Financial Results : Arabian Mills 2024 profit rises 7% to SAR 213.6M; Q4 at SAR 57.2M

Arabian Mills 2024 profit rises 7% to SAR 213.6M; Q4 at SAR 57.2M

17/03/2025 Argaam Exclusive

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Arabian Mills for Food Products Co. (Arabian Mills) reported a net profit of SAR 213.6 million for 2024, a 7% growth from SAR 200.3 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 862.08 973.94 13.0 %
Gross Income 425.01 454.95 7.0 %
Operating Income 306.27 295.12 (3.6 %)
Net Income 200.28 213.64 6.7 %
Average Shares 51.32 51.32 -
Earnings Per Share before unusual items (Riyals) 3.90 4.16 6.7 %
EPS (Riyal) 3.90 4.16 6.7 %

Revenue increased by 12.98% year-on-year (YoY) to SAR 973.94 million in 2024 as feed sales grew by 39.75%, bran segment (17.91%), and flour (4.02%). Together the three segments contributed SAR 111.86 million to revenues along with new products launches.

 

Gross profit increased by 7.04% YoY to SAR 454.94 million in 2024, mainly driven by revenue growth, efficiency and cost control.

 

The company also reported continuous improvement in product costs, as well as administrative and operating expenses to align with the scale of operations. It also cited decreased financing costs as a result of the company's efforts to reduce debt.

 


Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 234.03 264.81 13.2 %
Gross Income 128.39 124.48 (3.0 %)
Operating Income 83.96 73.03 (13.0 %)
Net Income 59.96 57.22 (4.6 %)
Average Shares 51.32 51.32 -
Earnings Per Share before unusual items (Riyal) 1.17 1.11 (4.6 %)
EPS (Riyal) 1.17 1.11 (4.6 %)

Q4 2024 net earnings fell 5% to SAR 57.2 million, from SAR 59.9 million in the prior-year period.

 

On a sequential basis, net profit grew 4.2% from SAR 54.9 million in Q3 2024.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 1.03 billion by Dec. 31, 2024, compared to SAR 822.96 million a year earlier.

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