CENOMI RETAIL REPORTS IMPROVED PERFORMANCE IN 2024, LAYING THE FOUNDATION FOR STRONGER GROWTH IN 2025, DRIVEN BY ENHANCED OPERATIONAL EFFICIENCIES AND ELEVATED TIER 1 CHAMPION BRANDS’ PERFORMANCE
Strategy implementation continues to deliver strong results, with EBITDA in FY-24 growing exponentially YoY to reach SAR 469 million, despite the impact of the brand optimization program
Saudi retail revenues witnessed solid growth of 9.1% YoY in Q4-24, driven by strategic initiatives to enhance customers’ retail experience
International portfolio sustained its strong momentum, delivering revenue growth of 36.7% YoY in Q4-24, and 26.5% YoY in FY-24
New store openings for Tier 1 Champion brands accounted for 8.5% of total revenue, contributing to the overall 3.7% YoY revenue growth in FY-24
Focus remains on deleveraging the balance sheet, with total payment of SAR 664 millionand net debt reduction of 31.6% YoY in FY-24
Net Loss improved from SAR 1.1 billion in FY-23 to SAR 197 million in FY-24
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