Burgerizzr 2024 profit drops 31% to SAR 8.4M; Q4 at SAR 1.2M

02/03/2025 Argaam Exclusive

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Shatirah House Restaurant Co. (Burgerizzr) reported a net profit of SAR 8.4 million in 2024, falling 31% from SAR 12.3 million a year earlier.

Financials (M)

Item	2023	2024	Change‬
Revenues	281.05	299.58	6.6 %
Gross Income	84.75	90.95	7.3 %
Operating Income	15.81	10.97	(30.6 %)
Net Income	12.29	8.45	(31.3 %)
Average Shares	35.00	35.00	-
Earnings Per Share before unusual items (Riyals)	0.35	0.24	(31.3 %)
EPS (Riyals)	0.35	0.24	(31.3 %)

Selling expenses rose by 10% (SAR 4.4 million) compared with a year before. Administrative expenses jumped by 26.9% (SAR 6.7 million) year-on-year (YoY), while finance costs were up by SAR 192,000 YoY.

However, revenues grew by approximately 6.6% YoY and gross profit by 7.3% YoY. In addition, the annual loss on disposal of property and equipment decreased by SAR 460,000 and other income increased by SAR 586,000 YoY.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	76.73	76.42	(0.4 %)
Gross Income	25.37	20.89	(17.7 %)
Operating Income	5.81	(0.04)	(100.6 %)
Net Income	4.97	(1.17)	(123.6 %)
Average Shares	35.00	35.00	-
Earnings Per Share before unusual items (Riyals)	0.14	(0.03)	(123.6 %)
EPS (Riyals)	0.14	(0.03)	(123.6 %)

Item	Q3 2024	Q4 2024	Change‬
Revenues	77.08	76.42	(0.8 %)
Gross Income	23.05	20.89	(9.4 %)
Operating Income	3.16	(0.04)	(101.1 %)
Net Income	2.93	(1.17)	(140.1 %)
Average Shares	35.00	35.00	-
Earnings Per Share before unusual items (Riyals)	0.08	(0.03)	(140.1 %)
EPS (Riyals)	0.08	(0.03)	(140.1 %)

In Q4 2024, the company turned to a loss of SAR 1.2 million, against a net profit of SAR 4.9 million a year earlier.

Burgerizzr also swung to a loss from net earnings of SAR 2.9 million in Q3 2024.

Total shareholders’ equity, no minority interest, rose to SAR 72.05 million as of Dec. 31, 2024, from SAR 68.86 million a year earlier.

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