Electrical Industries’ net profit rises to SAR 201M in 2023; Q4 up 49% to SAR 59.5M

Electrical Industries Co.’s net profit leapt to SAR 201 million in 2023, compared to SAR 94.2 million a year ago.

Financials (M)

Item	2022	2023	Change‬
Revenues	1,066.09	1,559.35	46.3 %
Gross Income	237.62	401.30	68.9 %
Operating Income	133.71	268.24	100.6 %
Net Income	94.17	201.03	113.5 %
Average Shares	1,125.00	1,125.00	-
EPS (Halala)	8.37	17.87	113.5 %

The profit hike came as sales grew year-on-year (YoY) to SAR 1.55 billion in 2023 amid increased demand across all sectors in the Kingdom. This rise in sales was particularly evident in high-voltage substation projects, distribution network infrastructure projects, and a series of new industrial projects including the oil & gas sector.

Electrical Industries net profit for 2023 also surged due to the diversification of products sold, some of which had the highest profit margins, along with improved profit margins for some other products.

This came despite higher selling & distribution and general & administrative expenses amid soaring sales in 2023. Financing costs also grew YoY during the same year, paired with an increase in the provision for expected credit losses of SAR 7.5 million.

Additionally, the company witnessed an uptick in Zakat and income tax expenses, including an additional allocation of SAR 4 million for the previous years.

In Q4 2023, Electrical Industries’ bottom line reached SAR 59.5 million, up 49% from SAR 39.85 million in the prior-year period.

Sequentially, net income advanced from SAR 56.43 million in Q3 2023.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	364.90	411.86	12.9 %
Gross Income	89.96	125.46	39.5 %
Operating Income	61.13	82.75	35.4 %
Net Income	39.85	59.47	49.2 %
Average Shares	1,125.00	1,125.00	-
EPS (Halala)	3.54	5.29	49.2 %

Item	Q3 2023	Q4 2023	Change‬
Revenues	392.65	411.86	4.9 %
Gross Income	102.85	125.46	22.0 %
Operating Income	73.61	82.75	12.4 %
Net Income	56.43	59.47	5.4 %
Average Shares	1,125.00	1,125.00	-
EPS (Halala)	5.02	5.29	5.4 %

Total shareholders’ equity, no minority interest, stood at SAR 744.8 million as of Dec. 31, 2023, increasing from SAR 630.8 million in the year before.

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Share Price

Electrical Industries Co. (EIC)

	Current
Market Cap (M Riyal)	8,865.00
Enterprise Value (EV) (M)	9,082.36
Shares Outstanding ((M))	1,125.00
EPS (Halala) (TTM)	31.70
Book Value (BV) ( Riyal)	0.75
Par Value ( Halala)	50.00
Adjusted P/E (Last12)	22.92
P/E (TTM)	24.86
Price/book	10.49
Return on Average Assets (%) (TTM)	17.7
Return on Average Equity (%) (TTM)	46.6

