Saudia Dairy & Foodstuff Company reports strong sales, profit growth for 2024

Saudia Dairy & Foodstuff Company reports strong sales, profit growth for 2024
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Updated 25 March 2025
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Saudia Dairy & Foodstuff Company reports strong sales, profit growth for 2024

Saudia Dairy & Foodstuff Company reports strong sales, profit growth for 2024

Saudia Dairy & Foodstuff Company, the market leader in Saudi Arabia for long-life milk, tomato paste and ice cream, has reported strong financial results for 2024, with significant growth in both sales and profits.

Total sales were SR2.96 billion ($789 million), an increase of 6.59 percent compared to the 12 months of 2023. Net profit was SR483.16 million, 16.31 percent of net sales compared to 14.91 percent in 2023.

Patrick Stillhart, CEO of SADAFCO, said: “These outstanding results reflect our strong market position, ongoing commitment to sustainable growth, and the tireless efforts of our wonderful employees. We have successfully driven performance in new and existing categories through strategic investments in distribution, product innovation and brand development.

Our market share in UHT milk, tomato paste and ice cream remain robust, and we continue to delight our consumers with the high quality of our products.” The company’s investment in environmental, social and governance best practice in line with international standards, Vision 2030 and Saudi Arabia’s net zero by 2060 target will continue to shape its long-term strategy, Stillhart added.

In 2023, SADAFCO changed its fiscal year from the end of March to the end of December. Comparing the 12 months of last year with the nine-month period from April 1 to December 31, 2023, sales jumped 40.32 percent, while profits increased 48.67 percent. 

During 2024, SADAFCO declared/distributed SR15 per share in cash dividends.


SAB launches first off-balance sheet digital Islamic supply chain transaction in KSA

SAB launches first off-balance sheet digital Islamic supply chain transaction in KSA
Updated 09 April 2025
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SAB launches first off-balance sheet digital Islamic supply chain transaction in KSA

SAB launches first off-balance sheet digital Islamic supply chain transaction in KSA

Saudi Awwal Bank and United Pharmaceuticals, a retail pharmacy chain in the Kingdom, have successfully executed the first off-balance sheet end-to-end digital Islamic supply chain finance transaction in Saudi Arabia. A significant milestone in the realm of Islamic finance, this groundbreaking achievement enables automated discounted early payments for United Pharmaceuticals’ strategic suppliers.

Recently, SAB upgraded its supply chain platform to accommodate Islamic transactions by incorporating new Shariah-compliant features. This enabled United Pharmaceuticals to successfully upload their payment file and benefit from enhancements, including fully automated processes for recording and approval, and sales contract generation for Shariah compliance.

This leading-edge solution drastically cuts down the manual processing time from hours to minutes. It has brought significant advantages to United Pharmaceuticals, including improved efficiency and control in supplier invoice processing and payments, reduced client operational tasks and risks, stronger supplier relationships due to timely Shariah-compliant payments, optimized working capital management with extended payment terms through non-recourse early discounting based on the buyer’s creditworthiness, and improved pricing.

Yasser Al-Barrak, chief corporate and institutional banking officer at SAB, said: “We are thrilled to lead the way in providing innovative solutions that meet the needs of our clients while adhering to Islamic principles. This transaction showcases our commitment to enhancing the financial landscape in alignment with Saudi Vision 2030.”

He added: “The integration of technology and Islamic finance represents a significant step forward in supporting businesses and fostering economic growth in the Kingdom.” Khaled Yassin, CEO of United Company, said: “We are proud to sign this agreement, which represents a strategic step in developing our financial operations and strengthening our relationships with our partners.”

This initiative will significantly contribute to improving our liquidity management, enabling us to achieve higher operational efficiency and support our expansion plans with greater flexibility and effectiveness.”

Dr. Mohamed Abdelwahab El-Mursi, CFO of United Company, added: “This agreement will provide innovative financial solutions that help reduce operational complexities and enhance efficiency in payment processes and working capital management. We are extremely pleased with this partnership with SAB, which reflects our commitment to financial innovation and delivering added value to our suppliers and customers.”

