Financial Results : Nice One profit surges to SAR 71.7M in 2024; Q4 at SAR 5.9M

Nice One profit surges to SAR 71.7M in 2024; Q4 at SAR 5.9M

04/03/2025 Argaam Exclusive

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Nice One Beauty Digital Marketing Co. reported a net profit of SAR 71.7 million in 2024, compared to SAR 32.6 million a year earlier.


Financials (M)

Item 2023 2024 Change‬
Revenues 782.36 1,003.51 28.3 %
Gross Income 216.56 269.18 24.3 %
Operating Income 35.75 78.95 120.8 %
Net Income 32.62 71.75 119.9 %
Average Shares 110.00 110.00 -
Earnings Per Share before unusual items (Riyals) 0.28 0.65 136.5 %
EPS (Riyals) 0.30 0.65 119.9 %

Revenue grew by 28.27%, to SAR 1 billion in 2024, driven by a 31% increase in orders. This growth was spurred by a mix of customer acquisitions, an expanded product range, and improved customer retention.

 

Operating profit margin increased to 7.87% in 2024 from 4.57% in 2023, on enhanced marketing efficiencies and administrative cost optimization.

 

Meanwhile, gross profit margins reached 26.82% in 2024, slightly down from 27.68% in 2023, mainly due to changes in the sales mix. Furthermore, logistics optimization and inventory management efficiencies contributed to enhanced operational performance, improving overall efficiency.

 

Q4 2024 net earnings jumped 72% to SAR 5.9 million from SAR 3.4 million in the year-earlier period.

 

On a sequential basis, net profit slumped 77.3% from SAR 25.8 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 269.60 307.04 13.9 %
Gross Income 59.71 68.96 15.5 %
Operating Income 4.99 7.69 54.1 %
Net Income 3.41 5.87 72.1 %
Average Shares 110.00 110.00 -
Earnings Per Share before unusual items (Riyals) 0.03 0.05 91.8 %
EPS (Riyals) 0.03 0.05 72.1 %

Total shareholders’ equity, no minority interest, stood at SAR 185.9 million by Dec. 31, 2024, compared to SAR 112.7 million a year earlier.

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