SACO loses SAR 14.1M in 2024; earns SAR 3.4M in Q4

09/03/2025 Argaam Exclusive

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Saudi Company for Hardware (SACO) narrowed 2024 net losses to SAR 14.1 million, from SAR 69 million a year earlier.

Financials (M)

Item	2023	2024	Change‬
Revenues	930.12	993.64	6.8 %
Gross Income	104.09	141.48	35.9 %
Operating Income	(40.07)	17.92	144.7 %
Net Income	(68.97)	(14.09)	79.6 %
Average Shares	36.00	36.00	-
Earnings Per Share before unusual items (Riyals)	(3.39)	(0.39)	88.4 %
EPS (Riyals)	(1.92)	(0.39)	79.6 %

SACO reported higher sales on the introduction of new categories and products in addition to improved revenue from logistics services.

Gross profit improved on increased commercial terms as well as operational efficiency, lower general and administrative expenses (G&As) and higher other income.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	238.98	279.08	16.8 %
Gross Income	22.41	43.70	95.0 %
Operating Income	(15.39)	27.29	277.3 %
Net Income	(24.32)	3.42	114.1 %
Average Shares	36.00	36.00	-
Earnings Per Share before unusual items (Riyals)	(0.71)	0.10	113.5 %
EPS (Riyals)	(0.68)	0.10	114.1 %

Item	Q3 2024	Q4 2024	Change‬
Revenues	245.45	279.08	13.7 %
Gross Income	33.06	43.70	32.2 %
Operating Income	(4.36)	27.29	726.6 %
Net Income	(8.98)	3.42	138.1 %
Average Shares	36.00	36.00	-
Earnings Per Share before unusual items (Riyals)	(0.25)	0.10	138.1 %
EPS (Riyals)	(0.25)	0.10	138.1 %

SACO earned SAR 3.4 million net profit in Q4 2024, versus a net loss of SAR 24.32 million in the year-earlier period.

On a quarterly basis, SACO turned to a profit in Q4 from a net loss of SAR 8.98 million in Q3 2024.

Total shareholders’ equity, no minority interest, stood at SAR 326.29 million by Dec. 31, 2024, compared to SAR 343.75 million a year earlier.

Accumulated losses at the end of December 2024 amounted to SAR 29.68 million, representing 8.25% of the capital.

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