Financial Results : Paper Home makes SAR 17.9M in 2024; H2 profit up 20% to SAR 11M

Paper Home makes SAR 17.9M in 2024; H2 profit up 20% to SAR 11M

23/03/2025 Argaam Exclusive

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Paper Home Co. reported SAR 17.9 million in net profit for 2024, compared to SAR 17.7 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 97.40 90.50 (7.1 %)
Gross Income 28.25 24.30 (14.0 %)
Operating Income 16.90 13.55 (19.9 %)
Net Income 17.73 17.89 0.9 %
Average Shares 6.00 6.00 -
Earnings Per Share before unusual items (Riyals) 2.73 2.05 (24.9 %)
EPS (Riyal) 2.95 2.98 0.9 %

The annual profit rise was driven by lower raw material costs, in addition to higher profits from the valuation of investment properties and increased gains from the sale of real estate and investment properties.

 

This came despite the pullback in selling prices on the elevated market competition. The selling price per ton of cardboard products decreased by approximately 11% in 2024, given the lower raw paper costs.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 46.70 45.64 (2.3 %)
Gross Income 14.64 11.82 (19.2 %)
Operating Income 7.96 6.18 (22.4 %)
Net Income 9.23 11.03 19.6 %
Average Shares 6.00 6.00 -
Earnings Per Share before unusual items (Riyal) 1.32 0.91 (30.9 %)
EPS (Riyal) 1.54 1.84 19.6 %

In H2 2024, net earnings soared 20% to SAR 11 million, against SAR 9.23 million in H2 2023.

 

Biannually, the bottom line grew 61% from SAR 6.85 million in H1 2024.

 

Shareholders’ equity, no minority interest, amounted to SAR 83.04 million as of Dec. 31, 2024, compared to SAR 65.45 million a year earlier.

 

Attached Document:

 

 

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