Riyal Investment 2023 profits down 5% to SAR 18.3M

19/03/2024 Argaam Exclusive

Riyal Investment and Development Co. reported a net profit of SAR 18.3 million for 2023, a decline of 5% compared to SAR 19.1 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 189.58 121.66 (35.8 %)
Gross Income 40.36 44.40 10.0 %
Operating Income 29.54 30.22 2.3 %
Net Income 19.14 18.28 (4.5 %)
Average Shares 8.00 8.00 -
EPS (Riyals) 2.39 2.28 (4.5 %)

The decline is largely due to a significant decline in the sale of new vehicles, which reflects diminished demand for new vehicles in 2023, contrasting with the surge experienced in 2022, fueled by increased vehicle demand in Saudi Arabia following the COVID-19 period.

 

This is in addition to the increase in specific operational expenses, expected credit loss (ECL), and inventory provisions, along with higher financing costs.

 

The 2023 revenue stood at SAR 121.7 million, compared to SAR 189.6 million in 2022.



Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬

Total shareholders’ equity, no minority interest, stood at SAR 151.7 million by Dec. 31, 2023, compared to SAR 133.61 million a year earlier.

View More Financial Results

 

View other reports

Share Price

Riyal Investment and Development Co.
27.55
0.40 1.47 %

Riyal Investment and Development Co. (RIYAL)

More


Financial Ratios
Current
Market Cap (M Riyal) 220.40
Enterprise Value (EV) (M) 253.52
Shares Outstanding ((M)) 8.00
Book Value (BV) ( Riyal) 18.96
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 12.06
Price/book 1.45
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request