Financial Results : GAS net profit rises 12% to SAR 67.4 mln in 2022

GAS net profit rises 12% to SAR 67.4 mln in 2022

13/03/2023 Argaam Exclusive

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Gas Arabian Services Co. (GAS) reported a net profit of SAR 67.4 million in 2022, an increase of 12% compared to SAR 60.1 million in 2021, due to higher overall revenue and an increase in profit share from joint ventures and associates in 2022.



Financials (M)

Item 2021 2022 Change‬
Revenues 386.46 496.04 28.4 %
Gross Income 104.70 115.14 10.0 %
Operating Income 37.36 42.62 14.1 %
Net Income 60.06 67.38 12.2 %
Average Shares 158.00 158.00 -
Earnings Per Share before unusual items (Riyals) 0.38 0.43 12.2 %
EPS (Riyals) 0.38 0.43 12.2 %


Current Half Annual Comparison (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Revenues 246.58 307.05 24.5 %
Gross Income 73.86 79.41 7.5 %
Operating Income 39.56 40.63 2.7 %
Net Income 44.62 49.54 11.0 %
Average Shares 158.00 158.00 -
Earnings Per Share before unusual items (Riyals) 0.28 0.31 11.0 %
EPS (Riyals) 0.28 0.31 11.0 %

Total shareholders’ equity, no minority interest, stood at SAR 317.16 million as of Dec. 31, 2022, compared to SAR 278.16 million in the year-earlier period. 

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