CARE-

Our friends at National Medical Care saw net income rise 5% y-o-y to SAR 85.4 mn in 1Q 2025, supported by operational efficiencies and reversals in expected credit losses, according to an earnings release (pdf).

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Revenue grew 29.1% y-o-y to SAR 385.3 mn during the quarter, driven by a 37% rise in patients volume and the full integration of recently acquired Al Salam Hospital, in addition to the contributions from partners GOSI, the Health Ministry, and Prince Sultan Military Medical city. The growth managed to offset the expected negative impact of the Ramadan season on patients volume.

Care by numbers: Patient count increased 37% y-o-y to 227.2k in 1Q, pushed up by a rising number of inpatients and outpatients as well as the full integration of new branches. Meanwhile, capacity has risen 24% to some 1.2k beds — Al Salam Hospital added 100 beds — while occupancy rate rose by 15.9 percentage points y-o-y to 80.9% during the quarter.

SEERA GROUP HOLDING-

Homegrown travel giant Seera Group Holding saw its net income fall 13.1% y-o-y to SAR 53 mn in 1Q 2025, which included a temporary gain from Almosafer’s Hajj & Umrah business and losses from Portman acquisition, it said in an earnings release (pdf). Adjusted earnings fell 8% y-o-y, mainly due to Portman’s weaker performance, though the company expects improvements as operational synergies take effect.

MEANWHILE- Revenue inched up 2.4% y-o-y to SAR 1.1 bn, driven by growth across hospitality (up 11% y-o-y), Portman (up 8% y-o-y), and Lumi (up 7% y-o-y), with Almosafer posting a modest 1% y-o-y uptick.

ABDULLAH AL OTHAIM MARKETS-

Abdullah Al Othaim Markets posted a 33.9% y-o-y drop in net income to SAR 76.4 mn in 1Q 2025, as profit margins came under pressure from intensive Ramadan marketing, a SAR 9.5 mn rise in lease financing costs, and a SAR 3.8 mn increase in borrowing expenses, it said in a disclosure to Tadawul. However, revenue was up 3.1% y-o-y to SAR 3.13 bn, supported by higher sales from both existing and new stores.

ALSO- The company’s BoD nodded to a SAR 99 mn dividend distribution for 1Q 2025 at SAR 0.11 per share, with payouts scheduled for 25 June, it said in a separate disclosure to Tadawul.

SAUDI CHEMICAL-

Saudi Chemical Co. saw its net income decrease by 9.9% y-o-y to SAR 82.3 mn in 1Q 2025, weighed down by an increase in finance costs, revaluation for derivative financial instruments, and higher zakat and tax provisions, according to a disclosure to Tadawul. Meanwhile, revenue slid slightly by 0.1% y-o-y to SAR 1.64 bn, due to a decrease in sales volumes.

AL-RAJHI TAKAFUL-

Al-Rajhi Company for Cooperative Ins. (Al Rajhi Takaful) reported a 18.5% y-o-y fall in net income to SAR 90.8 mn in 1Q 2025, attributed to lower ins. service results and a decline in total investment income, according to a disclosure to Tadawul. Meanwhile, ins. revenues decreased 7.4% y-o-y to SAR 1.21 bn due to lower business volume.

ALMUNAJEM FOODS CO.

Almunajem Foods Co. reported a 64.9% y-o-y decrease in net income to SAR 40 mn in 1Q 2025, burdened by a 31.9% decrease in gross profit, it said in a disclosure to Tadawul. Revenue declined by 0.2% y-o-y to SAR 901.5 mn on account of lower selling prices for red and white meat, despite increased sales volumes across most categories.

DALLAH HEALTHCARE-

Dallah Healthcare Co. recorded a 30.4% y-o-y rise in net income to SAR 155.6 mn in 1Q 2025, pushed up by a non-recurring gain of SAR 51 mn from an in-kind contribution of lands to a real estate fund, according to a disclosure to Tadawul. Likewise, revenue rose by 6.2% y-o-y to SAR 832.8 mn on the back of increased operational capacity and patient numbers.

WALAA COOPERATIVE INS-

Walaa Cooperative Ins. Co. turned red with a net loss of SAR 67.9 mn y-o-y in 1Q 2025, due to higher net ins. service losses by the medical and motor segments, according to disclosure to Tadawul. However, the property, energy, and P&C other segments pushed ins. revenues up by 2.8% y-o-y to SAR 788.2 mn.

JABAL OMAR DEVELOPMENT CO.-

Jabal Omar Development Co. posted a 4,973% jump in net income higher y-o-y amounting to SAR 945.9 mn in 1Q 2025, mainly due to the recognition of other income generated by a SAR 918 mn land sale, according to a disclosure to Tadawul. Meanwhile, revenue grew by 26.1% y-o-y to SAR 747.7 mn, fed by a 54% rise in hotel revenues related to the Ramadan season and the launch of new hotel towers.

SAUDI GROUND SERVICES-

Saudi Ground Services Co. (SGS) reported a 37.2% y-o-y increase in net income to SAR 97.6 mn in 1Q 2025, supported by lower revenue costs and higher gross and operating profits, according to a disclosure to Tadawul. Revenue inched up at a small pace by 2.8% y-o-y to SAR 671.5 mn, impacted by a rise in both domestic and international flight operations during Ramadan season.

UMM AL QURA FOR DEVELOPMENT-

Umm Al Qura for Development and Construction Co. saw a significant jump in net income y-o-y to SAR 159.7 mn in 1Q 2025, according to an earnings release (pdf). The increase was attributed to land sales pushing up revenue by 172.2% y-o-y to SAR 501.9 mn.

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