Financial Results : FADECO earnings shed 13% to SAR 5.2M in 2024; H2 at SAR 2.2M

FADECO earnings shed 13% to SAR 5.2M in 2024; H2 at SAR 2.2M

27/03/2025 Argaam Exclusive

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Arabian Food and Dairy Factories Co. (FADECO) reported a net profit of SAR 5.2 million in 2024, down 13% from SAR 6 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 62.19 61.15 (1.7 %)
Gross Income 28.77 30.08 4.6 %
Operating Income 6.07 5.90 (2.8 %)
Net Income 6.00 5.22 (13.0 %)
Average Shares 1.41 1.41 -
Earnings Per Share before unusual items (Riyals) 4.25 3.70 (13.0 %)
EPS (Riyal) 4.25 3.70 (13.0 %)

The annual profit decline was due to lower revenues in 2024. This came as FEDCO raised its promotional discounts, which weighed on its topline performance, alongside rising operating expenses.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 32.17 31.74 (1.3 %)
Gross Income 15.25 15.35 0.6 %
Operating Income 3.93 2.73 (30.4 %)
Net Income 3.91 2.20 (43.7 %)
Average Shares 1.41 1.41 -
Earnings Per Share before unusual items (Riyal) 2.77 1.56 (43.7 %)
EPS (Riyal) 2.77 1.56 (43.7 %)

In H2 2024, net earnings dropped 44% to SAR 2.2 million, from SAR 3.91 million in H2 2023.

 

Compared to H1 2024, the six-month bottom line fell 27% from SAR 3.02 million.

 

Shareholders’ equity, after minority interest, reached SAR 34.29 million by the end of 2024, inching up from SAR 31.71 million a year earlier.

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