Financial Results : Alandalus Property profit down 2% to SAR 66.8 mln in 2022; Q4 jumps 29% to SAR 13.5 mln

Alandalus Property profit down 2% to SAR 66.8 mln in 2022; Q4 jumps 29% to SAR 13.5 mln

12/03/2023 Argaam Exclusive

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Alandalus Property Co. posted a 2% decline in 2022 net profit to SAR 66.8 million, from SAR 68 million in 2021. The decline was attributed to a 48% increase year-on-year (YoY) in finance costs.  

 

The fourth-quarter net profit climbed 29% to SAR 13.5 million, from SAR 10.4 million in Q4 2021. 



Financials (M)

Item 2021 2022 Change‬
Revenues 214.39 216.11 0.8 %
Gross Income 145.03 142.41 (1.8 %)
Operating Income 96.69 96.13 (0.6 %)
Net Income 67.98 66.77 (1.8 %)
Average Shares 93.33 93.33 -
EPS (Riyals) 0.73 0.72 (1.8 %)

Gross profit declined on higher cost of revenues, especially in the retail and hospitality segments.

 

The fourth-quarter net profit climbed 29% to SAR 13.5 million, from SAR 10.4 million in Q4 2021.

 

The company’s net profit fell by 25.3% from SAR 18 million in Q3 2022.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 56.04 55.45 (1.1 %)
Gross Income 38.47 32.83 (14.7 %)
Operating Income 22.16 22.38 1.0 %
Net Income 10.42 13.48 29.3 %
Average Shares 93.33 93.33 -
EPS (Riyals) 0.11 0.14 29.3 %

Total shareholders’ equity, after minority interest, rose to SAR 1.08 billion as of Dec. 31, 2022, compared to SAR 1.06 billion a year earlier.

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