Riyadh Cables profit up 47% to SAR 565.5M in 9M 2023; Q3 at SAR 235.9M

03/11/2024 Argaam Exclusive

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Riyadh Cables Co. reported a net profit of SAR 565.5 million in the first nine months of 2024, up 47% from SAR 384.6 million a year earlier on higher sales revenue coupled with product mix.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	5,935.52	6,510.84	9.7 %
Gross Income	734.65	954.25	29.9 %
Operating Income	476.80	682.33	43.1 %
Net Income	384.62	565.50	47.0 %
Average Shares	150.00	150.00	-
EPS (Riyals)	2.56	3.77	47.0 %

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	2,080.72	2,433.15	16.9 %
Gross Income	279.21	401.47	43.8 %
Operating Income	164.22	280.25	70.7 %
Net Income	132.73	235.86	77.7 %
Average Shares	150.00	150.00	-
EPS (Riyals)	0.88	1.57	77.7 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	2,046.15	2,433.15	18.9 %
Gross Income	269.57	401.47	48.9 %
Operating Income	200.67	280.25	39.7 %
Net Income	159.43	235.86	47.9 %
Average Shares	150.00	150.00	-
EPS (Riyals)	1.06	1.57	47.9 %

The third-quarter net profit grew 78% to SAR 235.9 million from SAR 132.7 million in Q3 2023.

The Q3 2023 earnings rose 47.9% from SAR 159.4 million in the previous quarter.

Total shareholders’ equity, excluding minority interest, reached SAR 2.64 billion as of Sept. 30, 2024, compared to SAR 2.27 billion a year earlier.

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