Jeddah, Kingdom of Saudi Arabia – Savola Group – the leading strategic investment holding group in the food and retail sectors across the MENA region, today announced its interim financial results for the six months ended 30 June 2025, delivering strong revenue growth and a substantial improvement in profit after excluding the impact of prior‑year one‑off transactions.
The Group achieved revenues of SAR 13.7 billion in H1 2025, compared to SAR 12.3 billion in the same period of 2024. This growth was primarily driven by:
- Retail Segment: +6% revenue growth, supported by store network expansion and the Customer Experience Revival (CXR) program at Panda Retail Company.
- Food Processing Segment: Higher volumes and commodity prices in edible oils, particularly in the Saudi market, plus the consolidation of United Sugar Company of Egypt —despite lower sugar volumes and prices.
- Frozen Foods Segment: 4% revenue increase.
The increase came despite lower revenues in the Food Services segment.
Strong Financial Performance during H1 2025
Savola Group reported a net profit of SAR 294.9 million for H1 2025, versus SAR 484.1 million in the same period last year. The year‑on‑year decline reflects the absence of the SAR 447.4 million share of profit from Almarai and SAR 54.3 million from discontinued operations, partially offset by lower financial charges (SAR 181.7 million) following debt repayments in 2024.
After excluding the impact of these transactions, H1 2025 net profit of SAR 294.9 million represents an increase of SAR 130.8 million versus SAR 164.1 million for H1 2024.
The improvement after exclusions was mainly driven by:
- Stronger performance in Retail and Food Processing segments;
- Reduction of losses at Herfy (Food Services);
- Improved results from associates (excluding Almarai and United Sugar Company Egypt)
- Higher other operating income from reversal of accruals (SAR 52.7 million), partly offset by a SAR 7.9 million net loss on derecognition of non‑current assets due to a regulatory project;
- Lower finance costs, zakat, and income tax;
Partially offset by higher operating expenses mainly due to the effect of consolidating United Sugar Company of Egypt and additional lease arrangements.
Q2 2025 Performance
- Revenue: SAR 6.1 billion (+18% YoY)
- Net Profit: SAR 105.7 million vs. net loss of SAR 6.3 million in Q2 2024 after excluding prior‑year one‑offs
- Driven by continued growth in core segments, a Herfy turnaround, and higher other operating income
Savola Group’s 2024 strategic transactions—including a rights issue, capital reduction, debt repayment, and the distribution of its Almarai stake—have strengthened the Group’s balance sheet and created a foundation for sustainable earnings going forward.
About Savola Group
Founded in 1979, Savola Group is a publicly listed company and a leading strategic investment holding company focused on the food and retail sectors across the MENA region (Middle East, and North Africa). Its core platform, Savola Foods, produces and exports a wide range of food products including edible oils (such as Afia & Shams, and Alarabi brands), sugar (Alosra sugar), pasta (Almaleka and Italiano brands), Bayara and Afia nuts, spices, snacking and multiple ghee brands to more than 50 countries. The Group also owns Panda Retail Company, one of the largest grocery chains in Saudi Arabia, and holds strategic stakes in companies such as Herfy Food Service and Alkabeer Frozen Food.
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