Financial Results : Almuneef 2024 profit leaps 16% to SAR 20.5M; H2 at SAR 10.2M

Almuneef 2024 profit leaps 16% to SAR 20.5M; H2 at SAR 10.2M

20/03/2025 Argaam Exclusive

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Almuneef Co. for Trade, Industry, Agriculture and Contracting reported a net profit of SAR 20.5 million in 2024, a leap of 16% from SAR 17.6 million in the year-earlier period.



Financials (M)

Item 2023 2024 Change‬
Revenues 246.30 233.43 (5.2 %)
Gross Income 27.94 32.47 16.2 %
Operating Income 19.87 22.92 15.4 %
Net Income 17.58 20.48 16.5 %
Average Shares 38.00 38.00 -
Earnings Per Share before unusual items (Riyals) 0.46 0.54 16.5 %
EPS (Riyals) 0.46 0.54 16.5 %

This was driven by operational efficiency and cost reductions. However, sales fell 5% year-on-year (YoY) due to lower prices of the company's main products that were purchased during 2024.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 121.96 120.02 (1.6 %)
Gross Income 13.75 19.43 41.3 %
Operating Income 9.00 11.97 33.1 %
Net Income 7.04 10.22 45.2 %
Average Shares 38.00 38.00 -
Earnings Per Share before unusual items (Riyals) 0.19 0.27 45.2 %
EPS (Riyals) 0.19 0.27 45.2 %

Total shareholders’ equity, no minority interest, reached SAR 86.19 million by Dec. 31, 2024, compared to SAR 75.54 million in the year before.

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