Almunajem Q1 2025 profit drops 65% to SAR 40M

11/05/2025 Argaam Exclusive

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Almunajem Foods Co. reported a net profit of SAR 40 million for Q1 2025, falling 65% from SAR 114 million in the prior-year period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2024	Q1 2025	Change‬
Revenues	902.95	901.49	(0.2 %)
Gross Income	195.76	133.33	(31.9 %)
Operating Income	116.83	48.95	(58.1 %)
Net Income	114.00	40.03	(64.9 %)
Average Shares	60.00	60.00	-
Earnings Per Share before unusual items (Riyal)	1.90	0.67	(64.9 %)
EPS (Riyal)	1.90	0.67	(64.9 %)

Item	Q4 2024	Q1 2025	Change‬
Revenues	819.06	901.49	10.1 %
Gross Income	120.90	133.33	10.3 %
Operating Income	47.97	48.95	2.0 %
Net Income	60.32	40.03	(33.6 %)
Average Shares	60.00	60.00	-
Earnings Per Share before unusual items (Riyal)	1.01	0.67	(33.6 %)
EPS (Riyal)	1.01	0.67	(33.6 %)

Revenues fell 0.2% year-on-year (YoY) to SAR 901.5 million, mainly attributable to lower selling prices of the red & white meat category despite the increase in sales volumes across most categories.

Gross profit dropped 31.9% YoY to SAR 133.3 million, as a result of a decrease in gross profit margins for most of the categories, mainly red & white meat.

The company also cited a slight increase in operating expenses during Q1 2025 due to a rise in selling & distribution expenses and higher marketing expenses related to the Ramadan season.

Compared to the previous quarter, Q1 net earnings fell by 33.7% from SAR 60.30 million, mainly due to higher operating expenses.

Shareholders’ equity, no minority interest, rose to SAR 1.05 billion as of March 31, 2025, from SAR 1.04 billion a year earlier.

View More Financial Results

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	163.25	-	2.72	-	163.25	2.72
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	149.48	(8.4 %)	2.49	(23.48)	172.96	2.88
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	109.17	(27.0 %)	1.82	12.41	96.76	1.61
Q1 2020	75.67	-	1.26	-	75.67	1.26
Q2 2020	59.42	-	0.99	-	59.42	0.99
Q3 2020	66.80	-	1.11	10.25	56.55	0.94
Q4 2020	27.79	-	0.46	-	27.79	0.46
2020	229.68	110.4 %	3.83	10.25	219.43	3.66
Q1 2021	29.47	(61.1 %)	0.49	-	29.47	0.49
Q2 2021	37.99	(36.1 %)	0.63	-	37.99	0.63
Q3 2021	52.66	(21.2 %)	0.88	-	52.66	0.88
Q4 2021	45.98	65.5 %	0.77	-	45.98	0.77
2021	166.09	(27.7 %)	2.77	-	166.09	2.77
Q1 2022	97.56	231.1 %	1.63	-	97.56	1.63
Q2 2022	122.12	221.5 %	2.04	2.50	119.62	1.99
Q3 2022	53.62	1.8 %	0.89	-	53.62	0.89
Q4 2022	16.90	(63.2 %)	0.28	-	16.90	0.28
2022	290.20	74.7 %	4.84	2.50	287.70	4.80
Q1 2023	81.88	(16.1 %)	1.36	5.50	76.38	1.27
Q2 2023	57.56	(52.9 %)	0.96	-	57.56	0.96
Q3 2023	61.14	14.0 %	1.02	-	61.14	1.02
Q4 2023	81.62	383.1 %	1.36	-	81.62	1.36
2023	282.21	(2.8 %)	4.70	5.50	276.71	4.61
Q1 2024	114.00	39.2 %	1.90	-	114.00	1.90
Q2 2024	63.82	10.9 %	1.06	-	63.82	1.06
Q3 2024	40.51	(33.7 %)	0.68	-	40.51	0.68
Q4 2024	60.32	(26.1 %)	1.01	-	60.32	1.01
2024	278.65	(1.3 %)	4.64	-	278.65	4.64
Q1 2025	40.03	(64.9 %)	0.67	-	40.03	0.67

