Basic Chemical Industries Co.’s (BCI) net profit after minority interest rose 55% to SAR 8.5 million for 2024, from SAR 5.5 million a year earlier.
Item | 2023 | 2024 | Change |
---|---|---|---|
Revenues | 741.11 | 755.58 | 2.0 % |
Gross Income | 167.96 | 181.14 | 7.8 % |
Operating Income | 64.26 | 64.26 | 0.0 % |
Net Income | 5.52 | 8.51 | 54.1 % |
Average Shares | 27.50 | 27.50 | - |
Earnings Per Share before unusual items (Riyals) | (0.28) | 0.01 | 102.9 % |
EPS (Riyals) | 0.20 | 0.31 | 54.1 % |
Before minorities, the annual net profit decreased to SAR 40.39 million, from SAR 43.98 million a year earlier.
The profit rise was spurred by better revenue due to an increase of SAR 16 million in the sales of basic chemical products. Sales volumes grew 5% year-on-year (YoY) leading to a rise of SAR 7 million in total revenue. Selling prices also rose 6% YoY, driving BCI’s topline up by SAR 9 million.
BCI reported a decline in finance costs, despite an increase in general and administrative expenses, as well as Zakat taxes.
The company reported a decline in profit from the sale of fixed assets and other operating income.
The fourth-quarter net earnings tumbled 71.7% to SAR 3.8 million, from SAR 13.5 million in Q4 2023.
Sequentially, net earnings jumped 67.2% from SAR 2.2 million in Q3 2024.
Item | Q4 2023 | Q4 2024 | Change |
---|---|---|---|
Revenues | 185.21 | 190.21 | 2.7 % |
Gross Income | 44.24 | 46.53 | 5.2 % |
Operating Income | 14.59 | 15.74 | 7.9 % |
Net Income | 13.51 | 3.80 | (71.9 %) |
Average Shares | 27.50 | 27.50 | - |
Earnings Per Share before unusual items (Riyals) | 0.01 | 0.10 | 1301.9 % |
EPS (Riyals) | 0.49 | 0.14 | (71.9 %) |
Item | Q3 2024 | Q4 2024 | Change |
---|---|---|---|
Revenues | 198.07 | 190.21 | (4.0 %) |
Gross Income | 44.91 | 46.53 | 3.6 % |
Operating Income | 11.97 | 15.74 | 31.6 % |
Net Income | 2.28 | 3.80 | 66.3 % |
Average Shares | 27.50 | 27.50 | - |
Earnings Per Share before unusual items (Riyals) | (0.17) | 0.10 | 154.4 % |
EPS (Riyals) | 0.08 | 0.14 | 66.3 % |
Total shareholders’ equity, after minority interest, stood at SAR 600.98 million as of Dec. 31, 2024, up from SAR 592.35 million a year earlier.
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