Financial Results : Qomel logs 25% profit leap in 2024 to SAR 22M; H2 at SAR 11M

Qomel logs 25% profit leap in 2024 to SAR 22M; H2 at SAR 11M

24/02/2025 Argaam Exclusive

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The Nomu-listed Qomel Co. posted a net profit of SAR 22 million for 2024, up 25% from SAR 17.6 million a year before.



Financials (M)

Item 2023 2024 Change‬
Revenues 105.47 124.20 17.8 %
Gross Income 31.51 42.86 36.0 %
Operating Income 20.62 26.22 27.2 %
Net Income 17.59 21.96 24.8 %
Average Shares 3.00 3.50 16.7 %
Earnings Per Share before unusual items (Riyals) 5.86 6.27 7.0 %
EPS (Riyals) 5.86 6.27 7.0 %

The top line reached SAR 124.2 million, leaping 17.75% year-on-year (YoY), boosted by increased demand for registered products and expansion of product portfolio. The company also cited the registration and launch of new pharmaceutical products that contributed to higher sales volume and greater market share.

 

This is in addition to optimized pricing and sales strategy, as well as the implementation of dynamic pricing strategies, enhanced sales, and marketing efficiency, which led to higher profit margins.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 61.44 65.64 6.8 %
Gross Income 19.52 23.21 18.9 %
Operating Income 13.45 13.62 1.2 %
Net Income 12.38 10.95 (11.5 %)
Average Shares 3.00 3.50 16.7 %
Earnings Per Share before unusual items (Riyals) 4.13 3.13 (24.2 %)
EPS (Riyals) 4.13 3.13 (24.2 %)

The second-half earnings drop 12% to SAR 11 million, compared with SAR 12.38 million a year before.

 

Total shareholders' equity, no minority interest, reached SAR 104.96 million by the end of 2024, compared with SAR 45.50 million in 2023.

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