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	163.25	-	2.72	-	163.25	2.72
2018	149.48	(8.4 %)	2.49	(23.48)	172.96	2.88
2019	109.17	(27.0 %)	1.82	12.41	96.76	1.61
2020	229.68	110.4 %	3.83	10.25	219.43	3.66
2021	166.09	(27.7 %)	2.77	-	166.09	2.77
2022	290.20	74.7 %	4.84	2.50	287.70	4.80
2023	282.21	(2.8 %)	4.70	5.50	276.71	4.61
2024	278.65	(1.3 %)	4.64	-	278.65	4.64

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	2,482.24	-	383.93	-	161.99	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	2,497.35	0.6 %	411.87	7.3 %	184.38	13.8 %
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	2,419.06	(3.1 %)	334.65	(18.7 %)	104.03	(43.6 %)
Q1 2020	687.58	-	138.11	-	77.63	-
Q2 2020	602.41	-	126.89	-	61.62	-
Q3 2020	626.38	-	122.27	-	60.68	-
Q4 2020	622.09	-	100.28	-	30.96	-
2020	2,538.45	4.9 %	487.55	45.7 %	230.88	121.9 %
Q1 2021	628.06	(8.7 %)	97.44	(29.5 %)	33.21	(57.2 %)
Q2 2021	614.48	2.0 %	109.00	(14.1 %)	41.10	(33.3 %)
Q3 2021	654.99	4.6 %	119.60	(2.2 %)	55.44	(8.6 %)
Q4 2021	679.50	9.2 %	115.34	15.0 %	49.12	58.6 %
2021	2,577.02	1.5 %	441.37	(9.5 %)	178.88	(22.5 %)
Q1 2022	788.01	25.5 %	172.53	77.1 %	101.18	204.7 %
Q2 2022	712.48	15.9 %	195.96	79.8 %	121.75	196.2 %
Q3 2022	730.20	11.5 %	123.78	3.5 %	55.23	(0.4 %)
Q4 2022	747.84	10.1 %	90.99	(21.1 %)	23.88	(51.4 %)
2022	2,978.52	15.6 %	583.26	32.1 %	302.04	68.9 %
Q1 2023	901.96	14.5 %	155.71	(9.7 %)	81.73	(19.2 %)
Q2 2023	772.39	8.4 %	135.22	(31.0 %)	60.74	(50.1 %)
Q3 2023	810.88	11.0 %	134.91	9.0 %	64.66	17.1 %
Q4 2023	829.18	10.9 %	156.47	72.0 %	86.50	262.2 %
2023	3,314.40	11.3 %	582.31	(0.2 %)	293.64	(2.8 %)
Q1 2024	902.95	0.1 %	195.76	25.7 %	116.83	42.9 %
Q2 2024	826.29	7.0 %	133.13	(1.5 %)	59.02	(2.8 %)
Q3 2024	798.70	(1.5 %)	116.64	(13.5 %)	38.40	(40.6 %)
Q4 2024	819.06	(1.2 %)	120.90	(22.7 %)	47.97	(44.5 %)
2024	3,346.98	1.0 %	566.42	(2.7 %)	263.60	(10.2 %)
Q1 2025	901.49	(0.2 %)	133.33	(31.9 %)	48.95	(58.1 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	2,482.24	-	383.93	-	161.99	-
2018	2,497.35	0.6 %	411.87	7.3 %	184.38	13.8 %
2019	2,419.06	(3.1 %)	334.65	(18.7 %)	104.03	(43.6 %)
2020	2,538.45	4.9 %	487.55	45.7 %	230.88	121.9 %
2021	2,577.02	1.5 %	441.37	(9.5 %)	178.88	(22.5 %)
2022	2,978.52	15.6 %	583.26	32.1 %	302.04	68.9 %
2023	3,314.40	11.3 %	582.31	(0.2 %)	293.64	(2.8 %)
