Financial Results : Electrical Industries earns SAR 401.7M in 2024, SAR 104.5M in Q4

Electrical Industries earns SAR 401.7M in 2024, SAR 104.5M in Q4

04/03/2025 Argaam Exclusive

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Electrical Industries Co.’s (EIC) net profit soared to SAR 401.7 million in 2024, from SAR 201 million a year ago.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,559.35 - -
Gross Income 401.30 - -
Operating Income 268.24 - -
Net Income 201.03 - -
Average Shares 1,125.00 - -
Earnings Per Share before unusual items (Halala) 18.47 - -
EPS (Halala) 17.87 - -

The profit growth was propelled by an increase in sales from SAR 1.55 billion to SAR 1.98 billion, paired with the diversification of the sold products that include products with higher profitability and better gross margins.

 

However, the company reported higher general, administrative, selling, and distribution expenses, as well as impairment loss on trade receivables.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 411.86 444.25 7.9 %
Gross Income 125.46 161.60 28.8 %
Operating Income 82.75 109.84 32.7 %
Net Income 59.47 104.53 75.8 %
Average Shares 1,125.00 1,125.00 -
Earnings Per Share before unusual items (Halala) 5.64 8.89 57.5 %
EPS (Halala) 5.29 9.29 75.8 %
In Q4 2024, EIC’s bottom line reached SAR 104.5 million, up 76% from SAR 59.5 million in the prior-year period.
Sequentially, net income fell 13.9% from SAR 121.35 million in Q3 2024.

Total shareholders’ equity, no minority interest, stood at SAR 946.06 million as of Dec. 31, 2024, increasing from SAR 744.79 million in the year before.

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