Atlas Elevators General Trading and Contracting Co.’s profits rose to SAR 10 million by the end of 2023, from SAR 9.5 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 77.34 | 71.29 | (7.8 %) |
| Gross Income | 25.08 | 26.78 | 6.7 % |
| Operating Income | 9.01 | 6.40 | (29.0 %) |
| Net Income | 9.53 | 10.02 | 5.2 % |
| Average Shares | 4.80 | 6.00 | 25.0 % |
| EPS (Riyals) | 1.99 | 1.67 | (15.9 %) |
The increase in profits was attributed to lower cost of sales, which fell 14.82% year-on-year (YoY). Additionally, the sales cost to sales ratio decreased from 67.57% in 2022 to 62.44% in 2023. Moreover, diversified revenues increased by 40.48% YoY.
This was despite a decrease in revenues due to lower installation revenue and maintenance revenue.
Total shareholders’ equity, after minority interest, stood at SAR 92.41 million as of Dec. 31, 2023, from SAR 63.01million a year earlier.
The gross income for the current period amounted to SAR 10.17 million, compared to SAR 9.81 million in the year-ago period.
Earnings per share (EPS) amounted to SAR 1.22 for the current period, compared to SAR 1.88 a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR/share) |
|
H1 2022 |
37.61 |
0.07 |
0.01 |
|
H2 2022 |
39.73 |
9.46 |
1.97 |
|
H1 2023 |
33.55 |
0.05 |
0.01 |
|
H2 2023 |
37.74 |
9.97 |
2.08 |
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