Riyadh – Mubasher: Elm Company has been awarded a contract by the Saudi Standards, Metrology and Quality Organization (SASO) to develop and operate a comprehensive product safety system.
The five-year agreement involves the creation of an integrated digital platform to serve as the technical infrastructure for the system, alongside the execution of various operational tasks.
The contract is structured as a revenue-sharing model, meaning the total value is not fixed but will depend on the volume of operations executed.
Meanwhile, Elm expects the projected revenue from this contract over its duration to represent 15% of the company’s total revenue based on the audited annual financial statements for 2025.
The company stated that no legal or financial obligations will arise during this period until the formal contract is signed.
Elm confirmed there are no related parties involved in the transaction and committed to announcing any material developments in accordance with relevant regulations.
This project aligns with the company's focus on providing digital infrastructure and operational solutions for government entities.
In the first quarter (Q1) of 2026, the listed company’s net profits jumped by 32.52% to SAR 656 million from SAR 495 million in Q1-25.
