Nice One 9M 2024 net profit rises to SAR 65.9M; Q3 at SAR 25.8M

25/11/2024 Argaam Exclusive

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Nice One Beauty Digital Marketing Co., on track to make debut on the Main Market (TASI), posted SAR 65.9 million in net profit for the first nine months of 2024, compared to SAR 29.2 million in the same period a year earlier.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	512.76	696.48	35.8 %
Gross Income	156.85	200.22	27.7 %
Operating Income	30.76	71.26	131.7 %
Net Income	29.22	65.88	125.5 %
Average Shares	110.00	110.00	-
EPS (Riyals)	0.27	0.60	125.5 %

The annual profit rise was driven by the increase in the nine-month revenues to SAR 669.1 million, from SAR 490 million in 9M 2023. This is besides the decline in selling and marketing expenses, alongside the rise in the 9M 2024 EBITDA to SAR 76.2 million.

In Q3 2024, the company’s bottom line more than tripled to SAR 25.8 million, from SAR 8.07 million in the third quarter last year.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	167.54	237.65	41.8 %
Gross Income	50.72	63.20	24.6 %
Operating Income	9.79	27.44	180.3 %
Net Income	8.07	25.81	220.1 %
Average Shares	110.00	110.00	-
EPS (Riyals)	0.07	0.23	220.1 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	208.77	237.65	13.8 %
Gross Income	65.92	63.20	(4.1 %)
Operating Income	19.94	27.44	37.6 %
Net Income	18.17	25.81	42.1 %
Average Shares	110.00	110.00	-
EPS (Riyals)	0.17	0.23	42.1 %

Shareholders’ equity amounted to SAR 178.54 million by the end of 9M 2024, compared to SAR 117.69 million in prior-year period.

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