Red Sea International Co (4230)

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News

22 May 08:03 PM Red Sea International sees 62% lower net losses in Q1-25; accumulated losses unveiled

Riyadh - Mubasher: Red Sea International Company logged a 62.23% decrease in net losses to SAR 4.52 million in the first quarter (Q1) of 2025, compared with SAR 11.98 million in Q1-24. Meanwhile, the revenues grew by 6.28% year-on-year (YoY) to …

Financial Results

18 December 2024 00:18 PM Red Sea International obtains SAR 392m loan from Riyadh Bank

Riyadh – Mubasher: Red Sea International Company has signed an Islamic financing agreement with Riyadh Bank at an amount of SAR 392.20 million. The company will use the financing to issue bank guarantees for the project signed with Webuild to …

Companies Investments

18 September 2024 10:51 AM Red Sea International pens SAR 1.5bn agreement with Modern

Riyadh – Mubasher: The Fundamental Installation for Electric Work Company Limited (First Fix) inked a SAR 1.52 billion deal with Modern Building Leaders Company, according to a bourse filing. First Fix, a subsidiary of Red Sea International …

Companies Investments

20 August 2024 11:01 AM Red Sea International’s First Fix rolls out SAR 167m deal

Riyadh – Mubasher: The Fundamental Installation for Electric Work Company Limited (First Fix), a subsidiary of Red Sea International Company, signed a SAR 167 million agreement with Modern Building Leaders Company. First Fix will handle the …

Companies Investments

19 August 2024 10:28 AM Red Sea International signs SAR 658m deal for NEOM project

Riyadh – Mubasher: Red Sea International Company inked a contract with Webuild S.p.A. to build a staff camp serving the Trojena Dam project at NEOM, according to a bourse disclosure. The two entities penned the agreement at a value of SAR 658 …

Companies Investments

7 April 2024 02:04 PM Red Sea International submits capital raise request to CMA

Riyadh – Mubasher: Red Sea International Company submitted an application file to the Capital Market Authority (CMA) to increase its capital on 4 April 2024, according to a bourse disclosure. The capital raise will be implemented by debt …

Corporate Actions

4 March 2024 11:31 AM Red Sea International secures SAR 196m facility from SAB

Riyadh – Mubasher: The Fundamental Installation for Electric Work Company (First Fix), a subsidiary of Red Sea International Company increased its loan from Saudi Awwal Bank (SAB) to SAR 196.10 million, according to a bourse filing. The unit …

Banking and Finance

4 October 2023 04:59 PM Red Sea International acquires majority stake in First Fix

Riyadh – Mubasher: Red Sea International Company recently completed the acquisition of 51% shareholding in Fundamental Installation for Electric Work Company (First Fix) for a total of SAR 544.17 million. The acquisition, which was first announced …

Companies Investments

18 December 2022 04:08 PM Red Sea International unveils SAR 192m deal with Saudi RCU

Riyadh – Mubasher: Red Sea International Company inked a SAR 192.01 million contract with the Royal Commission for Al Ula (RCU) on 14 December 2022 to develop a turnkey housing complex in Al Ula. Under the 12-month agreement, the Tadawul-listed …

Real estate

21 September 2022 09:58 AM Red Sea International’s accumulated losses drop to 20% of capital

Riyadh – Mubasher: Red Sea International Company’s accumulated losses have decreased to 20% of the company’s capital, according to a stock exchange statement on Wednesday. The company has offset the total accumulated losses as of 31 March 2022 …

Management Decisions

23 August 2022 00:54 PM Red Sea International secures SAR 35m loan from SABB

Riyadh – Mubasher: Red Sea International Company has signed a facility agreement worth SAR 35 million with Saudi British Bank (SABB). The company obtained the loan on 18 August 2022 to finance its projects, according to a bourse filing. Meanwhile, …

Banking and Finance

15 August 2022 10:13 AM Red Sea International’s accumulated losses down to 0% of capital

Riyadh – Mubasher: Red Sea International Company said its accumulated losses have dropped to 0% of the company’s capital, according to a stock exchange statement on Monday. The company's accumulated losses stood at SAR 297.65 million as of 31 …

