Arabian Plastic (9548.SR) Q1 2025 Earnings Report

Arabian Plastic Industrial Company Limited reported a strong QQ1 2025 despite seasonality, underscoring a meaningful YoY revenue upturn and meaningful margin expansion. Revenue reached SAR 49.76 million, up 34.17% year-over-year, with gross profit of SAR 12.55 million and a gross margin of 25.21%. EBITDA stood at SAR 10.11 million, yielding an EBITDA margin of 20.30%, while operating income was SAR 7.36 million (operating margin 14.79%). Net income amounted to SAR 5.30 million, delivering a net margin of 10.65% and EPS of SAR 0.71. On a quarterly basis, revenue declined by approximately 48.7% versus Q4 2024, reflecting typical seasonal patterns and high fourth-quarter activity in prior year periods. Despite the sequential revenue drop, profitability metrics remained robust, supported by disciplined cost controls and a favorable product mix that sustained margins. The absence of debt data and limited balance sheet detail in the provided results constrain a full liquidity assessment; nonetheless, the QQ1 2025 results position the company well on a path of earnings quality and margin resilience relative to some peers in the regional plastics and packaging space.