Muwafaq Mubarah, CEO of Al Othaim Markets Firm
He stated good luck CEO of the corporate Al Othaim MarketsThe corporate has elevated its market share to 22% nationwide and 29% within the metropolis of Riyadh, which is able to contribute to future progress.
He added in an interview with Al-Ekhbariya channel that the rise in market share is the results of the opening of 115 new branches between the years 2023 and 2025, bringing the entire variety of branches to greater than 400 branches in varied areas of the Kingdom.
The CEO identified that these expansions affected operational prices briefly, however they signify a long-term funding, explaining that new branches often want between 3 to five years to achieve the break-even level.
Commenting on the monetary outcomes, Mubarah stated that the outcomes of the third quarter of the present 12 months witnessed continued progress in gross sales and market share, explaining that the corporate maintained gross sales progress of 6% in comparison with the identical interval final 12 months.
Mubarah added that the Saudi retail market is witnessing sturdy competitors, however the firm has a logistical and subsidiary infrastructure and a relationship with greater than 500 suppliers within the Kingdom, which places it on the forefront. He careworn that getting into the net area is a crucial incentive to open a further channel, indicating that gross sales grew by greater than 4% final September.
He acknowledged that the corporate will mitigate future expansions to extend comparable gross sales, specializing in areas the place the market share is lower than 15%, corresponding to Jeddah, in order that the corporate goals to open between 10 and 12 branches for the years 2025 and 2026, in comparison with 50 or 60 branches in earlier years.
Relating to the growth of digital channels, he identified that the latest cooperation settlement with Amazon represents an vital step in direction of increasing the scope of e-commerce, benefiting from the corporate’s huge unfold in additional than 114 cities and governorates inside the Kingdom, stressing that the constructive impression of this partnership will start to seem throughout the coming interval.
In a associated context, Mubarah defined that the group continues to diversify its funding actions, noting that Abdullah Al Othaim Markets Firm owns a 68% stake in Moon Energy Firm, which makes a speciality of labor providers, which has achieved exceptional progress over the previous two years.
He careworn that the corporate is working to increase into new sectors corresponding to enterprise providers and pupil providers, along with strengthening its presence in e-commerce, in step with its long-term targets.
Mubareh anticipated that rice costs will stay secure or have a tendency to say no throughout the subsequent six months, in gentle of the stability of provide and demand and the steadiness of the markets.
He famous that the corporate is optimistic concerning the efficiency of the native market and the financial exercise witnessed by the Kingdom, noting that the variety of customers in Al-Othaim markets is rising yearly by about 10%, which reinforces expectations of improved outcomes throughout the fourth quarter and continued progress within the coming 12 months.
In line with information numbersdecreased earnings Abdullah Al Othaim Markets Firm, to 135 million riyals by the tip of the primary 9 months of 2025, in comparison with earnings of 225.5 million riyals achieved throughout the identical interval in 2024, whereas earnings for the third quarter amounted to 17.5 million riyals.
