BINDAWOOD-

BinDawood Holding’s net income inched up 1.9% y-o-y to SAR 280.2 mn in FY 2024, backed by an improved gross margin despite rising operating expenses, it said in an earnings release (pdf). Revenue was up 1.3% y-o-y at SAR 5.7 bn in the year, mainly on the back of the company’s SAR 186.5 mn takeover of Jumeirah Trading and healthier returns from its tech segment.

On a 4Q basis: BinDawood’s net income declined 10.8% y-o-y to SAR 109.7 mn in 4Q 2024, while revenues fell 1.8% y-o-y to SAR 1.4 bn. The company attributed its top line decline to its tech and retail segments which saw the closures of three stores.

Dividends: The company’s board approved distributing SAR 114.1 mn in dividends for FY 2024 at SAR 0.1 per share, set to be distributed on 29 May, it said in a disclosure to Tadawul.

REMEMBER- BinDawood and unnamed strategic partners are planning to invest SAR 1.5 bnfor expansion plans, which will see the firm roll out new e-commerce stores spanning 30k-50k sqm in several cities across the country, backed by smaller 2k-3k sqm distribution hubs.

ALDAWAA MEDICAL SERVICES-

Aldawaa Medical Services reported a 12.4% y-o-y increase in net income to SAR 370.1 mn in 2024, according to a disclosure to Tadawul. Revenue grew at a similar rate y-o-y to SAR 6.45 bn on the back of a significant expansion of the pharmacy business, a strong rise in distribution, and a 143% increase in logistics revenues.

In 4Q 2024, Aldawaa’s net income grew 12.4% y-o-y to SAR 103.8 mn, supported by higher gross income and expense control. Revenue increased 18.1% y-o-y to SAR 1.72 bn.

KINGDOM HOLDING-

Kingdom Holding saw its net income grow 22.1% y-o-y to SAR 1.24 bn in FY 2024, thanks to lower financial charges, tax reductions, cost savings, and gains from property sales, according to a disclosure to Tadawul. Meanwhile, revenue fell 11.6% y-o-y to SAR 2.39 bn, weighed down by lower dividend income and investment gains, despite higher hotel and other operating revenues.

ALSO- The BoD recommended a SAR 1 bn dividend distribution for 2024 at SAR 0.28 per share, it said in a separate disclosure. The distribution date has yet to be announced.

UNITED INTERNATIONAL TRANSPORTATION-

United International Transportation Company (Budget Saudi) saw its net income rise 12.4% y-o-y to SAR 311.7 mn in FY 2024, driven by improved fleet utilization and the integration of AutoWorld, according to a disclosure to Tadawul. Meanwhile, revenue was up 43% y-o-y at SAR 1.97 bn during the year, supported by fleet expansion and contributions from recent acquisitions, particularly frpom Overseas Development Company.

ALSO- The company will distribute SAR 78.2 mn in dividends for 2H 2024 at SAR 1 per share, it said in a separate disclosure. The distribution date has yet to be announced.

ARABIAN MILLS-

Arabian Mills’ net income rose 6.7% y-o-y to SAR 213.6 mn in FY 2024, according to a disclosure to Tadawul. Revenue grew 12.9% y-o-y to SAR 973.9 mn in the same period, supported by double-digit growth in wheat feed and bran, alongside steady flour performance.

YANBU CEMENT COMPANY-

Yanbu Cement’s net income grew 31% y-o-y to SAR 157.1 mn in FY 2024, on the back of lower selling and distribution expenses, and higher investment gains, it said in a disclosure to Tadawu l. Meanwhile, revenue grew 5.9% y-o-y to SAR 876.1 mn, as domestic growth offset foreign decline, boosting total production.

ALWASAIL INDUSTRIAL-

Alwasail Industrial’s net income grew 16.5% y-o-y to SAR 39.1 mn in FY 202, according to a disclosure to Tadawul. The company logged a 3.2% y-o-y increase in revenue during the same period to SAR 460.1 mn, buoyed by increased sales in the pipes and fitting segments.

ALSO- The company’s board recommended distributing SAR 12.5 mn in dividends for 2H 2024 at SAR 0.05 per share, it said in a separate disclosure. The distribution date has yet to be announced.

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