Financial Results : iOud profit falls 11% to SAR 4.7M in 2024; H2 at SAR 4.2M

iOud profit falls 11% to SAR 4.7M in 2024; H2 at SAR 4.2M

27/03/2025 Argaam Exclusive

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Intelligent Oud Company for Trading (iOud) reported a net profit of SAR 4.7 million in 2024, a decline of 11% from SAR 5.3 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 25.20 26.69 5.9 %
Gross Income 17.87 20.43 14.3 %
Operating Income 7.74 6.95 (10.2 %)
Net Income 5.28 4.74 (10.1 %)
Average Shares 1.95 1.95 -
Earnings Per Share before unusual items (Riyals) 2.71 2.43 (10.1 %)
EPS (Riyal) 2.71 2.43 (10.1 %)

The profit decline was due to statutory reserve allocations that were increased as part of a prudent risk management strategy.

 

This came despite higher revenue in 2024, driven by a strategic expansion in product offerings. New launches in Q4 strengthened market share and boosted sales year over year.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 17.31 16.34 (5.6 %)
Gross Income 11.78 13.43 14.0 %
Operating Income 6.03 4.69 (22.3 %)
Net Income 4.56 4.21 (7.5 %)
Average Shares 1.95 1.95 -
Earnings Per Share before unusual items (Riyal) 2.34 2.16 (7.5 %)
EPS (Riyal) 2.34 2.16 (7.5 %)

H2 2024 net earnings stood at SAR 4.19 million, 8% fall, from SAR 4.56 million in H2 2023.

 

Meanwhile, H2 2024 net profit surged by 693% from SAR 0.53 million in H1 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 46.40 million by Dec. 31, 2024, compared to SAR 41.09 billion a year earlier.

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