Financial Results : MOBI’s 2024 profit jumps 24% to SAR 37.6M; H2 at SAR 15.9M

MOBI’s 2024 profit jumps 24% to SAR 37.6M; H2 at SAR 15.9M

26/03/2025 Argaam Exclusive

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MOBI Industry Co. reported a net profit leap of 24% to SAR 37.6 million in 2024 from SAR 30.4 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 198.84 230.69 16.0 %
Gross Income 68.77 85.44 24.2 %
Operating Income 30.50 37.90 24.3 %
Net Income 30.35 37.59 23.9 %
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyals) 0.61 0.75 23.9 %
EPS (Riyal) 0.61 0.75 23.9 %

The annual net profit was lifted by a 16% rise in revenue, due to diversified promotional plans and new customer additions. Moreover, the cost of sales fell by 2.5% year-on-year.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 98.44 113.11 14.9 %
Gross Income 33.27 40.97 23.1 %
Operating Income 12.36 15.80 27.8 %
Net Income 12.73 15.94 25.2 %
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyal) 0.25 0.32 25.2 %
EPS (Riyal) 0.25 0.32 25.2 %

In H2 2024, the company’s net earnings climbed 25% to SAR 15.9 million from SAR 12.7 million in the second half of 2023.

 

On a half-on-half basis, net earnings dropped 26.4% from SAR 21.6 million in H1 2024.

 

Shareholders’ equity, no minority interest, came in at SAR 83.35 million as of Dec. 31, 2024, up from SAR 64.49 million a year earlier.

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