Zoujaj 2024 profit up to SAR 96.8M; Q4 at SAR 22M

16/03/2025 Argaam Exclusive

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The National Co. for Glass Industries (Zoujaj)’s net profit leapt to SAR 96.8 million for 2024, from SAR 47.9 million a year earlier.

Financials (M)

Item	2023	2024	Change‬
Revenues	153.92	138.90	(9.8 %)
Gross Income	35.19	34.00	(3.4 %)
Operating Income	20.70	15.90	(23.2 %)
Net Income	47.88	96.80	102.2 %
Average Shares	32.90	32.90	-
Earnings Per Share before unusual items (Riyals)	1.46	2.94	102.2 %
EPS (Riyals)	1.46	2.94	102.2 %

The company reported a rise in profit share from its associate companies in the float glass sector, after the full operational launch of Saudi Guardian International Float Glass Co. Ltd.

However, sales decreased due to lower production volumes from maintenance activities and the installation of new machinery to improve production quality.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	39.44	36.90	(6.4 %)
Gross Income	9.09	10.20	12.2 %
Operating Income	2.50	4.70	88.0 %
Net Income	26.19	22.00	(16.0 %)
Average Shares	32.90	32.90	-
Earnings Per Share before unusual items (Riyals)	0.80	0.67	(16.0 %)
EPS (Riyals)	0.80	0.67	(16.0 %)

Item	Q3 2024	Q4 2024	Change‬
Revenues	36.14	36.90	2.1 %
Gross Income	9.34	10.20	9.3 %
Operating Income	4.50	4.70	4.4 %
Net Income	25.15	22.00	(12.5 %)
Average Shares	32.90	32.90	-
Earnings Per Share before unusual items (Riyals)	0.76	0.67	(12.5 %)
EPS (Riyals)	0.76	0.67	(12.5 %)

Q4 2024 profit declined 16% to SAR 22 million from SAR 26.19 million in the year-ago period.

Compared to the previous quarter, Q4 net profit fell 12.5% from SAR 25.15 million.

Shareholders’ equity, no minority interest, stood at SAR 754.3 million by the end of Dec. 31, 2024, compared to SAR 721.6 million in the year-earlier period.

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