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	346.75	13.7 %	79.63	6.0 %	55.64	1.7 %
Q2 2014	305.29	(9.9 %)	72.48	36.0 %	50.89	58.1 %
Q3 2014	164.51	(39.0 %)	32.38	(26.5 %)	15.64	(40.5 %)
Q4 2014	230.30	(38.0 %)	67.16	(28.4 %)	50.16	(26.2 %)
2014	1,046.86	(18.5 %)	251.64	(5.5 %)	172.33	(4.9 %)
Q1 2015	200.41	(42.2 %)	39.30	(50.6 %)	22.74	(59.1 %)
Q2 2015	196.60	(35.6 %)	38.45	(47.0 %)	23.49	(53.8 %)
Q3 2015	191.27	16.3 %	32.86	1.5 %	14.23	(9.0 %)
Q4 2015	240.95	4.6 %	33.81	(49.7 %)	12.70	(74.7 %)
2015	829.24	(20.8 %)	143.84	(42.8 %)	72.94	(57.7 %)
Q1 2016	220.84	10.2 %	35.73	(9.1 %)	15.08	(33.7 %)
Q2 2016	233.85	18.9 %	28.90	(24.8 %)	8.46	(64.0 %)
Q3 2016	206.32	7.9 %	36.91	12.4 %	15.59	9.6 %
Q4 2016	223.75	(7.1 %)	40.73	20.5 %	24.20	90.5 %
2016	884.76	6.7 %	142.27	(1.1 %)	63.34	(13.2 %)
Q1 2017	189.11	(14.4 %)	38.17	6.8 %	13.10	(13.2 %)
Q2 2017	230.29	(1.5 %)	41.52	43.7 %	17.21	103.3 %
Q3 2017	227.39	10.2 %	39.15	6.1 %	13.11	(15.9 %)
Q4 2017	223.03	(0.3 %)	42.33	3.9 %	23.83	(1.6 %)
2017	869.82	(1.7 %)	161.18	13.3 %	67.24	6.2 %
Q1 2018	184.85	(2.3 %)	35.27	(7.6 %)	14.66	11.9 %
Q2 2018	156.53	(32.0 %)	22.49	(45.8 %)	6.33	(63.2 %)
Q3 2018	174.10	(23.4 %)	30.91	(21.1 %)	8.78	(33.0 %)
Q4 2018	190.41	(14.6 %)	13.80	(67.4 %)	0.01	(100.0 %)
2018	705.89	(18.8 %)	102.47	(36.4 %)	29.78	(55.7 %)
Q1 2019	106.18	(42.6 %)	18.98	(46.2 %)	1.56	(89.4 %)
Q2 2019	154.50	(1.3 %)	19.44	(13.6 %)	1.15	(81.8 %)
Q3 2019	132.80	(23.7 %)	22.03	(28.7 %)	7.01	(20.2 %)
Q4 2019	184.08	(3.3 %)	11.97	(13.3 %)	(6.59)	(73333.3 %)
2019	577.56	(18.2 %)	72.41	(29.3 %)	3.13	(89.5 %)
Q1 2020	139.50	31.4 %	24.99	31.7 %	7.70	393.4 %
Q2 2020	109.64	(29.0 %)	8.92	(54.1 %)	(7.76)	(773.8 %)
Q3 2020	148.07	11.5 %	24.81	12.6 %	10.69	52.6 %
Q4 2020	251.48	36.6 %	52.79	341.1 %	33.65	610.5 %
2020	648.69	12.3 %	111.50	54.0 %	44.28	1316.6 %
Q1 2021	167.83	20.3 %	31.41	25.7 %	11.45	48.6 %
Q2 2021	165.62	51.1 %	29.81	234.2 %	10.46	234.8 %
Q3 2021	207.63	40.2 %	41.90	68.9 %	14.42	34.9 %
Q4 2021	229.61	(8.7 %)	46.43	(12.0 %)	30.50	(9.4 %)
2021	770.69	18.8 %	149.55	34.1 %	66.83	50.9 %
Q1 2022	229.08	36.5 %	39.88	27.0 %	17.41	52.0 %
Q2 2022	226.86	37.0 %	51.64	73.2 %	24.35	132.8 %
Q3 2022	245.25	18.1 %	56.15	34.0 %	30.82	113.7 %
Q4 2022	364.90	58.9 %	89.96	93.7 %	61.13	100.4 %
2022	1,066.09	38.3 %	237.62	58.9 %	133.71	100.1 %
Q1 2023	380.17	66.0 %	78.83	97.7 %	48.03	175.9 %
Q2 2023	374.68	65.2 %	94.16	82.3 %	63.85	162.2 %
Q3 2023	392.65	60.1 %	102.85	83.2 %	73.61	138.8 %
Q4 2023	411.86	12.9 %	125.46	39.5 %	82.75	35.4 %
2023	1,559.35	46.3 %	401.30	68.9 %	268.24	100.6 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	1,046.86	(18.5 %)	251.64	(5.5 %)	172.33	(4.9 %)
