Showing 9 of 10
  • Saudi Flag
    FIRST LOOK NOTES
    22 Apr 2025
    Almarai Co
    BUY
    SAR 52.80
    SAR 65.00
    +23.11%

    Saudi Equity Research - Almarai Company 1Q25 - First Look Note

    Revenue grew 5.7% YOY to SAR 5,767 Mn, while gross profit grew 3.5% YOY to SAR 1,769 Mn in 1Q25. Almarai introduced more than 30 new products across its Bakery, Dairy, Juice, Food, and Foodservice segments in 2024, reflecting its continued focus on innovation and product expansion.
  • Saudi Flag
    FIRST LOOK NOTES
    29 Jan 2025
    Almarai Co
    ACCUMULATE
    SAR 58.70
    SAR 65.00
    +10.73%

    Saudi Equity Research - Almarai Company 4Q24 - First Look Note

    Revenue from the Dairy and Juice segment increased 5.8% YOY to SAR 3,311 Mn in 4Q24 driven by food & fresh dairy despite lower contribution from Egypt due to impact of devaluation.
  • Saudi Flag
    FIRST LOOK NOTES
    22 Oct 2024
    Almarai Co
    BUY
    SAR 56.10
    SAR 65.00
    +15.86%

    Saudi Equity Research - Almarai Company 3Q24 - First Look Note

    Strong revenue growth and a favourable product mix supported profitability
  • Saudi Flag
    FIRST LOOK NOTES
    18 Jul 2024
    Almarai Co
    HOLD
    SAR 60.00
    SAR 65.00
    +8.33%

    Strong growth in volume and cost control measures boosted the bottom line

    Almarai Company (“Almarai, “the Company”) recorded an 11.2% YOY increase in net profit to SAR 620 Mn in 2Q24, slightly lower than our estimate of SAR 640 Mn.
  • Saudi Flag
    FIRST LOOK NOTES
    25 Apr 2024
    Almarai Co
    BUY
    SAR 56.40
    SAR 65.00
    +15.25%

    Strong volume growth and pricing with a healthy product mix drove profitability

    Almarai Company (“Almarai, “the Company”) recorded a 9.0% YOY increase in net profit to SAR 692 Mn in 1Q24, higher than our estimate of SAR 612 Mn.
  • Saudi Flag
    FIRST LOOK NOTES
    05 Feb 2024
    Almarai Co
    HOLD
    SAR 57.70
    SAR 61.00
    +5.72%

    Lower commodity sales and EGP devaluation impacted the bottom line

    Almarai Company (“Almarai, “the Company”) recorded a 4.2% YOY increase in net profit to SAR 371 Mn in 4Q23, lower than our estimate of SAR 437 Mn.
  • Saudi Flag
    FIRST LOOK NOTES
    13 Oct 2023
    Almarai Co
    HOLD
    SAR 59.80
    SAR 61.00
    +2.01%

    Margins continue to lag topline growth impacting profit

    Almarai Company (“Almarai, “the Company”) recorded 5.0% YOY growth in net profit to SAR 486 Mn in 3Q23, lower than our estimate of SAR 560 Mn.
  • Saudi Flag
    FIRST LOOK NOTES
    20 Jul 2023
    Almarai Co
    REDUCE
    SAR 66.80
    SAR 61.00
    -8.68%

    Growth in volume, mix and pricing supported top-line and bottom-line expansion

    Almarai Company (“Almarai, “the Company”) recorded 7.1% YOY growth in net profit to SAR 557 Mn in 2Q23, in line with our estimate of SAR 561 Mn.
  • Saudi Flag
    FIRST LOOK NOTES
    25 Apr 2023
    Almarai Co
    HOLD
    SAR 57.20
    SAR 56.00
    -2.10%

    One-off gain, Ramadan advancement & strong revenue momentum boosted profit

    Almarai’s (ALMARAI/ the Company) net profit rose significantly 51.0% YOY to SAR 635 Mn in 1Q23, higher than our estimate of SAR 571 Mn.

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