Financial Results : Saudi Printing loses SAR 267.3M in 2025, SAR 171.3M in Q4

Saudi Printing loses SAR 267.3M in 2025, SAR 171.3M in Q4

24/03/2026 Argaam Exclusive

View other reports

Saudi Printing and Packaging Co. (SPPC) reported a wider net loss of SAR 267.3 million in 2025, compared with SAR 219.4 million a year earlier.



Financials (M)

Item 2024 2025 Change‬
Revenues 721.20 572.96 (20.6 %)
Gross Income 31.21 20.74 (33.6 %)
Operating Income (80.97) (95.95) (18.5 %)
Net Income (219.41) (267.34) (21.8 %)
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyals) (2.48) (2.37) 4.5 %
EPS (Riyal) (3.66) (4.46) (21.8 %)

The company said lower sales during the 12-month period were mainly due to a decline in revenues from its printing and packaging segments.

 

Losses were also driven by provisions and asset impairments totaling SAR 132.4 million, including goodwill impairment, write-downs of machinery and equipment, and a provision for expected credit losses (ECL) on trade receivables.

 

In the fourth quarter of 2025, SPPC posted a net loss of SAR 171.3 million, widening from SAR 88.1 million in the same period a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Revenues 179.51 115.63 (35.6 %)
Gross Income 1.77 (2.40) (235.0 %)
Operating Income (25.53) (40.06) (56.9 %)
Net Income (88.02) (171.26) (94.6 %)
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyal) (0.77) (0.85) (10.9 %)
EPS (Riyal) (1.47) (2.85) (94.6 %)

Sequentially, losses increased from SAR 40.5 million in Q3 2025

 

Shareholders’ equity, with no minority interest, reached SAR 12.3 million as of Dec. 31, 2025, compared to SAR 281.41 million in the year-earlier period.

 

Accumulated losses reached SAR 590.3 million by the end of the 12-month period, representing 98.38% of the company’s capital.

