Financial Results : BCI’s 2024 profit jumps 55% to SAR 8.5M; Q4 at SAR 3.8M

BCI’s 2024 profit jumps 55% to SAR 8.5M; Q4 at SAR 3.8M

06/03/2025 Argaam Exclusive

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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.



Financials (M)

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.



Current Quarter Comparison (M)

Compared With The
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 %)

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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