| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 123.63 | 120.54 | (2.5 %) |
| Gross Income | 5.83 | 1.22 | (79.0 %) |
| Operating Income | (10.18) | (16.33) | (60.4 %) |
| Net Income | (12.46) | (19.17) | (53.9 %) |
| Average Shares | 35.40 | 35.40 | - |
| EPS (Riyals) | (0.35) | (0.54) | (53.9 %) |
This was attributed to lower sales of axles, spare parts, and casting products, and decreased average selling prices of drawn wire products.
Maadaniyah incurred a net loss of SAR 11.8 million in Q2 2024, compared to SAR 7.56 million in the year-earlier period.
The company cited lower sales of axles, spare parts, and casting products as well as decreased average selling prices of drawn wire products.
It also reported higher selling and distribution expenses and increased provisions for expected credit losses.
On a quarterly basis, Q2 2024 net loss widened from SAR 7.39 million in Q1 2024.
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 57.88 | 56.24 | (2.8 %) |
| Gross Income | 1.92 | (0.39) | (120.4 %) |
| Operating Income | (5.77) | (10.38) | (79.8 %) |
| Net Income | (7.56) | (11.78) | (55.9 %) |
| Average Shares | 35.40 | 35.40 | - |
| EPS (Riyals) | (0.21) | (0.33) | (55.9 %) |
| Item | Q1 2024 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 64.31 | 56.24 | (12.5 %) |
| Gross Income | 1.61 | (0.39) | (124.2 %) |
| Operating Income | (5.72) | (10.38) | (81.5 %) |
| Net Income | (7.39) | (11.78) | (59.5 %) |
| Average Shares | 35.40 | 35.40 | - |
| EPS (Riyals) | (0.21) | (0.33) | (59.5 %) |
Total shareholders’ equity (after deducting minority equity) reached SAR 265.1 million by June 30, 2024, compared to SAR 303.1 million in the corresponding period of the year before.
Accumulated loss reached SAR 88.9 million by June 30, 2024, accounting for 25% of capital.
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