Amwaj 2024 profit plunges 60% to SAR 6.4M; H2 at SAR 2.2M

Amwaj 2024 profit plunges 60% to SAR 6.4M; H2 at SAR 2.2M

20/03/2025 Argaam Exclusive

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Amwaj International Co. reported a net profit of SAR 6.4 million in 2024, a 60% decline year-on-year (YoY) from SAR 16 million.



Financials (M)

Item 2023 2024 Change‬
Revenues 301.93 300.27 (0.5 %)
Gross Income 64.80 51.15 (21.1 %)
Operating Income 33.95 20.06 (40.9 %)
Net Income 15.96 6.36 (60.2 %)
Average Shares 6.00 6.00 -
Earnings Per Share before unusual items 2.66 1.06 (60.2 %)
EPS (Riyals) 2.66 1.06 (60.2 %)

This profit decline was mainly due to the restructuring of inventory and marketing mix to accommodate new technology, which has higher demand levels and Increased profit margins.

 

The addition of new products will positively impact sales and results for 2025 and will boost cash flow.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 147.04 141.62 (3.7 %)
Gross Income 37.24 22.22 (40.3 %)
Operating Income 19.90 7.20 (63.8 %)
Net Income 5.81 2.20 (62.0 %)
Average Shares 6.00 6.00 -
Earnings Per Share before unusual items 0.97 0.37 (62.0 %)
EPS (Riyals) 0.97 0.37 (62.0 %)

H2 2024 net profit dropped 62% YoY to SAR 2.2 million.

 

Sequentially, net earnings fell 46.9% from SAR 4.15 million in H1 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 130.46 million by Dec. 31, 2024, compared to SAR 129.69 million a year earlier.

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