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Saudi Arabian Oil Company (Saudi Aramco) Announces its Annual Financial Results for the Year Ended on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,637.3 | 1,653.28 | -0.97 | ||
| Gross Profit (Loss) | - | - | - | ||
| Operational Profit (Loss) | 774.63 | 868.29 | -10.79 | ||
| Net profit (Loss) | 398.42 | 454.76 | -12.39 | ||
| Total Comprehensive Income | 394.54 | 453.06 | -12.92 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,458.23 | 1,534.61 | -4.98 | ||
| Profit (Loss) per Share | 1.63 | 1.87 | |||
| All figures are in (Billions) 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 (Billions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Total revenue of SAR 1,637.30 billion ($436.61 billion) for the year ended December 31, 2024, compared to SAR 1,653.28 billion ($440.88 billion) for the year ended December 31, 2023. The decrease was primarily attributable to lower prices and volumes sold of crude oil, as well as lower refined and chemical product prices. This was partially offset by higher volumes sold of refined and chemical products. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net income of SAR 398.42 billion ($106.25 billion) for the year ended December 31, 2024, compared to SAR 454.76 billion ($121.27 billion) for the year ended December 31, 2023. The decrease was primarily driven by lower revenue and other income related to sales, higher operating costs, as well as lower finance and other income. This was partially offset by lower income taxes and zakat. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | - |
| Reclassification of Comparison Items | None |
| Additional Information | - Given the nature of Saudi Aramco’s business in exploring, prospecting, drilling and extracting hydrocarbon substances (upstream), Saudi Aramco’s consolidated statement of income does not include gross profit. - Other income related to sales was SAR 164.38 billion for the year ended December 31, 2024 (2023: SAR 203.09 billion). As a result, revenue and other income related to sales amounted to SAR 1,801.67 billion for the year ended December 31, 2024 (2023: SAR 1,856.37 billion). |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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