This Islamic platform enhancement underscores the importance of digitization and the immense potential of Islamic structured trade solutions in the Kingdom. SAB is dedicated to advancing its supply chain platform to deliver automated discounting solutions that serve both Islamic and conventional transactions effectively.


Ruder Finn Atteline unveils new brand identity

Ruder Finn Atteline unveils new brand identity
Updated 09 April 2025
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Ruder Finn Atteline unveils new brand identity

Ruder Finn Atteline unveils new brand identity

After nearly 10 years in the region, Ruder Finn Atteline, formerly Atteline, is strengthening its proposition as the MENA arm of Ruder Finn with local insight and global capabilities. With a fresh brand identity and newly designed logo combining Ruder Finn’s 75 years of global expertise alongside Atteline’s hallmark creativity and culture, the integrated communications agency is now gearing up to set a new pace for the decade ahead.

Aligning with its global “What’s Next” positioning — a commitment to always remaining one step ahead of industry trends and leading with a data-driven, digital-first, early-adopter mindset — Ruder Finn Atteline is now doubling down on enhancing client experiences and innovatively empowering employees.

As part of this vision, Ruder Finn Atteline is preparing to launch its Content Hub, a first-of-its-kind platform for the region to prioritize authentic storytelling in an era increasingly dominated by AI-generated content. This move aligns with the ongoing expansion of its Digital Division, ensuring that both verticals work in tandem as integral components of the integrated communications ecosystem.

The dual-headquartered agency in MENA (Riyadh and Dubai) is also bolstering its leadership team within its consumer and corporate divisions, with three senior positions having been named. These efforts are being made to support growth with unity, boost leadership abilities, and further broaden the agency’s capabilities to meet the evolving demands of the market.

Kathy Bloomgarden, CEO of Ruder Finn, said: “As the communications landscape shifts amidst AI advancement and ongoing innovation, staying ahead means embracing change with bold thinking and innovative solutions. This is exactly what the integration of Atteline and Ruder Finn achieves. We have united a powerful combination of global expertise and regional creativity, positioning us to deliver next-generation strategies tailored for MENA. With a strong foundation in digital, data, and AI-driven storytelling, Ruder Finn Atteline is poised to help clients navigate what’s next — not tomorrow, but today.”

Sophie Simpson, managing director of Ruder Finn Atteline — MENA, added: “Continually pioneering the future of communications for the past 70-plus years, Ruder Finn has evolved into one of the world’s largest independent agencies today.”

As Ruder Finn Atteline, we maintain the core elements — creativity and culture — that have brought us success for almost a decade, whilst offering the global expertise and know-how of Ruder Finn. This evolution uniquely positions us as a center of thinking for growth to build an agency of the future, one where data-driven insights, creativity, and technology-driven strategies lead the way.”

Leveraging Ruder Finn’s global tech capabilities, namely its Tech Hub, Ruder Finn Atteline is integrating advanced solutions to boost both internal operations and external offerings. In addition to introducing new divisions and bolstering existing ones, the agency is also strengthening its Sonar and crisis communications offerings, recognized as among the agency’s most impactful services. Building on this strong foundation, the agency is expanding its expertise into the sports and entertainment, automotive and travel and tourism sectors.


Jameel Motors enters Polish market with GAC distribution deal

Jameel Motors enters Polish market with GAC distribution deal
Updated 08 April 2025
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Jameel Motors enters Polish market with GAC distribution deal

Jameel Motors enters Polish market with GAC distribution deal

Jameel Motors, a provider of mobility solutions and partner of choice to top automotive brands, and GAC, one of China’s largest automakers with a presence in 76 countries, have signed an agreement to distribute GAC’s new energy vehicles in Poland.

This market entry creates new opportunities for Polish drivers, providing them with access to innovative and technologically advanced vehicles. Poland is one of the fastest-growing automotive markets in Europe, with consumers increasingly interested in electric vehicles. In 2024, the number of passenger car registrations in Poland increased by 19 percent, the second highest increase in Europe.

