Filing and Packing Materials Manufacturing Co. (FIPCO) announces its annual consolidated financial results for the fiscal year ending 31 Dec. 2025
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 66.1 | 61.2 | 8.006 | 53.8 | 22.862 |
| Gross Profit (Loss) | 8.5 | 12.1 | -29.752 | 8.9 | -4.494 |
| Operational Profit (Loss) | -10.2 | 2.3 | – | -2.1 | 385.714 |
| Net profit (Loss) | -11.5 | 1.1 | – | -3.6 | 219.444 |
| Total Comprehensive Income | -11.5 | 1.1 | – | -3.6 | 219.444 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
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| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 119.8 | 118.2 | 1.353 |
| Gross Profit (Loss) | 17.3 | 24.6 | -29.674 |
| Operational Profit (Loss) | -12.4 | 5.9 | – |
| Net profit (Loss) | -15.1 | 3.1 | – |
| Total Comprehensive Income | -15.1 | 3.1 | – |
| Total Shareholders Equity (after Deducting Minority Equity) | 130.3 | 146.8 | -11.239 |
| Profit (Loss) per Share | -1.32 | 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 | – | – | |
| 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 | The reason for higher turnover is an increase of sales volume in the parent company, however the sales is declined in the subsidiary “FPC” as a result for the product mix variance. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the net loss of the second quarter of 2025 compared to the net profit achieved in the corresponding quarter of the previous year 2024 is due mainly to the following:
1- Decrease in gross profit due from decreased sales volume resulted from the product mix variance, despite the gross profit was improved in the parent company.
2- Increase in G&A expenses because of settling the financial and legal due diligence expenses paid to the financial advisor 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.
3- Expected credit losses provision has been increased in accordance with IFRS 9 as a result for delayed collections from some major customers.
4- Increase in banking charges because of higher interest rates. These results were achieved despite higher other income. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for higher turnover is an increase of sales volume in the parent company and the subsidiary “FPC”. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for higher net losses of the second quarter of 2025 compared to the net losses achieved in the previous quarter of 2025 is due mainly to the following:
1- Sales and marketing expenses increased due to the increased recruitment costs of the subsidiary, which sought to attract qualified administrative personnel to enhance the efficiency of its sales and marketing team, with the aim of maximizing its market share and expanding its local and global presence. 2- Increase in G&A expenses because of settling the financial and legal due diligence expenses paid to the financial advisor 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. 3- Expected credit losses provision has been increased in accordance with IFRS 9 as a result for delayed collections from some major customers. 4- Increase in banking charges because of higher interest rates.
These results were achieved despite higher other income and lower zakat provision. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The reason for higher turnover is an increase of sales volume in the parent company, however the sales is declined in the subsidiary “FPC” as a result for the product mix variance. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason for the net loss of the second quarter of 2025 compared to the net profit achieved in the corresponding period of the previous year 2024 is due mainly to the following:
1- Decrease in gross profit due from declined turnover and the product mix variance and profitability margins in the subsidiary “FPC”. 2- Sales and marketing expenses increased due to the increased recruitment costs of the subsidiary, which sought to attract qualified administrative personnel to enhance the efficiency of its sales and marketing team, with the aim of maximizing its market share and expanding its local and global presence. 3- Increase in G&A expenses because of settling the financial and legal due diligence expenses paid to the financial advisor 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. 4- Expected credit losses provision has been increased in accordance with IFRS 9 as a result for delayed collections from some major customers. 5- Increase in banking charges because of higher interest rates.
These results were achieved despite higher other income and lower zakat provision. |
| 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) | NA |
| Reclassification of Comparison Items | Certain Comparative figures have been reclassified to be consistent with the presentation of the current period presentation. |
| Additional Information | Some changes have been introduced in the presentation method for some items, as the governmental support has been reclassified in the cost of goods sold in accordance with the IFRS, while the other income has been considered in the non-operating profits, which affected the previously announced numbers regarding revenues, gross profit and operating income during the 2nd quarter and the period of 6 months of 2024. |