Financial Results : Hawyia Auctions 2024 profit falls 32% to SAR 25.1M

Hawyia Auctions 2024 profit falls 32% to SAR 25.1M

08/05/2025 Argaam Exclusive

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Hawyia Auctions Co., which is expected to list on the Nomu-Parallel Market, reported a net profit of SAR 25.1 million in 2024, down 32% from SAR 37.1 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 81.57 62.60 (23.2 %)
Gross Income 40.02 27.42 (31.5 %)
Operating Income 37.57 24.79 (34.0 %)
Net Income 37.08 25.09 (32.3 %)
Average Shares 20.00 20.00 -
Earnings Per Share before unusual items (Riyals) 1.85 1.25 (32.3 %)
EPS (Riyal) 1.85 1.25 (32.3 %)


Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues - 23.58 -
Gross Income - 10.06 -
Operating Income - 8.93 -
Net Income - 9.38 -
Average Shares - 20.00 -
Earnings Per Share before unusual items (Riyal) - 0.47 -
EPS (Riyal) - 0.47 -

Revenue fell 23% to SAR 62.6 million in 2024 from SAR 81.6 million in 2023, due to a 44% decline in auction revenue — albeit the segment remained the top contributor to the company’s 2024 topline, accounting for 63% of the total.

 

This was partially offset by a 49% year-on-year (YoY) increase in real estate marketing revenue for 2024, alongside a surge in estate liquidation revenue to SAR 8.8 million in 2024 from SAR 1.3 million in 2023.

 

Further, Hawyia Auctions’ gross margin declined to 44% in 2024 from 49% a year earlier, attributed to weaker revenues. Additionally, the operating margin dropped YoY to 40% from 46% in 2023.

 

EBITDA dropped to SAR 24.9 million in 2024 from SAR 37.6 million in 2023, as a result of lower revenue and margins.

 

Accordingly, the company’s 2024 net profit margin retreated to 40%, compared to 45% in 2023.

 

Total shareholders’ equity, no minority interest, stood at SAR 27.16 million as of Dec. 31, 2024, compared to SAR 25.87 million a year earlier.

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