National Gypsum swings to SAR 8.2M net loss in 9M 2024; Q3 at SAR 9.9M

11/11/2024 Argaam Exclusive

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National Gypsum Co. reported a net loss of SAR 8.2 million for the first nine months of 2024, against a net profit of SAR 11.1 million in the prior-year period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	40.90	50.00	22.2 %
Gross Income	8.51	7.82	(8.1 %)
Operating Income	0.33	0.28	(16.2 %)
Net Income	11.12	(8.16)	(173.4 %)
Average Shares	31.67	31.67	-
EPS (Riyals)	0.35	(0.26)	(173.4 %)

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	13.25	17.10	29.1 %
Gross Income	2.93	2.72	(7.0 %)
Operating Income	(0.38)	0.20	152.1 %
Net Income	9.05	(9.85)	(208.8 %)
Average Shares	31.67	31.67	-
EPS (Riyals)	0.29	(0.31)	(208.8 %)

Item	Q2 2024	Q3 2024	Change‬
Revenues	16.05	17.10	6.5 %
Gross Income	2.90	2.72	(6.2 %)
Operating Income	0.23	0.20	(14.2 %)
Net Income	0.90	(9.85)	(1193.0 %)
Average Shares	31.67	31.67	-
EPS (Riyals)	0.03	(0.31)	(1193.0 %)

The company incurred a net loss of SAR 9.9 million Q3 2024 versus a net profit of SAR 9.05 million in a year earlier.

On a sequential basis, the company turned to a net loss from a net profit of SAR 0.9 million in Q2 2024.

Total shareholders’ equity (no minority interest) stood at SAR 349.69 million by Sept. 30, 2024, compared to SAR 369 million a year earlier.

Accumulated loss reached SAR 62.27 million by Sept. 30, 2024, representing 19.66% of capital.

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