2015	829.24	(20.8 %)	143.84	(42.8 %)	72.94	(57.7 %)
2016	884.76	6.7 %	142.27	(1.1 %)	63.34	(13.2 %)
2017	869.82	(1.7 %)	161.18	13.3 %	67.24	6.2 %
2018	705.89	(18.8 %)	102.47	(36.4 %)	29.78	(55.7 %)
2019	577.56	(18.2 %)	72.41	(29.3 %)	3.13	(89.5 %)
2020	648.69	12.3 %	111.50	54.0 %	44.28	1316.6 %
2021	770.69	18.8 %	149.55	34.1 %	66.83	50.9 %
2022	1,066.09	38.3 %	237.62	58.9 %	133.71	100.1 %
2023	1,559.35	46.3 %	401.30	68.9 %	268.24	100.6 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	55.49	10.2 %	4.93	0.71	54.78	0.05
Q2 2014	44.67	64.7 %	3.97	2.28	42.39	0.04
Q3 2014	12.71	(43.1 %)	1.13	(9.26)	21.97	0.02
Q4 2014	58.99	(10.8 %)	5.24	12.90	46.09	0.04
2014	171.86	3.6 %	15.28	6.63	165.23	0.15
Q1 2015	28.79	(48.1 %)	2.56	6.58	22.22	0.02
Q2 2015	19.96	(55.3 %)	1.77	2.96	17.00	0.02
Q3 2015	9.47	(25.5 %)	0.84	(0.27)	9.74	0.01
Q4 2015	12.14	(79.4 %)	1.08	1.50	10.64	0.01
2015	70.36	(59.1 %)	6.25	10.77	59.60	0.05
Q1 2016	9.44	(67.2 %)	0.84	-	9.44	0.01
Q2 2016	9.78	(51.0 %)	0.87	-	9.78	0.01
Q3 2016	10.49	10.8 %	0.93	-	10.49	0.01
Q4 2016	19.67	62.0 %	1.75	-	19.67	0.02
2016	49.38	(29.8 %)	4.39	-	49.38	0.04
Q1 2017	10.65	12.7 %	0.95	-	10.65	0.01
Q2 2017	10.92	11.7 %	0.97	-	10.92	0.01
Q3 2017	11.44	9.1 %	1.02	-	11.44	0.01
Q4 2017	24.32	23.6 %	2.16	-	24.32	0.02
2017	57.32	16.1 %	5.10	-	57.32	0.05
Q1 2018	11.01	3.4 %	0.98	-	11.01	0.01
Q2 2018	1.94	(82.3 %)	0.17	-	1.94	0.00
Q3 2018	4.32	(62.3 %)	0.38	-	4.32	0.00
Q4 2018	(10.14)	(141.7 %)	(0.90)	(7.80)	(2.34)	0.00
2018	7.11	(87.6 %)	0.63	(7.80)	14.91	0.01
Q1 2019	(4.16)	(137.8 %)	(0.37)	-	(4.16)	0.00
Q2 2019	(1.72)	(188.8 %)	(0.15)	-	(1.72)	0.00
Q3 2019	(1.50)	(134.8 %)	(0.13)	-	(1.50)	0.00
Q4 2019	(32.81)	(223.4 %)	(2.92)	(21.70)	(11.11)	(0.01)
2019	(40.19)	(665.1 %)	(3.57)	(21.70)	(18.49)	(0.02)
Q1 2020	0.85	120.4 %	0.08	(2.40)	3.25	0.00
Q2 2020	(11.58)	(572.6 %)	(1.03)	-	(11.58)	(0.01)
Q3 2020	6.77	550.8 %	0.60	-	6.77	0.01
Q4 2020	27.88	185.0 %	2.48	-	27.88	0.02
2020	23.92	159.5 %	2.13	(2.40)	26.32	0.02
Q1 2021	6.96	720.6 %	0.62	-	6.96	0.01
Q2 2021	8.00	169.1 %	0.71	-	8.00	0.01
Q3 2021	10.14	49.7 %	0.90	-	10.14	0.01
Q4 2021	23.75	(14.8 %)	2.11	-	23.75	0.02
2021	48.85	104.2 %	4.34	-	48.85	0.04
Q1 2022	12.17	74.9 %	1.08	-	12.17	0.01
Q2 2022	18.54	131.8 %	1.65	-	18.54	0.02
Q3 2022	23.60	132.8 %	2.10	-	23.60	0.02
Q4 2022	39.85	67.8 %	3.54	-	39.85	0.04
2022	94.17	92.8 %	8.37	-	94.17	0.08
Q1 2023	35.14	188.6 %	3.12	-	35.14	0.03
Q2 2023	50.00	169.7 %	4.44	-	50.00	0.04
Q3 2023	56.43	139.1 %	5.02	(2.74)	59.17	0.05
Q4 2023	59.47	49.2 %	5.29	(4.00)	63.47	0.06
2023	201.03	113.5 %	17.87	(6.74)	207.78	0.18