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 254.40 (10.0 %) 55.46 (10.5 %) 10.50 (19.4 %)
Q2 2016 259.38 (11.1 %) 55.65 (18.2 %) 11.82 (52.8 %)
Q3 2016 251.33 (2.5 %) 40.49 (27.7 %) (0.34) (103.9 %)
Q4 2016 240.29 (12.7 %) 37.63 (18.8 %) (15.92) (59.8 %)
Q1 2017 242.31 (4.8 %) 40.33 (27.3 %) (3.67) (134.9 %)
Q2 2017 253.08 (2.4 %) 40.06 (28.0 %) 2.63 (77.8 %)
Q3 2017 251.48 0.1 % 41.74 3.1 % 7.18 2223.4 %
Q4 2017 244.81 1.9 % 35.16 (6.6 %) (5.35) 66.4 %
Q1 2018 202.57 (16.4 %) 25.02 (38.0 %) (6.05) (65.1 %)
Q2 2018 256.11 1.2 % 37.75 (5.8 %) 6.25 137.8 %
Q3 2018 276.34 9.9 % 30.63 (26.6 %) 0.39 (94.6 %)
Q4 2018 283.47 15.8 % 30.51 (13.2 %) (3.48) 35.0 %
Q1 2019 202.04 (0.3 %) 21.16 (15.4 %) (8.75) (44.6 %)
Q2 2019 237.62 (7.2 %) 29.23 (22.6 %) (0.44) (107.1 %)
Q3 2019 252.51 (8.6 %) 46.06 50.4 % 15.18 3791.3 %
Q4 2019 232.17 (18.1 %) 34.62 13.5 % 0.97 127.8 %
Q1 2020 194.27 (3.8 %) 26.89 27.1 % (3.05) 65.2 %
Q2 2020 199.63 (16.0 %) 37.40 28.0 % 8.58 2041.0 %
Q3 2020 204.45 (19.0 %) 38.23 (17.0 %) 8.54 (43.7 %)
Q4 2020 169.34 (27.1 %) 25.83 (25.4 %) (0.11) (111.7 %)
Q1 2021 173.44 (10.7 %) 22.87 (14.9 %) (5.17) (69.7 %)
Q2 2021 194.21 (2.7 %) 21.34 (42.9 %) (6.26) (172.9 %)
Q3 2021 203.61 (0.4 %) 19.14 (49.9 %) (8.74) (202.4 %)
Q4 2021 212.38 25.4 % 25.62 (0.8 %) (3.02) (2,571.7 %)
Q1 2022 236.42 36.3 % 34.20 49.5 % 0.06 101.2 %
Q2 2022 270.24 39.1 % 40.49 89.8 % 10.23 263.6 %
Q3 2022 261.15 28.3 % 35.64 86.2 % 3.70 142.3 %
Q4 2022 232.29 9.4 % 32.07 25.1 % 5.72 289.4 %
Q1 2023 210.93 (10.8 %) 28.60 (16.4 %) (1.62) (2719.5 %)
Q2 2023 191.89 (29.0 %) 22.22 (45.1 %) (5.85) (157.1 %)
Q3 2023 204.26 (21.8 %) 18.43 (48.3 %) (7.61) (305.6 %)
Q4 2023 172.08 (25.9 %) (2.11) (106.6 %) (22.23) (488.8 %)
Q1 2024 186.90 (11.4 %) 15.95 (44.2 %) (9.80) (503.1 %)
Q2 2024 174.45 (9.1 %) 6.22 (72.0 %) (23.08) (294.8 %)
Q3 2024 180.34 (11.7 %) 7.28 (60.5 %) (22.56) (196.6 %)
Q4 2024 179.51 4.3 % 1.77 184.0 % (25.53) (14.8 %)
Q1 2025 164.90 (11.8 %) 11.97 (24.9 %) (13.48) (37.6 %)
Q2 2025 160.20 (8.2 %) 8.14 31.0 % (20.31) 12.0 %
Q3 2025 132.24 (26.7 %) 3.02 (58.5 %) (22.09) 2.1 %
Q4 2025 115.63 (35.6 %) (2.40) (235.0 %) (40.06) (56.9 %)
2025 572.96 (20.6 %) 20.74 (33.6 %) (95.95) (18.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2016 3.82 (67.1 %) 0.06 5.71 (1.89) (0.03)
Q2 2016 0.39 (98.6 %) 0.01 1.41 (1.02) (0.02)
Q3 2016 (11.51) (205.6 %) (0.19) - (11.51) (0.19)
Q4 2016 (26.16) 12.1 % (0.44) - (26.16) (0.44)
Q1 2017 (15.80) (514.2 %) (0.26) - (15.80) (0.26)
Q2 2017 (12.81) (3385.4 %) (0.21) - (12.81) (0.21)
Q3 2017 (4.58) 60.2 % (0.08) - (4.58) (0.08)
Q4 2017 (36.26) (38.6 %) (0.60) (20.31) (15.96) (0.27)
Q1 2018 (18.66) (18.1 %) (0.31) - (18.66) (0.31)
Q2 2018 (3.07) 76.1 % (0.05) - (3.07) (0.05)
Q3 2018 (11.83) (158.6 %) (0.20) - (11.83) (0.20)
Q4 2018 (20.81) 42.6 % (0.35) - (20.81) (0.35)
Q1 2019 (23.02) (23.4 %) (0.38) - (23.02) (0.38)
Q2 2019 (13.69) (346.6 %) (0.23) - (13.69) (0.23)
Q3 2019 2.71 122.9 % 0.05 - 2.71 0.05
Q4 2019 (4.76) 77.1 % (0.08) 7.42 (12.18) (0.20)
Q1 2020 (14.91) 35.2 % (0.25) - (14.91) (0.25)
Q2 2020 1.49 110.9 % 0.02 - 1.49 0.02
Q3 2020 1.82 (32.6 %) 0.03 - 1.82 0.03
Q4 2020 (8.95) (88.0 %) (0.15) - (8.95) (0.15)
Q1 2021 (13.56) 9.1 % (0.23) - (13.56) (0.23)
Q2 2021 (15.35) (1128.3 %) (0.26) - (15.35) (0.26)
Q3 2021 (17.75) (1073.2 %) (0.30) - (17.75) (0.30)
Q4 2021 (12.64) (41.2 %) (0.21) - (12.64) (0.21)
Q1 2022 (3.28) 75.8 % (0.05) 5.10 (8.38) (0.14)
Q2 2022 0.90 105.9 % 0.02 - 0.90 0.02
Q3 2022 (3.86) 78.2 % (0.06) 3.06 (6.92) (0.12)
Q4 2022 (2.97) 76.5 % (0.05) 0.51 (3.48) (0.06)
Q1 2023 (15.32) (367.0 %) (0.26) - (15.32) (0.26)
Q2 2023 (20.12) (2335.8 %) (0.34) - (20.12) (0.34)
Q3 2023 (21.91) (466.9 %) (0.37) - (21.91) (0.37)
Q4 2023 (74.96) (2,419.6 %) (1.25) (36.02) (38.94) (0.65)
Q1 2024 (22.62) (47.7 %) (0.38) - (22.62) (0.38)
Q2 2024 (71.12) (253.4 %) (1.19) (28.65) (42.47) (0.71)
Q3 2024 (37.66) (71.9 %) (0.63) - (37.66) (0.63)
Q4 2024 (88.02) (17.4 %) (1.47) (42.04) (45.98) (0.77)
Q1 2025 (24.40) (7.9 %) (0.41) - (24.40) (0.41)
Q2 2025 (31.18) 56.2 % (0.52) - (31.18) (0.52)
Q3 2025 (40.50) (7.6 %) (0.68) (5.04) (35.46) (0.59)
Q4 2025 (171.26) (94.6 %) (2.85) (120.26) (50.99) (0.85)
2025 (267.34) (21.8 %) (4.46) (125.31) (142.04) (2.37)

