On 2026-05-06 15:37:27 (Saudi Time), Saudi Printing and Packaging Co. announced its Interim financial results for the three months ended on March 31, 2026.

Year-on-Year Performance Drivers

Sales declined 38.786% YoY to SAR 91.82 million from SAR 150 million, primarily due to market changes that reduced business volume across both printing and packaging segments. Net profit improved significantly from a loss of SAR 24.4 million to a profit of SAR 7.21 million, mainly driven by the recognition of SAR 31.35 million income from debt-to-equity conversion and lower finance costs.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 10.86% from 103.01 million to 91.82 million SAR due to lower revenue from printing and packaging segments impacted by market changes that reduced business volume. Net profit improved dramatically from a loss of 171.26 million to a profit of 7.21 million SAR, primarily driven by recognition of 31.35 million SAR income from debt-to-equity conversion, lower finance costs, and the absence of goodwill impairment losses recorded in the previous quarter.

Other Items

Auditors issued an unmodified conclusion but highlighted material uncertainty related to going concern. Current liabilities exceeded current assets by SAR 332.8 million as at March 31, 2026. Accumulated losses reached SAR 583.1 million, representing 89.42% of share capital, indicating material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. Total shareholders' equity decreased 75.91% year-over-year to SAR 61.93 million but increased 404.3% quarter-over-quarter from SAR 12.28 million.

Original announcement:

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