Savola Group Reports SAR 284.52M Net Profit in Three Months 2026
SAVOLA GROUP 2050.SA | 0.00 |
On 2026-05-06 08:03:27 (Saudi Time), Savola Group announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 7,292.16 | 7,281.03 | 0.152 | 6,553.08 | 11.278 |
| Gross Profit (Loss) | 1,402.1 | 1,377.57 | 1.78 | 1,283.32 | 9.255 |
| Operational Profit (Loss) | 421.71 | 361.36 | 16.7 | 264.2 | 59.617 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 284.52 | 189.16 | 50.412 | 194.04 | 46.629 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 190.16 | 176.52 | 7.727 | 268.29 | -29.121 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 5,708.44 | 4,798.75 | 18.956 |
| Profit (Loss) per Share | 0.96 | 0.63 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales remained essentially flat with a marginal 0.152% YoY increase to SAR 7,292.16 million, as revenue growth in Food Processing from higher edible oil and pasta volumes was offset by declines in Retail, Food Services, and Frozen Foods segments due to competitive market dynamics. Net profit surged 50.412% YoY to SAR 284.52 million, primarily driven by the Food Processing segment's improved performance with higher revenues, better margins, and enhanced cost efficiencies, plus a SAR 41 million non-recurring gain from Sudan operations disposal. Additional profit drivers included marginal improvements in the Retail segment, reduced losses in Food Services, lower net operating expenses, higher finance income, and reduced income tax expense.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 11.278% to SAR 7,292.16 million, driven primarily by seasonal consumption patterns that boosted performance across Food Processing, Retail, and Frozen Foods segments. Net profit rose 46.629% to SAR 284.52 million, mainly due to higher revenues and improved margins from seasonal patterns, enhanced cost efficiencies in Food Processing, and a non-recurring gain of SAR 41 million from Sudan operations disposal. The increase was partially offset by the non-recurrence of Q4 2025's net impairment reversal and the absence of a SAR 32 million gain from Turkey deconsolidation recorded in the previous quarter.
Other Items
The auditors issued an unmodified conclusion for the interim financial statements. An "Other Matter" paragraph noted that the comparative period's interim financial statements for March 31, 2025 were reviewed by another auditor who also expressed an unmodified conclusion on May 7, 2025. No material uncertainties regarding going concern or significant risks were identified in the audit report. The company reported total shareholders equity of SAR 5,708.44 million, representing an 18.956% increase from the previous year, with earnings per share of SAR 0.96 compared to SAR 0.63 in the prior year period.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94980&anCat=1&cs=2050&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.