Financial Results : Riyadh Cables profit up 58% to SAR 816.9M in 2024; Q4 at SAR 253.7M

Riyadh Cables profit up 58% to SAR 816.9M in 2024; Q4 at SAR 253.7M

10/03/2025 Argaam Exclusive

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Riyadh Cables Co. reported a net profit of SAR 816.9 million (before minority interest) in 2024, up 58% from SAR 518.5 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 7,825.38 9,007.36 15.1 %
Gross Income 972.76 1,286.52 32.3 %
Operating Income 647.61 968.44 49.5 %
Net Income 518.49 816.88 57.5 %
Average Shares 150.00 150.00 -
Earnings Per Share before unusual items (Riyals) 3.68 5.45 48.0 %
EPS (Riyals) 3.46 5.45 57.5 %

The annual profit hike was due to higher revenues driven by an increase in sales volumes, coupled with a diversified product mix.

 

The fourth-quarter net profit grew 89.4% to SAR 253.75 million, from SAR 133.96 million in Q4 2023.

 

The Q4 2024 earnings rose 8.1% from SAR 234.76 million in the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 1,889.86 2,496.52 32.1 %
Gross Income 238.11 332.28 39.5 %
Operating Income 170.81 286.11 67.5 %
Net Income 133.96 253.75 89.4 %
Average Shares 150.00 150.00 -
Earnings Per Share before unusual items (Riyals) 0.97 1.69 75.1 %
EPS (Riyals) 0.89 1.69 89.4 %

Total shareholders’ equity, excluding minority interest, reached SAR 2.62 billion by the end of 2024, compared to SAR 2.24 billion a year earlier.

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