Rasan Information Technology Co. announces its Interim Financial results for the Period Ending on 2025-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 124.2 | 63.5 | 95.59 | 120.5 | 3.07 |
| Gross Profit (Loss) | 90.4 | 37.4 | 141.711 | 85.8 | 5.361 |
| Operational Profit (Loss) | 45.15 | 11.7 | 285.897 | 29.8 | 51.51 |
| Net profit (Loss) | 45 | 8.82 | 410.204 | 30 | 50 |
| Total Comprehensive Income | 45 | 8.03 | 460.398 | 30 | 50 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 244.7 | 130.5 | 87.509 |
| Gross Profit (Loss) | 176.2 | 77.5 | 127.354 |
| Operational Profit (Loss) | 75 | 21.7 | 245.622 |
| Net profit (Loss) | 75 | 18.3 | 309.836 |
| Total Comprehensive Income | 75 | 22.1 | 239.366 |
| Total Shareholders Equity (after Deducting Minority Equity) | 507.3 | 334 | 51.886 |
| Profit (Loss) per Share | 0.97 | 0.26 | |
| 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 | Sales/revenue in Q2 2025 increased by 96% vs. Q2 2024, due to the continued growth in motor retail insurance, upgrades in the motor leasing insurance model, strong growth in health insurance supported by continued product innovation and digital adoption, and early traction from recently launched verticals. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit in Q2 2025 increased more than 4x vs. Q2 2024, due to the following reasons:
• The strong top-line growth where revenue increased by 96% vs. 2Q 2024. • An increase in the gross profit margin by 13.8p.p. (72.8% in Q2 2025 vs. 58.9% during Q2 2024), driven by scale, product mix, up and cross-selling. • Increase in operating profit by 285% vs. Q2 2024 driven by scale and enhancement of the operational efficiency. This resulted in an increase in operating profit margin to 36.4% vs. 18.5% in Q2 2024). • Non-recurring expenses in the comparable quarter of the previous year related to the company’s listing costs on the main market. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Sales/revenue in Q2 2025 increased by 3% vs. Q1 2025, primarily due to continued momentum in the Health business and additional volume growth in the leasing business insurance. This growth comes despite the overlap of both Eid holidays during the second quarter of this year. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profits in Q2 2025 increased 50% vs. Q1 2025, due to the following reasons:
• The continued top-line growth where revenue increased by 3% vs. Q1 2025. • An increase in the gross profit margin by 1.6p.p. (72.8% in Q2 2025 vs. 71.2% during Q1 2025), driven by continued changes in product mix. • Increase in operating profit by 52% vs. Q1 2025 driven by continued increase in scale and enhancing the operational efficiency. This resulted in an increase in operating profit margin to 36.4% vs. 24.7% in Q1 2025. • Started the revenues generation from several new products that were invested in and developed during the past period, in addition to launched improvements to existing products, which positively impacted performance during the second quarter of this year. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Sales/revenue in H1 2025 increased by 88% vs. H1 2024, due to the continued growth in motor retail, upgrades in the leasing model, strong growth in health supported by continued product innovation and digital adoption, and early traction from recently launched verticals. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit in H1 2025 increased more than 3x vs. H1 2024, due to the following reasons:
• The strong top-line growth where revenue increased by 88% vs. H1 2024. • An increase in the gross profit margin by 12.6p.p. (72.0% in H1 2025 vs. 59.4% during H1 2024). • Increase in operating profit by 246% vs. H1 2024 driven by continued increase in scale and the shift in the leasing business model. This resulted in an increase in operating profit margin to 30.7% vs. 16.6% in H1 2024. Non-recurring expenses in the same period of the previous year related to the company’s listing costs on the main market. • Enhancing operational efficiency and improving procedures and processes related to contracts to help reduce certain expenses and costs, and improve profit margins. |
| 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) | None |
| Reclassification of Comparison Items | None |
| Additional Information | The attached document includes an adjusted profit margin after excluding non-cash expenses of SAR 8.6 million related to the employee stock program (Long-Term Incentive Plan) for the first half of this year. Accordingly, the company’s adjusted net profit for the first half of 2025 amounts to SAR 83.6 million, compared to SAR 18.3 million for the same period in 2024, representing a growth of 357%.
The company would like to invite its respective shareholders and financial analyst to attend a conference call for discussing the financial results for the period ending with 30/06/2025. The call is scheduled to be on Wednesday, the 6th of August 2025 at 16:30 Saudi Time. At the end of the call, there will be an interactive Q&A session.
For further details of the call including the registration link, kindly check the attachment or contact the investor relations through [email protected] |
| Attached Documents |  |
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