Profitability

Period Gross Margin Adjusted EBITDA margin Net Margin Before Unusual Items
Q1 2016 20.93 % 10.03 % (0.97 %)
Q2 2016 20.39 % 9.10 % (2.39 %)
Q3 2016 19.03 % 8.58 % (2.98 %)
Q4 2016 18.82 % 8.52 % (4.04 %)
Q1 2017 17.53 % 7.41 % (5.48 %)
Q2 2017 16.06 % 6.54 % (6.71 %)
Q3 2017 16.18 % 7.34 % (6.01 %)
Q4 2017 15.86 % 8.23 % (4.96 %)
Q1 2018 14.91 % 8.18 % (5.46 %)
Q2 2018 14.63 % 8.59 % (4.43 %)
Q3 2018 13.12 % 7.69 % (5.05 %)
Q4 2018 12.17 % 7.46 % (5.34 %)
Q1 2019 11.79 % 7.11 % (5.77 %)
Q2 2019 11.16 % 6.08 % (6.94 %)
Q3 2019 13.01 % 7.61 % (5.62 %)
Q4 2019 14.18 % 8.86 % (5.00 %)
Q1 2020 14.93 % 9.56 % (4.15 %)
Q2 2020 16.50 % 10.40 % (2.61 %)
Q3 2020 16.51 % 9.85 % (2.86 %)
Q4 2020 16.72 % 9.27 % (2.68 %)
Q1 2021 16.65 % 8.37 % (2.57 %)
Q2 2021 14.60 % 6.65 % (4.86 %)
Q3 2021 12.04 % 3.99 % (7.51 %)
Q4 2021 11.35 % 3.51 % (7.57 %)
Q1 2022 11.85 % 3.93 % (6.39 %)
Q2 2022 12.95 % 5.44 % (4.10 %)
Q3 2022 13.87 % 6.44 % (2.76 %)
Q4 2022 14.24 % 7.66 % (1.79 %)
Q1 2023 14.04 % 7.90 % (2.55 %)
Q2 2023 13.22 % 6.96 % (5.12 %)
Q3 2023 12.07 % 6.15 % (7.25 %)
Q4 2023 8.62 % 2.62 % (12.36 %)
Q1 2024 7.22 % 1.61 % (13.72 %)
Q2 2024 5.22 % (0.49 %) (17.07 %)
Q3 2024 3.83 % (2.63 %) (19.85 %)
Q4 2024 4.33 % (3.03 %) (20.62 %)
2024 4.33 % (3.03 %) (20.62 %)
Q1 2025 3.90 % (3.84 %) (21.53 %)
Q2 2025 4.26 % (3.95 %) (20.33 %)
Q3 2025 3.91 % (4.38 %) (21.52 %)
Q4 2025 3.62 % (7.86 %) (24.79 %)
2025 3.62 % (7.86 %) (24.79 %)


