Latest news with #Argaam
Argaam
5 days ago
- Business
- Argaam
Jamjoom Pharma ups profit margin forecast to 33%: CEO
Tarek Youssef Hosny, CEO of Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma), said he expects the company to continue growth and achieve added value, saying that the forecast for the EBITDA margin for 2025 was raised to a range between 31.5-33%, from previous estimates of 30-31.5%, following the company's performance in the first half of the year. In an interview with Argaam, the top executive said that Jamjoom Pharma maintained its exceptional performance during H1 2025, attributing the continued growth to the strong momentum achieved in the first quarter, reflecting the resilience of its strategy in a dynamic operating environment, by focusing on strategic brands, improved operational efficiency, and disciplined cost management. He indicated that enhanced operational efficiency in research and development, manufacturing, and distribution contributed to boost profitability while maintaining a commitment to innovation and quality, adding that the company also continued to strengthen its key partnerships, launch new products, and continue its sustainability efforts. Meanwhile, the company's sales witnessed strong momentum across key markets during H1 2025. The Saudi market continued to drive growth, with revenues rising by 20.6% to SAR 577.8 million, accounting for more than two-thirds of the company's total revenue. Gulf markets accounted for SAR 107.7 million, led by the UAE and Oman, while sales in the Iraqi market grew by 27.3% to SAR 83.2 million, according to the top executive. He also highlighted that revenue from the Egyptian market grew by 12.8% in Egyptian pound, but declined when converted to Saudi riyals due to the depreciation of the Egyptian pound. Meanwhile, revenue from other export markets amounted to SAR 48.4 million, down 10% due to regional tensions in Jordan and Lebanon. However, export growth in Morocco and Libya helped mitigate the negative impact. Hosny also stated that the company is currently re-evaluating its distribution channels to ensure margin sustainability and achieve lower-risk growth in those markets. The company's H1 revenue was backed by several therapeutic areas, most notably general medicine, which grew by 37.7%. The ophthalmology and dermatology segments together accounted for 43.1% of topline. The diabetes drug portfolio grew by 71.5%, while cardiovascular treatments saw a 31.1% increase in sales, he added. Total production at the company's three plants reached 86 million units during H1, topped by the Jeddah plant with 68 million units at a utilization rate of 90.5%. Production at the Egypt plant grew by 54.1%, reaching 14 million units. The new sterile products plant in Jeddah continued its expansion, doubling its annual output to 4 million units with a utilization rate of 32.2%, which supported supplies in ophthalmology and sterile product segments, according to the CEO. As regards the Algeria project, Hosny said the project contributed SAR 6.5 million to H1 profit, as part of the company's expansion strategy in North Africa, while leveraging local manufacturing to enhance efficiency and reduce costs. He noted that this provides a solid platform for future expansion into neighboring North and West African markets. He also highlighted that the company will continue expanding into high-value therapeutic areas, accelerating regional expansion initiatives, and strategically investing in research and development and business alliances, especially in its core focus areas, with disciplined spending and a scalable platform.
Argaam
22-07-2025
- Business
- Argaam
Al Othaim says related-party deals reach 1% of annual revenue
Abdullah Al Othaim Markets Co. said its ongoing deal with subsidiary Mueen Human Resources Co. reached 1% of total revenue, based on the latest audited annual results. The labor supply contract runs for two years, renews automatically, and has a variable value assessed annually based on the company's requirements. The company said the deal is part of its ordinary course of business, carried out under standard commercial terms, and disclosed in line with Article 65, paragraph 11, of the Securities Offering and Ongoing Obligations Rules. According to Argaam estimates, 1% of Al Othaim's 2024 revenue is about SAR 107.2 million, from total revenue of SAR 10.7 billion.
Argaam
22-07-2025
- Business
- Argaam
Apple launches online store in Saudi Arabia
Apple on Tuesday expanded its retail presence in Saudi Arabia with the launch of its online store and Apple Store app, marking the company's first direct support in the Arabic language. In a statement, Apple said customers in Saudi Arabia can now shop the full range of Apple products and receive direct support from Apple team members. Deirdre O'Brien, Apple's Senior Vice President of Retail, said the company is offering customers a new way to explore and purchase its full lineup of products and services. Apple revealed in December that it would expand in Saudi Arabia, starting with the launch of its online store in summer 2025, according to Argaam data. The company also plans to open its first physical Apple Store in the Kingdom in 2026.
Argaam
17-07-2025
- Business
- Argaam
Q2 2025: Key events shaping Saudi retail sector
Shopping cart In this report, Argaam sheds light on the significant events that may affect the performance of companies in discretionar
Argaam
10-07-2025
- Business
- Argaam
Saudi industrial services sector abundant with opportunities for Russian investors: Official
Shaaf Al-Osaymi, member of the Executive Committee of the Saudi-Russian Business Council, stated that there are abundant opportunities for Russian investors to seize in the services sector that supports the broader industrial field, particularly in emerging and advanced industries such as the mining sector, which requires growth-focused supporting services. In an interview with Argaam on the sidelines of the Saudi-Russian Roundtable Meeting in Moscow, Al-Osaymi highlighted that Russia is a key partner for the Kingdom, especially in the field of food security, as it is one of the largest producers of agricultural products, which aligns with the Kingdom's strategies for achieving sustainable food security. The roundtable discussed potential investment opportunities between the two sides, both within the Kingdom and in Russia, he added. Al-Osaymi affirmed that there are promising opportunities between the two countries, particularly as both sides operate in similar sectors stemming from the oil and gas industry, such as oil production, gas, petrochemicals, and mining, including gold and base metals, in addition to other sectors. Saudi Arabia offers diverse opportunities for Russian investors in fields such as industry, technology, technology transfer, cybersecurity, as well as in the construction sector and the execution of mega projects, he further said. Al-Osaymi also indicated that these pivots were also discussed during the economic forum held two days ago in Yekaterinburg, in the presence of Minister of Industry and Mineral Resources and a Saudi delegation of over 130 participants from both the public and private sectors. He highlighted that among the main challenges facing cooperation between the two sides are language barriers and differences in standards and specifications, as Saudi Arabia heavily relies on international standards, whereas Russia has its own unique standards and specifications, which can create obstacles when qualifying Russian entities to operate in the Kingdom.
