Arabica Star’s 2024 profit declines 8% to SAR 4.4M; H2 at SAR 2.7M

Arabica Star’s 2024 profit declines 8% to SAR 4.4M; H2 at SAR 2.7M

18/03/2025 Argaam Exclusive

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Arabica Star Co. recorded a net profit of SAR 4.4 million for 2024, a decrease of 8% from SAR 4.7 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 61.51 54.19 (11.9 %)
Gross Income 14.06 14.12 0.4 %
Operating Income 7.90 6.29 (20.4 %)
Net Income 4.72 4.37 (7.6 %)
Average Shares 1.10 1.38 25.0 %
Earnings Per Share before unusual items 4.29 3.18 (26.1 %)
EPS (Riyals) 4.29 3.18 (26.1 %)

The annual net profit was weighed down by lower revenue on economic changes, inflation rates, as well as higher raw material and operating costs, which directly affected product prices and the purchasing power of some clients.

 

Additionally, as clients have become more price-sensitive, they preferred promotions and discounts.

 

The net profit decline was also attributed to fierce competition, as the coffee sector expanded with the entry of new brands and the development of specialty coffee concepts.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 32.15 26.16 (18.6 %)
Gross Income 10.03 7.50 (25.2 %)
Operating Income 6.38 3.50 (45.2 %)
Net Income 4.66 2.66 (42.9 %)
Average Shares 1.10 1.38 25.0 %
Earnings Per Share before unusual items 4.23 1.93 (54.3 %)
EPS (Riyals) 4.23 1.93 (54.3 %)

On the other hand, operating expenses declined.

 

The second-half net earnings dipped 43% to SAR 2.7 million from SAR 4.7 million in H2 2023.

 

Net earnings, however, jumped 55.9% from SAR 1.7 million in H1 2024.

 

Total shareholders’ equity, no minority interest, rose to SAR 39.21 million as of Dec. 31, 2024, compared to SAR 20.05 million a year earlier.

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