Saudi Pharmaceutical Industries and Medical Appliances Corp. announces its Interim Financial results for the Period Ending on 2025-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 400.8 | 373.5 | 7.309 | 484.8 | -17.326 |
| Gross Profit (Loss) | 194.1 | 176.1 | 10.221 | 228.9 | -15.203 |
| Operational Profit (Loss) | 61.4 | 31.2 | 96.794 | 84.5 | -27.337 |
| Net profit (Loss) | 36 | 18.1 | 98.895 | 75.1 | -52.063 |
| Total Comprehensive Income | 46.4 | 14 | 231.428 | 84 | -44.761 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 885.6 | 849.5 | 4.249 |
| Gross Profit (Loss) | 423 | 427.3 | -1.006 |
| Operational Profit (Loss) | 145.9 | 87.2 | 67.316 |
| Net profit (Loss) | 111.1 | 57.6 | 92.881 |
| Total Comprehensive Income | 130.4 | 58.2 | 124.054 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,503.7 | 1,417.1 | 6.111 |
| Profit (Loss) per Share | 0.87 | 0.44 | |
| 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 | -16.8 | -1.4 | |
| 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 7.3%, equivalent to SAR 27.3 million reaching to SAR 400.8 million, mainly driven by growth in government sales, growth in the private sector, and an increase in contract manufacturing. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The net profit amounted to SAR 36 million in the current quarter compared to a net profit of SAR 18.1 million in the same quarter of last year the increase is mainly due to:
•Increase in revenue of 7.3% due to higher government sales, growth in the private sector and an increase in contract manufacturing. •Increase in operating profit by 96.8% amounting to SAR 30.2 million mainly due to the reversal of impairment loss on financial assets amounted to SAR 5.4 million in the current quarter, compared to impairment charge amounting to SAR 13.6 million in the same quarter of the last year, mainly due to improved collection. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenue decreased by 17.3% by the amount of SAR 84.1 million in the current quarter, mainly due to the decline in private sales. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The net profit amounted to SAR 36 million in during the current quarter compared to the net profit of SAR 75.1 million in the previous quarter the decrease is mainly due to:
•The decrease in revenue by 17.3% by the amount of SAR 84.1 million in the current quarter, mainly due to the decline in private sales. •The decrease in gross profit by 15.2% by the amount of SAR 34.8 million, mainly due to shift in sales mix across sectors, which reduced net revenue. •The increase in research and development expenses (R&D) by 17.1% and the amount of SAR 2.2 million due to an increase in new product registration. •The decrease in operating profit which amounted during the current quarter to SAR 61.4 million compared to SAR 84.5 million reported in the previous quarter mainly due to gain on sale of fixed assets in the previous quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenue increased by 4.3% and the amount of SAR 36.1 million reaching to SAR 885.6 million during the period, mainly due to higher government sales, growth in the private sector, and an increase in contract manufacturing. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The net profit amounted to SAR 111.1 million in the current period compared to a net profit of SAR 57.6 million in to the same period of the last year mainly due to the following factors:
•Increase in revenue by 4.3%, or the equivalent of SAR 36.1 million to SAR 885.6 million during the period, mainly due to higher government sales, growth in the private sector, and an increase in contract manufacturing. •Decrease in Selling and marketing, General and Administrative expenses by 4.7%, the equivalent of SAR 13 million, to SAR 264.9 million compared to SAR 277.9 million. •Increase in operating profit to SAR 145.9 million in the current period compared to SAR 87.2 million reported in the same period of the last year due to gain on sale of fixed assets and decrease in impairment loss on financial assets due to improved collection. |
| 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 paragraph:
We draw attention to note 23 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 and six-month periods ended 30 June 2024, have been restated. Our conclusion is not modified in respect of this matter. |
| 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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