Financial Results : UFG 2024 net profit up 11% to SAR 54.5M; H2 at SAR 28.5M

UFG 2024 net profit up 11% to SAR 54.5M; H2 at SAR 28.5M

27/03/2025 Argaam Exclusive

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Arabian United Float Glass Co.’s (UFG) net profit rose 11% to SAR 54.5 million in 2024, compared to SAR 49.2 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 278.84 292.41 4.9 %
Gross Income 102.11 116.22 13.8 %
Operating Income 61.14 65.62 7.3 %
Net Income 49.25 54.48 10.6 %
Average Shares 17.00 17.00 -
Earnings Per Share before unusual items (Riyals) 2.90 3.20 10.6 %
EPS (Riyals) 2.90 3.20 10.6 %

The profit increase was driven by higher sales volume of the company's products in 2024 compared to 2023 and lower production costs.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 138.57 164.66 18.8 %
Gross Income 48.20 63.90 32.6 %
Operating Income 25.68 35.23 37.2 %
Net Income 19.78 28.49 44.1 %
Average Shares 17.00 17.00 -
Earnings Per Share before unusual items (Riyals) 1.16 1.68 44.1 %
EPS (Riyals) 1.16 1.68 44.1 %

In H2 2024, the company reported a net profit of SAR 28.5 million, a 44.1% surge from SAR 19.78 million in H2 2023.

 

Sequentially, net profit grew 9.7% from SAR 25.99 million in H1 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 434.5 million by Dec. 31, 2024, compared to SAR 380.2 million a year ago.

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