Latest news with #Almarai
Zawya
5 days ago
- Business
- Zawya
Saudi Savola's Q2 net profit drops 22% amid lower associate contributions
Savola Group, Saudi Arabia's largest food products company, reported a 22% year-on-year (YoY) decline in net profit for Q2 2025 to 105.7 million riyals ($28 million), as reduced contributions from associates offset a decline in finance costs. 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)
Arab News
09-07-2025
- Business
- Arab News
Savola Group announces leadership transition
Savola Group, a strategic investment holding company in the food and retail sectors across the MENA region, has announced a leadership transition to further progress the group's strategic transformation. The board of directors accepted the resignation of Waleed Khalid Fatani from his position as CEO of Savola Group. The move is in line with the group's strategic transformational direction that focuses on the food sector, following a successful tenure marked by major milestones. These include the launch of a SR6 billion ($1.6 billion) rights issue to strengthen the group's capital position, as well as the distribution of Savola's entire stake in Almarai to its shareholders. Meanwhile, Sameh Mahmoud Hassan has been named the new Savola Group CEO based on the recommendation of the Remuneration and Nomination Committee. Hassan currently holds the position of the CEO of Savola Foods Company (a wholly owned subsidiary of Savola Group) since December 2018. He is a seasoned executive in the FMCG and food industries. He will continue to lead Savola Foods in addition to being group CEO. This leadership change reflects the group's continued evolution, with Savola Foods at the center of its future growth ambitions. Sulaiman A.K. Al-Muhaidib, chairman of Savola Group, said: 'The appointment of Sameh Hassan marks a new phase in Savola's journey as we focus our efforts on building a scaled and integrated food platform with regional and global ambitions. On behalf of the board, I thank Fatani for his leadership and contributions. With Hassan at the helm, Savola is well-positioned to accelerate its growth in the food sector while continuing to manage its broader portfolio in a value-maximizing manner.' Fatani said: 'It has been a privilege to lead Savola during this transformative period.' I am proud of what we have accomplished together — from the execution of value-enhancing transactions to laying the foundation for the future with Savola Foods at the center of its future growth ambitions. I am confident that Sameh Hassan will continue this momentum and take the group to even greater heights.' Incoming CEO Hassan said: 'It is an honor to take on the role of group CEO at this pivotal time. We will continue to build on Savola's heritage and strengths, driving sustainable growth in our food platform. I look forward to working closely with the board and our teams to execute this next chapter of our strategy.'
Zawya
07-07-2025
- Business
- Zawya
Saudi: Almarai sees 5% higher profits in H1-25; sales exceed SAR 11bn
Riyadh – Almarai Company logged net profits amounting to SAR 1.37 billion in the first half (H1) of 2025, an annual growth of 5.04% from SAR 1.31 billion. The revenue climbed by 4.16% year-on-year (YoY) to SAR 11.05 billion in H1-25 from SAR 10.61 billion, according to interim financial results. Earnings per share (EPS) increased to SAR 1.39 in the first six months (6M) of 2025 from SAR 1.33 in H1-24. Quarterly Results In the second quarter (Q2) of 2025, Almarai generated 4.38% YoY higher net profit at SAR 646.86 million, compared to SAR 619.69 million. The company's revenues surged by 2.59% to SAR 5.28 billion in Q2-25 from SAR 5.15 billion a year earlier. Quarter-on-quarter (QoQ), the Q2-25 net profit dropped by 11.53% in Q2-24 from SAR 731.19 million in Q1-25, while sales fell by 8.30% from SAR 5.76 billion. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Arab News
06-07-2025
- Business
- Arab News
Closing Bell: Saudi main index edges up to close at 11,315
RIYADH: Saudi Arabia's Tadawul All Share Index closed higher on Sunday, gaining 71.28 points, or 0.63 percent, to end the session at 11,315.73. Trading turnover for the day stood at SR4.32 billion ($1.15 billion), with 169 stocks advancing and 76 declining. The MSCI Tadawul Index also registered gains, rising 7.94 points, or 0.55 percent, to close at 1,451.40. Meanwhile, the parallel market, Nomu, edged down by 30.41 points, or 0.11 percent, to 27,257.09, with 32 stocks in the green and 43 in the red. ACWA Power Co. emerged as the session's top performer, with its shares surging 7.97 percent to SR265.60. Naseej International Trading Co. followed with a 6.60 percent rise to SR106.60, while Saudi Public Transport Co. climbed 5.64 percent to SR14.79. On the other hand, Sahara International Petrochemical Co. posted the steepest decline, falling 1.81 percent to SR19.50. Shares of Saudi Industrial Export Co. and Alistithmar AREIC Diversified REIT Fund also slipped, dropping 1.72 percent and 1.42 percent to SR2.29 and SR8.34, respectively. Meanwhile, Almarai Co. announced a net profit of SR646.8 million for the first half of 2025, marking a 4 percent year-on-year increase. The company attributed the improved results to a 3 percent growth in revenue, alongside disciplined cost control measures, a favorable product mix, and lower funding costs. Knowledge Economic City Co. signed a 25-year development and leasing agreement with Riyadh Schools Holding Co., a subsidiary of the Mohammed bin Salman Non-Profit Foundation, to build an educational complex in Madinah valued at SR399.3 million. The project will include a 20,000 sq. meter facility designed to accommodate 1,800 students, with lease payments starting at SR13.7 million in the first year and increasing progressively. The initiative is expected to support Madinah's educational development and bolster KEC's long-term financial sustainability and urban goals. Future Vision for Health Training Co. also announced a 24-month agreement with Aliens Zone LLC to develop a smart e-learning and training platform. The deal, valued at over 5 percent of the company's 2024 revenue, will cover system design, content development, and AI-driven training solutions. The platform is expected to launch in the fourth quarter of 2025 and is part of Future Vision's broader digital transformation strategy in line with Saudi Vision 2030.
Argaam
29-06-2025
- Business
- Argaam
Almarai shareholders elect new board members for new term
Almarai Co. 's shareholders approved to the amendment of Article (17) of the company's bylaws related to the board membership term, during the company's extraordinary general meeting (EGM), held on June 26, according to a statement to Tadawul. Shareholders also elected new board members for the four-year term starting August 7, 2025, including Prince Naif Al Kabeer, Suliman Al Muhaideb, Bader bin Abdullah, and Prince Saud Al Kabeer among others.