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 60.00 0.22 (0.17) 15.49
Q2 2016 60.00 (0.24) (0.42) 15.50
Q3 2016 60.00 (0.62) (0.52) 15.33
Q4 2016 60.00 (0.56) (0.68) 14.90
Q1 2017 60.00 (0.88) (0.91) 14.62
Q2 2017 60.00 (1.10) (1.10) 14.41
Q3 2017 60.00 (0.99) (0.99) 14.33
Q4 2017 60.00 (1.16) (0.82) 13.69
Q1 2018 60.00 (1.21) (0.87) 13.38
Q2 2018 60.00 (1.04) (0.70) 13.32
Q3 2018 60.00 (1.16) (0.83) 13.13
Q4 2018 60.00 (0.91) (0.91) 12.59
Q1 2019 60.00 (0.98) (0.98) 12.19
Q2 2019 60.00 (1.16) (1.16) 11.98
Q3 2019 60.00 (0.91) (0.91) 12.01
Q4 2019 60.00 (0.65) (0.77) 12.07
Q1 2020 60.00 (0.51) (0.63) 11.81
Q2 2020 60.00 (0.26) (0.38) 11.84
Q3 2020 60.00 (0.27) (0.40) 11.87
Q4 2020 60.00 (0.34) (0.34) 11.71
Q1 2021 60.00 (0.32) (0.32) 11.48
Q2 2021 60.00 (0.60) (0.60) 11.22
Q3 2021 60.00 (0.93) (0.93) 10.93
Q4 2021 60.00 (0.99) (0.99) 10.70
Q1 2022 60.00 (0.82) (0.90) 10.64
Q2 2022 60.00 (0.55) (0.63) 10.66
Q3 2022 60.00 (0.31) (0.45) 10.59
Q4 2022 60.00 (0.15) (0.30) 10.63
Q1 2023 60.00 (0.35) (0.41) 10.38
Q2 2023 60.00 (0.70) (0.76) 10.04
Q3 2023 60.00 (1.01) (1.01) 9.68
Q4 2023 60.00 (2.21) (1.60) 8.36
Q1 2024 60.00 (2.33) (1.73) 7.98
Q2 2024 60.00 (3.18) (2.10) 6.80
Q3 2024 60.00 (3.44) (2.36) 6.17
Q4 2024 60.00 (3.66) (2.48) 4.69
Q1 2025 60.00 (3.69) (2.51) 4.28
Q2 2025 60.00 (3.02) (2.32) 3.76
Q3 2025 60.00 (3.07) (2.28) 3.09
Q4 2025 60.00 (4.46) (2.37) 0.20

