Almarai 2024 profit up 13% to SAR 2.31B; Q4 at SAR 430.7M

Almarai Co. reported a rise of 13% in net profit to SAR 2.31 billion for 2024, compared to SAR 2.04 billion in 2023.

The profit increase came as revenue grew 7% year-on-year (YoY), along with disciplined cost control and favorable product mix.

Dairy and juice segment’s profit rose YoY on improved sales mix, launch of new range of products including ice cream, and tighter cost control measures.

Meanwhile, higher revenue and production cost efficiencies boosted bakery segment’s profits YoY. Poultry segment’s net profit also showed positive movement due to continued production optimization and improved economies of scale.

The fourth-quarter net profit leapt 16% YoY to SAR 430.7 million, backed by a 5% YoY rise in revenue across most products and countries, along with improved sales mix and cost control measures.

Compared to the previous quarter, net profit dropped by 24.5% from SAR 570.45 million in Q3 2024, due to seasonal adjustment in consumption patterns.

Total shareholders’ equity, excluding minority interest, increased to SAR 18.79 billion as of Dec. 31, 2024, from SAR 17.79 billion a year earlier.

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