Financial Results : MC4 profit jumps 20% to SAR 170.9M in 2024; Q4 at SAR 42.1M

MC4 profit jumps 20% to SAR 170.9M in 2024; Q4 at SAR 42.1M

09/03/2025 Argaam Exclusive

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Fourth Milling Co. (MC4) reported a net profit of SAR 170.9 million for 2024, a 20% rise from SAR 142.8 million a year earlier.


Financials (M)

Item 2023 2024 Change‬
Revenues 558.09 629.03 12.7 %
Gross Income 246.17 294.57 19.7 %
Operating Income 163.83 198.37 21.1 %
Net Income 142.82 170.93 19.7 %
Average Shares 540.00 540.00 -
Earnings Per Share before unusual items (Riyals) 0.26 0.33 25.8 %
EPS (Riyals) 0.26 0.32 19.7 %

The rise in revenue was driven by the strong performance in various flour categories, which contributed 15% growth, compared to the previous year. Feed and bran revenues increased by 12% YoY. The company also reported a 16% YoY rise in volumes, backed by a stronger footprint and broader geographic coverage.

 

On the other hand, MC4 recorded higher administrative expenses due to filling vacancies, and certain one-off expenses of SAR 8.8 million that affected 2024 profitability.

 

Lease contracts finance costs increased by SAR 3.5 million YoY, but the increase was partially offset by additional income from Shariah-compliant investment deposits of SAR 1.7 million.

 

The fourth-quarter net earnings also climbed 20% to SAR 42.1 million from SAR 35.1 million in Q4 2023.

 

On a quarterly basis, net earnings dropped 10.5% from SAR 47 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 147.40 166.74 13.1 %
Gross Income 65.39 80.91 23.7 %
Operating Income 38.14 53.57 40.4 %
Net Income 35.17 42.10 19.7 %
Average Shares 540.00 540.00 -
Earnings Per Share before unusual items (Riyals) 0.07 0.09 44.7 %
EPS (Riyals) 0.07 0.08 19.7 %

Total shareholders’ equity, after minority interest, reached SAR 713.37 million as of Dec. 31, 2024, up from SAR 683.01 million a year earlier.

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