2024	3,346.98	1.0 %	566.42	(2.7 %)	263.60	(10.2 %)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	15.47 %	7.62 %	6.58 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	16.49 %	8.49 %	6.93 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	13.83 %	5.71 %	4.00 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	19.21 %	10.55 %	8.64 %
2020	19.21 %	10.55 %	8.64 %
Q1 2021	18.03 %	9.02 %	6.99 %
Q2 2021	17.22 %	8.14 %	6.09 %
Q3 2021	16.92 %	7.82 %	5.87 %
Q4 2021	17.13 %	8.34 %	6.45 %
2021	17.13 %	8.34 %	6.45 %
Q1 2022	18.87 %	10.35 %	8.56 %
Q2 2022	21.28 %	12.86 %	11.14 %
Q3 2022	20.88 %	12.56 %	10.89 %
Q4 2022	19.58 %	11.45 %	9.66 %
2022	19.58 %	11.45 %	9.66 %
Q1 2023	18.32 %	10.37 %	8.62 %
Q2 2023	16.04 %	8.22 %	6.49 %
Q3 2023	15.99 %	8.29 %	6.56 %
Q4 2023	17.57 %	9.96 %	8.35 %
2023	17.57 %	9.96 %	8.35 %
Q1 2024	18.77 %	11.04 %	9.48 %
Q2 2024	18.41 %	10.82 %	9.52 %
Q3 2024	17.93 %	10.10 %	8.94 %
Q4 2024	16.92 %	9.01 %	8.33 %
2024	16.92 %	9.05 %	8.33 %
Q1 2025	15.06 %	7.06 %	6.12 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	-	-	-
2016	-	-	-
2017	15.47 %	7.62 %	6.58 %
2018	16.49 %	8.49 %	6.93 %
2019	13.83 %	5.71 %	4.00 %
2020	19.21 %	10.55 %	8.64 %
2021	17.13 %	8.34 %	6.45 %
2022	19.58 %	11.45 %	9.66 %
2023	17.57 %	9.96 %	8.35 %
2024	16.92 %	9.05 %	8.33 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	20.09 %	12.60 %	11.00 %
Q2 2020	21.06 %	11.76 %	9.86 %
Q3 2020	19.52 %	11.21 %	9.03 %
Q4 2020	16.12 %	6.46 %	4.47 %
Q1 2021	15.51 %	6.73 %	4.69 %
Q2 2021	17.74 %	8.17 %	6.18 %
Q3 2021	18.26 %	9.81 %	8.04 %
Q4 2021	16.97 %	8.57 %	6.77 %
Q1 2022	21.89 %	14.04 %	12.38 %
Q2 2022	27.50 %	18.45 %	16.79 %
Q3 2022	16.95 %	8.91 %	7.34 %
Q4 2022	12.17 %	4.53 %	2.26 %
Q1 2023	17.26 %	10.01 %	8.47 %
Q2 2023	17.51 %	9.07 %	7.45 %
Q3 2023	16.64 %	9.12 %	7.54 %
Q4 2023	18.87 %	11.55 %	9.84 %
Q1 2024	21.68 %	13.98 %	12.63 %
Q2 2024	16.11 %	8.32 %	7.72 %
Q3 2024	14.60 %	6.06 %	5.07 %
Q4 2024	14.76 %	7.11 %	7.36 %
Q1 2025	14.79 %	6.73 %	4.44 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	60.00	-	-	8.99
Q2 2020	60.00	-	-	8.76
Q3 2020	60.00	-	-	8.41
Q4 2020	60.00	3.83	3.66	10.67
Q1 2021	60.00	3.06	2.89	11.17
Q2 2021	60.00	2.70	2.53	11.80
Q3 2021	60.00	2.47	2.47	12.68
Q4 2021	60.00	2.77	2.77	13.41
Q1 2022	60.00	3.90	3.90	15.04
Q2 2022	60.00	5.31	5.26	15.07
Q3 2022	60.00	5.32	5.28	14.72
Q4 2022	60.00	4.84	4.80	15.01
Q1 2023	60.00	4.58	4.44	16.37
Q2 2023	60.00	3.50	3.41	16.33
Q3 2023	60.00	3.62	3.53	16.10
Q4 2023	60.00	4.70	4.61	15.46
Q1 2024	60.00	5.24	5.24	17.36
Q2 2024	60.00	5.34	5.34	17.17
Q3 2024	60.00	5.00	5.00	17.85
Q4 2024	60.00	4.64	4.64	16.83
Q1 2025	60.00	3.41	3.41	17.50