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	171.86	3.6 %	15.28	6.63	165.23	0.15
2015	70.36	(59.1 %)	6.25	10.77	59.60	0.05
2016	49.38	(29.8 %)	4.39	-	49.38	0.04
2017	57.32	16.1 %	5.10	-	57.32	0.05
2018	7.11	(87.6 %)	0.63	(7.80)	14.91	0.01
2019	(40.19)	(665.1 %)	(3.57)	(21.70)	(18.49)	(0.02)
2020	23.92	159.5 %	2.13	(2.40)	26.32	0.02
2021	48.85	104.2 %	4.34	-	48.85	0.04
2022	94.17	92.8 %	8.37	-	94.17	0.08
2023	201.03	113.5 %	17.87	(6.74)	207.78	0.18

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	20.41 %	15.37 %	12.84 %
Q2 2014	22.42 %	17.41 %	14.35 %
Q3 2014	23.43 %	17.69 %	15.59 %
Q4 2014	24.04 %	18.85 %	15.78 %
2014	24.04 %	18.85 %	15.78 %
Q1 2015	23.47 %	18.36 %	14.73 %
Q2 2015	22.39 %	17.56 %	13.55 %
Q3 2015	21.72 %	16.86 %	11.61 %
Q4 2015	17.41 %	12.27 %	7.19 %
2015	17.35 %	12.25 %	7.19 %
Q1 2016	16.58 %	11.26 %	5.51 %
Q2 2016	14.80 %	9.00 %	4.47 %
Q3 2016	15.01 %	8.63 %	4.47 %
Q4 2016	16.08 %	10.44 %	5.58 %
2016	16.08 %	10.44 %	5.58 %
Q1 2017	16.96 %	10.50 %	5.93 %
Q2 2017	18.52 %	11.82 %	6.09 %
Q3 2017	18.33 %	11.78 %	6.05 %
Q4 2017	18.53 %	11.40 %	6.59 %
2017	18.53 %	11.40 %	6.59 %
Q1 2018	18.29 %	11.64 %	6.66 %
Q2 2018	17.59 %	11.21 %	6.15 %
Q3 2018	17.74 %	11.03 %	5.63 %
Q4 2018	14.52 %	8.01 %	2.11 %
2018	14.52 %	8.01 %	2.11 %
Q1 2019	13.74 %	6.85 %	(0.04 %)
Q2 2019	13.30 %	5.89 %	(0.63 %)
Q3 2019	12.72 %	6.26 %	(1.67 %)
Q4 2019	12.54 %	4.85 %	(3.20 %)
2019	12.54 %	4.85 %	(3.20 %)
Q1 2020	12.84 %	5.43 %	(1.81 %)
Q2 2020	12.00 %	4.29 %	(3.70 %)
Q3 2020	12.16 %	4.72 %	(2.18 %)
Q4 2020	17.19 %	10.72 %	4.06 %
2020	17.19 %	10.72 %	4.06 %
Q1 2021	17.42 %	10.83 %	4.44 %
Q2 2021	18.94 %	12.74 %	6.77 %
Q3 2021	19.67 %	12.39 %	6.68 %
Q4 2021	19.40 %	12.40 %	6.34 %
2021	19.40 %	12.40 %	6.34 %
Q1 2022	18.99 %	12.30 %	6.50 %
Q2 2022	20.14 %	12.94 %	7.23 %
Q3 2022	20.85 %	14.09 %	8.39 %
Q4 2022	22.29 %	15.15 %	8.83 %
2022	22.29 %	15.15 %	8.83 %
Q1 2023	22.72 %	15.77 %	9.62 %
Q2 2023	23.38 %	16.90 %	10.89 %
Q3 2023	24.19 %	18.11 %	12.18 %
Q4 2023	25.73 %	18.97 %	13.32 %
2023	25.73 %	18.97 %	13.32 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	24.04 %	18.85 %	15.78 %
2015	17.35 %	12.25 %	7.19 %
2016	16.08 %	10.44 %	5.58 %
2017	18.53 %	11.40 %	6.59 %
2018	14.52 %	8.01 %	2.11 %
2019	12.54 %	4.85 %	(3.20 %)
2020	17.19 %	10.72 %	4.06 %
2021	19.40 %	12.40 %	6.34 %
2022	22.29 %	15.15 %	8.83 %
2023	25.73 %	18.97 %	13.32 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	22.96 %	17.76 %	15.80 %
Q2 2014	23.74 %	18.67 %	13.89 %
Q3 2014	19.68 %	13.50 %	13.36 %
