Aramco posts net profit of SAR 398.4 billion in 2024

Saudi Aramco reported a net profit of 398.4 billion Saudi riyals for 2024, down 12% from 454.76 billion riyals in 2023, according to preliminary financial results for the year ended Dec. 31.
Operating profit fell 10.7% to 774.6 billion riyals from 868.29 billion riyals a year earlier.
Total equity, excluding non-controlling interests, stood at 1.45 trillion riyals at the end of 2024, down 5% from 1.53 trillion riyals in 2023.
Earnings per share declined to 1.63 riyals from 1.87 riyals a year earlier.
Aramco said in a statement to Tadawul that total revenue slipped to 1.64 trillion riyals in 2024 from 1.65 trillion riyals in 2023, citing lower crude oil prices and sales volumes, as well as weaker prices for refined and chemical products.
The decline was partially offset by higher sales volumes of refined and chemical products.