Financial Results : GAS profit jumps 40% to SAR 114M in 2024; H2 at SAR 68.3M

GAS profit jumps 40% to SAR 114M in 2024; H2 at SAR 68.3M

05/03/2025 Argaam Exclusive

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Gas Arabian Services Co. (GAS) posted a 40% rise in 2024 net profit to SAR 114 million from SAR 81.5 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 721.51 1,093.03 51.5 %
Gross Income 123.13 172.41 40.0 %
Operating Income 82.71 110.76 33.9 %
Net Income 81.47 113.96 39.9 %
Average Shares 158.00 158.00 -
Earnings Per Share before unusual items (Riyals) 0.52 0.72 39.9 %
EPS (Riyals) 0.52 0.72 39.9 %

The profit increase was driven by an increase in revenue to SAR 1.09 billion from SAR 721.5 million a year earlier, on higher supply orders and new contracts



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 370.30 611.49 65.1 %
Gross Income 70.88 81.17 14.5 %
Operating Income 47.66 63.82 33.9 %
Net Income 45.99 68.29 48.5 %
Average Shares 158.00 158.00 -
Earnings Per Share before unusual items (Riyals) 0.29 0.43 48.5 %
EPS (Riyals) 0.29 0.43 48.5 %

In H2 2024, net profit grew 49% to SAR 68.3 million from SAR 46 million in H2 2023.

 

Sequentially, the bottom-line rose 49.6% from SAR 45.66 million.

 

Total shareholders’ equity, no minority interest, reached SAR 404.46 million as of Dec. 31, 2024, compared to SAR 360.69 million a year earlier.

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