Tadawul trading screen
Aggregate Net Profit Since 2023* (SAR bln) 
Period
Saudi Market (TASI)
Change (%)
TASI ex-Aramco
Change (%)
2023
Q1
147.81
(21%)
30.34
(31%)
Q2
143.38
(35%)
34.50
(28%)
Q3**
157.37
(19%)
33.83
(13%)
Q4***
126.79
(17%)
23.93
(13%)
2024
Q1
136.34
(8%)
32.98
+9%
Q2
147.21
+3%
41.05
+19%
Q3
141.01
(10%)
43.39
+28%
Q4
130.76
+3%
44.01
+84%
*Including SAR 16.5 bln from exceptional gains
TheQ4 2024financial results includedone-time net gainsofSAR16.5 billion, consisting ofSAR11.6 billionfrom the distribution of Almarai ownership to Savola shareholdersand SAR1.2 billionin additional provisions related toClariant, a subsidiary ofSABIC.Moreover, SAR12.9 billiongains includedfrom the sale of the telecommunications tower company owned bystc.The results also included SAR5.69 billionin losses from recording non-recurring expenses related to the final settlement ofSaudi Electricity Co.Excluding these exceptional items, theaggregatenet profitsof listed companies (excluding Aramco) grew by11%, reaching SAR27.51 billion. However, total market profits declined by11%.
Financial Results ex-One-offs – SAR bln
Item
Q4 2023
Q4 2024
Change %
Aggregate Profits
127.69
114.26
(11%)
Aggregate Profits ex-Aramco and One-offs
24.83
27.51
+11%
On results, 23 firms turned to profit, 89 companies posted higher earnings while 54 others reported declines.
Fifty five companies recorded losses, of which 24 swung to losses compared to Q4 2023.
Sector-wise, the energy sector contributed the largest portion of aggregate net profit in Q4 2024, with more than 66.4% after its profit fell by about 5% YoY to reach SAR 86.79 billion. The fall was due to the decline in Saudi Aramco’s Q4 profit by 16% YoY, in addition to the losses recorded by Petro Rabigh.
The banking sector took the second position, with 16% of the market’s aggregate profit. The sector’s profit rose 21% YoY to SAR 20.94 billion, amid collective growth in bank profits, driven by the rise in net special commission income.
The telecommunications sector ranked third, accounting for 11.3% of Tadawul’s aggregate profit, with about SAR 14.77 billion profit, up nearly fivefold YoY backed by the rise in profit of stc, whose earnings included SAE 12.89 billion profit from the sale of TAWAL.
The food sector came fourth, with a 115% YoY surge in profits to about SAR 10.47 billion as Savola’s earnings included profits of SAR 11.55 billion from the distribution of Almarai’s ownership to the company’s shareholders.
The public utilities recorded losses of SAR 7.13 billion on SEC’s higher losses.
The materials sector incurred losses of SAR 1.01 billion, due to SABIC’s losses that amounted to about SAR 1.89 billion.
Tadawul trading screen
Aggregate Net Profit Since 2023* (SAR bln)
Period
Saudi Market (TASI)
Change (%)
TASI ex-Aramco
Change (%)
2023
Q1
147.81
(21%)
30.34
(31%)
Q2
143.38
(35%)
34.50
(28%)
Q3**
157.37
(19%)
33.83
(13%)
Q4***
126.79
(17%)
23.93
(13%)
2024
Q1
136.34
(8%)
32.98
+9%
Q2
147.21
+3%
41.05
+19%
Q3
141.01
(10%)
43.39
+28%
Q4
130.76
+3%
44.01
+84%
*Including SAR 16.5 bln from exceptional gains
TheQ4 2024financial results includedone-time net gainsofSAR16.5 billion, consisting ofSAR11.6 billionfrom the distribution of Almarai ownership to Savola shareholdersand SAR1.2 billionin additional provisions related toClariant, a subsidiary ofSABIC.Moreover, SAR12.9 billiongains includedfrom the sale of the telecommunications tower company owned bystc.The results also included SAR5.69 billionin losses from recording non-recurring expenses related to the final settlement ofSaudi Electricity Co.Excluding these exceptional items, theaggregatenet profitsof listed companies (excluding Aramco) grew by11%, reaching SAR27.51 billion. However, total market profits declined by11%.
Financial Results ex-One-offs – SAR bln
Item
Q4 2023
Q4 2024
Change %
Aggregate Profits
127.69
114.26
(11%)
Aggregate Profits ex-Aramco and One-offs
24.83
27.51
+11%
On results, 23 firms turned to profit, 89 companies posted higher earnings while 54 others reported declines.
Fifty five companies recorded losses, of which 24 swung to losses compared to Q4 2023.
Sector-wise, the energy sector contributed the largest portion of aggregate net profit in Q4 2024, with more than 66.4% after its profit fell by about 5% YoY to reach SAR 86.79 billion. The fall was due to the decline in Saudi Aramco’s Q4 profit by 16% YoY, in addition to the losses recorded by Petro Rabigh.
The banking sector took the second position, with 16% of the market’s aggregate profit. The sector’s profit rose 21% YoY to SAR 20.94 billion, amid collective growth in bank profits, driven by the rise in net special commission income.
The telecommunications sector ranked third, accounting for 11.3% of Tadawul’s aggregate profit, with about SAR 14.77 billion profit, up nearly fivefold YoY backed by the rise in profit of stc, whose earnings included SAE 12.89 billion profit from the sale of TAWAL.
The food sector came fourth, with a 115% YoY surge in profits to about SAR 10.47 billion as Savola’s earnings included profits of SAR 11.55 billion from the distribution of Almarai’s ownership to the company’s shareholders.
The public utilities recorded losses of SAR 7.13 billion on SEC’s higher losses.
The materials sector incurred losses of SAR 1.01 billion, due to SABIC’s losses that amounted to about SAR 1.89 billion.
