Financial Results : Herfy loses SAR 116.5M in 2024, SAR 59.9M in Q4

Herfy loses SAR 116.5M in 2024, SAR 59.9M in Q4

04/03/2025 Argaam Exclusive

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Herfy Food Services Co. swung to a loss of SAR 116.5 million in 2024, from earnings of SAR 8.4 million in the earlier-year period.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,173.70 1,124.77 (4.2 %)
Gross Income 284.41 217.24 (23.6 %)
Operating Income 43.08 (66.45) (254.3 %)
Net Income 8.39 (116.52) (1489.4 %)
Average Shares 64.68 64.68 -
Earnings Per Share before unusual items (Riyals) 0.13 (1.68) (1392.9 %)
EPS (Riyals) 0.13 (1.80) (1489.4 %)

The company reported lower revenues due to a decrease in sales, along with higher selling, marketing, general, and administration expenses. Also, the company cited higher financing and Zakat expenses, as well as lower other income.

 

Herfy turned to a loss of SAR 59.9 million from earnings of SAR 5.63 million in Q4 2023.

 

The company widened the three-month loss from SAR 33.37 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 297.31 255.95 (13.9 %)
Gross Income 75.22 33.13 (56.0 %)
Operating Income 14.35 (48.90) (440.8 %)
Net Income 5.63 (59.91) (1165.0 %)
Average Shares 64.68 64.68 -
Earnings Per Share before unusual items (Riyals) 0.09 (0.93) (1165.0 %)
EPS (Riyals) 0.09 (0.93) (1165.0 %)

Total shareholders’ equity, no minority interest, stood at SAR 924.99 million as of Dec. 31, 2024, compared to SAR 1.03 billion in the year-earlier period.

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