Jeddah, Saudi Arabia – July 29, 2025 – Al Masane Al Kobra Mining Company (AMAK, Tadawul: 1322) today announced its financial results for the first half of 2025, reporting a net profit of SAR 128.3 million – a 67% increase compared to SAR 76.9 million in H1 2024. Earnings per share rose to SAR 1.45, up from SAR 0.87 in the same period last year.
Total revenue for the period surged 42% year-on-year to SAR 478.3 million, driven by higher sales volumes of zinc (+9%) and gold (+17%), alongside improved average realized prices—particularly gold (+56%). along with the reduction of treatment charges for base metals.
The strong performance was underpinned by a 59% increase in gross profit to SAR 194.4 million, along with reduced selling and finance costs, partially offset by higher general and administrative expenses.
In Q2 2025, AMAK posted a net profit of SAR 73 million, up 32% from Q1 2025, with revenue increasing to SAR 258.6 million (+18%). This marks the highest quarterly profit in the company’s history, driven by record gold sales volumes and favorable market conditions.
Supported by a robust balance sheet, disciplined cash management, and resilient operations, AMAK’s H1 performance highlights its ability to consistently deliver shareholder value. The company generated SAR 112 million in net operating cash flow during the first half,
Commenting on the results, AMAK CEO Geoffrey Day said: “The first-half results reflect the strength of our operational performance and the clarity of our strategic vision. We successfully capitalized on the improvement in commodity markets while maintaining cost discipline and sustaining production momentum. With the rollout of our new growth strategy, we are confident that 2025 will be a landmark year in AMAK’s history.”
Capital expenditure in H1 2025 stood at SAR 22.3 million, significantly lower than the SAR 97.1 million recorded during the same period last year, following the completion of major commissioning works at the Almasane Mine expansion – Moyeath processing plant project.
These results reinforce AMAK’s strategic focus on value-accretive growth, expansion of processing capacity, and a robust exploration program set to intensify in H2 2025. The company’s long-term roadmap is closely aligned with Saudi Arabia’s Vision 2030, contributing to national goals of economic diversification, job creation, and the development of a globally competitive mining sector.