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	-	-	-	-
2016	-	-	-	-
2017	60.00	2.72	2.72	8.88
2018	60.00	2.49	2.88	7.97
2019	60.00	1.82	1.61	7.73
2020	60.00	3.83	3.66	10.67
2021	60.00	2.77	2.77	13.41
2022	60.00	4.84	4.80	15.01
2023	60.00	4.70	4.61	15.46
2024	60.00	4.64	4.64	16.83

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	20.99	20.99	4.33
Q1 2022	15.63	15.63	4.06
Q2 2022	11.10	11.19	3.91
Q3 2022	12.97	13.07	4.69
Q4 2022	12.69	12.80	4.09
Q1 2023	12.72	13.10	3.55
Q2 2023	18.72	19.22	4.01
Q3 2023	19.37	19.87	4.36
Q4 2023	15.67	15.98	4.77
Q1 2024	20.46	20.46	6.18
Q2 2024	19.61	19.61	6.10
Q3 2024	24.00	24.00	6.72
Q4 2024	20.63	20.63	5.69
Q1 2025	25.50	25.50	4.97

Period	P/E	Adjusted P/E	Price/book
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	20.99	20.99	4.33
2022	12.69	12.80	4.09
2023	15.67	15.98	4.77
2024	20.63	20.63	5.69

Business Segments (Million)

Compared With The

Period	Wholesale goods-in-transit& food services	Retail goods-in-transit	Storage rent revenue
Q1 2020	401.89	284.09	1.60
Q2 2020	304.78	295.59	2.04
Q3 2020	384.57	239.88	1.93
Q4 2020	392.00	228.55	1.54
Q1 2021	348.08	278.34	1.63
Q2 2021	378.14	234.31	2.04
Q3 2021	421.05	231.70	2.24
Q4 2021	442.62	234.47	2.40
Q1 2022	458.20	326.49	3.32
Q2 2022	421.01	288.15	3.31
Q3 2022	427.49	299.79	2.92
Q4 2022	442.14	303.20	2.50
Q1 2023	485.63	412.86	3.48
Q2 2023	492.04	276.47	3.88
Q3 2023	484.79	323.02	3.06
Q4 2023	515.97	310.21	3.00
Q1 2024	478.62	421.70	2.63
Q2 2024	507.05	315.91	3.33
Q3 2024	472.35	323.22	3.12
Q4 2024	487.41	328.72	2.92
Q1 2025	457.75	439.23	4.51

Period	Wholesale goods-in-transit& food services	Retail goods-in-transit	Storage rent revenue
2019	1,543.80	867.45	7.81
2020	1,483.24	1,048.11	7.10
2021	1,589.88	978.83	8.31
2022	1,748.94	1,217.54	12.04
2023	1,978.42	1,322.57	13.42
2024	1,945.42	1,389.56	12.00

Analysts Estimates (Million)

Item	Profit (Expected)	Profit (Actual)	Change
Average	61.30	40.03	(34.7 %)

Estimates vs Actual (Million)

Item	Profit (Expected)	Profit (Actual)	Change‬
AlJazira Capital	60.60	40.03	(51.4) %
Al Rajhi Capital	62.00	40.03	(54.9) %

Financial Ratios

	Current
Market Cap (M Riyal)	4,437.00
Enterprise Value (EV) (M)	4,491.02
Shares Outstanding ((M))	60.00
EPS ( Riyal) (TTM)	3.41
Book Value (BV) ( Riyal)	17.50
Par Value ( Riyal)	10.00
Recurring P/E	21.68
P/E (TTM)	21.68
Price/book	4.23
Return on Average Assets (%) (TTM)	10.9
Return on Average Equity (%) (TTM)	19.6
EV/adj EBITDA	18.53
EV/Revenues	1.31

Almunajem Foods Co. (ALMUNAJEM)

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Almunajem Q1 2025 profit drops 65% to SAR 40M

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Current Quarter Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2025 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Almunajem Foods Co. (ALMUNAJEM)

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Almunajem Q1 2025 profit drops 65% to SAR 40M

View other reports

Current Quarter Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2025

Revenue by Business Segment (Latest) 2025 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Almunajem Foods Co. (ALMUNAJEM)

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Business Segments (Million)