Ma’aden’s profits jump 88% during Q2 to SAR 1.9 billion

The net profit of the Saudi Arabian Mining Company (Ma’aden) increased to SAR 1.9 billion during the second quarter of 2025, compared to SAR 1 billion in the same quarter last year, an increase of 88%. This came after the announcement today of the financial results for the period ending June 30, 2025.

Operating profit reached SAR 2.5 billion in the second quarter of 2025, compared to SAR 1.7 billion in the same quarter of the previous year, a growth of 44%.

During the current six-month period, it recorded profits of SAR 3.4 billion, compared to SAR 2 billion, a growth of 73% over the same period last year.

Earnings per share reached SAR 0.91 in the second quarter, compared to SAR 0.54 in the same quarter of the previous year. Ma’aden confirmed in its statement on Tadawul that its net profit for the current quarter increased by SAR 898 million (88%) compared to the same quarter of the previous year. This increase was due to a SAR 1,336 million (61%) increase in gross profit, primarily due to the impact of higher sales prices and volume. Additionally, the increase in the share of net profit from joint ventures and associates, a lower financing cost, and a decrease in net zakat, income tax, and franchise fees all contributed positively to net profit. This increase in net profit was partially offset by higher operating expenses, including the expected credit loss provision, and the positive impact of a one-time insurance claim of SAR 270 million during the same quarter of the previous year.