Retal Urban Development Co. announces its Interim Financial results for the Period Ending on June 30th, 2025 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 488.44 | 463.67 | 5.342 | 567.07 | -13.866 |
| Gross Profit (Loss) | 106.26 | 128.95 | -17.595 | 130.09 | -18.318 |
| Operational Profit (Loss) | 59.65 | 101.71 | -41.352 | 97.8 | -39.008 |
| Net profit (Loss) | 72.12 | 76.51 | -5.737 | 73.81 | -2.289 |
| Total Comprehensive Income | 72.12 | 76.51 | -5.737 | 73.81 | -2.289 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,055.51 | 964.3 | 9.458 |
| Gross Profit (Loss) | 236.37 | 255.8 | -7.595 |
| Operational Profit (Loss) | 157.45 | 189.53 | -16.926 |
| Net profit (Loss) | 145.93 | 142.07 | 2.716 |
| Total Comprehensive Income | 145.93 | 142.07 | 2.716 |
| Total Shareholders Equity (after Deducting Minority Equity) | 910.37 | 796.97 | 14.228 |
| Profit (Loss) per Share | 0.27 | 0.27 | |
| 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 | - | - | |
| 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 | Revenues reached SAR 488.44 million in the current quarter, compared to SAR 463.67 million during the same quarter of the previous year, representing a growth of 5.34%. This was mainly due to the increase in revenues from development contracts which grew by 5.50% YOY, driven by the increase in percentage of completion rates for ongoing projects compared to the same quarter of the previous year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit totaled SAR 72.12 million in the current quarter, down from SAR 76.51 million in the corresponding quarter of the previous year which represents a decline of 5.74%. This is primarily attributable to:
• Lower gross profit from development contracts by 18.84% YOY, driven by a slower sales pace on ongoing projects compared with the same quarter last year.
• Increase in SG&A expenses by 71.11% YOY driven by the increase in employees hiring rates and related benefits along with marketing costs compared to the same quarter of the previous year associated with the Company’s broader growth strategy.
It's worth noting that during the second quarter of this year, the company sold a portion of its units it owns in a real estate fund, generating a profit of SAR 32.68 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenues reached SAR 488.44 million during the current quarter, compared to SAR 567.07 million during the previous quarter, representing a decrease of 13.87%. This decrease was mainly due to the decline in the pace of sales on ongoing projects compared to the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit decreased by 2.30% to SAR 72.12 million during the current quarter, compared to a net profit of SAR 73.81 million during the previous quarter. This was mainly due to a decrease in operating profit resulting from a decrease in gross profit and an increase in SG&A expenses.
It is worth highlighting that during the second quarter of this year, the company sold a portion of its units it owns in a real estate fund, generating a profit of SAR 32.68 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenues reached SAR 1,055.51 million during the current quarter, compared to SAR 964.30 million during the same quarter of the previous year, representing a growth of 9.46%. This was mainly due to the increase in revenues from development contracts which grew by 13.24% YOY, driven by the increase in percentage of completion rates for ongoing projects compared to the same period of the previous year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit increased by 2.71% to SAR 145.93 million in the current period, compared with SAR 142.07 million in the same period last year. This came despite a %16.93 decline in operating profit, driven by a 31.47% YOY
increase in general and administrative expenses primarily due to increased employees hiring rates and related benefits associated with the Company’s broader growth strategy.
It is worth highlighting that during the current period of this year, the company sold a portion of its units it owns in a real estate fund, generating a profit of SAR 32.68 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) | None. |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to be consistent with the presentation of the current period. |
| Additional Information | During the period ended June 30, 2025, Retal received the final assessments from ZATCA for the years 2020 to 2022, based on which a reversal of SR 7.9 million was recorded
For any inquiries, please contact Investor Relations department at: +966138013803 or by e-mail: |
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