Saudi Savola's Q2 net profit drops 22% amid lower associate contributions
The result came in below analysts' average estimate of SAR 114 million, according to data from LSEG.
In 2024, Savola undertook several one-off transactions — including a rights issue, capital reduction, distribution of its stake in Almarai, debt repayment, and the divestment of its Iran operations.
Excluding the impact of these transactions from the prior-year quarter, the company said the current quarter's net profit represents an improvement of SAR 112 million over a net loss of SAR 6.3 million in Q2 2024.
Revenue for the quarter rose 18% YoY to SAR 6.06 billion, driven by stronger sales in the retail segment.
For the first half of 2025, Savola posted a net profit of SAR 295 million, marking a 39% decline from the same period last year, excluding the share of profit from Almarai.
(Writing by Brinda Darasha; editing by Bindu Rai)
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