Astra earns SAR 475.3M in 2023; Q4 at SAR 134.3M

28/02/2024 Argaam Exclusive

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Astra Industrial Group reported a net profit of SAR 475.3 million for 2023, compared to SAR 474.3 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	2,594.15	2,858.50	10.2 %
Gross Income	1,040.05	1,186.81	14.1 %
Operating Income	420.85	531.27	26.2 %
Net Income	474.32	475.33	0.2 %
Average Shares	80.00	80.00	-
EPS (Riyals)	5.93	5.94	0.2 %

This was propelled by higher sales and gross profit in pharmaceuticals and steel industries segments, decreased net financing cost, and lower general and administrative expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	729.02	789.70	8.3 %
Gross Income	320.47	335.77	4.8 %
Operating Income	157.63	154.18	(2.2 %)
Net Income	85.66	134.28	56.8 %
Average Shares	80.00	80.00	-
EPS (Riyals)	1.07	1.68	56.8 %

Item	Q3 2023	Q4 2023	Change‬
Revenues	643.21	789.70	22.8 %
Gross Income	259.20	335.77	29.5 %
Operating Income	114.03	154.18	35.2 %
Net Income	103.42	134.28	29.8 %
Average Shares	80.00	80.00	-
EPS (Riyals)	1.29	1.68	29.8 %

Q4 2023 reached SAR 134.3 million, an increase of 56.8% year-on-year (YoY).

On a sequential basis, net earnings rose 29.8% from SAR 103.42 million in Q3 2023.

Shareholders’ equity, after minority interest, reached SAR 2.12 billion by Dec. 31, 2023, compared to SAR 1.84 billion a year earlier.

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