Financial Results : Takween narrows 2024 loss to SAR 75.8M; Q4 at SAR 50M

Takween narrows 2024 loss to SAR 75.8M; Q4 at SAR 50M

30/03/2025 Argaam Exclusive

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Takween Advanced Industries Co.’s net loss amounted to SAR 75.8 million in 2024, down from SAR 223.3 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 818.16 671.74 (17.9 %)
Gross Income 0.90 71.34 7852.7 %
Operating Income (154.71) (25.27) 83.7 %
Net Income (223.33) (75.84) 66.0 %
Average Shares 57.86 76.46 32.2 %
Earnings Per Share before unusual items (Riyals) (3.86) (0.99) 74.3 %
EPS (Riyal) (3.86) (0.99) 74.3 %

This was attributed to higher gross profits and a decline in administrative, selling, marketing, and distribution expenses for 2024. In addition, during the same year, financing costs weakened while other revenues increased.

 

However, Takween’s 2024 top-line tumbled to SAR 671.7 million, compared to SAR 818.2 million in 2023. This was primarily due to the reduced sales volumes on the discontinuation of some non-strategic activities and products, as well as adjustments to the pricing policy.

 

The company also cut its Q4 2024 net loss to SAR 50 million, from SAR 137.2 million in the same period a year earlier.

 

Takween had posted a loss of SAR 17.66 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 173.23 142.87 (17.5 %)
Gross Income (27.68) 6.94 125.1 %
Operating Income (117.65) (39.27) 66.6 %
Net Income (137.20) (50.01) 63.6 %
Average Shares 57.86 76.46 32.2 %
Earnings Per Share before unusual items (Riyal) (2.37) (0.65) 72.4 %
EPS (Riyal) (2.37) (0.65) 72.4 %

Total shareholders’ equity, no minority interest, increased to SAR 391.63 million as of Dec. 31, 2024, from SAR 203.75 million a year earlier.

 

By year-end, accumulated losses reached 39.02% of Takween’s capital, given the SAR 15.5 million increase in provisions for doubtful debts, with the company also incurring SAR 55.59 million in financing costs.

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