Q4 2014	29.16 %	24.56 %	20.01 %
Q1 2015	19.61 %	14.74 %	11.09 %
Q2 2015	19.56 %	15.64 %	8.64 %
Q3 2015	17.18 %	11.04 %	5.09 %
Q4 2015	14.03 %	8.46 %	4.42 %
Q1 2016	16.18 %	10.59 %	4.28 %
Q2 2016	12.36 %	6.38 %	4.18 %
Q3 2016	17.89 %	9.29 %	5.08 %
Q4 2016	18.20 %	15.61 %	8.79 %
Q1 2017	20.18 %	10.89 %	5.63 %
Q2 2017	18.03 %	11.18 %	4.74 %
Q3 2017	17.22 %	9.38 %	5.03 %
Q4 2017	18.98 %	14.13 %	10.90 %
Q1 2018	19.08 %	12.01 %	5.95 %
Q2 2018	14.37 %	8.75 %	1.24 %
Q3 2018	17.75 %	8.08 %	2.48 %
Q4 2018	7.25 %	3.46 %	(1.23 %)
Q1 2019	17.87 %	8.08 %	(3.92 %)
Q2 2019	12.58 %	4.91 %	(1.11 %)
Q3 2019	16.59 %	10.37 %	(1.13 %)
Q4 2019	6.50 %	(1.04 %)	(6.03 %)
Q1 2020	17.91 %	9.86 %	2.33 %
Q2 2020	8.14 %	(1.22 %)	(10.56 %)
Q3 2020	16.75 %	11.45 %	4.57 %
Q4 2020	20.99 %	15.96 %	11.09 %
Q1 2021	18.71 %	10.48 %	4.15 %
Q2 2021	18.00 %	11.30 %	4.83 %
Q3 2021	20.18 %	10.48 %	4.88 %
Q4 2021	20.22 %	16.33 %	10.34 %
Q1 2022	17.41 %	10.65 %	5.31 %
Q2 2022	22.76 %	14.09 %	8.17 %
Q3 2022	22.89 %	15.22 %	9.62 %
Q4 2022	24.65 %	18.58 %	10.92 %
Q1 2023	20.73 %	14.44 %	9.24 %
Q2 2023	25.13 %	18.87 %	13.35 %
Q3 2023	26.19 %	20.52 %	15.07 %
Q4 2023	30.46 %	21.79 %	15.41 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
Q1 2014	1,125.00	15.21	15.14	0.53
Q2 2014	1,125.00	16.77	16.50	0.49
Q3 2014	1,125.00	15.91	16.47	0.50
Q4 2014	1,125.00	15.28	14.69	0.56
Q1 2015	1,125.00	12.90	11.79	0.58
Q2 2015	1,125.00	10.71	9.54	0.54
Q3 2015	1,125.00	10.42	8.45	0.55
Q4 2015	1,125.00	6.25	5.30	0.54
Q1 2016	1,125.00	4.53	4.16	0.54
Q2 2016	1,125.00	3.63	3.52	0.55
Q3 2016	1,125.00	3.72	3.59	0.56
Q4 2016	1,125.00	4.39	4.39	0.57
Q1 2017	1,125.00	4.50	4.50	0.58
Q2 2017	1,125.00	4.60	4.60	0.56
Q3 2017	1,125.00	4.68	4.68	0.57
Q4 2017	1,125.00	5.10	5.10	0.56
Q1 2018	1,125.00	5.13	5.13	0.57
Q2 2018	1,125.00	4.33	4.33	0.53
Q3 2018	1,125.00	3.70	3.70	0.54
Q4 2018	1,125.00	0.63	1.33	0.53
Q1 2019	1,125.00	(0.72)	(0.02)	0.53
Q2 2019	1,125.00	(1.04)	(0.35)	0.53
Q3 2019	1,125.00	(1.56)	(0.86)	0.53
Q4 2019	1,125.00	(3.57)	(1.64)	0.49
Q1 2020	1,125.00	(3.13)	(0.99)	0.49
Q2 2020	1,125.00	(4.00)	(1.86)	0.48
Q3 2020	1,125.00	(3.27)	(1.13)	0.49
Q4 2020	1,125.00	2.13	2.34	0.50
Q1 2021	1,125.00	2.67	2.67	0.51
Q2 2021	1,125.00	4.41	4.41	0.50
Q3 2021	1,125.00	4.71	4.71	0.50
Q4 2021	1,125.00	4.34	4.34	0.52
Q1 2022	1,125.00	4.81	4.81	0.53
Q2 2022	1,125.00	5.74	5.74	0.51
Q3 2022	1,125.00	6.94	6.94	0.53
Q4 2022	1,125.00	8.37	8.37	0.56
Q1 2023	1,125.00	10.41	10.41	0.59
Q2 2023	1,125.00	13.21	13.21	0.64
Q3 2023	1,125.00	16.13	16.37	0.61
Q4 2023	1,125.00	17.87	18.47	0.66

