National Building and Marketing Co.’s net profit (excluding minority interest) dropped to SAR 15.4 million in the first half of 2024, down 41% from SAR 26.2 million in the year before.
Item | 6m 2023 | 6m 2024 | Change |
---|---|---|---|
Revenues | 316.46 | 345.86 | 9.3 % |
Gross Income | 42.00 | 52.14 | 24.1 % |
Operating Income | 32.50 | 40.89 | 25.8 % |
Net Income | 26.24 | 15.38 | (41.4 %) |
Average Shares | 12.00 | 12.00 | - |
EPS (Riyals) | 2.19 | 1.28 | (41.4 %) |
Item | H1 2023 | H1 2024 | Change |
---|---|---|---|
Revenues | 316.46 | 345.86 | 9.3 % |
Gross Income | 42.00 | 52.14 | 24.1 % |
Operating Income | 32.50 | 40.89 | 25.8 % |
Net Income | 26.24 | 15.38 | (41.4 %) |
Average Shares | 12.00 | 12.00 | - |
EPS (Riyals) | 2.19 | 1.28 | (41.4 %) |
Item | H2 2023 | H1 2024 | Change |
---|---|---|---|
Revenues | 384.15 | 345.86 | (10.0 %) |
Gross Income | 42.14 | 52.14 | 23.7 % |
Operating Income | 28.08 | 40.89 | 45.7 % |
Net Income | 4.37 | 15.38 | 251.7 % |
Average Shares | 12.00 | 12.00 | - |
EPS (Riyals) | 0.36 | 1.28 | 251.7 % |
This earnings decline was mainly due to a 39.29% year-on-year (YoY) rise in financing costs in the first six months of the year.
However, sales in the iron, billet, and reinforcement segments improved by 12.43% YoY in the same period.
Shareholders’ equity, after minority interest, reached SAR 311.21 million as of June 30, 2024, compared to SAR 291.45 million a year earlier.
Historical Data |
|||
Period |
Revenues (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
H1 2021 |
298.03 |
25.09 |
2.09 |
H2 2021 |
380.39 |
48.31 |
4.03 |
H1 2022 |
320.75 |
32.65 |
2.72 |
H2 2022 |
331.44 |
6.09 |
0.51 |
H1 2023 |
316.46 |
26.24 |
2.19 |
H2 2023 |
384.15 |
4.37 |
0.36 |
H1 2024 |
345.86 |
15.24 |
1.27 |
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