Financial Results : Lana turns to SAR 12.5M profit in 2024; H2 at SAR 9.2M

Lana turns to SAR 12.5M profit in 2024; H2 at SAR 9.2M

26/05/2025 Argaam Exclusive

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Lana Medical Co. posted SAR 12.5 million in net profit for 2024, against net losses of SAR 1.9 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 48.63 84.09 72.9 %
Gross Income 19.21 24.90 29.6 %
Operating Income (0.30) 8.57 2916.0 %
Net Income (1.93) 12.46 746.9 %
Average Shares 5.40 5.40 -
Earnings Per Share before unusual items (Riyals) (0.36) 1.46 508.7 %
EPS (Riyal) (0.36) 2.31 746.9 %

The annual profit rise was driven by the company’s expanded market share, with government projects playing a pivotal role in sales growth.

 

Lana also witnessed a significant hike in the environment segment's revenues and medical supplies sales, including sales from National Unified Procurement Co. (nupco).

 

This is in addition to the commencement of commercial activities of the company's subsidiaries.

 

However, the 2024 profit growth was capped by the increased general & administrative expenses and financing costs.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 26.96 50.42 87.0 %
Gross Income 11.12 13.61 22.3 %
Operating Income (4.14) 6.50 257.0 %
Net Income (4.98) 9.24 285.4 %
Average Shares 5.40 5.40 -
Earnings Per Share before unusual items (Riyal) (0.92) 0.86 193.3 %
EPS (Riyal) (0.92) 1.71 285.4 %

In H2 2024, Lana generated a net profit of SAR 9.24 million, from a loss of SAR 4.98 million in H2 2023.

 

On a biannual basis, the six-month bottom line advanced by 186.9% from SAR 3.22 million.

 

Total shareholders’ equity, no minority interest, surged to SAR 61 million as of Dec. 31, 2024, compared to SAR 48.76 million a year earlier.

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