Jahez International’s Net Profit Surges 50% to SAR 188 Million in 2024

Jahez International Company for Information System Technology reported a net profit of SAR 188 million by the end of 2024, marking a 50% increase compared to SAR 125 million in 2023. This came following today’s announcement of the preliminary financial results for the period ending December 31, 2024.

Key Financial Highlights:

• Operating profit surged 66% to SAR 169 million, up from SAR 102 million in 2023.
• Shareholders’ equity (excluding non-controlling interests) rose 8% to SAR 1.2 billion, compared to SAR 1.1 billion in 2023.
• Earnings per share (EPS) increased to SAR 0.92, compared to SAR 0.61 in 2023.

Revenue Growth Drivers:

Jahez reported a 24.3% rise in net revenues, reaching SAR 2,218.7 million, up from SAR 1,784.8 million in the previous year. The company attributed this growth to:

• A 25% increase in total orders, alongside a 20.7% rise in active customers, with a stable average of 4.4 orders per month.
• An improved commission rate, rising from 13.5% in 2023 to 14.6% in 2024, due to successful negotiations with key partners and an enhanced value per transaction.
• A higher average order value, reaching SAR 61.7, up from SAR 60.1 in 2023, driven by bundled offers that enhanced customer value.