Saudi Arabian Amiantit Reports SAR 78.10M Net Loss in 2025
AMIANTIT 2160.SA | 14.21 | +2.38% |
On 2026-03-12 15:33:02 (Saudi Time), Saudi Arabian Amiantit Co. announced its Annual financial results for the twelve months ended on December 31, 2025.
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 691,100 | 848,298 | -18.53 | ||
| Gross Profit (Loss) | 29,226 | 9,467 | 208.71 | ||
| Operational Profit (Loss) | -73,539 | -136,177 | -46 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -78,100 | 439,836 | - | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -45,717 | 385,896 | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 849,799 | 880,673 | -3.5 | ||
| Profit (Loss) per Share | -1.75 | 9.92 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | -190 | -0.04 | |
| All figures are in (Thousands) 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 decrease in revenues during 2025 compared to the previous year is mainly attributable to the following factors:
• The postponement of supply for certain internal projects by some customers, which led to a decline in sales. This postponement is expected to have a positive impact on the sales pipeline in the coming years.
• The Company recorded provisions related to foreign investments as a result of the shutdown of the manufacturing facility in the Republic of Poland due to the Russian–Ukrainian war.
• The company took a hedging provision as a result of the restructuring of some offshore associates. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
• Most of the losses recognized during 2025 are attributable to incurred losses in the operations of subsidiaries outside the Kingdom, in addition to the Company recognizing provisions related to foreign investments following the shutdown of the manufacturing facility in the Republic of Poland due to the Russian–Ukrainian war. Furthermore, restructuring provisions were recognized as a result of the restructuring of certain foreign subsidiary companies, along with a decline in sales orders for these companies, which collectively had a negative impact on the Company’s results for the year 2025.
•The company achieved accounting profit in the previous year, 2024, amounting to SAR 629.6 million, primarily driven by the company success in eliminating 77% of its bank obligations. |
| 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) | None |
| Reclassification of Comparison Items | None |
| Additional Information |
- The net earnings/(loss) per share for the fiscal year ending December 31, 2025, was SAR (1.75), calculated by dividing the net (loss) attributable to the shareholders of the company, amounting to SAR (78.1) million, by the average number of shares of 44,512,412 shares, for the fiscal year ending December 31, 2024, the net earnings per share was SAR 9.92, calculated by dividing the net profit attributable to the shareholders of the company, amounting to SAR 439.8 million, by the average number of shares of 44,332,412 shares.
- Regarding the calculation of earnings per share, it was computed according to International Accounting Standard 33 "Earnings per Share, the earnings per share were calculated by dividing the net profit/(loss) for the year ending in December 31, 2025 on the number of shares, which amounts to 44,550,000 adjusted by deducting the number of shares from the employee share option plan, which amounts to 37,588 shares. |
Year-on-Year Performance Drivers
Sales declined 18.53% YoY to SAR 691.10 million primarily due to customer postponement of internal project supplies and the shutdown of the Polish manufacturing facility caused by the Russian-Ukrainian war. The company swung from a net profit of SAR 439.84 million in 2024 to a net loss of SAR 78.10 million in 2025, mainly driven by losses from foreign subsidiaries, provisions related to the Polish facility closure, and restructuring costs for offshore operations. The previous year's strong profit was largely attributed to eliminating 77% of bank obligations, which did not recur in 2025.
Quarter-on-Quarter Performance Drivers
Revenue declined 18.53% to 691.10 million SAR due to customer postponement of internal project supplies and provisions for foreign investments following the Poland facility shutdown amid the Russian-Ukrainian war. The company swung to a net loss of 78.10 million SAR from a 439.84 million SAR profit in the previous year, primarily driven by losses from foreign subsidiaries, restructuring provisions, and the absence of the prior year's 629.6 million SAR accounting gain from eliminating 77% of bank obligations.
Other Items
The external auditors issued an unmodified opinion with no additional comments, disclaimers, or adverse remarks noted. The company reported a loss of SAR 190 thousand from changes in investment property fair value, representing -0.04% of capital. Loss per share was SAR -1.75 calculated on 44,512,412 average shares outstanding, with earnings per share computed according to International Accounting Standard 33 after adjusting for 37,588 employee share option plan shares from the total 44,550,000 shares.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=93637&anCat=1&cs=2160&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.