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2016 92.58 NEG 1.31
Q2 2016 NEG NEG 1.25
Q3 2016 NEG NEG 0.76
Q4 2016 NEG NEG 1.35
Q1 2017 NEG NEG 1.17
Q2 2017 NEG NEG 1.00
Q3 2017 NEG NEG 1.62
Q4 2017 NEG NEG 1.47
Q1 2018 NEG NEG 1.43
Q2 2018 NEG NEG 1.47
Q3 2018 NEG NEG 1.30
Q4 2018 NEG NEG 1.29
Q1 2019 NEG NEG 1.32
Q2 2019 NEG NEG 1.17
Q3 2019 NEG NEG 1.08
Q4 2019 NEG NEG 1.08
Q1 2020 NEG NEG 0.95
Q2 2020 NEG NEG 1.20
Q3 2020 NEG NEG 1.88
Q4 2020 NEG NEG 2.28
Q1 2021 NEG NEG 2.32
Q2 2021 NEG NEG 3.02
Q3 2021 NEG NEG 2.66
Q4 2021 NEG NEG 2.23
Q1 2022 NEG NEG 2.07
Q2 2022 NEG NEG 1.59
Q3 2022 NEG NEG 1.71
Q4 2022 NEG NEG 1.79
Q1 2023 NEG NEG 1.91
Q2 2023 NEG NEG 1.99
Q3 2023 NEG NEG 1.89
Q4 2023 NEG NEG 2.02
Q1 2024 NEG NEG 2.12
Q2 2024 NEG NEG 2.25
Q3 2024 NEG NEG 2.57
Q4 2024 NEG NEG 2.84
Q1 2025 NEG NEG 2.66
Q2 2025 NEG NEG 3.54
Q3 2025 NEG NEG 3.96
Q4 2025 NEG NEG 45.06

Business Segments (Million)

Compared With The
Period packing and packaging Printing Other sectors & Investment activities elimination
Q1 2016 208.55 47.30 - (1.45)
Q2 2016 214.83 47.79 - (3.25)
Q3 2016 197.67 57.99 - (4.33)
Q4 2016 188.44 49.00 - -
Q1 2017 197.04 46.58 - (1.31)
Q2 2017 216.03 44.79 - (7.74)
Q3 2017 186.12 70.43 - (5.08)
Q4 2017 179.00 51.68 - -
Q1 2018 176.21 30.72 - (4.36)
Q2 2018 207.48 57.96 - (9.32)
Q3 2018 205.97 76.22 - (5.85)
Q4 2018 196.35 116.63 - (29.51)
Q1 2019 185.95 19.62 - (3.53)
Q2 2019 201.26 43.41 - (7.06)
Q3 2019 192.48 71.83 - (11.79)
Q4 2019 163.90 64.62 - 3.65
Q1 2020 176.92 17.89 - (0.55)
Q2 2020 167.22 46.42 - (14.01)
Q3 2020 155.72 59.97 - (11.24)
Q4 2020 130.68 24.14 - 14.52
Q1 2021 160.94 12.77 - (0.27)
Q2 2021 192.96 13.99 - (12.74)
Q3 2021 186.68 24.11 - (7.19)
Q4 2021 196.77 22.39 - (6.78)
Q1 2022 215.28 27.09 - (5.94)
Q2 2022 234.43 41.12 - (5.31)
Q3 2022 228.27 40.41 - (7.54)
Q4 2022 197.36 42.65 - (7.72)
Q1 2023 199.30 25.03 - (13.40)
Q2 2023 187.53 25.11 - (20.75)
Q3 2023 187.31 38.98 - (22.02)
Q4 2023 157.01 24.76 - (9.70)
Q1 2024 177.06 19.41 - (9.56)
Q2 2024 167.44 24.59 - (17.57)
Q3 2024 172.90 19.17 - (11.73)
Q4 2024 170.91 25.86 - (17.26)
Q1 2025 162.42 13.77 - (11.29)
Q2 2025 161.59 13.23 - (14.62)
Q3 2025 131.98 11.69 - (11.43)
Q4 2025 114.95 10.71 - (10.02)


Financial Ratios
Current
Market Cap (M Riyal) 522.90
Enterprise Value (EV) (M Riyal) 1,177.83
Shares Outstanding ((M)) 65.20
EPS ( Riyal) (TTM) (4.46)
Book Value (BV) ( Riyal) 0.20
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) NEG
Price/book 42.57
Return on Average Assets (%) (TTM) (25.73 )
Return on Average Equity (%) (TTM) (182.05 )
EV/adj EBITDA (26.14)
EV/Revenues 2.06
more

Share Price

Saudi Printing and Packaging Co.
8.03
(0.08) (0.99 %)

Saudi Printing and Packaging Co. (SPPC)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.