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ALMARAI-
Almarai’s net income rose 6% y-o-y to SAR 731.2 mn in 1Q 2025, according to an earningsrelease (pdf). Despite higher energy costs, growth was attributed to gains in the dairy & juice, bakery, and poultry segments, along with higher capitalized interest due to capital investments. However, the dairy giant’s income growth fell short of analysts’ expectations at SAR 746.3 mn.
Meanwhile, revenues rose 6% y-o-y to SAR 5.8 bn over the same period, driven by strong volume growth and improved performance during Ramadan, particularly in the fresh dairy, juice, and poultry categories — though the EGP devaluation slightly tempered it.
On a quarterly basis, Almarai’s net income surged 70% q-o-q up from SAR 430.7 mn in 4Q 2024, while revenues saw a 12% q-o-q increase from SAR 5.2 bn in 4Q 2024.
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 prices. 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.
JARIR MARKETING-
Tadawul-listedJarir Marketing reported a net income of SAR 217.3 mn in 1Q 2025, down 0.9% y-o-y, it said in a disclosure to Tadawul. The dip was linked to increased selling and marketing expenses which outweighed the firm’s higher sales and other income. The result fell short of analyst expectations which saw Jarir’s net income reaching SAR 236.5 mn.
Meanwhile, revenues rose 2.7% y-o-y to SAR 2.7 bn, driven by higher sales in the smartphones and after-sales services segments.
On a quarterly basis, net income fell 21.1% q-o-q down from SAR 275.3 mn in 4Q 2024, while revenues decreased 5% q-o-q down from SAR 2.9 bn in 4Q 2024 due to weaker overall sales — particularly in smartphones — compounded by higher selling and marketing expenses.
