Financial Results : Al-Jouf Water profit falls 30% to SAR 2.9M in 2024; Q4 at SAR 1.3M

Al-Jouf Water profit falls 30% to SAR 2.9M in 2024; Q4 at SAR 1.3M

27/03/2025 Argaam Exclusive

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Al-Jouf Mineral Water Bottling Co. reported a net profit of SAR 2.9 million in 2024, down 30% from SAR 4.1 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 76.87 67.39 (12.3 %)
Gross Income 39.01 31.23 (20.0 %)
Operating Income 4.78 4.64 (2.9 %)
Net Income 4.10 2.87 (30.0 %)
Average Shares 93.75 93.75 -
Earnings Per Share before unusual items (Halala) 3.31 3.07 (7.4 %)
EPS (Halala) 4.38 3.07 (30.0 %)

Revenue fell 12.34% year-over-year (YoY) in 2024 as the company shifted to wholesale sales, therefore reducing retail exposure in a bid to strengthen market reach — which also weighed on its gross margins.

 

H2 2024 net earnings reached SAR 1.30 million, a 27% decrease from SAR 1.80 million in H2 2023.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 39.38 31.48 (20.1 %)
Gross Income 19.26 15.99 (17.0 %)
Operating Income 1.94 2.70 39.1 %
Net Income 1.80 1.30 (27.4 %)
Average Shares 93.75 93.75 -
Earnings Per Share before unusual items (Halala) 0.85 1.39 63.6 %
EPS (Halala) 1.92 1.39 (27.4 %)

On a biannual basis, the six-month bottom line also slipped by 16.9% from SAR 1.57 million in H1 2024.

 

Total shareholders’ equity, no minority interest, inched up to SAR 89.9 million by Dec. 31, 2024, compared to SAR 87.2 billion a year earlier.

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