TALCO 2024 profit up 3% to SAR 82.7M; Q4 at SAR 21.9M

20/03/2025 Argaam Exclusive

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Al Taiseer Group Talco Industrial Co.’s (TALCO) net profit rose to SAR 82.7 million for 2024, compared to SAR 80.1 million in 2023.

Financials (M)

Item	2023	2024	Change‬
Revenues	677.86	706.51	4.2 %
Gross Income	147.13	158.89	8.0 %
Operating Income	94.07	98.37	4.6 %
Net Income	80.13	82.65	3.1 %
Average Shares	40.00	40.00	-
Earnings Per Share before unusual items (Riyals)	2.00	2.07	3.1 %
EPS (Riyals)	2.00	2.07	3.1 %

Sales value rose to SAR 706.51 million in 2024, compared to SAR 677.86 million in 2023, on higher sales volumes in aluminum and paint segments.

Cost of sales decreased, along with an increase in other revenues.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	179.71	212.09	18.0 %
Gross Income	41.98	46.75	11.4 %
Operating Income	26.92	25.60	(4.9 %)
Net Income	21.44	21.91	2.2 %
Average Shares	40.00	40.00	-
Earnings Per Share before unusual items (Riyals)	0.54	0.55	2.2 %
EPS (Riyals)	0.54	0.55	2.2 %

Item	Q3 2024	Q4 2024	Change‬
Revenues	167.25	212.09	26.8 %
Gross Income	35.72	46.75	30.9 %
Operating Income	20.80	25.60	23.0 %
Net Income	16.77	21.91	30.6 %
Average Shares	40.00	40.00	-
Earnings Per Share before unusual items (Riyals)	0.42	0.55	30.6 %
EPS (Riyals)	0.42	0.55	30.6 %

On the other hand, TALCO witnessed an increase in selling, marketing, administrative and general expenses. The company also experienced higher losses due to impairment in receivables. Moreover, financing costs saw an increase, along with a rise in Zakat expenses.

In Q4 2024, the company’s net profit dropped 2% YoY to SAR 21.9 million, from SAR 21.44 million.

On a sequential basis, net earnings surged 30.6% from SAR 16.77 million in Q3 2024.

Shareholders’ equity, no minority interest, reached SAR 505.63 million by Dec. 31, 2024, compared to SAR 483.44 million in the year-earlier period.

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