Amwaj International Co. reported a net profit of SAR 16 million for 2023, a decline of 45% from SAR 29 million a year ago.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 323.92 | 301.93 | (6.8 %) |
| Gross Income | 64.19 | 63.97 | (0.3 %) |
| Operating Income | 40.40 | 33.95 | (16.0 %) |
| Net Income | 29.03 | 15.96 | (45.0 %) |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 4.84 | 2.66 | (45.0 %) |
The profit drop was attributed to the annual decrease in net sales by 7% on lower sales of the heating, ventilation, air conditioning and home appliances solutions segment, which includes corporate projects and the consumer segment.
Meanwhile, net profit was also affected by the seasonal factor, higher financing costs due to rising SAIBOR, lower sales due to the pullback in average selling prices and sales volumes. This is besides higher general and administrative expenses, marketing expenses, and Zakat expenses.
Total shareholders’ equity, no minority interest, reached SAR 129.69 million by Dec. 31, 2023, compared to SAR 122.50 million in the prior year.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
165.43 |
21.08 |
3.51 |
|
H2 2021 |
105.12 |
7.18 |
1.20 |
|
H1 2022 |
166.22 |
15.03 |
2.50 |
|
H2 2022 |
157.70 |
14.00 |
2.34 |
|
H1 2023 |
154.89 |
10.15 |
1.69 |
|
H2 2023 |
147.04 |
5.81 |
0.97 |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}