National Metal Manufacturing and Casting Co. announces its Interim Financial results for the Period Ending on 2025-06-30 (Six Months) | premargin

National Metal Manufacturing and Casting Co. announces its Interim Financial results for the Period Ending on 2025-06-30 (Six Months)

TadawulAugust 7, 2025View on exchange

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	63.87	57.04	11.974	70.14	-8.939
Gross Profit (Loss)	5.96	1.02	484.313	5.81	2.581
Operational Profit (Loss)	-4.1	-7.88	-47.969	-1.8	127.777
Net profit (Loss)	-5.4	-11.78	-54.159	-3.19	69.278
Total Comprehensive Income	-5.4	-11.78	-54.159	-3.19	69.278
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	134.01	119.36	12.273
Gross Profit (Loss)	11.77	4.13	184.987
Operational Profit (Loss)	-5.9	-11.52	-48.784
Net profit (Loss)	-8.6	-19.17	-55.138
Total Comprehensive Income	-8.6	-19.17	-55.138
Total Shareholders Equity (after Deducting Minority Equity)	236.88	265.11	-10.648
Profit (Loss) per Share	-0.24	-0.54
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	2.21	0.62
Accumulated Losses	117.12	33.08
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	Reasons for the increase in sales during current quarter compare to the same quarter last year are increase in sales of drawn wire and related products by about 20% due to improvement in the market demand for the products of this sector in the local as well as export markets. Sales of axles, spare parts and casting products decreased by about 2% due to decrease in the market demand and competition in the local market from imported products.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Reasons for the decrease in losses during current quarter compare to the same quarter last year are increase in sales and reversal provision for expected credit losses and decrease in Zakat provision and profit from discontinued operations.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	Reason for the decrease in sales during current quarter compare to the last quarter by about 9% is mainly due to the decrease in sales of drawn wire and related products that attributable to decrease in working days during quarter 2 as there were EID holidays.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	Reasons for the increase in losses during current quarter compare to last quarter are decrease in sales, increase in selling and distribution expenses, increase in general and admirative expenses ,decrease in the reversed provision for expected credit losses, decrease in other income , increase finance cost and decrease in finance income.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is	Reasons for the increase in sales during current period increased compare to the sales during previous period last year are improvement in sales of drawn wire and related products by about 24% due to improvement in the market demand . Sales of axles, sprare parts and casting products decreased by about 8% due to low demand in local and export markets.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Reasons for the decrease in losses during current period compare to the same period last year are increase sales , reversal of provision for expected credit losses , increase in other income , decrease in Zakat provision and decrease in losses from discontinued operations.
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	Certain comparative figures have been reclassified to comply with the current period presentation of the interim condensed consolidated financial statements.
Additional Information	The accumulated losses reached SAR 117.12 Million, equivalent to 33.08% of the company’s paid up capital of SAR 354 Million after the approval of EGA on 10 Jun 2024 to transfer SAR 27.17 Million from statutory reserve to write-off part from the accumulated losses of SAR 96.89 Million as stated in the financial statement at 31 Dec 2023. The the main reasons for the accumulated losses are the following: 1- Decrease in sales of the main products due to low demand in the local and export markets. 2- Competition in the local market from similar products imported from China. 3- Local manufacturers of P.C. Strand product (one of the main products of the company) entered in some exporting countries, negatively impacted the quantities exported to those countries. 4- High fluctuation in the price of high-carbon steel (the raw material for the main products of the company) and it is not produced locally. 5- Decrease in average selling price for some products, negatively impacted the profit margins. The company came to know that the accumulated losses reached 20% or more from its paid up capital on 30/06/2023 and announced immediately , the company will apply the procedures and instructions applicable on companies listed in Saudi capital market whose accumulated losses reached 20% or more out of the capital. During 2024 board of director decided to discontinue production line of HWS due to lack of economic feasibility ( for more details on discontinued operations during quarter 2,2025 , refer to the note 16 in the interim condensed consolidated financial statements).