.0 %)	40.71	(48.9 %)	(50.99)	(92.4 %)
2020	533.52	(12.0 %)	(28.35)	(169.6 %)	(138.55)	(171.7 %)
2021	468.20	(12.2 %)	(28.34)	0.0 %	(109.38)	21.1 %
2022	404.21	(13.7 %)	(56.60)	(99.7 %)	(186.07)	(70.1 %)
2023	1,378.49	241.0 %	109.60	293.7 %	6.37	103.4 %
2024	2,984.24	116.5 %	347.05	216.6 %	70.13	1001.1 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
Q1 2016	31.77	5.8 %	1.05	-	31.77	1.05
Q2 2016	31.16	83.1 %	1.03	-	31.16	1.03
Q3 2016	10.50	439.6 %	0.35	-	10.50	0.35
Q4 2016	16.91	(37.6 %)	0.56	-	16.91	0.56
2016	90.34	18.7 %	2.99	-	90.34	2.99
Q1 2017	8.70	(72.6 %)	0.29	-	8.70	0.29
Q2 2017	(5.57)	(117.9 %)	(0.18)	-	(5.57)	(0.18)
Q3 2017	(12.66)	(220.6 %)	(0.42)	-	(12.66)	(0.42)
Q4 2017	(55.77)	(429.8 %)	(1.84)	-	(55.77)	(1.84)
2017	(65.30)	(172.3 %)	(2.16)	-	(65.30)	(2.16)
Q1 2018	(15.42)	(277.1 %)	(0.51)	-	(15.42)	(0.51)
Q2 2018	(9.82)	(76.1 %)	(0.32)	-	(9.82)	(0.32)
Q3 2018	(13.78)	(8.8 %)	(0.46)	-	(13.78)	(0.46)
Q4 2018	(46.73)	16.2 %	(1.55)	(11.80)	(34.93)	(1.16)
2018	(85.74)	(31.3 %)	(2.84)	(11.80)	(73.94)	(2.45)
Q1 2019	(17.97)	(16.6 %)	(0.59)	-	(17.97)	(0.59)
Q2 2019	(27.53)	(180.4 %)	(0.91)	-	(27.53)	(0.91)
Q3 2019	(27.89)	(102.4 %)	(0.92)	-	(27.89)	(0.92)
Q4 2019	(1.47)	96.9 %	(0.05)	(4.96)	3.49	0.12
2019	(74.85)	12.7 %	(2.48)	(4.96)	(69.89)	(2.31)
Q1 2020	(25.13)	(39.9 %)	(0.83)	-	(25.13)	(0.83)
Q2 2020	(27.31)	0.8 %	(0.90)	-	(27.31)	(0.90)
Q3 2020	(44.83)	(60.7 %)	(1.48)	-	(44.83)	(1.48)
Q4 2020	(61.05)	(4,053.2 %)	(2.02)	-	(61.05)	(2.02)
2020	(158.32)	(111.5 %)	(5.24)	-	(158.32)	(5.24)
Q1 2021	(32.66)	(29.9 %)	(1.08)	-	(32.66)	(1.08)
Q2 2021	(29.43)	(7.7 %)	(0.97)	-	(29.43)	(0.97)
Q3 2021	(31.19)	30.4 %	(1.03)	-	(31.19)	(1.03)
Q4 2021	(37.17)	39.1 %	(1.23)	-	(37.17)	(1.23)
2021	(130.44)	17.6 %	(4.31)	-	(130.44)	(4.31)
Q1 2022	(18.82)	42.4 %	(0.62)	-	(18.82)	(0.62)
Q2 2022	(47.71)	(62.1 %)	(1.58)	-	(47.71)	(1.58)
Q3 2022	(56.01)	(79.6 %)	(1.85)	-	(56.01)	(1.85)
Q4 2022	(73.59)	(98.0 %)	(2.43)	(7.31)	(66.28)	(2.19)
2022	(196.13)	(50.4 %)	(6.49)	(7.31)	(188.83)	(6.25)
Q1 2023	(18.58)	1.3 %	(0.61)	-	(18.58)	(0.61)
Q2 2023	(19.13)	59.9 %	(0.63)	-	(19.13)	(0.63)
Q3 2023	(14.96)	73.3 %	(0.49)	-	(14.96)	(0.49)
Q4 2023	4.65	106.3 %	0.15	5.52	(0.87)	(0.03)
2023	(48.02)	75.5 %	(1.59)	5.52	(53.54)	(1.77)
Q1 2024	(18.93)	(1.9 %)	(0.63)	-	(18.93)	(0.63)
Q2 2024	(5.15)	73.1 %	(0.17)	-	(5.15)	(0.17)
Q3 2024	(30.40)	(103.2 %)	(1.01)	-	(30.40)	(1.01)
Q4 2024	(16.78)	(460.6 %)	(0.55)	-	(16.78)	(0.55)
2024	(62.37)	(29.9 %)	(2.06)	-	(62.37)	(2.06)
Q1 2025	(11.23)	40.7 %	(0.32)	-	(11.23)	(0.32)
Q2 2025	(1.26)	75.6 %	(0.04)	-	(1.26)	(0.04)
Q3 2025	(1.67)	94.5 %	(0.05)	-	(1.67)	(0.05)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
2015	76.10	(51.4 %)	2.52	-	76.10	2.52
2016	90.34	18.7 %	2.99	-	90.34	2.99
2017	(65.30)	(172.3 %)	(2.16)	-	(65.30)	(2.16)
2018	(85.74)	(31.3 %)	(2.84)	(11.80)	(73.94)	(2.45)
2019	(74.85)	12.7 %	(2.48)	(4.96)	(69.89)	(2.31)
2020	(158.32)	(111.5 %)	(5.24)	-	(158.32)	(5.24)
2021	(130.44)	17.6 %	(4.31)	-	(130.44)	(4.31)
2022	(196.13)	(50.4 %)	(6.49)	(7.31)	(188.83)	(6.25)
2023	(48.02)	75.5 %	(1.59)	5.52	(53.54)	(1.77)
2024	(62.37)	(29.9 %)	(2.06)	-	(62.37)	(2.06)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	25.61 %	20.64 %	7.60 %
