Financial Results : Enma AlRawabi’s profit up 33% to SAR 42.2M in 2023

Enma AlRawabi’s profit up 33% to SAR 42.2M in 2023

10/03/2024 Argaam Exclusive

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Enma AlRawabi Co. reported a 33% leap in 2023 net profit to SAR 42.2 million from SAR 31.8 million in 2022.



Financials (M)

Item 2022 2023 Change‬
Revenues 48.13 61.74 28.3 %
Gross Income 37.75 50.68 34.3 %
Operating Income 33.36 44.07 32.1 %
Net Income 31.84 42.18 32.5 %
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items 0.80 1.05 32.5 %
EPS (Riyals) 0.80 1.05 32.5 %

The profit growth was due to the increase in the rental value of some rental units and the addition of a new property, coupled with the year-on-year (YoY) drop in Zakat expenses.



Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 28.08 40.22 43.2 %
Gross Income 22.98 34.66 50.8 %
Operating Income 21.41 31.10 45.3 %
Net Income 19.46 29.98 54.1 %
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items 0.49 0.75 54.1 %
EPS (Riyals) 0.49 0.75 54.1 %

Total shareholders’ equity, no minority interest, reached SAR 556.22 million as of Dec. 31, 2023, compared to SAR 524.32 million a year earlier.

 

Historical Data

Period

Revenues

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2020

17.15

10.23

0.26

H2 2020

25.38

13.11

0.32

H1 2021

19.60

12.82

0.32

H2 2021

19.38

9.17

0.23

H1 2022

20.05

12.38

0.31

H2 2022

28.08

19.46

0.49

H1 2023

21.52

12.20

0.31

H2 2023

40.22

29.98

0.75

 

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