Zahrat Al Waha 2024 net profit drops 64% to SAR 12.1M; Q4 at SAR 5.9M

Zahrat Al Waha 2024 net profit drops 64% to SAR 12.1M; Q4 at SAR 5.9M

20/03/2025 Argaam Exclusive

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Zahrat Al Waha for Trading Co. reported a net profit of SAR 12.1 million in 2024, a 64% decline year-on-year (YoY) from SAR 33.87 million.



Financials (M)

Item 2023 2024 Change‬
Revenues 572.49 544.69 (4.9 %)
Gross Income 70.45 60.61 (14.0 %)
Operating Income 49.15 33.31 (32.2 %)
Net Income 33.87 12.08 (64.3 %)
Average Shares 22.50 22.50 -
Earnings Per Share before unusual items 1.51 0.59 (61.1 %)
EPS (Riyals) 1.51 0.54 (64.3 %)

This was driven by a 4.86% decline in sales, a 31.8% increase in selling and distribution expenses, higher transportation expenses and customers’ discount.

 

The company also cited increased general and administrative expenses, higher provisions for expected credit losses on trade receivables, a 19.8% increase in cost of finance and lower gains from revaluation of investments at fair value through profit or loss.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 108.77 115.77 6.4 %
Gross Income 25.74 16.60 (35.5 %)
Operating Income 19.37 10.73 (44.6 %)
Net Income 16.95 5.85 (65.5 %)
Average Shares 22.50 22.50 -
Earnings Per Share before unusual items 0.75 0.26 (65.5 %)
EPS (Riyals) 0.75 0.26 (65.5 %)

Q4 2024 net profit dropped 65% to SAR 5.9 million, from SAR 16.95 million in Q4 2023.

 

Sequentially, net profit increased 44.3% from SAR 4.06 million in Q3 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 297.87 million by Dec. 31, 2024, compared to SAR 316.10 million a year earlier.

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