Baazeem profit rises 8% to SAR 23.3M in 2024; Q4 at SAR 5.2M

06/03/2025 Argaam Exclusive

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Baazeem Trading Co. reported a net profit of SAR 23.3 million by the end of 2024, from SAR 21.7 million in the same period last year.

Financials (M)

Item	2023	2024	Change‬
Revenues	257.11	263.37	2.4 %
Gross Income	98.92	101.89	3.0 %
Operating Income	25.97	26.54	2.2 %
Net Income	21.65	23.31	7.6 %
Average Shares	101.25	101.25	-
Earnings Per Share before unusual items (Riyals)	0.21	0.23	7.6 %
EPS (Riyals)	0.21	0.23	7.6 %

Baazeem attributed the annual profit growth to sales generated from the new brand, a 2.43% increase in overall sales, and the optimization of the cost of sales.

In Q4 2024, net earnings leapt 27% to SAR 5.2 million, compared with SAR 4.09 million in Q4 2023.

On a quarterly basis, the bottom line also grew 2.9% from SAR 5.03 million in Q3 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	61.86	70.59	14.1 %
Gross Income	27.02	27.32	1.1 %
Operating Income	5.19	6.08	17.2 %
Net Income	4.09	5.18	26.5 %
Average Shares	101.25	101.25	-
Earnings Per Share before unusual items (Riyals)	0.04	0.05	26.5 %
EPS (Riyals)	0.04	0.05	26.5 %

Item	Q3 2024	Q4 2024	Change‬
Revenues	64.79	70.59	8.9 %
Gross Income	23.17	27.32	17.9 %
Operating Income	5.90	6.08	3.1 %
Net Income	5.03	5.18	2.9 %
Average Shares	101.25	101.25	-
Earnings Per Share before unusual items (Riyals)	0.05	0.05	2.9 %
EPS (Riyals)	0.05	0.05	2.9 %

Shareholders’ equity, no minority interest, reached SAR 199.15 million by the end of 2024, up from SAR 194.05 million a year earlier.

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