Financial Results : Saudi Lime net profit up at SAR 21.4M in 2024; H2 at SAR 12.9M

Saudi Lime net profit up at SAR 21.4M in 2024; H2 at SAR 12.9M

23/03/2025 Argaam Exclusive

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Saudi Lime Industries Co. reported a net profit of SAR 21.4 million for 2024, up from SAR 9.8 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 149.98 208.49 39.0 %
Gross Income 37.22 58.51 57.2 %
Operating Income 6.32 26.92 325.6 %
Net Income 9.76 21.39 119.1 %
Average Shares 23.10 23.10 -
Earnings Per Share before unusual items (Riyals) 0.26 0.93 254.0 %
EPS (Riyal) 0.42 0.93 119.1 %

Revenues grew on higher sales volume and improved average selling price, in addition to the consolidation of the subsidiary's operations starting from the acquisition date on May 19, 2024.

 

The company also reported a decrease in selling and marketing expenses, and a decline in the expected credit loss provision.

 

This comes despite the increase in general and administrative expenses due to costs associated with executing the acquisition, as well as the rise in financing expenses.

 

In H2 2024, Saudi Lime reported a net profit of SAR 12.9 million, a surge of 152.5% from SAR 5.1 million a year earlier.

 

Sequentially, net profit grew 50.4% from SAR 8.54 million in H1 2024.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 78.44 118.45 51.0 %
Gross Income 6.19 18.82 204.0 %
Operating Income 1.74 17.31 895.7 %
Net Income 5.09 12.85 152.5 %
Average Shares 23.10 23.10 -
Earnings Per Share before unusual items (Riyal) 0.06 0.56 839.2 %
EPS (Riyal) 0.22 0.56 152.5 %

Shareholders' equity, no minority rights, stood at SAR 297.34 million by the end of 2024, compared with SAR 275.75 million a year earlier.

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