Financial Results : Anaam posts 99% profit drop to SAR 103,000 in 2024; Q4 at SAR 4M

Anaam posts 99% profit drop to SAR 103,000 in 2024; Q4 at SAR 4M

25/03/2025 Argaam Exclusive

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Anaam International Holding Group’s net earnings dropped to SAR 103,000 by the end of 2024, versus SAR 12.1 million in the year before.



Financials (M)

Item 2023 2024 Change‬
Revenues 51.16 43.88 (14.2 %)
Gross Income 32.86 25.94 (21.1 %)
Operating Income 8.57 (4.02) (146.9 %)
Net Income 12.14 0.10 (99.2 %)
Average Shares 31.50 31.50 -
Earnings Per Share before unusual items (Riyals) 0.52 0.01 (98.0 %)
EPS (Riyal) 0.39 0.00 (99.2 %)

The annual profit decline was due to lower revenues, increased general and administrative expenses, and weaker profits from real estate investments at fair value.

 

In Q4 2024, Anaam also posted a 33.9% profit slump to SAR 4 million, against SAR 6 million a year earlier.

 

Sequentially, however, the company reversed losses of SAR 8.05 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 14.09 9.45 (32.9 %)
Gross Income 9.68 5.28 (45.4 %)
Operating Income 0.05 (8.04) (16673.6 %)
Net Income 5.99 3.96 (33.9 %)
Average Shares 31.50 31.50 -
Earnings Per Share before unusual items (Riyal) 0.36 0.13 (65.2 %)
EPS (Riyal) 0.19 0.13 (33.9 %)

Shareholders’ equity, excluding minority interest, contracted to SAR 267.21 million by the end of 2024, compared to SAR 272.74 million a year ago.

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