Financial Results : Tanmiah profit rises 26% to SAR 95.8M in 2024; Q4 at SAR 26.8M

Tanmiah profit rises 26% to SAR 95.8M in 2024; Q4 at SAR 26.8M

16/02/2025 Argaam Exclusive

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Tanmiah Food Co. reported a net profit of SAR 95.8 million for 2024, an increase of 26% from SAR 75.9 million in the year earlier period.



Financials (M)

Item 2023 2024 Change‬
Revenues 2,093.09 2,563.50 22.5 %
Gross Income 494.77 654.40 32.3 %
Operating Income 136.70 186.70 36.6 %
Net Income 75.94 95.80 26.2 %
Average Shares 20.00 20.00 -
Earnings Per Share before unusual items (Riyals) 3.80 4.79 26.2 %
EPS (Riyals) 3.80 4.79 26.2 %

Revenue increased 22.5% in 2024 to SAR 2.56 billion, supported by continued expansion of fresh poultry capacity, increased sales volumes of fresh poultry, broader geographical coverage, focused marketing, and channel expansion.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 576.22 684.90 18.9 %
Gross Income 151.51 178.40 17.7 %
Operating Income 46.70 56.30 20.6 %
Net Income 26.37 26.80 1.6 %
Average Shares 20.00 20.00 -
Earnings Per Share before unusual items (Riyals) 1.32 1.34 1.6 %
EPS (Riyals) 1.32 1.34 1.6 %

Q4 2024 net profit added 2% to SAR 26.8 million from SAR 26.4 million in the year-earlier period.

 

Tanmiah reported an 18.9% increase in revenues to SAR 684.9 million in Q4 2024, supported by a solid growth across all business segments. Gross profit increased 17.7% in Q4 to SAR 178.4 million, as a result of the robust top line performance and operational efficiency.

 

On a sequential basis, net earnings increased 11% from SAR 24.1 million in Q3 2024.

 

Total shareholders’ equity, after minority interest, stood at SAR 682 million by Dec. 31, 2024, compared to SAR 618.8 million a year earlier.

 

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