Alamar profit slumps 38% to SAR 35M in 2024; Q4 at SAR 20.7M

25/03/2025 Argaam Exclusive

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Alamar Foods Co. reported a net loss (before minority interest) of SAR 1.8 million for Q1 2025, narrowing from SAR 17.7 million in the year-earlier period.



Financials (M)

Item 2023 2024 Change‬
Revenues 991.66 891.57 (10.1 %)
Gross Income 293.00 257.96 (12.0 %)
Operating Income 73.88 35.97 (51.3 %)
Net Income 57.98 38.34 (33.9 %)
Average Shares 25.50 25.50 -
Earnings Per Share before unusual items (Riyals) 2.31 1.93 (16.4 %)
EPS (Riyal) 2.27 1.50 (33.9 %)

Net profit declined due to weaker sales due to ongoing regional geopolitical issues and currency devaluation in Egypt, as well as non-recurring costs of SAR 11 million recorded in the first quarter of 2024.

 

However, profitability improved significantly in the second half of the year, driven by targeted marketing and cost optimization initiatives, as well as a strategic shift toward more variable costs. These measures led to stronger margins and net profit surged by 305% year-over-year (YoY) in Q4 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 225.66 229.25 1.6 %
Gross Income 65.15 71.90 10.4 %
Operating Income 10.89 20.75 90.5 %
Net Income 6.06 20.68 241.6 %
Average Shares 25.50 25.50 -
Earnings Per Share before unusual items (Riyal) 0.28 0.81 192.0 %
EPS (Riyal) 0.24 0.81 241.6 %

Q4 2024 net earnings stood at SAR 20.7 million, compared to SAR 5.11 million in Q4 2023.

 

Sequentially, bottom line grew 8% from SAR 19.15 million in Q3 2024.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 301 million by Dec. 31, 2024, compared to SAR 323 million a year earlier.

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Share Price

Alamar Foods Co.
56.55
(0.10) (0.18 %)

Alamar Foods Co. (ALAMAR)

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Financial Ratios
Current
Market Cap (M Riyal) 1,442.03
Enterprise Value (EV) (M) 1,360.56
Shares Outstanding ((M)) 25.50
EPS ( Riyal) (TTM) 2.12
Book Value (BV) ( Riyal) 11.16
Par Value ( Riyal) 10.00
Recurring P/E 25.94
P/E (TTM) 26.66
Price/book 5.07
Return on Average Assets (%) (TTM) 8.1
Return on Average Equity (%) (TTM) 19.0
EV/adj EBITDA 8.60
EV/Revenues 1.52
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