Jahez International Company for Information System Technology (“Jahez”, or the “Group”, 6017 on the Saudi Exchange’s TASI– Main Market), announces its financial results for the full year of 2024. The Group recorded all-time high profitability and record total orders, while growing market share in all verticals and across all regions including KSA and non-KSA.
Ghassab Bin Salman Bin Mandeel, CEO of Jahez Group, said:
“2024 was a defining year for Jahez Group, marked by record profitability, sustained growth, and our successful transition to the Main Market of the Saudi Exchange (TASI).
In a growing total addressable market, we pursued our expansion in the on-demand services across our core platforms. In Saudi Arabia, we grew our operations, and we continued to captured market share especially outside the central region. In parallel, our operations in Kuwait and Bahrain and in the new verticals are scaling rapidly, reinforcing Jahez’s ability to create and deliver value across diverse markets.
As we enter 2025, we remain focused on sustainable and profitable growth while strategically investing in our ecosystem. We are diversifying our revenue streams by further integrating and expanding our offerings beyond food delivery, creating more seamless experiences for our users and partners while investing in our logistic capabilities. With an expanding market and an unwavering commitment to innovation and customer obsession, Jahez Group is solidifying its leadership across Saudi Arabia, Kuwait, and Bahrain. Through our ecosystem, we are delivering convenience, reliability, and exceptional service to our users and merchants.”
- GMV up 28.5% YoY to 6.5 billion (2023: 5.1 billion), with GMV in non-KSA geographies up 2.9x, while KSA platforms grew by 20.4% YoY.
- Net Revenue up 24.3% YoY to 2.2 billion (2023 1.8 billion), driven by record full-year total orders exceeding 106 million, higher average order value, and a higher take-rate.
- Net Income Attributable to the Shareholders of the Parent Company grew 50.0 % YoY to 187.9 million (2023: 125.3 million)
- Adj. EBITDA of 250 million, exceeding 2024 guidance, and representing 11.3% of Net Revenue, (2023: 181 million, 10.2% of Net Revenue).
