Financial Results : Astra 9M 2024 net profit rises 34% to SAR 457.9M; Q3 at SAR 139.4M

Astra 9M 2024 net profit rises 34% to SAR 457.9M; Q3 at SAR 139.4M

31/10/2024 Argaam Exclusive

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Astra Industrial Group reported a net profit of SAR 457.9 million for the first nine months of 2024, marking a 34% increase from SAR 341 million in the same period last year.


Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 2,042.87 2,340.66 14.6 %
Gross Income 848.60 1,011.95 19.2 %
Operating Income 379.84 496.65 30.8 %
Net Income 341.04 457.90 34.3 %
Average Shares 80.00 80.00 -
EPS (Riyals) 4.26 5.72 34.3 %

The growth was driven by higher sales volumes, increased gross profit, and gains from discontinued operations.

 

Q3 2024 net profit stood at SAR 139.4 million, an increase of 35% year-on-year (YoY), from SAR 103.4 million a year earlier, on higher sales volumes as well as gross profit.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 643.21 688.53 7.0 %
Gross Income 259.20 324.02 25.0 %
Operating Income 114.03 164.38 44.1 %
Net Income 103.42 139.41 34.8 %
Average Shares 80.00 80.00 -
EPS (Riyals) 1.29 1.74 34.8 %

On a sequential basis, net earnings slumped by 17.4%, from SAR 168.7 million.

 

Total shareholders’ equity (no minority equity) stood at SAR 2.38 billion by Sept. 30, 2024, compared to SAR 1.99 billion a year earlier.

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Quarterly Actuals vs Estimates 31/10/2024

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