Electrical Industries 9M 2024 profit rises to SAR 297.2M; Q3 at SAR 121.4M

29/10/2024 Argaam Exclusive
1

Electrical Industries Co. (EIC) posted a net profit of SAR 297.2 million for the first nine months of 2024, up from SAR 141.6 million a year earlier.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 1,147.49 1,542.82 34.5 %
Gross Income 275.83 503.72 82.6 %
Operating Income 185.49 372.82 101.0 %
Net Income 141.57 297.20 109.9 %
Average Shares 1,125.00 1,125.00 -
Earnings Per Share before unusual items 0.13 0.29 124.0 %
EPS (Halala) 12.58 26.42 109.9 %

The annual profit increase came on the back of the year-on-year (YoY) revenue jump for 9M 2024, given the growing demand across all segments within Saudi Arabia.

 

The nine-month sales growth was especially notable in high-voltage station and infrastructure projects, along with new industrial projects, including those in the oil and gas sector.

 

Additionally, there was a diversification in the products sold and an increase in sales of higher-margin products.

 

The third-quarter net earnings jumped 115.1% to SAR 121.35 million, from SAR 56.43 million in Q3 2023, thanks to rising revenues. This came despite the increase in selling & distribution and general & administrative expenses.

 

On a quarterly basis, net profit grew by 20.6% from SAR 100.61 million in Q2 2024.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 392.65 505.85 28.8 %
Gross Income 102.85 185.77 80.6 %
Operating Income 73.61 134.66 82.9 %
Net Income 56.43 121.35 115.1 %
Average Shares 1,125.00 1,125.00 -
Earnings Per Share before unusual items 0.05 0.11 105.1 %
EPS (Halala) 5.02 10.79 115.1 %

Total shareholders’ equity, no minority interest, advanced to SAR 844.70 million as of Sept. 30, 2024, compared with SAR 686.91 million a year earlier.

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Share Price

Electrical Industries Co.
5.94
0.09 1.54 %

Electrical Industries Co. (EIC)

1 Day 1.54 % 5 Days (0.67 %) 3 Months (17.39 %) 6 Months (18.29 %) Year 32.00 % 2 Years 354.02 % 5 Years 1,124.99 % All 150.57 %
Created with Highstock 6.0.711:1013:0013:1013:3013:3513:4013:5013:5514:1014:1514:2514:5516.0516.116.1516.216.2516.316.3516.416.4516.516.55
Close : 16.44 | Mar 26, 14:55
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Financial Ratios
Current
Market Cap (M Riyal) 6,682.50
Enterprise Value (EV) (M) 6,560.01
Shares Outstanding ((M)) 1,125.00
EPS (Halala) (TTM) 35.71
Book Value (BV) ( Riyal) 0.84
Par Value ( Halala) 50.00
Adjusted P/E (Last12) 15.79
P/E (TTM) 16.63
Price/book 7.06
Return on Average Assets (%) (TTM) 20.9
Return on Average Equity (%) (TTM) 47.5
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Comments 1

1
16
1954

المحسن

منذ 4 شهر

من يصدق انها هي وبوبا نفس النشاط 

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