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2014	1,125.00	15.28	14.69	0.56
2015	1,125.00	6.25	5.30	0.54
2016	1,125.00	4.39	4.39	0.57
2017	1,125.00	5.10	5.10	0.56
2018	1,125.00	0.63	1.33	0.53
2019	1,125.00	(3.57)	(1.64)	0.49
2020	1,125.00	2.13	2.34	0.50
2021	1,125.00	4.34	4.34	0.52
2022	1,125.00	8.37	8.37	0.56
2023	1,125.00	17.87	18.47	0.66

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	14.57	15.16	4.00
Q1 2015	17.70	19.36	3.92
Q2 2015	20.77	23.32	4.12
Q3 2015	15.94	19.65	3.03
Q4 2015	21.69	25.60	2.52
Q1 2016	21.72	23.67	1.83
Q2 2016	28.18	29.05	1.87
Q3 2016	19.31	20.02	1.29
Q4 2016	22.05	22.05	1.69
Q1 2017	22.18	22.18	1.71
Q2 2017	17.28	17.28	1.43
Q3 2017	17.66	17.66	1.46
Q4 2017	16.62	16.62	1.50
Q1 2018	18.15	18.15	1.63
Q2 2018	20.30	20.30	1.65
Q3 2018	20.31	20.31	1.40
Q4 2018	More than 100	50.89	1.27
Q1 2019	NEG	NEG	1.37
Q2 2019	NEG	NEG	1.24
Q3 2019	NEG	NEG	1.17
Q4 2019	NEG	NEG	1.28
Q1 2020	NEG	NEG	1.00
Q2 2020	NEG	NEG	1.21
Q3 2020	NEG	NEG	1.84
Q4 2020	48.35	43.94	2.05
Q1 2021	44.88	44.88	2.35
Q2 2021	31.71	31.71	2.82
Q3 2021	27.02	27.02	2.52
Q4 2021	25.43	25.43	2.11
Q1 2022	24.19	24.19	2.18
Q2 2022	16.19	16.19	1.83
Q3 2022	14.90	14.90	1.95
Q4 2022	11.23	11.23	1.68
Q1 2023	13.08	13.08	2.30
Q2 2023	13.40	13.40	2.78
Q3 2023	12.71	12.52	3.36
Q4 2023	15.89	15.38	4.29

