Financial Results : AlNaqool incurs loss of SAR 293,000 in 2023

AlNaqool incurs loss of SAR 293,000 in 2023

31/03/2024 Argaam Exclusive

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Mohammed Hasan AlNaqool Sons Co. reported a net loss of SAR 293,000 for 2023, against a net profit of SAR 203,000 a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 43.23 43.29 0.1 %
Gross Income 5.37 5.98 11.4 %
Operating Income 0.79 2.26 185.0 %
Net Income 0.20 (0.29) (244.4 %)
Average Shares 2.90 2.90 -
Earnings Per Share before unusual items (Riyals) (0.42) (0.10) 75.8 %
EPS (Riyal) 0.07 (0.10) (244.4 %)

The losses were attributed to a 72% year-on-year (YoY) increase in financial burdens, a 27% surge in depreciation on assets and higher foreign currency exchange differences from a subsidiary.



Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 20.12 24.52 21.9 %
Gross Income 0.96 3.77 292.3 %
Operating Income (1.56) 2.16 238.5 %
Net Income (0.09) 0.36 503.8 %
Average Shares 2.90 2.90 -
Earnings Per Share before unusual items (Riyal) (0.52) 0.12 123.9 %
EPS (Riyal) (0.03) 0.12 503.8 %

Shareholders' equity, no minority rights, stood at SAR 50.17 million by the end of 2023, compared with SAR 5 million a year earlier.

 

Historical Data

Period

Revenues

(SAR mln)

Net Earnings

(SAR mln)

EPS

(SAR/Share)

H1 2019

16.75

2.40

0.83

H2 2019

17.60

3.85

1.33

H1 2020

18.80

1.52

0.52

H2 2020

26.04

4.96

1.71

H1 2021

23.25

4.04

1.39

H2 2021

30.07

5.17

1.78

H1 2022

23.11

0.29

0.10

H2 2022

20.12

(0.09)

(0.03)

H1 2023

18.77

1.15

0.40

H2 2023

24.52

(1.45)

(0.50)

 

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