SAVOLA contains historical profits in 2024 but the details reveal surprises

In a remarkable financial development, the SAVOLA Group announced a 9.97 billion Riyals profit for the year 2024, which is the highest profits the company recorded in more than two decades. These results, which reflect 1009% growth compared to 2023, are interesting; As the numbers analysis accurately reveals that most of these profits were driven by extraordinary and not -recurring factors of 9.47 billion Riyals, which puts the group’s financial image in a different context. Unemployed profits change the comparison when excluding exceptional items, the net profits of Safola shrink in 2024 to 505 million Riyals, which reflects a 44% decline from the previous year. This difference is attributed to a series of non -recreated factors that fundamentally influenced the results of the company, the most prominent: exit from Al -Marai Company: The group made exceptional profits of 11.3 billion Riyals as a result of the sale of its full share in the company. Customs duties: SAVOLA received 19.4 million Riyals as compensation from the food manufacturing sector. Exit from the Iranian market: The group delivered unexpected losses of 1.1 billion Riyals as a result of this step. Stop operations in Sudan: The suspension of operational activities there has led to losses of 300 million Riyals. Cancel the recognition of an investment in Egypt: The group recorded unexpected losses of 139 million Riyale after evaluating assets. Assets allocations: SAVOLA recorded a reduction in the value of its assets by 310.8 million Riyals. These particular factors, although it leads to a net profit, but they draw attention to the group’s operating performance of the group. Muhammad Bin Frehan, chairman of the Holding Professional Board of Director, said comments on these developments: ‘We see that after achieving extraordinary, free profits, SAVOLA has begun to focus on Die Burger of its power, especially in the retail and Frozen food sectors, with the retirement of the loss of external investments such as Iran, Morocco, Egypt. To strengthen sustainable profitability. Some assets and losses in the exchange rate, as well as the losses of its subsidiary. “However, the Sprehan believes that” SAVOLA has a strong board with the ability to compensate these losses and restore the business to the sustainable growth path, which does not make the situation worrying. “The following challenge: Keeping sustainable growth is a sustained growth, and the biggest challenge and not SAVOLA about extraordinary profits. Operating profit is the true measure of the strength of any business that the market will meet in the coming period.