RIYADH — Saudi Aramco has announced its full-year 2024 financial results, reporting a net income of $106.2 billion. The company declared a 4.2% year-on-year increase in its Q4 base dividend to $21.1 billion. Cash flow from operating activities reached $135.7 billion, while free cash flow stood at $85.3 billion. Aramco maintained a disciplined capital investment approach, with total spending of $53.3 billion in 2024, including $50.4 billion in organic capital expenditures. The company has set capital investment guidance for 2025 between $52 billion and $58 billion, excluding approximately $4 billion in project financing. Aramco anticipates declaring total dividends of $85.4 billion in 2025, including a $0.2 billion performance-linked dividend for Q1 2025. The company also highlighted potential additional operating cash flows of $9-10 billion from its growing Upstream gas business and $8-10 billion from its Downstream segment by 2030. President & CEO Amin Nasser emphasized Aramco's adaptability, stating: "Our strong net income and increased base dividend illustrate Aramco's exceptional resilience and ability to leverage its unique scale, low cost, and high reliability to deliver industry-leading performance for our shareholders and customers." He noted that global oil demand reached record highs in 2024, with further growth expected in 2025. Aramco remains focused on expanding its gas capabilities, integrating Upstream and Downstream operations, and deploying AI-driven technologies to enhance efficiency and sustainability. With a spare capacity that could generate an additional $12 billion in operating cash flow if tapped, Aramco remains well-positioned to meet potential oil demand growth while driving long-term value creation.
