Marble Design profit slips 3% to SAR 21.9M in 2023

29/02/2024 Argaam Exclusive

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Marble Design Co.’s net earnings slipped 3% to SAR 21.9 million in 2023 from SAR 22.6 million in the previous year due to 7.22% lower sales year-on-year (YoY).

Financials (M)

Item	2022	2023	Change‬
Revenues	55.17	51.18	(7.2 %)
Gross Income	36.72	32.45	(11.6 %)
Operating Income	24.50	22.50	(8.2 %)
Net Income	22.62	21.91	(3.1 %)
Average Shares	6.00	6.00	-
EPS (Riyals)	3.77	3.65	(3.1 %)

This was offset by an increase in other revenues by SAR 1.01 million.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	29.90	24.39	(18.4 %)
Gross Income	20.42	14.78	(27.6 %)
Operating Income	13.93	12.37	(11.2 %)
Net Income	12.82	11.27	(12.1 %)
Average Shares	6.00	6.00	-
EPS (Riyals)	2.14	1.88	(12.1 %)

Item	H1 2023	H2 2023	Change‬
Revenues	26.79	24.39	(9.0 %)
Gross Income	17.67	14.78	(16.3 %)
Operating Income	10.12	12.37	22.2 %
Net Income	10.64	11.27	5.9 %
Average Shares	6.00	6.00	-
EPS (Riyals)	1.77	1.88	5.9 %

Shareholders’ equity, no minority interest, stood at SAR 99.11 million as of Dec. 31, 2023, versus SAR 87.07 million in 2022.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2022	25.27	9.80	1.63
H2 2022	29.90	12.82	2.14
H1 2023	26.79	10.64	1.77
H2 2023	24.39	11.27	1.88

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