Saudi Pharmaceutical Industries and Medical Appliances Corp. announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 484.8 | 475.9 | 1.87 | 386.2 | 25.53 |
| Gross Profit (Loss) | 228.9 | 251.1 | -8.841 | 190.7 | 20.031 |
| Operational Profit (Loss) | 84.5 | 56 | 50.892 | 11.6 | 628.448 |
| Net profit (Loss) | 75.1 | 39.5 | 90.126 | -35.9 | - |
| Total Comprehensive Income | 84 | 44.2 | 90.045 | -46.2 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 1,459.4 | 1,415.3 | 3.115 |
| Profit (Loss) per Share | 0.59 | 0.3 | |
| 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 | - | - | |
| Accumulated Losses | -49.4 | -4.12 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue increased by 2%, equivalent to SAR 8.9 million, reaching SAR 484.8 million, mainly driven by modest growth in domestic sales, particularly from the Government sector. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Consolidated net profit amounted to SAR 75.1 million in Q1 FY2025 compared to a net profit of SAR 39.5 million in Q1 FY2024 mainly due to the following factors:
•Revenue: A slight 2% increase was driven by growth in domestic sales, mainly from the government sector. •Selling, General and Administrative expenses (SG&A) decreased 8.6%, the equivalent of SAR 13 million, to SAR 138.2 million compared to SAR 151.2 million in Q1 FY2024. •Research and development expenses (R&D), decreased 25.9%, the equivalent of SAR 4.5 million to SAR 12.9 million. •Operating profit: increased by 50.9%, or the equivalent of SAR 28.5 million, to a profit of SAR 84.5 million compared to SAR 56.0 million reported in Q1 2024 as a result of the cost management strategies and enhanced operational efficiency. •Other income amounted to SAR 21.8 million in Q1 2025, compared to other expense amounting to SAR 17.5 million in Q1 FY2024, mainly due to gain on sale of fixed assets in Q1 2025 amounting to SAR 18.1 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue increased by 26%, or the equivalent of SAR 98.6 million, to SAR 484.8 million predominantly on strong growth in revenue from private sector. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Consolidated net profit amounted to SAR 75.1 million in Q1 FY2025 compared to a net loss of SAR 35.9 million in Q4 FY2024 mainly due to the following factors:
•Revenue increased by 26%, or the equivalent of SAR 98.6 million, to SAR 484.8 million predominantly on strong growth in revenue from sales of products in private sector. •Selling, General and Administrative expenses (SG&A): Decreased 16.9%, the equivalent of SAR 28 million, to SAR 138.2 million compared to SAR 166.2 million in Q4 FY2024. •Research and development expenses (R&D): Decreased 60.9%, the equivalent of SAR 20 million to SAR 12.9 million, due to a reduction in employee-related costs. •Operating profit: Increased to a profit of SAR 84.5 million compared to a profit of SAR 11.6 million reported in Q4 last year as a result of the cost management strategies and enhanced operational efficiency. •Net Finance Cost: Decreased by 43%, equivalent to SAR 16.4 million. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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) | Emphasis of Matter:
We draw attention to note 21 to the condensed consolidated interim financial statements of the Company and its subsidiaries which indicates that the comparative information presented as at and for the three month period ended 31 March 2024 has been restated. Our conclusion is not modified in respect of this matter.
Other Matter: The condensed consolidated interim financial statements of the Group as at and for the three month period ended 31 March 2024, except for the adjustments described in note 21, were reviewed by another auditor who expressed an unmodified conclusion on those condensed consolidated interim financial statements on 19 May 2024 (corresponding to 11 Dhul Qidah 1445H). |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to confirm the current period’s presentation. |
| Additional Information | None |
| Attached Documents |  |
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