Q2 2016	25.94 %	21.75 %	8.72 %
Q3 2016	26.51 %	22.60 %	9.33 %
Q4 2016	25.56 %	22.50 %	8.77 %
2016	25.56 %	22.50 %	8.77 %
Q1 2017	23.70 %	21.09 %	6.82 %
Q2 2017	21.06 %	18.07 %	3.33 %
Q3 2017	18.33 %	15.29 %	0.87 %
Q4 2017	9.72 %	7.52 %	(8.45 %)
2017	9.72 %	7.52 %	(8.45 %)
Q1 2018	5.83 %	3.96 %	(12.89 %)
Q2 2018	4.35 %	3.42 %	(13.46 %)
Q3 2018	3.24 %	3.51 %	(13.58 %)
Q4 2018	11.81 %	9.95 %	(11.23 %)
2018	12.11 %	9.95 %	(11.23 %)
Q1 2019	11.77 %	10.01 %	(12.14 %)
Q2 2019	9.93 %	8.31 %	(17.05 %)
Q3 2019	8.28 %	6.69 %	(21.45 %)
Q4 2019	6.72 %	7.16 %	(11.53 %)
2019	6.72 %	7.16 %	(11.53 %)
Q1 2020	6.20 %	5.40 %	(12.00 %)
Q2 2020	6.21 %	4.30 %	(11.86 %)
Q3 2020	2.29 %	0.51 %	(15.11 %)
Q4 2020	(5.31 %)	(11.03 %)	(29.68 %)
2020	(5.31 %)	(11.03 %)	(29.68 %)
Q1 2021	(8.90 %)	(14.12 %)	(34.10 %)
Q2 2021	(10.31 %)	(14.76 %)	(34.61 %)
Q3 2021	(7.20 %)	(12.11 %)	(31.46 %)
Q4 2021	(6.05 %)	(7.38 %)	(27.86 %)
2021	(6.05 %)	(7.38 %)	(27.86 %)
Q1 2022	(4.92 %)	(6.01 %)	(24.44 %)
Q2 2022	(10.70 %)	(12.50 %)	(32.74 %)
Q3 2022	(17.72 %)	(20.15 %)	(41.80 %)
Q4 2022	(14.00 %)	(29.33 %)	(46.72 %)
2022	(14.00 %)	(29.33 %)	(46.72 %)
Q1 2023	(12.45 %)	(26.56 %)	(46.75 %)
Q2 2023	(5.10 %)	(16.18 %)	(35.83 %)
Q3 2023	3.20 %	(6.30 %)	(24.85 %)
Q4 2023	7.95 %	7.43 %	(3.88 %)
2023	7.95 %	7.43 %	(3.88 %)
Q1 2024	9.07 %	7.43 %	(2.80 %)
Q2 2024	10.72 %	8.16 %	(1.55 %)
Q3 2024	10.89 %	7.98 %	(1.76 %)
Q4 2024	11.50 %	7.81 %	(2.39 %)
2024	11.63 %	8.52 %	(2.09 %)
Q1 2025	12.18 %	8.30 %	(2.10 %)
Q2 2025	11.72 %	8.18 %	(1.95 %)
Q3 2025	11.17 %	8.12 %	(0.93 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	24.98 %	20.18 %	7.40 %
2016	25.56 %	22.50 %	8.77 %
2017	9.72 %	7.52 %	(8.45 %)
2018	12.11 %	9.95 %	(11.23 %)
2019	6.72 %	7.16 %	(11.53 %)
2020	(5.31 %)	(11.03 %)	(29.68 %)
2021	(6.05 %)	(7.38 %)	(27.86 %)
2022	(14.00 %)	(29.33 %)	(46.72 %)
2023	7.95 %	7.43 %	(3.88 %)
2024	11.63 %	8.52 %	(2.09 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	27.58 %	24.33 %	11.69 %
Q2 2016	26.19 %	24.54 %	11.66 %
Q3 2016	24.05 %	19.89 %	4.18 %
Q4 2016	24.13 %	20.88 %	7.04 %
Q1 2017	19.92 %	18.58 %	3.83 %
Q2 2017	14.85 %	11.79 %	(2.80 %)
Q3 2017	12.60 %	7.81 %	(6.80 %)
Q4 2017	(14.38 %)	(13.72 %)	(34.69 %)
Q1 2018	7.16 %	7.79 %	(10.44 %)
Q2 2018	9.63 %	9.84 %	(4.88 %)
Q3 2018	8.36 %	8.11 %	(7.31 %)
Q4 2018	26.44 %	15.61 %	(28.80 %)
Q1 2019	5.88 %	7.60 %	(15.07 %)
Q2 2019	0.00 %	2.13 %	(22.32 %)
Q3 2019	1.93 %	2.25 %	(19.76 %)
Q4 2019	13.93 %	12.83 %	1.57 %
Q1 2020	3.95 %	0.24 %	(16.17 %)
Q2 2020	0.31 %	(3.27 %)	(21.21 %)
Q3 2020	(20.46 %)	(18.88 %)	(39.32 %)
Q4 2020	(8.55 %)	(24.75 %)	(45.14 %)
Q1 2021	(8.14 %)	(8.76 %)	(30.14 %)
Q2 2021	(4.95 %)	(5.61 %)	(23.05 %)
Q3 2021	(7.23 %)	(7.78 %)	(26.13 %)
Q4 2021	(4.05 %)	(7.64 %)	(32.94 %)
Q1 2022	(3.36 %)	(3.09 %)	(16.06 %)
Q2 2022	(43.05 %)	(47.88 %)	(76.25 %)
Q3 2022	(36.08 %)	(38.89 %)	(62.64 %)
Q4 2022	4.85 %	(37.18 %)	(49.10 %)
Q1 2023	2.10 %	6.69 %	(15.96 %)
Q2 2023	0.47 %	4.68 %	(18.09 %)
Q3 2023	4.81 %	6.01 %	(12.30 %)
Q4 2023	9.74 %	7.97 %	(0.08 %)
Q1 2024	10.19 %	7.28 %	(2.87 %)
Q2 2024	13.48 %	9.53 %	(0.69 %)
Q3 2024	10.46 %	7.01 %	(4.31 %)
Q4 2024	11.63 %	7.37 %	(1.93 %)
Q1 2025	13.20 %	9.41 %	(1.60 %)
Q2 2025	11.61 %	9.03 %	(0.16 %)
Q3 2025	8.98 %	7.16 %	(0.17 %)

