Earnings Report /
Saudi Arabia

Almarai: Weaker than expected results on low margins

  • Revenues grew 2.0% yoy to SAR3.9bn in Q3 21 and came in-line with our estimates of SAR4.0bn

  • Gross margins came in at 32.4% and was significantly lower than our estimates of 34.0%

  • Net operating expense declined 1.0% yoy to SAR757mn, marginally higher than our estimates of SAR745mn

SNB Capital
14 October 2021
Published by