With Net Profit Reaching SAR 159 Million; a 41.8% Increase Compared to the Same Period Last Year:
Riyadh, December 17, 2016
Saudia Dairy and Foodstuff Company (SADAFCO) has commenced operations of the new solar project that comes in line with the Kingdom’s 2030 vision for renewable energy, offering new employment opportunities and creates economic diversification.
“The new 2 SAR million solar power project at our Riyadh Regional Distribution Centre (RDC) is utilizing a photovoltaic (PV)-diesel hybrid system that can deliver up to 40 percent of the facility’s daytime energy requirements,” said Wout Matthijs, CEO of SADAFCO during a media tour at the RDC in Riyadh.
“We are excited that the Riyadh RDC Solar Project is operational as it is a huge step towards becoming more sustainable,” stated Matthijs. “We are looking forward to find new ways to become more efficient and apply these learnings to other areas in which SADAFCO operates. This is not just about powering our business, but reducing our operation’s carbon footprint in a way that is socially responsible.”
Covering a surface area of about 1,600 m2, over 2,000 solar cells have been installed atop the carport structures in the parking area offering the additional benefit of sun shade for cars. The project will operate high performance thin film photovoltaic modules from US-headquartered First Solar, Inc. These modules deliver more energy than conventional crystalline silicon panels, in the hot, humid and dusty conditions experienced in the greater part of Saudi Arabia. The hybrid system will not only result in cost savings from reduced diesel consumption on the generators necessary for an off-the-grid facility, but will decrease pollution as well.
“Furthermore, SADAFCO will utilise the most eco-efficient solar technology as it generates 226KW of power from the sun and combines it with output of existing diesel generators,” added Matthijs. “While the solar project currently only affects SADAFCO’s Riyadh RDC, it will provide the company with a framework and key insights on the possibilities of a wider implementation across some of its other locations, where relevant.”
Speaking about the recent financial results, Wout announced that SADAFCO realized a SAR 47 million (41.8 percent) increase in net profit during the six-month period ending on 30 September 2016, compared to the same period last year, reaching SAR 159 Million.”
Based in Jeddah, SADAFCO operates sales and distribution depots in 24 locations across the Kingdom of Saudi Arabia, Qatar, Bahrain, Jordan and Kuwait. Saudia products are also exported to several countries in the MENA region.
The company’s product portfolio comprises of a wide range of items across several categories that include: Milk, Laban, Tomato Paste, Ketchup, Snacks, Ice Cream, Cheese, Instant Milk Powder, Cream, Fruit Nectars, Arabic Coffee, Soy Drink, Butter and French Fries.
Established in 1976, SADAFCO has risen to become a leading dairy and foodstuff manufacturer, importer, distributor and marketer in Saudi Arabia and has established a strong reputation and loyal following in the food and beverage industry across the GCC region.