Almarai: announced Q4-2022 financial results

Riyadh / SA. (ac) Almarai Company announced its consolidated financial results for the fourth quarter (Q4) and full year (FY) ended on 31 December 2022 (twelve months). The Company is pleased to report a strong performance for the year 2022 where positive revenue growth was observed in all product categories and in all geographies. Almarai expects this positive momentum to continue, albeit at a lower rate in the future as the Company enters a normalized consumption pattern after full opening of education institutions and resumption of tourism activities. The key risk remains surging cost inflation for dairy and feed commodities. Almarai continues to see parts of global supply chain remaining under stress although some areas are now showing signs of stability. Almarai will continue to manage this risk by better hedging activities and by leveraging its stock cover, where relevant.

Bakery Category developed well

Bakery net profit for Q4-2022 grew by 10.0 percent mainly driven by revenue growth of 29.3 percent as higher single serve product sales continued to positively impact the revenue mix. Bakery profit in FY-2022 grew by SAR 116.1 M as strong top line growth driven by back to school and improved single serve sales resulted in better utilization of existing facilities, driving higher profits for the category via leveraging economies of scale. Further details are available in the Company’s news release below (386 KB):