Real estate

28 July 2022 07:05 PM Red Sea International’s shareholders approve nearly 50% capital cut

Riyadh – Mubasher: The shareholders of Red Sea International Company have agreed to reduce the capital by SAR 297.65 million (49.61%). The listed firm will decrease its capital by cancelling 29.76 million ordinary shares, equivalent to 1 share for …

Management Decisions

19 June 2022 08:19 PM CMA approves Red Sea International, Al Jouf Cement’s capital cut

Riyadh – Mubasher: The Capital Market Authority (CMA) has approved the capital reduction requests of Red Sea International Company and Al Jouf Cement Company to offset accumulated losses. Red Sea International will reduce its capital from SAR 600 …

Corporate Actions

22 May 2022 06:28 PM Red Sea International’s losses shrink 42% in Q1-22 initial results

Riyadh – Mubasher: Red Sea International Company has incurred net losses after Zakat and tax worth SAR 19.10 million in the first quarter (Q1) of 2022, lower by 42.12% than SAR 33 million in Q1-21. The company’s revenues increased by 8.11% to SAR …

Financial Results

27 April 2022 01:59 PM Red Sea International wins $14m contract to build complexes in UAE

Riyadh – Mubasher: Red Sea International Company has signed a contract worth $14.24 million (SAR 53.42 million) with Samsung C&T to support the Abu Dhabi National Oil Company's (ADNOC) initiative to decarbonise onshore and offshore production …

Companies Investments

17 April 2022 06:41 PM Red Sea International’s board proposes capital cut, raise

Riyadh - Mubasher: The board of Red Sea International Company has recommended a capital reduction by cancelling 29.06 million shares, equivalent to reducing one share for every 2.06 shares, to offset the accumulated losses. The Saudi listed …

Management Decisions

30 March 2022 00:32 PM Red Sea International incurs SAR 130m losses in 2021

Riyadh–Mubasher: Red Sea International Company has suffered net losses after Zakat and tax worth SAR 130.4 million in 2021, a % 17.62 year-on-year (YoY) plunge from SAR 158.3 million. Revenues stood at SAR 468.2 million in 2021, down 12.23% from …

Financial Results

1 December 2021 06:32 PM Red Sea International signs SAR 246m contract with Baker Hughes

Riyadh – Mubasher: Red Sea International Company has penned a contract worth SAR 245.77 million with Baker Hughes Company to design, manufacture, supply, and manage remote mobile modular buildings. The agreement holds a duration of seven years …

Companies Investments

2 November 2021 05:18 PM Red Sea International posts 30% lower losses in Q3

Riyadh – Mubasher: Red Sea International Company reported a year-on-year (YoY) decrease of 30% in net losses after Zakat and tax at SAR 31.2 million during the third quarter (Q3) of 2021 from SAR 44.8 million. Revenues grew by 4.6% YoY to SAR …

Financial Results

9 August 2021 04:21 PM Red Sea International's losses deepen in H1-21

Riyadh – Mubasher: The interim financials of Red Sea International Company reported a SAR 62.1 million net losses after zakat and tax in the first half (H1) of 2021, up 18.51% from SAR 52.4 million in the year-ago period. The rise in losses is …

Financial Results

16 June 2021 04:47 PM Red Sea International signs SAR 53m deal with AlUla

Riyadh – Mubasher: Red Sea International Company has penned a three-month contract worth SAR 52.93 million with the Royal Commission of AlUla, according to a bourse disclosure on Wednesday. The listed company will design, construct, supply, and …

Real estate

18 May 2021 04:46 PM Red Sea International appoints Chairman, Vice Chairman

Riyadh – Mubasher: Red Sea International Company announced the appointment of Amr Abdullah Al Dabbagh as the Chairman of the board starting 10 May 2021, according to a bourse disclosure on Tuesday. The company has also appointed Sami Ahmed bin …

Management Decisions

11 November 2020 03:45 PM Red Sea International quarterly losses deepen 60%

Riyadh – Mubasher: Red Sea International Company’s third-quarter losses increased by 60.6% on an annual basis to stand at SAR 44.8 million due to lower revenues and gross profits. The Tadawul-listed firm generated SAR 114 million in revenue during …

Financial Results

13 October 2020 09:58 AM Red Sea International signs SAR 53m deal with NEOM

Riyadh – Mubasher: Red Sea International Company has penned a contract with NEOM to provide facility management, operations, and maintenance services for the residential and business complex it will build as per the contract announced on 6 October …

Real estate