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	30.23	2.57	2.57	30.61
Q2 2016	30.23	3.04	3.04	30.07
Q3 2016	30.23	3.33	3.33	30.40
Q4 2016	30.23	2.99	2.99	30.81
Q1 2017	30.23	2.23	2.23	31.18
Q2 2017	30.23	1.01	1.01	29.57
Q3 2017	30.23	0.24	0.24	29.16
Q4 2017	30.23	(2.16)	(2.16)	27.03
Q1 2018	30.23	(2.96)	(2.96)	26.10
Q2 2018	30.23	(3.10)	(3.10)	25.69
Q3 2018	30.23	(3.13)	(3.13)	25.22
Q4 2018	30.23	(2.84)	(2.45)	23.53
Q1 2019	30.23	(2.92)	(2.53)	22.91
Q2 2019	30.23	(3.51)	(3.12)	22.06
Q3 2019	30.23	(3.97)	(3.58)	21.12
Q4 2019	30.23	(2.48)	(2.31)	19.94
Q1 2020	30.23	(2.71)	(2.55)	19.98
Q2 2020	30.23	(2.71)	(2.54)	19.07
Q3 2020	30.23	(3.27)	(3.10)	17.59
Q4 2020	30.23	(5.24)	(5.24)	14.61
Q1 2021	30.23	(5.49)	(5.49)	13.54
Q2 2021	30.23	(5.56)	(5.56)	12.57
Q3 2021	30.23	(5.10)	(5.10)	11.53
Q4 2021	30.23	(4.31)	(4.31)	10.23
Q1 2022	30.23	(3.86)	(3.86)	9.61
Q2 2022	30.23	(4.46)	(4.46)	8.03
Q3 2022	30.23	(5.28)	(5.28)	6.18
Q4 2022	30.23	(6.49)	(6.25)	3.91
Q1 2023	30.23	(6.48)	(6.24)	3.29
Q2 2023	30.23	(5.53)	(5.29)	2.66
Q3 2023	30.23	(4.18)	(3.93)	2.16
Q4 2023	30.23	(1.59)	(1.77)	2.34
Q1 2024	30.23	(1.60)	(1.78)	1.72
Q2 2024	30.23	(1.14)	(1.32)	1.55
Q3 2024	30.23	(1.65)	(1.83)	0.54
Q4 2024	30.23	(2.36)	(2.36)	0.24
Q1 2025	34.74	(1.83)	(1.83)	(0.13)
Q2 2025	34.74	(1.72)	(1.72)	(0.16)
Q3 2025	34.74	(0.89)	(0.89)	(0.22)

