Financial Results : Jarir profit rises slightly to SAR 974M in 2024; Q4 at SAR 275.4M

Jarir profit rises slightly to SAR 974M in 2024; Q4 at SAR 275.4M

30/01/2025 Argaam Exclusive

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Jarir Marketing Co. (Jarir) reported a net profit of SAR 974 million in 2024, a slight increase from SAR 973 million a year earlier.


Financials (M)

Item 2023 2024 Change‬
Revenues 10,594.92 10,830.90 2.2 %
Gross Income 1,275.93 1,324.50 3.8 %
Operating Income 1,045.10 1,052.80 0.7 %
Net Income 973.04 974.00 0.1 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.81 0.81 0.1 %

Gross sales increased 2.2% year-on-year (YoY), mainly due to higher sales in the smartphone segment, as well as the computers and tablets division.

 

Also, gross profit rose 3.8% YoY on improved profit margins of certain segments, led by smartphones as a result of discounts received from vendors.

 

However, the company reported higher selling and marketing expenses, administrative and general expenses, and non-operating costs.

 

Q4 2024 net earnings reached SAR 275.4 million, up 1% from SAR 273.2 million a year earlier.

 

On a sequential basis, net profit declined 10.7% from SAR 308.2 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 2,802.50 2,864.43 2.2 %
Gross Income 328.21 352.76 7.5 %
Operating Income 289.73 294.35 1.6 %
Net Income 273.19 275.36 0.8 %
Average Shares 1,200.00 1,200.00 -
EPS (Riyals) 0.23 0.23 0.8 %

Total shareholders’ equity, no minority interest, fell to SAR 1.74 billion by Dec. 31, 2024, compared to SAR 1.77 billion a year earlier.

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Quarterly Actuals vs Estimates 30/01/2025

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