Financial Results : TAQAT losses reach SAR 7.6M in 2024, SAR 3.3M in H2

TAQAT losses reach SAR 7.6M in 2024, SAR 3.3M in H2

30/03/2025 Argaam Exclusive

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TAQAT Mineral Trading Co. narrowed the 2024 net losses to SAR 7.6 million in 2024 from SAR 15.1 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 156.41 236.41 51.1 %
Gross Income (0.39) 1.12 388.4 %
Operating Income (9.29) (6.67) 28.2 %
Net Income (15.12) (7.62) 49.6 %
Average Shares 9.75 12.19 25.0 %
Earnings Per Share before unusual items (Riyals) (1.55) (0.63) 59.7 %
EPS (Riyal) (1.55) (0.63) 59.7 %

The lower losses were attributed to higher revenue in 2024, owing to increased demand for scrap iron.

 

In H2 2024, net losses declined to SAR 3.3 million from SAR 12.3 million in H2 2023.

 

Similarly, TAQAT trimmed net losses by 23.9% from SAR 4.3 million in H1 2024.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 78.18 151.54 93.8 %
Gross Income (1.70) (0.02) 98.9 %
Operating Income (7.08) (3.06) 56.9 %
Net Income (12.36) (3.29) 73.4 %
Average Shares 9.75 12.19 25.0 %
Earnings Per Share before unusual items (Riyal) (1.27) (0.27) 78.7 %
EPS (Riyal) (1.27) (0.27) 78.7 %

Total shareholders’ equity, no minority interest, reached SAR 120.52 million as of Dec. 31, 2024, up from SAR 88.15 million a year earlier.

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