Atlas Elevators General Trading & Contracting Co., which will list shares on Nomu-Parallel Market soon, reported an 11% decline in 2022 net profit to SAR 9.5 million from SAR 10.7 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 79.29 | 77.34 | (2.5 %) |
| Gross Income | 26.93 | 25.08 | (6.9 %) |
| Operating Income | 10.73 | 9.01 | (16.0 %) |
| Net Income | 10.68 | 9.53 | (10.8 %) |
| Average Shares | 4.80 | 4.80 | - |
| EPS (Riyals) | 2.23 | 1.99 | (10.8 %) |
The company attributed the decline in 2022 profit year-on-year (YoY) to a 2% fall in full-year revenues, a drop in gross profit margin from 34% in 2021 to 32%, as well as the decline in net operating profit and rise in financing costs. This came despite the rise in other revenues and the fall in Zakat expenses.
Shareholders' equity (excluding minority interest) amounted to SAR 63 million by the end of 2022, compared to SAR 55.7 million a year earlier.
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