| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 251.7 | 245.7 | 2.44 | ||
| Gross Profit (Loss) | 37.8 | 42.9 | -11.89 | ||
| Operational Profit (Loss) | -23.2 | 2.4 | - | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -19.1 | 0.9 | - | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -19.2 | 1.7 | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 126.2 | 145.4 | -13.2 | ||
| Profit (Loss) per Share | -1.66 | 0.08 | |||
| 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 | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The reason for higher turnover is an increase of sales in the parent company as a result for the product mix variance. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | FIPCO has achieved net loss of SR 19.1 million for the fiscal year 2025 compared to the net profit of SR 0.9 million in the previous year 2024, the reasons lie mainly behind the following: 1- The decline in gross profit of the subsidiary was primarily driven by lower sales volumes, product mix variance, and fluctuating profit margins, impacted by the continued dumping practices of Chinese and Korean products in the local market. These effects are expected to gradually diminish as the Company continues its coordination with the relevant government authorities to strengthen oversight on imports from those countries, noting that anti-dumping duties have been imposed for a period of five years following the Company’s successful case, resulting in the application of varying duties on such imports. 2-Increase in S&D expenses arising from higher labor costs, increased participation of the subsidiary in specialized trade exhibitions, and higher freight expenses. 3- Increase in G&A expenses because of settling the financial and legal due diligence paid to the specialized advisors that relates to the acquisition of Bina Industrial Investment Holding Co. full equity interests in the company as previously announced on Tadawul Website dated Jun. 04, 2025, in addition to the increased employees’ provisions and higher recruitment costs. 4- Expected credit losses provision has been increased in accordance with IFRS 9, because of delayed collections from some major customers. 5- Increase in banking charges because of higher loans. These results were achieved despite the following: 1- Decrease in Zakat provision. 2- Increase in other incomes. 3- Re-evaluating the contingent liability against non-controlling interest acquisition. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | NA |
| Reclassification of Comparison Items | Certain Comparative figures have been reclassified to be consistent with the presentation of the current period presentation. |
| Additional Information | - The gross profit in the parent company (Packaging Sector) reached SAR 39.3 million in 2025, compared to SAR 37.6 million in 2024, representing an increase of 4%. Meanwhile, the subsidiary (Technical Textiles Sector) recorded a gross loss of SAR 1.7 million in 2025, compared to a gross profit of SAR 5.1 million in 2024. - It is worth to mention that the non-recurring expenses – as estimated by management – which led to a significant increase in losses mainly include consultancy fees amounting to SAR 2 million for the appointment of specialized advisors to conduct financial and legal due diligence in connection with FIPCO’s proposed acquisition of 100% of the shareholders’ stakes in Bina Industrial Investments Holding Company, in addition to the recognition of an exceptional provision for expected credit losses amounting to SAR 13 million, resulting from certain non-recurring settlements with major customers. - The reason for the change in comprehensive income is due to the remeasurement of employees’ end-of-service benefits during the year 2025. |
