Financial Results : Almajed Oud profit grows 6% to SAR 157M in 2024; Q4 at SAR 15M

Almajed Oud profit grows 6% to SAR 157M in 2024; Q4 at SAR 15M

06/03/2025 Argaam Exclusive

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Almajed Oud Co. reported a net profit of SAR 157 million in 2024, marking a 6% growth from SAR 148.7 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 772.46 926.00 19.9 %
Gross Income 512.87 609.70 18.9 %
Operating Income 163.69 178.51 9.1 %
Net Income 148.68 156.96 5.6 %
Average Shares 25.00 25.00 -
Earnings Per Share before unusual items (Riyals) 6.13 6.28 2.4 %
EPS (Riyals) 5.95 6.28 5.6 %

The increase in profit was driven by higher sales due to geographical expansions, new stores, increased spending on marketing campaigns, launch of new products and a growth in e-commerce sales.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 227.66 242.26 6.4 %
Gross Income 146.47 146.89 0.3 %
Operating Income 38.65 23.12 (40.2 %)
Net Income 33.58 15.03 (55.2 %)
Average Shares 25.00 25.00 -
Earnings Per Share before unusual items (Riyals) 1.52 0.60 (60.6 %)
EPS (Riyals) 1.34 0.60 (55.2 %)

Q4 2024 net earnings dropped 55% to SAR 15 million from SAR 33.5 million in the year-earlier period.

 

On a sequential basis, net profit slumped 33% from SAR 22.4 million in Q3 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 468.18 million by Dec. 31, 2024, compared to SAR 377.26 million a year earlier.

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