Fitaihi earns SAR 14.5M in 2024, SAR 3.5M in Q4

Fitaihi earns SAR 14.5M in 2024, SAR 3.5M in Q4

23/03/2025 Argaam Exclusive

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Fitaihi Holding Group Co. posted a net profit of SAR 14.5 million by the end of 2024, up from SAR 5.2 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 45.72 42.10 (7.9 %)
Gross Income 20.76 17.24 (16.9 %)
Operating Income (5.76) (7.87) (36.7 %)
Net Income 5.21 14.52 178.7 %
Average Shares 275.00 275.00 -
Earnings Per Share before unusual items 0.02 0.05 178.7 %
EPS (Riyals) 0.02 0.05 178.7 %

The annual profit hike came as the company's share of an associate’s income leapt by 141.9% year-on-year (YoY) to SAR 17.9 million in 2024.

 

The ratio of dividends to equity instruments at fair value through comprehensive income also rose by 23.4% YoY to SAR 7.9 million for the same year.

 

Further, selling, distribution, administrative, general, and other expenses decreased by 5.2% to SAR 25.4 million in 2024, versus SAR 26.8 million in the previous year.

 

This came although sales contracted by 7.9% to SAR 42.1 million by year-end, compared to SAR 45.7 million in 2023. Zakat expenses also increased by 14.3% YoY to SAR 3.2 million in 2024.

 

In Q4 2024, the company posted net earnings of SAR 3.5 million, up 205.6% from SAR 1.16 million a year earlier.

 

Sequentially, net earnings more than tripled from SAR 910,000 in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 10.07 14.19 40.9 %
Gross Income 4.87 5.77 18.6 %
Operating Income (1.74) (0.98) 43.7 %
Net Income 1.16 3.54 205.6 %
Average Shares 275.00 275.00 -
Earnings Per Share before unusual items 0.00 0.01 205.6 %
EPS (Riyals) 0.00 0.01 205.6 %

Shareholders’ equity, no minority interest, inched up to SAR 476.62 million in 2024, from SAR 476.64 million a year earlier.

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