Financial Results : Sadirat deepens 2024 loss to SAR 19.6M; Q4 at SAR 7.2M

Sadirat deepens 2024 loss to SAR 19.6M; Q4 at SAR 7.2M

27/03/2025 Argaam Exclusive

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Saudi Industrial Export Co. (Sadirat) deepened its net losses to SAR 19.6 million in 2024, compared to SAR 15.6 million in the year-earlier period.



Financials (M)

Item 2023 2024 Change‬
Revenues 13.23 22.98 73.6 %
Gross Income (0.34) (2.95) (781.8 %)
Operating Income (24.39) (20.66) 15.3 %
Net Income (15.60) (19.57) (25.4 %)
Average Shares 194.40 194.40 -
Earnings Per Share before unusual items (Riyals) (0.08) (0.10) (25.4 %)
EPS (Riyal) (0.08) (0.10) (25.4 %)

The wider losses were due to a drop in realized gains from investments at fair value, paired with lower returns on bank deposits and the allocation of a Zakat provision.

 

This was despite a year-on-year (YoY) revenue hike amid contracting with new customers and a decline in general and administrative (G&A) expenses.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Operating Income (6.01) (4.62) 23.1 %
Net Income (4.63) (7.16) (54.7 %)
Average Shares 194.40 194.40 -
Earnings Per Share before unusual items (Riyal) (0.02) (0.04) (54.7 %)
EPS (Riyal) (0.02) (0.04) (54.7 %)

Q4 2024 net loss widened to SAR 7.16 million from SAR 4.63 million in the year-earlier period.

 

On a sequential basis, net earnings plunged by 115.6% from a SAR 3.32 million loss in Q4 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 124.94 million by Dec. 31, 2024, compared to SAR 144.44 million a year ago.

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