First Milling Co. reports US$74M net profit in annual financial results for 2025
This performance was underpinned by a 9.3% rise in total revenue, reaching SAR 1,146.4 million (US$305.52M), up from SAR 1,048.9 million (US$279.52M) in 2024.
SAUDI ARABIA – First Milling Company (First Mills), the market-leading Saudi Arabia milling company, released its audited financial results for the full year ending December 31, 2025, showcasing robust growth amid steady demand for flour and related products.
Net profit surged 11% to SAR 277.4 million (US$73.93M) from SAR 250.9 million (US$66.87M) in 2024, driven by higher revenues and improved margins.
Group revenues climbed 9.3% to SAR 1,146.4 million (US$305.52M), up from SAR 1,048.9 million (US$279.52M) the previous year, reflecting strong sales volumes in core flour segments and operational efficiencies.
Feed Revenues up 12.8% YoY to SAR 351.7 million (US$93.79M), increasing contribution to total revenue to 30.7% (FY2024: 29.7%), supported by the acquisition of Al-Manar and expanded production capacity to 1,350 tons/day.
Flour Revenues of SAR 651.8 million (US$173.70M), up 8.8% YoY, maintain the leadership position and account for 56.9% of total revenue, while bran revenues increased 3.6% YoY to SAR 142.9 million (US$38.08M).
Additionally, an expanded integrated feed platform, with the completion of the Al-Manar acquisition and 60% acquisition of Al-Kenan Al-Arabia Trading Company, strengthens downstream distribution and market access.
Production Footprint Strengthened, with Jeddah contributing 46.7% of FY2025 revenues and Qassim 31.5%, reflecting improved utilization and feed scale-up.
Gross profit rose 5.5% to SAR 482.2 million (US$128.51M), while operating income increased 6.7% to SAR 339.7 million (US$90.53M), underscoring effective cost management and favorable market dynamics in the agribusiness sector.
The fourth quarter capped a stellar year, with Q4 2025 net profit jumping 12.5% to SAR 74.7 million (US$19.92M) from SAR 66.4 million (US$17.71M) in Q4 2024.
Quarterly revenues soared 26% to SAR 338.8 million (US$90.35M), fueled by seasonal demand and expanded market share.
Earnings per share (EPS) improved to SAR 5.00 (US$1.33) from SAR 4.52 (US$1.20), signaling sustained profitability for shareholders.
CEO Eng. Abdullah Ababtain attributed the results to strategic expansions, including capacity enhancements at milling plants in Jeddah and other regions, as well as disciplined supply chain practices.
The company’s diversified portfolio, spanning wheat flour, animal feed, and bakery mixes, supports Saudi Arabia’s food security goals under Vision 2030.
The company’s revenue performance in FY2025 reflects the successful execution of its diversification and integration strategy, with feed expansion, improved capacity utilization, and enhanced operational efficiency supporting sustained growth and strengthening its revenue base.
Further advancing its integration strategy, First Mills also completed the acquisition of a 60% stake in Al-Kenan Al-Arabia Trading Company, a Saudi-based feed trading and distribution business, following receipt of all regulatory approvals and fulfilment of transaction conditions.
The acquisition is aligned with the company’s growth strategy and aims to expand its activities in the feed sector, diversify its sources of income, strengthen its market position within the Kingdom and beyond, and enhance supply chain integration across the feed value chain.
The company also continued to expand its geographic footprint, with flour exports to Iraq, the UAE, and Qatar supporting revenue diversification, improving capacity utilization, and mitigating seasonal demand fluctuations.
These initiatives position First Mills to capture regional growth opportunities while strengthening the resilience and scalability of its operating model.
Together, these strategic developments reflect First Mills’ disciplined approach to growth, combining targeted acquisitions, expanded distribution capabilities, and capacity expansion to enhance operational resilience and diversify revenue streams.
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