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	30.23	2.52	2.52	32.05
2016	30.23	2.99	2.99	30.81
2017	30.23	(2.16)	(2.16)	27.03
2018	30.23	(2.84)	(2.45)	23.53
2019	30.23	(2.48)	(2.31)	19.94
2020	30.23	(5.24)	(5.24)	14.61
2021	30.23	(4.31)	(4.31)	10.23
2022	30.23	(6.49)	(6.25)	3.91
2023	30.23	(1.59)	(1.77)	2.34
2024	30.23	(2.06)	(2.06)	0.24

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Recurring P/E	Price/book
Q1 2016	29.69	29.69	2.50
Q2 2016	26.36	26.36	2.67
Q3 2016	21.20	21.20	2.32
Q4 2016	31.33	31.33	3.04
Q1 2017	35.90	35.90	2.56
Q2 2017	60.91	60.91	2.08
Q3 2017	More than 100	More than 100	2.23
Q4 2017	NEG	NEG	2.24
Q1 2018	NEG	NEG	2.16
Q2 2018	NEG	NEG	2.31
Q3 2018	NEG	NEG	1.90
Q4 2018	NEG	NEG	2.14
Q1 2019	NEG	NEG	2.17
Q2 2019	NEG	NEG	2.02
Q3 2019	NEG	NEG	2.05
Q4 2019	NEG	NEG	2.22
Q1 2020	NEG	NEG	1.60
Q2 2020	NEG	NEG	2.09
Q3 2020	NEG	NEG	3.33
Q4 2020	NEG	NEG	4.82
Q1 2021	NEG	NEG	6.39
Q2 2021	NEG	NEG	7.79
Q3 2021	NEG	NEG	7.51
Q4 2021	NEG	NEG	6.54
Q1 2022	NEG	NEG	6.57
Q2 2022	NEG	NEG	5.41
Q3 2022	NEG	NEG	8.09
Q4 2022	NEG	NEG	9.23
Q1 2023	NEG	NEG	12.20
Q2 2023	NEG	NEG	15.43
Q3 2023	NEG	NEG	16.88
Q4 2023	NEG	NEG	16.15
Q1 2024	NEG	NEG	27.90
Q2 2024	NEG	NEG	29.58
Q3 2024	NEG	NEG	197.13
Q4 2024	NEG	NEG	408.28
Q1 2025	NEG	NEG	(524.67)
Q2 2025	NEG	NEG	(452.75)
Q3 2025	NEG	NEG	(328.98)

