Financial Results : Al-Babtain 2024 net profit surges 88% to SAR 265.7M; Q4 at SAR 84.9M

Al-Babtain 2024 net profit surges 88% to SAR 265.7M; Q4 at SAR 84.9M

23/03/2025 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported a net profit of SAR 265.7 million in 2024, a jump of 88% from SAR 141.5 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 2,490.49 2,812.00 12.9 %
Gross Income 397.34 459.00 15.5 %
Operating Income 316.00 365.00 15.5 %
Net Income 141.49 265.70 87.8 %
Average Shares 63.95 63.95 -
Earnings Per Share before unusual items (Riyals) 2.19 3.41 55.8 %
EPS (Riyals) 2.21 4.16 87.8 %

This is due to an increase in sales, improved operating profit, as well as capital gains from the sale of investment properties at SAR 47.7 million.

 

The company reported higher revenue on increased sales volumes and secured new projects.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 550.64 678.46 23.2 %
Gross Income 127.68 132.71 3.9 %
Operating Income 108.35 113.75 5.0 %
Net Income 43.24 84.92 96.4 %
Average Shares 63.95 63.95 -
Earnings Per Share before unusual items (Riyals) 0.65 1.33 103.7 %
EPS (Riyals) 0.68 1.33 96.4 %

Q4 2024 net earnings surged 96% year-on-year (YoY) to SAR 84.9 million, from SAR 43.2 million.

 

Sequentially, bottom-line soared 93.6% from SAR 43.8 million in Q3 2024.

 

Total shareholders’ equity, excluding minority interest, stood at SAR 1.07 billion by Dec. 31, 2024, compared to SAR 905 million a year earlier.

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