Financial Results : Saudi Chemical profit rises 59% to SAR 291.2M in 2024; Q4 at SAR 54M

Saudi Chemical profit rises 59% to SAR 291.2M in 2024; Q4 at SAR 54M

04/03/2025 Argaam Exclusive

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Saudi Chemical Co. Holding (Saudi Chemical) reported a net profit of SAR 291.2 million in 2024, an increase of 59% from to SAR 182.9 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 4,854.85 6,375.30 31.3 %
Gross Income 672.66 875.20 30.1 %
Operating Income 317.34 436.50 37.5 %
Net Income 182.89 291.20 59.2 %
Average Shares 843.20 843.20 -
Earnings Per Share before unusual items (Riyals) 0.22 0.35 59.2 %
EPS (Riyals) 0.22 0.35 59.2 %

Revenue increased by SAR 1.5 billion year-on-year (YoY) due to higher sales volumes and a growth in operating profit.

 

This came despite higher general expenses, expected credit loss for trade receivables, a loss share from a joint venture and an increase in Zakat and tax provisions.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 1,408.86 1,761.70 25.0 %
Gross Income 216.62 255.19 17.8 %
Operating Income 118.67 81.06 (31.7 %)
Net Income 89.01 54.04 (39.3 %)
Average Shares 843.20 843.20 -
Earnings Per Share before unusual items (Riyals) 0.11 0.06 (39.3 %)
EPS (Riyals) 0.11 0.06 (39.3 %)

Q4 2024 net earnings dropped 39% to SAR 54 million from SAR 89.01 million in the year-earlier period.

 

On a sequential basis, net profit slumped 26% from SAR 72.99 million in Q3 2024.

Total shareholders’ equity, after minority interest, stood at SAR 2.09 billion by Dec. 31, 2024, compared to SAR 1.80 billion a year earlier.

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