A look at Atlas Elevators’ products, expansion plan

Logo of Atlas Elevators General Trading & Contracting Co.

Atlas Elevators General Trading & Contracting Co. recently issued its prospectus to float 1.2 million shares, or 20% of its post-IPO capital, on Nomu-Parallel Market.

The company’s main activity is the sale, supply, installation and maintenance of electric and hydraulic elevators and escalators, where the installation work is supervised by a professional team of up to 45 specialized work groups, in addition to 14 work groups for maintenance and after-sale services targeting customers from the retail sector.

Atlas Elevators has nine branches spread across Riyadh, Al-Kharj, Al-Ahsa, Dammam (Al-Amal District - Taibah District), Jeddah, Jizan, Taif and Abha.

The company confirmed the readiness of its showrooms to receive customer requests to purchase elevators and escalators, as well as periodic and emergency maintenance services. This is in addition to owning three commercial agencies in the Qassim, Abha and Madinah regions, through which it provides elevator and escalators products as well as maintenance services.

The company also owns 99% of the Atlas National Elevator Factory, which produces doors, cabins and steel towers for elevators.

Atlas Elevators stated that its strategy is focused on transferring advanced technologies in developed countries to manufacture elevators within the Kingdom, noting its application of quality standards and its commitment to international safety regulations in the field of elevators.

The following table shows the products and services offered by Atlas Elevators:

The company's installation segment contributes the largest part to its total revenues, as it accounted for 89% by the end of 2022 compared to 94% in 2021. Maintenance sales segment followed recording SAR 8 million in 2022, compared to SAR 4.5 million for 2021, and maintenance sales accounted for about 11% and 6% of the company's total revenues during the years 2022 and 2021, respectively.