Latest news with #FirstMills
Zawya
23-06-2025
- Business
- Zawya
Saudi: First Milling inks financing deal with SIDF
Riyadh: First Mills Company has signed a SAR 69.40 million financing facility agreement with the Saudi Industrial Development Fund (SIDF), according to a bourse filing. The funding aims to support the company's capital expenditure for several upcoming projects that will contribute to expanding and boosting its activities. The agreement, secured on 17 June 2025, will be repaid in 12 equal semiannual instalments, beginning on 15 February 2027 and concluding on 15 August 2032. The loan is backed by a full-value, irrevocable, and unconditional bank guarantee issued by a local bank approved by the Saudi Central Bank (SAMA). As of 31 March 2025, First Mills reported net profits of SAR 79.66 million, marking a 2.49% year-on-year (YoY) increase from SAR 77.72 million.
Argaam
19-06-2025
- Business
- Argaam
First Mills secures SAR 69M loan from SIDF
First Mills Co. signed a SAR 69.4 million financing agreement with the Saudi Industrial Development Fund (SIDF) to support capital expenditures for upcoming projects and drive the company's expansion, it said in a filing to Tadawul. The loan will be repaid in 12 equal semiannual installments, starting Feb. 15, 2027, and ending Aug. 15, 2032, following a grace period. First Mills said it issued an irrevocable bank guarantee from a local bank approved by the Saudi Central Bank (SAMA), covering the full loan amount. The company added that any material developments related to the SIDF facility will be announced in accordance with applicable regulations.
Zawya
24-04-2025
- Business
- Zawya
Saudi: First Mills records 2.5% higher profits in Q1-25
Riyadh – First Milling Company (First Mills) achieved 2.49% higher net profits at SAR 79.66 million in the first quarter (Q1) of 2025, compared to SAR 77.72 million. The revenues increased by 2.58% year-on-year (YoY) to SAR 283.59 million in Q1-25 from SAR 276.44 million, according to the financial statements. Earnings per share (EPS) recorded an annual growth as of 31 March 2025, hitting SAR 1.44 when compared to SAR 1.40. Quarter-on-quarter (QoQ), the Q1-25 profits hiked by 19.98% from SAR 66.39 million in Q4-24, while the revenues jumped by 5.48% from SAR 268.84 million. Source: Mubasher
Zawya
22-04-2025
- Business
- Zawya
Saudi: First Mills secures $168mln loan from SAB
Riyadh – First Milling Company (First Mills) penned a long-term sharia-compliant bank facility agreement worth SAR 630 million with the Saudi Awwal Bank (SAB) on 20 April 2025. First Mills will use the loan to support its commercial and operational activities that contribute to its future expansion and growth, according to a bourse disclosure. It aligns with the company's strategy to optimize financing costs, boost profitability, and drive sustainable long-term returns for shareholders. These facilities include financing debt repayments, financing working capital requirements, bank guarantee facilities, and letters of credit. Valid until 31 December 2035, the loan is secured by promissory notes for the facility amounts. At the end of 2024, the company recorded 13.94% higher net profits at SAR 250.90 million, compared to SAR 220.20 million in 2023. Source: Mubasher
Argaam
21-04-2025
- Business
- Argaam
First Mills signs SAR 630M credit facility with SAB
First Milling Co. (First Mills) signed a long-term Shariah-compliant bank facility agreement worth SAR 630 million with Saudi Awwal Bank (SAB). In a filing to Tadawul, the company said this mixed-use deal aims to support the company's commercial and operational activities, contributing to its future expansion. The financing, available until Dec. 31, 2035, is guaranteed under promissory notes of the facility amounts, First Mills said. The company noted that the loan aims to support its growth and expansion while optimizing financing costs, enhancing profitability, and delivering sustainable long-term returns for shareholders. The facilities include financing for debt repayments, working capital requirements, bank guarantees, and letters of credit, as needed. The board of directors approved the funding on March 23, with all necessary legal procedures completed and signatures received as a final version on April 20.
