Leaf Global Environmental Services: Earn SAR 11.7 million (+81.3%) during the first nine months of 2023

Logo of Leaf Global Environmental Services Co.

Leaf Global Environmental Services Co., a company working in environmental services and is expected to be offered in the Saudi Parallel Market (Nomu), achieved a profit of SAR 11.7 million (SAR 2.34/share) during the first nine months of 2023, compared to a profit of SAR 6.5 million for the same period of the previous year.

Key Items of the Income Statement (Interim) – Million Riyals
Item	September 2022	September 2023	Change%
Revenues	19.6	32.8	+67.3%
Total Income	11.8	19.4	+ 65.2%
Net profit	6.5	11.7	+81.3%

The net profit increase is mainly due to revenue growth of 67.3% over the corresponding period to SAR 32.8 million by the end of the nine months ended September 2023.

Most of the company’s revenues came from environmental services activities, where it accounted for 72.8% of revenues at SAR 23.9 million by the end of September 2023.

Revenues By Activity (Interim) – Million Riyals
Item	September 2023	%
Environmental Services	23.9	72.8%
Coral Reef Development	4.0	12.3%
Mangrove Transplantation	4.9	14.9%
Total	32.8	100%

The company achieved profits of SAR 9.5 million during 2022, increased by 14.1% compared to 2021, as indicated in the following table:

Key Items of the Income Statement – Million Riyals
Item	2021	2022	Change%
Revenues	18.8	28.3	+50.2%
Total Income	11.8	16.9	+42.6%
Net profit	8.3	9.5	+14.1%

The following table shows the development of the key items of the statement of financial position since 2021:

Key Items of the Income Statement – Million Riyals
Item	2021	2022	September 2023
Current Assets	17.7	26.2	41.2
Non-Current Assets	11.6	12.1	3.0
Total Assets	29.4	38.3	44.2
Current Liabilities	6.8	5.9	6.1
Non-Current Liabilities	6.0	6.7	7.0
Total Liabilities	12.8	12.6	13.1
Equity	16.6	25.7	31.2

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