Period	P/E	Adjusted P/E	Price/book
2014	14.57	15.16	4.00
2015	21.69	25.60	2.52
2016	22.05	22.05	1.69
2017	16.62	16.62	1.50
2018	More than 100	50.89	1.27
2019	NEG	NEG	1.28
2020	48.35	43.95	2.05
2021	25.43	25.43	2.11
2022	11.23	11.23	1.68
2023	15.89	15.38	4.29

Business Segments (Million)

Compared With The

Period	Manufacturing sector	services segment
Q1 2014	330.07	16.68
Q2 2014	290.20	15.09
Q3 2014	149.70	14.82
Q4 2014	208.78	21.52
Q1 2015	179.38	21.03
Q2 2015	182.40	14.20
Q3 2015	181.75	9.53
Q4 2015	221.18	19.77
Q1 2016	206.90	13.93
Q2 2016	219.92	13.94
Q3 2016	193.20	13.12
Q4 2016	211.01	12.74
Q1 2017	176.34	12.77
Q2 2017	216.57	13.72
Q3 2017	213.68	13.71
Q4 2017	206.09	16.94
Q1 2018	171.99	12.86
Q2 2018	142.47	14.06
Q3 2018	159.97	14.13
Q4 2018	175.30	15.11
Q1 2019	94.99	11.19
Q2 2019	142.93	11.56
Q3 2019	118.35	14.45
Q4 2019	167.20	16.88
Q1 2020	123.54	15.95
Q2 2020	99.19	10.45
Q3 2020	134.87	13.19
Q4 2020	232.15	19.33
Q1 2021	154.01	13.82
Q2 2021	149.17	16.45
Q3 2021	193.46	14.17
Q4 2021	205.61	24.00
Q1 2022	216.87	12.20
Q2 2022	208.65	18.21
Q3 2022	233.67	11.58
Q4 2022	331.33	33.57
Q1 2023	365.36	14.81
Q2 2023	355.15	19.52
Q3 2023	379.42	13.23
Q4 2023	370.45	41.41

Period	Manufacturing sector	services segment
2014	978.75	68.11
2015	764.71	64.53
2016	827.40	57.36
2017	812.68	57.14
2018	649.73	56.16
2019	523.47	54.08
2020	589.76	58.93
2021	702.25	68.44
2022	990.53	75.56
2023	1,470.38	88.97

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Electrical Industries’ net profit rises to SAR 201M in 2023; Q4 up 49% to SAR 59.5M

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Electrical Industries Co. (EIC)

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Electrical Industries’ net profit rises to SAR 201M in 2023; Q4 up 49% to SAR 59.5M

Financials (M)

Current Quarter Comparison (M)

View other reports

Share Price

Electrical Industries Co. (EIC)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2023

Revenue by Business Segment (Latest) 2023 Q4

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