Financial Results : SADAFCO posts SAR 484M profit for 2024; Q4 at SAR 92M

SADAFCO posts SAR 484M profit for 2024; Q4 at SAR 92M

16/03/2025 Argaam Exclusive

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Saudia Dairy and Foodstuff Co. (SADAFCO) reported SAR 484 million in net income for 2024 (after minority interest), compared to SAR 327.6 million in 2023.

 

The 2024 net profit before minority interest reached SAR 483.2 million, compared to SAR 325 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 2,111.48 2,962.88 40.3 %
Gross Income 750.67 1,058.57 41.0 %
Operating Income 337.61 468.26 38.7 %
Net Income 327.62 483.84 47.7 %
Average Shares 32.50 32.50 -
Earnings Per Share before unusual items (Riyals) 10.58 14.89 40.7 %
EPS (Riyals) 10.08 14.89 47.7 %

The annual profit hike was driven by a 6.59% year-on-year (YoY) uptick in 2024 sales. Further, the company secured a gross profit margin of 35.73% by year-end, versus 35.55% in 2023, thanks to a healthy sales and channels mix, commercial cost optimization, and better operational efficiency.

 

In addition, financing revenues increased by SAR 16.98 million in 2024, due to investments in Murabaha and Sukuk. During the same year, SADAFCO recognized SAR 8 million in gains from the post-merger capital restructuring of Polish operations. Financing costs also decreased by SAR 12.02 million by year-end.

 

Meanwhile, in Q4 2024, net profit tumbled 57.8% to SAR 92 million, from SAR 218.74 million in the prior-year period.

 

On a quarterly basis, the three-month bottom line shed 32.9% from SAR 137.5 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 687.89 733.21 6.6 %
Gross Income 232.93 257.95 10.7 %
Operating Income 218.28 86.45 (60.4 %)
Net Income 218.74 92.30 (57.8 %)
Average Shares 32.50 32.50 -
Earnings Per Share before unusual items (Riyals) 6.60 2.84 (56.9 %)
EPS (Riyals) 6.73 2.84 (57.8 %)

Total shareholders’ equity, after minority interest, plummeted to SAR 1.8 billion by the end of 2024, compared to SAR 1.9 billion in 2023.

 

Attached Document:

 

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