Almarai Company reveals the impact of the rise in diesel prices on its financial costs!

Saudi Arabian company Almarai announced the impact of the increase in diesel prices starting from January 1, 2025, where the company is expected to bear an additional cost estimated at around 200 million Saudi Riyals (equivalent to 53.2 million US dollars) as a direct effect of this increase. This was stated in an official disclosure published by the company on the Saudi market's website today, Thursday.

Almarai clarified that there is also an indirect impact on other parts of its supply chains as a result of this increase, indicating that this may result in additional costs in the future.

Despite this, the company confirmed its ongoing commitment to achieving efficiency in operations and improving its cost structure through a set of initiatives aimed at mitigating the impacts of the increase in diesel prices.

Regarding stock transactions, Almarai’s shares witnessed losses of 0.53%, equivalent to 0.30 Riyals per share, trading at a level of 56.50 Saudi Riyals on the Saudi Stock Exchange.

It is worth noting that Saudi Aramco had decided to increase diesel prices as part of its annual review of fuel prices at the beginning of each year, a mechanism that was first implemented in 2022. This decision represents the fourth increase under this mechanism, reflecting Aramco's commitment to updating its product prices in line with global market fluctuations and local market needs.

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