Mayar Holding Reports SAR 46.3M Net Loss in 2025
MAYAR 9568.SA | 0.00 |
On 2026-03-24 07:42:44 (Saudi Time), Mayar Holding Co. announced its Annual financial results for the twelve months ended on December 31, 2025.
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 399.22 | 446.74 | -10.64 | ||
| Gross Profit (Loss) | 42.75 | 75.25 | -43.19 | ||
| Operational Profit (Loss) | -39.33 | 23.16 | - | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -46.3 | 16.57 | - | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -42.47 | -10.59 | 301.04 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | -3.86 | 39.6 | - | ||
| Profit (Loss) per Share | -0.39 | 0.14 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | 12.79 | 21.32 | |
| Accumulated Losses | -45.72 | 76.2 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The decline in sales/revenue during the current year compared to the previous year is attributable to an 11% decrease in revenue, mainly driven by lower sales in certain key operating segments during the year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
The net loss recorded during the current year, compared to the net profit achieved in the previous year, was primarily attributable to the following factors:
• An 11% decline in revenue, mainly resulting from: o Lower feed sales, primarily due to pricing pressure in the poultry sector. o Lower sales in the elevators segment compared to the corresponding period of the previous year, due to delays in signing certain contracts and delays in the sukuk program intended to enhance working capital. o Lower profit margins across most product categories in the feed and poultry segment, driven by market pricing pressure, higher production costs, and increased operating expenses. • A working capital deficit, which adversely affected the efficiency of the Group’s operating activities. The Board of Directors is currently working on implementing solutions to address the working capital shortfall across the Group’s sectors. • An increase in general and administrative expenses, mainly attributable to the companies acquired in the elevators segment during the second half of 2024. Management is currently working on integrating certain functions to reduce costs and improve productivity going forward. • An increase in expected credit loss provisions during the period. • An increase in finance costs, due to higher financing costs during the year. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) |
Material Uncertainty Related to Going Concern
We draw attention to note 2 to the accompanying consolidated financial statements, which indicates that the Group incurred a net loss of SR 56.1 million during the year ended 31 December 2025, resulting in accumulated losses of SR 45.7 million which represents 76% of the share capital, as well as a net unrealized loss resulting from foreign currency translation reserve of SR 66.6 million (2024: SR 70.1 million). Moreover, as of that date, the Group’s current liabilities exceeded its current assets by SR 181 million (2024: SR 189 million). These events and conditions, along with other matters as set forth in note 2 to the accompanying consolidated financial statements, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter. |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to conform with the current period presentation. |
| Additional Information | As of 31 December 2025, accumulated losses amounted to SAR 45.7 million, representing 76.20% of the Company’s share capital. |
Year-on-Year Performance Drivers
Sales declined 10.64% YoY to SAR 399.22 million, primarily driven by lower feed sales due to pricing pressure in the poultry sector and reduced elevator segment sales from contract delays and sukuk program postponements. The company swung from a net profit of SAR 16.57 million to a net loss of SAR 46.3 million, caused by the revenue decline, compressed profit margins from higher production costs and market pricing pressure, increased general and administrative expenses from recent acquisitions, higher expected credit loss provisions, and increased finance costs.
Other Items
Auditors issued an unmodified opinion but highlighted material uncertainty related to going concern. The Group incurred a net loss of SAR 56.1 million during 2025, with current liabilities exceeding current assets by SAR 181 million (2024: SAR 189 million). Accumulated losses reached SAR 45.7 million, representing 76.2% of share capital. Additional factors include a net unrealized loss from foreign currency translation reserve of SAR 66.6 million. These conditions indicate material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern, though the auditor's opinion remains unmodified.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=93765&anCat=1&cs=9568&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.