Financial Results : CATRION 2024 profit rises 25% to SAR 352.8M; Q4 at SAR 98.7M

CATRION 2024 profit rises 25% to SAR 352.8M; Q4 at SAR 98.7M

24/03/2025 Argaam Exclusive

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CATRION Catering Holding Co. reported a net profit of SAR 352.8 million in 2024, an increase of 25% year-on-year (YoY) from SAR 282.7 million.


Financials (M)

Item 2023 2024 Change‬
Revenues 2,133.76 2,299.26 7.8 %
Gross Income 565.99 641.61 13.4 %
Operating Income 304.37 360.52 18.4 %
Net Income 282.66 352.77 24.8 %
Average Shares 82.00 82.00 -
Earnings Per Share before unusual items (Riyals) 3.22 4.30 33.7 %
EPS (Riyals) 3.45 4.30 24.8 %

Revenue increased 7.8% YoY to SAR 2.29 billion in 2024, on improved performances in the inflight catering and business lounge segments.

 

Profit margins improved due to overall cost management, resulting in a 13.4% YoY increase in gross profit to SAR 641.6 million in 2024. Operating profit rose to SAR 360.5 million in 2024 compared to SAR 304.4 million in the previous year.

 

Other contributing factors include improved collection efforts leading to a favourable change in the expected credit loss allowance for aged receivables, as well as positive impact from recent amendments to Zakat regulations.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 549.13 594.43 8.2 %
Gross Income 142.19 174.54 22.8 %
Operating Income 74.84 100.31 34.0 %
Net Income 69.45 98.74 42.2 %
Average Shares 82.00 82.00 -
Earnings Per Share before unusual items (Riyals) 0.79 1.20 53.1 %
EPS (Riyals) 0.85 1.20 42.2 %

Q4 2024 net earnings jumped 42% to SAR 98.7 million, from SAR 69.45 million in Q4 2023. Sequentially, the bottom line declined 9.9% from SAR 109.6 million in Q3 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 1.45 billion by Dec. 31, 2024, compared to SAR 1.28 billion a year earlier.

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