Jameel Motors will initially focus on the distribution of Aion and Hyptec, two of GAC’s main passenger car brands. Aion is GAC’s smart new energy vehicle brand and Hyptec is a high-end luxury brand, built on Aion’s first-class technology stack. Vehicles will be available for purchase in Q3 2025.

Jasmmine Wong, chief executive — mobility for Abdul Latif Jameel, said: “We are proud to introduce GAC’s innovative new energy vehicles to Polish drivers and meet the increasing demand for electric vehicles. GAC’s commitment to safety, quality, advanced technology, and sustainability aligns perfectly with our mission to provide cutting-edge mobility solutions. By bringing these vehicles to Poland, we are offering customers an exciting opportunity to experience the future of automotive innovation. This is a significant milestone in Jameel Motors’ international expansion.”

Thomas Schemera, global chief operating officer of GAC International, said: “GAC International is committed to a full localization strategy — integrating into Poland, serving Poland, and contributing to Poland — to enhance mobility for Polish users. We are thrilled to collaborate with Jameel Motors, a trusted and esteemed partner known for its deep market expertise and dedication to excellence. Moving forward, we will introduce more new energy vehicle models to meet market demand. By deepening cooperation and strengthening brand influence, we look forward to achieving new milestones in Poland together.”

Jameel Motors’ experienced team in Poland will be led by Marcin Slomkowski, a manager with 25 years of experience in the automotive industry. He is an expert in distribution and retail, having worked with the world’s largest automotive brands, as well as being a member of the Dealer Council in Poland.

Słomkowski said: “Our goal is to provide Polish drivers with safe, reliable, innovative, and competitively priced vehicles, while supporting the country’s green mobility transition. GAC’s vehicles stand out with their modern design, advanced driver assistance systems, high-quality materials, top-tier safety features, luxurious finish, and an extended driving range of up to 520 km per charge. We are confident that they will meet and exceed our customers’ expectations.”

Jameel Motors plans to develop a nationwide dealer network to ensure convenient access to GAC vehicles and comprehensive service support. Additionally, Jameel Motors will offer attractive financing options, enabling customers to conveniently purchase and lease GAC vehicles. The offer will also include comprehensive fleet solutions for businesses, providing flexible financing options, servicing, and fleet management support.

Customers will initially be able to test and purchase three fully electric GAC models: Aion V, Aion Y Plus, and Hyptec HT. With the first models arriving in Polish showrooms in Q3 this year, Jameel Motors plans a dynamic expansion of its sales and service network to ensure the highest quality of customer support.

Jameel Motors represents some of the world’s most recognized commercial and passenger vehicle brands and has operations in more than 10 countries across the Middle East, Africa, Europe, Asia and Australia.


VFS Global to promote Czechia’s allure to Middle East travelers

VFS Global to promote Czechia’s allure to Middle East travelers
Updated 08 April 2025
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VFS Global to promote Czechia’s allure to Middle East travelers

VFS Global to promote Czechia’s allure to Middle East travelers

VFS Global has been appointed as the destination representation partner for CzechTourism in Middle East to showcase Czechia’s diverse travel experiences and unique attractions. Leveraging its extensive reach and expertise, VFS Global will drive marketing, public relations and trade engagement efforts to boost visitor numbers and enhance overall awareness of Czechia as a premier destination.

Travelers from Middle East can experience Czechia’s exciting outdoor activities and rich cultural heritage — featuring majestic castles, chateaux, 17 UNESCO monuments, historic cities and Czech cuisine in traditional and modern form. With this strategic collaboration, CzechTourism and VFS Global are poised to elevate Czechia’s presence on the global tourism map, inspiring more travelers to explore the country’s beauty and cultural richness.

