Food giant Almarai’s net income increased 16.2% y-o-y to SAR 430.7 mn in 4Q 2024, while revenues rose 4.8% y-o-y to SAR 5.2 bn. The increase was driven by cost management and a rise in GCC sales across most products, particularly in food and fresh dairy, the company says.

A good year: Almarai wrapped up 2024 with a 12.9% y-o-y increase in net income to a record SAR 2.3 bn, and a 7.2% increase in revenues to SAR 21 bn, on the back of “the expansion of the products portfolio, sustained investment in consumer communication and continual focus on operational efficiency.”

ICYMI- S&P Global included Almarai among companies whose earnings and ratings are not expected to be significantly impacted by Saudi Aramco’s recent decision to hike feedstock and fuel price. Despite incurring an additional SAR 200 mn in costs throughout last year due to higher fuel prices and indirect impacts to its supply chain, the dairy producer’s rating is expected to stay level at BBB- in 2025, mitigating negative effects via efficiency gains and cost optimization.

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