Build Station earns SAR 50.5M in 2025, SAR 5.1M in Q4
Marketing Home Group for Trading Co. (Build Station) reported a net profit of SAR 50.5 million for 2025, down 9% from SAR 55.5 million a year earlier.
Financials (Million Riyal)
| Item | 2024 | 2025 | Change |
|---|---|---|---|
| Revenues | 389.97 | 399.99 | 2.6 % |
| Gross Income | 215.36 | 210.78 | (2.1 %) |
| Operating Income | 65.44 | 64.56 | (1.3 %) |
| Net Income | 55.51 | 50.47 | (9.1 %) |
| Average Shares | 16.00 | 16.00 | - |
| Earnings Per Share before unusual items (Riyals) | 3.47 | 3.15 | (9.1 %) |
| EPS (Riyal) | 3.47 | 3.15 | (9.1 %) |
The decline was mainly driven by a higher cost of revenues and increased financing costs. This was partly offset by a 2.56% rise in total sales compared with 2024, supported by the sales mix across various segments and related accessories.
Wholesale, projects, and export sales posted notable growth, contributing to the overall increase in revenue, while operating expenses declined during the period.
Build Station’s fourth-quarter net profit fell 68.4% to SAR 5.09 million from SAR 16.11 million a year earlier. On a quarterly basis, profit dropped 69.1% from SAR 16.5 million in the third quarter.
Current Quarter Comparison (Million Riyal)
| Item | Q4 2024 | Q4 2025 | Change |
|---|---|---|---|
| Revenues | 107.64 | 104.02 | (3.4 %) |
| Gross Income | 57.07 | 46.62 | (18.3 %) |
| Operating Income | 19.47 | 7.26 | (62.7 %) |
| Net Income | 16.11 | 5.09 | (68.4 %) |
| Average Shares | 16.00 | 16.00 | - |
| Earnings Per Share before unusual items (Riyal) | 1.01 | 0.32 | (68.4 %) |
| EPS (Riyal) | 1.01 | 0.32 | (68.4 %) |
Shareholders’ equity, excluding minority interest, amounted to SAR 291.79 million by the end of 2025, compared to SAR 313.18 million at the end of 2024.
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Share Price
| Current | |
| Market Cap (M Riyal) | 570.56 |
| Enterprise Value (EV) (M Riyal) | 512.43 |
| Shares Outstanding ((M)) | 16.00 |
| Recurring EPS ( Riyal) (TTM) | 2.51 |
| Book Value (BV) ( Riyal) | 17.40 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E (TTM) | 14.23 |
| P/E (TTM) | 14.23 |
| Price/book | 2.05 |
| Dividend Yield (%) (Last Year) | 4.21 |
| Return on Average Assets (%) (TTM) | 8.0 |
| Return on Average Equity (%) (TTM) | 12.6 |
| EV/adj EBITDA | 6.53 |
| EV/Revenues | 1.34 |
Financial results (Million Riyal)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2025 | 87.72 | (16.4 %) | 50.99 | (14.5 %) | 15.79 | (36.2 %) |
| Q2 2025 | 105.12 | 24.8 % | 55.78 | 28.8 % | 20.55 | 330.7 % |
| Q3 2025 | 103.13 | 10.6 % | 57.39 | 3.7 % | 20.96 | 27.2 % |
| Q4 2025 | 104.02 | (3.4 %) | 46.62 | (18.3 %) | 7.26 | (62.7 %) |
| 2025 | 399.99 | 2.6 % | 210.78 | (2.1 %) | 64.56 | (1.3 %) |
Profit Performance (Million Riyal)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2025 | 12.79 | (40.1 %) | 0.80 | - | 12.79 | 0.80 |
| Q2 2025 | 16.10 | 543.5 % | 1.01 | - | 16.10 | 1.01 |
| Q3 2025 | 16.50 | 6.0 % | 1.03 | - | 16.50 | 1.03 |
| Q4 2025 | 5.09 | (68.4 %) | 0.32 | - | 5.09 | 0.32 |
| 2025 | 50.47 | (9.1 %) | 3.15 | - | 50.47 | 3.15 |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2024 | - | - | - |
| Q2 2024 | 54.83 % | - | 11.04 % |
| Q3 2024 | 56.22 % | 21.03 % | 11.24 % |
| Q4 2024 | 55.22 % | 23.71 % | 14.23 % |
| 2024 | 55.22 % | 23.55 % | 14.23 % |
| Q1 2025 | 55.44 % | 22.65 % | 12.60 % |
| Q2 2025 | 55.67 % | 25.37 % | 15.38 % |
| Q3 2025 | 54.81 % | 25.75 % | 15.24 % |
| Q4 2025 | 52.70 % | 23.27 % | 12.62 % |
| 2025 | 52.70 % | 23.27 % | 12.62 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2025 | 16.00 | 2.94 | 2.94 | 20.38 |
| Q2 2025 | 16.00 | 3.78 | 3.78 | 21.39 |
| Q3 2025 | 16.00 | 3.84 | 3.84 | 22.42 |
| Q4 2025 | 16.00 | 3.15 | 3.15 | 18.24 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2025 | - | - | - |
| Q2 2025 | - | - | - |
| Q3 2025 | 19.51 | 19.51 | 3.35 |
| Q4 2025 | 17.15 | 17.15 | 2.97 |
Business Segments (Million Riyal)
Q4 2025
| Period | Ceramics and Sanitary ware | Lighting | Consulting,Supplies,Installation and others | Adjustments and Exclusions |
|---|---|---|---|---|
| Q1 2025 | 51.20 | 41.03 | 0.52 | (5.03) |
| Q2 2025 | 67.12 | 42.32 | 1.71 | (6.03) |
| Q3 2025 | 64.06 | 44.19 | 2.01 | (7.13) |
| Q4 2025 | 63.58 | 45.55 | 3.24 | (8.36) |
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