Period	P/E	Recurring P/E	Price/book
2015	30.74	30.74	2.41
2016	31.33	31.33	3.04
2017	NEG	NEG	2.24
2018	NEG	NEG	2.14
2019	NEG	NEG	2.22
2020	NEG	NEG	4.82
2021	NEG	NEG	6.54
2022	NEG	NEG	9.23
2023	NEG	NEG	16.15
2024	NEG	NEG	408.28

Business Segments (Million)

Compared With The

Period	General Construction	Nonconcrete residential and commercial buildings	Rentals from investment properties	Paints
Q1 2016	-	144.90	109.31	17.57
Q2 2016	-	142.61	106.14	18.57
Q3 2016	-	140.72	99.25	11.29
Q4 2016	-	135.03	88.92	19.05
Q1 2017	-	128.22	84.72	14.39
Q2 2017	-	105.23	81.14	12.42
Q3 2017	-	98.66	76.24	11.33
Q4 2017	-	77.69	74.08	9.00
Q1 2018	-	70.54	64.99	12.16
Q2 2018	-	123.48	67.30	10.40
Q3 2018	-	110.77	66.99	10.74
Q4 2018	-	41.44	67.39	12.43
Q1 2019	-	54.21	55.69	9.35
Q2 2019	-	62.44	51.32	9.30
Q3 2019	-	77.50	53.11	10.55
Q4 2019	-	158.09	51.30	12.95
Q1 2020	-	91.58	55.10	8.78
Q2 2020	-	67.98	58.00	2.83
Q3 2020	-	70.91	38.83	4.26
Q4 2020	-	88.93	37.72	8.60
Q1 2021	-	54.20	47.00	7.16
Q2 2021	-	66.25	54.94	6.47
Q3 2021	-	69.80	46.48	3.06
Q4 2021	-	54.97	54.57	3.31
Q1 2022	-	78.06	36.09	3.08
Q2 2022	-	16.87	41.42	4.28
Q3 2022	-	42.99	44.08	2.34
Q4 2022	-	101.71	42.98	-
Q1 2023	-	78.82	37.56	-
Q2 2023	-	66.98	38.77	-
Q3 2023	-	83.35	38.25	-
Q4 2023	869.25	128.61	36.65	-
Q1 2024	591.08	26.40	41.73	-
Q2 2024	609.29	106.91	35.54	-
Q3 2024	646.34	37.34	22.05	-
Q4 2024	779.49	57.87	30.20	-
Q1 2025	600.11	59.76	40.79	-
Q2 2025	641.52	89.73	47.93	-
Q3 2025	777.79	170.17	38.06	-

Period	General Construction	Nonconcrete residential and commercial buildings	Rentals from investment properties	Paints
2015	-	545.33	438.77	43.79
2016	-	563.25	403.61	66.48
2017	-	409.80	316.19	47.13
2018	-	346.23	266.66	45.72
2019	-	352.23	211.69	42.15
2020	-	319.41	189.64	24.48
2021	-	245.22	202.98	20.00
2022	-	239.63	164.58	-
2023	869.25	358.01	151.23	-
2024	2,626.20	228.52	129.52	-

Financial Ratios

	Current
Market Cap (M Riyal)	1,236.68
Enterprise Value (EV) (M Riyal)	2,122.57
Shares Outstanding ((M))	48.27
EPS ( Riyal) (TTM)	(0.89)
Book Value (BV) ( Riyal)	(0.22)
Par Value ( Riyal)	10.00
Recurring P/E	Neg
P/E (TTM)	NEG
Price/book	(187.72)
Return on Average Assets (%) (TTM)	(0.99 )
Return on Average Equity (%) (TTM)	(633.27 )
EV/adj EBITDA	7.84
EV/Revenues	0.64

Red Sea International Co. (RED SEA)

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Red Sea incurs losses of SAR 14M in 9M 2025, SAR 1.7M in Q3

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Per Share Data (Riyal)

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Red Sea incurs losses of SAR 14M in 9M 2025, SAR 1.7M in Q3

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) Q3 2025

Revenue by Business Segment (Latest) 2025 Q3

Financial Ratios

Share Price

Red Sea International Co. (RED SEA)

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Red Sea incurs losses of SAR 14M in 9M 2025, SAR 1.7M in Q3

Business Segments (Million)