Milan’s losses increased by 209% to 21.8 million riyals by the end of 2025
Exacerbation of the company’s net losses "Malan Iron Products" For the fiscal year 2025, by 209% to 21.84 million riyals, compared to net losses amounting to 7.07 million riyals in the previous year.
The increase in net losses is due to a decrease in sales due to weak liquidity, a decrease in the value of goodwill resulting from the evaluation and a charge to the income statement of 8.5 million riyals, and the formation of an allowance for credit losses arising from the acquisition of 3 million riyals.
The cost of financing also increased by 1.1 million riyals, which is The benefits of issuing sukuks during the year 2025, and depreciation expenses after valuing the factory’s assets at 1.1 million riyals.
The company explained in a statement on: "Saudi Arabia trading"By April 28, 2026, its accumulated losses amounted to 99.2% of the capital, indicating the implementation of procedures and instructions for companies whose shares are listed on the Saudi financial market, whose accumulated losses amounted to 50% or more of their capital.
In another context, the company’s Board of Directors approved, in its meeting held on April 28, 2026, the appointment of the Vice Chairman of the Board of Directors, Majid bin Ibrahim Al-Odaibi, as a member. As a delegate to the company, his membership status will be changed to executive member, effective April 29, 2026.
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