Jana Štumpová Konicarová, marketing director and director of foreign offices at CzechTourism, said: “We are excited to continue our long-standing partnership with VFS Global to promote Czechia’s rich cultural and natural attractions to travelers from the Middle East. In 2024, Czechia welcomed over 80,000 Middle East-based visitors, reflecting a growing interest in our vibrant cities, historic landmarks and serene countryside. Through this partnership, we aim to inspire even more travelers to explore and create lasting memories in one of Europe’s most captivating destinations.”

Barbara Andelová, international marketing manager — new markets at CzechTourism, added: “Partnering with VFS Global presents a tremendous opportunity to amplify Czechia’s presence in the Middle East. With a strategic focus on PR and marketing initiatives, our goal is to showcase Czechia’s deep-rooted heritage, diverse landscapes and unique travel experiences to a broader audience. Through this collaboration, we look forward to building stronger connections with the travel trade and media fraternity, inspiring more visitors to discover the charm of our country.”

G.B. Srithar, global head of tourism services at VFS Global, said: “We are happy to partner with CzechTourism to promote its diverse and exciting offerings to Middle East-based travelers ... With Middle East-based travelers becoming more discerning in their travel needs — seeking rich gastronomy, immersive heritage and authentic local experiences — they will find Czechia a very appealing destination. At VFS Global, we are delighted to foster a long-term partnership, building on our strong travel trade partner-friendships across the Middle East.”


Saudi Arabia’s Neo Space Group to power Thai Airways with advanced in-flight connectivity

Saudi Arabia’s Neo Space Group to power Thai Airways with advanced in-flight connectivity
Updated 08 April 2025
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Saudi Arabia’s Neo Space Group to power Thai Airways with advanced in-flight connectivity

Saudi Arabia’s Neo Space Group to power Thai Airways with advanced in-flight connectivity

Neo Space Group, a Public Investment Fund company and Saudi Arabia’s leading commercial space services provider, announced an expanded partnership with Thai Airways International to equip 80 aircraft with its state-of-the-art in-flight connectivity solution.

This announcement builds on the earlier announcement of NSG and Thai Airways collaboration to deliver a seamless in-flight connectivity service, offering market-leading connection speed, global gate-to-gate coverage (where permitted), and a personalized passenger experience through seamless login and exclusive benefits for Royal Orchid Plus members.

Thai Airways’ passengers will benefit from unlimited, high-speed internet access throughout their journey. NSG’s IFC solution leverages the SES Open Orbits network, delivering high-speed, low-latency coverage through both GEO and MEO satellites across the airline’s global routes.

The rollout will begin with Thai Airways’ Boeing 777 fleet, which will be retrofitted starting in Q3 2025. In parallel, the Airbus A321neo fleet currently in production will be line-fitted with the Airbus HBCplus platform, with deliveries starting from Q4 2025.

Building on this momentum, Thai Airways’ Boeing 787 Dreamliner fleet, also in production, will be line-fitted with SPI’s Aeroconnect terminal — a major milestone in NSG and Thai Airways’ joint connectivity strategy. Deliveries for the 787s are scheduled to commence in mid-2026.

Martijn Blanken, CEO of Neo Space Group, said: “Being selected by Thai Airways International highlights the strength and versatility of NSG’s multi-orbit connectivity solutions. We are excited to support Thai Airways in elevating the passenger experience with reliable, high-speed internet. This collaboration marks not only the airline’s resurgence but also its forward-thinking vision, and we are proud to play a role in shaping its future.”

He added: “NSG’s IFC solution will deliver internet speeds of up to 200 Mbps, enabling best-in-class complimentary Wi-Fi streaming for premium class passengers and Royal Orchid Plus members. This investment reflects THAI’s broader strategy, building on its legacy of service excellence and digital innovation — while continuing to deliver its signature hospitality.”

Wirush Theparak, head of customer experience and product at Thai Airways International, said: “Thai Airways International is committed to delivering an elevated guest experience. Our partnership with NSG allows us to vastly improve our in-flight connectivity and offer our passengers new levels of convenience, entertainment, and comfort. This initiative marks a significant step in our journey to redefine passenger expectations.”