Saudi Research and Media Group (SASE) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was SAR 665.7 million, down 18% year-over-year from SAR 814.9 million.

• Net income attributable to equity holders was SAR 30.9 million, a 64% decrease from SAR 86.9 million in Q1 2024.

• Gross profit declined to SAR 161.0 million from SAR 226.0 million year-over-year.

• Total assets stood at SAR 5.40 billion as of March 31, 2025, compared to SAR 5.49 billion at year-end 2024.

• The Group remains a diversified media conglomerate with operations across publishing, advertising, and printing.

Financial highlights

• Operating income for Q1 2025 was SAR 47.9 million, down from SAR 125.0 million in Q1 2024.

• Basic and diluted EPS was SAR 0.39, compared to SAR 1.09 in the prior year period.

• Cash and cash equivalents increased to SAR 642.8 million from SAR 538.6 million at year-end 2024.

• Net cash from operating activities was SAR 162.0 million, a sharp drop from SAR 1.04 billion in Q1 2024.

• Finance costs decreased to SAR 22.4 million from SAR 40.2 million year-over-year.

Outlook and guidance

• Management asserts the Group is a going concern with adequate resources for at least 12 months.

• No material uncertainties identified that would cast doubt on the Group's ability to continue operations.