Advanced Building Industries Co. — Earnings Release 2025

Mar 31, 2026

Advanced Building Industries Co. announces its Annual Financial results for the period ending on 2025-12-31

2240 · 31/03/2026 15:59:16 · Announcement #94047 · View on Saudi Exchange

Advanced Building Industries Co. announces its Annual Financial results for the period ending on 2025-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	6,200,549	6,090,496	1.81
Gross Profit (Loss)	1,114,233	1,034,401	7.72
Operational Profit (Loss)	260,701	174,449	49.44
Net Profit (Loss) Attributable to Shareholders of the Issuer	101,027	26,805	276.9
Total Comprehensive Income Attributable to Shareholders of the Issuer	97,340	-12,646	-
Total Shareholders Equity (after Deducting Minority Equity)	547,769	450,429	21.61
Profit (Loss) per Share	1.68	0.45
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-	-
All figures are in (Thousands) 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	Consolidated Sales during the period increased by 2% due to sales growth in AC, Steel and Insulation sectors. AC sector grew by 7%, Steel sector grew by 10% and Insulation sector grew by 86%. Whereas Construction sector declined by 32%.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	Net Profit growth was due to:

1. Higher "Sales" resulted in an increase in "Gross Profit" by 8%.

2. "Operating Income" is reported at SAR 261 million as compared to SAR 174 million in the previous year mainly due to higher operating margin in AC, Steel and Insulation sectors which was offset by the decline in margin in construction sector.

3. Higher "Profits from associated companies" by SAR 23 million.

4. Lower "Financial Charges" by SAR 7 million.

5. Lower "Tax and Zakat" for the year by SAR 13 million. 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) There is an “Emphasis of Matter” and “Other Matter” stated in the company’s Auditors’ Report for the financial results for the year ending on 31-12-2025 as follows:

Emphasis of Matter – Comparative Information:

We draw attention to Note (42) to the consolidated financial statements, which indicates that the comparative information presented as at 31 December 2024 has been restated. Our conclusion is not modified in respect of this matter.

Other Matter – Comparative Information:

Furthermore, the consolidated financial statements of the Group for the year ended 31 December 2024, excluding the adjustments described in Note 42 to the consolidated financial statements were audited by another auditor who expressed an unmodified opinion on those consolidated financial statements on 10 Shawwal 1446H (corresponding to 8 April 2025G). Reclassification of Comparison Items Comparative figures have been reclassified to conform with the presentation in the current year. Additional Information It is worth noting that on 19 December 2024, Gulf Insulation Group ("GIG"), a subsidiary of the Parent Company with 51% shareholding, signed a share purchase agreement (SPA) with the foreign shareholder of Arabian Fiberglass Insulation Company Limited ("AFICO") to acquire the remaining 49% shareholding in AFICO for a consideration amounting SR 123.8 million, subject to securing the approval of the General Authority for Competition in the Kingdom of Saudi Arabia (GAC) as well as satisfying other conditions as per the SPA. During March 2025, GIG and the foreign shareholder secured a waiver letter from GAC to proceed with the deal and satisfied the other conditions stated in the SPA and therefore GIG recognized the acquisition of foreign shareholder’s share in AFICO in March 2025 which caused non-controlling interests and retained earnings at 31 March 2025 to decrease by SR 97.6 million and SR 26.2 million, respectively. This transaction was also disclosed as a subsequent event in the financial statements for the year ended 31 December 2024.

During the preparation of the interim financial statements for the six-month period ended 30 June 2025, the company re-examined the SPA and concluded that there was an unconditional obligation to deliver cash to the foreign shareholder of AFICO subject to satisfying conditions that are not within the control of GIG for the year ended 31 December 2024. Consequently, a financial liability should have been recorded at the date of the SPA, i.e. 19 December 2024 for the fixed consideration to be paid and non-controlling interest should have been derecognized, rather than waiting for the conditions of the SPA to be satisfied, i.e. 18 March 2025.

Accordingly, the company restated the comparative figures as at 31 December 2024. The restatement impacted on the following accounts:

- Accruals and Other Payables at 31 December 2024 increased by SR 123.8 million rather than the similar increase which was recognized in March 2025.

- Non-controlling interests at 31 December 2024 decreased by SR 95.7 million rather than the decrease of SR 97.6 million which was recognized in March 2025.

- Retained earnings at 31 December 2024 decreased by SR 28.1 million rather than the decrease of SR 26.2 million which was recognized in March 2025.

The restatement did not have an impact on the profit or cash flows for the year ended 31 December 2024.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.