Financial Results : Almunajem posts 60% profit drop to SAR 71M in H1 2025; Q2 at SAR 31M

Almunajem posts 60% profit drop to SAR 71M in H1 2025; Q2 at SAR 31M

10/08/2025 Argaam Exclusive

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Almunajem Foods Co. reported a net profit of SAR 71 million, down 60% from SAR 177.8 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 1,729.23 1,698.79 (1.8 %)
Gross Income 328.88 255.56 (22.3 %)
Operating Income 175.86 85.32 (51.5 %)
Net Income 177.82 71.02 (60.1 %)
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyals) 2.96 1.18 (60.1 %)
EPS (Riyal) 2.96 1.18 (60.1 %)

The six-month profit declined on lower revenues, as selling prices in the red meat and the poultry segments decreased due to price pressures, particularly in the frozen poultry market.

 

This came despite a rise in sales volumes across all categories.

 

Moreover, the six-month gross profit fell by 22.3% year-on-year (YoY) amid weaker profit margins, mainly in the red meat and the poultry business divisions.

 

Almunajem recorded an 11.2% increase in operating expenses (OpEx) on higher staff costs, as well as selling and distribution expenses. Financing costs also went up in H1 2025, due to higher capital expenditure.

 

Meanwhile, Almunajem recorded a profit share of SAR 6.5 million in H1 2025, compared to SAR -7.3 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 826.29 797.30 (3.5 %)
Gross Income 133.13 122.23 (8.2 %)
Operating Income 59.02 36.37 (38.4 %)
Net Income 63.82 30.99 (51.4 %)
Average Shares 60.00 60.00 -
Earnings Per Share before unusual items (Riyal) 1.06 0.52 (51.4 %)
EPS (Riyal) 1.06 0.52 (51.4 %)

In Q2 2025, Almunajem’s net earnings more than halved to SAR 31 million, from SAR 63.8 million in Q2 2024.

 

On a sequential basis, net earnings declined by 22.6% from SAR 40 million in Q1 2025.

 

Total shareholders’ equity, no minority interest, decreased to SAR 1.02 billion as of June 30, 2025, from SAR 1.03 billion a year earlier.

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