GAS profit jumps 21% to SAR 81.5M in 2023

07/03/2024 Argaam Exclusive

View other reports

Gas Arabian Services Co. (GAS) posted a 21% rise in 2023 net profit to SAR 81.5 million from SAR 67.4 million in 2022.

Financials (M)

Item	2022	2023	Change‬
Revenues	496.04	721.51	45.5 %
Gross Income	115.14	134.75	17.0 %
Operating Income	42.62	45.11	5.9 %
Net Income	67.38	81.47	20.9 %
Average Shares	158.00	158.00	-
EPS (Riyals)	0.43	0.52	20.9 %

The profit growth was spurred by higher revenues and improved profits of associates.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	307.05	370.29	20.6 %
Gross Income	79.41	82.51	3.9 %
Operating Income	40.63	33.67	(17.1 %)
Net Income	49.54	45.99	(7.2 %)
Average Shares	158.00	158.00	-
EPS (Riyals)	0.31	0.29	(7.2 %)

Item	H1 2023	H2 2023	Change‬
Revenues	351.22	370.29	5.4 %
Gross Income	52.25	82.51	57.9 %
Operating Income	11.44	33.67	194.3 %
Net Income	35.48	45.99	29.6 %
Average Shares	158.00	158.00	-
EPS (Riyals)	0.22	0.29	29.6 %

Total shareholders’ equity, no minority interest, reached SAR 360.69 million as of Dec. 31, 2023, compared to SAR 317.16 million a year earlier.

GAS Interim Financial Results
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	130.13	9.49	0.06
H2 2020	191.88	63.82	0.40
H1 2021	139.89	15.44	0.10
H2 2021	246.58	44.62	0.28
H1 2022	188.99	17.85	0.11
H2 2022	307.05	49.54	0.32
H1 2023	351.22	35.48	0.22
H2 2023	370.29	45.99	0.29

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×