Takween announces 66% decline in 2024 net losses, 39% of capital accumulated losses
Riyadh – The net losses of Takween Advanced Industries Company shrank by 66.04% to SAR 75.83 million in 2024 compared to SAR 223.33 million in 2023.
The loss per share decreased to SAR 1.05 in 2024 from SAR 4.09 a year earlier, according to a bourse filing.
Takween generated revenue worth SAR 671.73 million in 2024, which was 17.90% lower than SAR 818.16 million in 2023.
Accumulated Losses
As of 31 December 2024, the accumulated losses of Takween stood at SAR 298.35 million.
The amount represented 39.02% of the SAR 764.64 million capital.
It is worth noting that the industrial company increased its capital in 2024 from SAR 300 million after it had obtained the regulatory approval from the Capital Market Authority (CMA).
Source: Mubasher
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