Financial Results : Alshehili profit rises 15% to SAR 12.2M in 2024; H2 at SAR 6.4M

Alshehili profit rises 15% to SAR 12.2M in 2024; H2 at SAR 6.4M

30/03/2025 Argaam Exclusive

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Alshehili Co. for Metal Industries posted a SAR 12.2 million net profit for 2024, a rise of 15% from SAR 10.5 million in 2023, driven by higher revenues on increased value of manufacturing contracts with major customers.



Financials (M)

Item 2023 2024 Change‬
Revenues 60.57 66.89 10.4 %
Gross Income 21.08 23.83 13.0 %
Operating Income 11.49 14.40 25.3 %
Net Income 10.55 12.17 15.4 %
Average Shares 2.00 2.00 -
Earnings Per Share before unusual items (Riyals) 5.27 6.09 15.4 %
EPS (Riyal) 5.27 6.09 15.4 %

Net earnings for H2 2024 declined by 3% to SAR 6.4 million from SAR 6.61 million in the same period of 2023.

 

Compared to H1 2024, however, the company’s bottom line soared 10.5% from SAR 5.78 million.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 35.98 34.06 (5.3 %)
Gross Income 12.48 11.53 (7.6 %)
Operating Income 7.27 7.83 7.8 %
Net Income 6.61 6.39 (3.2 %)
Average Shares 2.00 2.00 -
Earnings Per Share before unusual items (Riyal) 3.30 3.20 (3.2 %)
EPS (Riyal) 3.30 3.20 (3.2 %)

H2 2024 net earnings declined 3% to SAR 6.4 million from SAR 6.61 million in the same period of 2023.

 

The company had recorded SAR 5.78 million in H1 2024.

 

Shareholders’ equity (no minority interest) amounted to SAR 37.68 million by the end of 2024, compared to SAR 29.85 million a year earlier.

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