Financial Results : Takween narrows 2024 loss to SAR 75.8M; Q4 at SAR 50M

Takween narrows 2024 loss to SAR 75.8M; Q4 at SAR 50M

30/03/2025 Argaam Exclusive

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Takween Advanced Industries Co.’s net loss amounted to SAR 75.8 million in 2024, compared with SAR 223.3 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 818.16 671.74 (17.9 %)
Gross Income 0.90 71.34 7852.7 %
Operating Income (154.71) (25.27) 83.7 %
Net Income (223.33) (75.84) 66.0 %
Average Shares 54.59 72.50 32.8 %
Earnings Per Share before unusual items (Riyals) (4.09) (1.05) 74.4 %
EPS (Riyals) (4.09) (1.05) 74.4 %

This was attributed to higher gross profit as well as a decline in administrative, selling, marketing, and distribution expenses. In addition, financing expenses fell and other income increased.

 

However, revenues declined to SAR 671.7 million in 2024, compared to SAR 818.2 million in 2023, primarily due to a fall in sales volume following the discontinuation of certain non-strategic activities and products, as well as adjustments to the pricing policy.

 

The company also cut its Q4 2024 net loss to SAR 50 million, from SAR 137.2 million in the same period a year earlier.

 

Takween had posted a loss of SAR 17.66 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 173.23 142.87 (17.5 %)
Gross Income (27.68) 6.94 125.1 %
Operating Income (117.65) (39.27) 66.6 %
Net Income (137.20) (50.01) 63.6 %
Average Shares 54.59 72.50 32.8 %
Earnings Per Share before unusual items (Riyals) (2.51) (0.69) 72.6 %
EPS (Riyals) (2.51) (0.69) 72.6 %

Total shareholders’ equity, no minority interest, increased to SAR 391.63 million as of Dec. 31, 2024, from SAR 203.75 million a year earlier.

 

Accumulated losses stood at SAR 197.57 million as of Dec. 31, 2023, representing 42% of capital.

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