Financial Results : Anmat profit rises 67% to SAR 34.3M in 2024; H2 at SAR 30.4M

Anmat profit rises 67% to SAR 34.3M in 2024; H2 at SAR 30.4M

05/05/2025 Argaam Exclusive

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Anmat Technology for Trading Co., poised to list on Nomu-Parallel Market, posted a 67% profit hike to SAR 34.3 million in 2024, from SAR 20.6 million in the year before.



Financials (M)

Item 2023 2024 Change‬
Revenues 188.75 268.34 42.2 %
Gross Income 33.86 52.85 56.1 %
Operating Income 22.83 38.46 68.5 %
Net Income 20.56 34.34 67.0 %
Average Shares 38.00 38.00 -
Earnings Per Share before unusual items (Riyals) 0.54 0.90 67.0 %
EPS (Riyal) 0.54 0.90 67.0 %

The annual profit growth was driven by a 42.2% year-on-year (YoY) increase in revenues, primarily resulting from higher revenues from information technology projects, which reached SAR 238.1 million in 2024, compared to SAR 161.4 million in 2023.

 

The 2024 revenue growth was further supported by higher construction and industrial revenues.

 

This came despite a rise in Zakat expenses to SAR 2.3 million in 2024, from SAR 1.6 million a year ago. Additionally, financing costs (FCs) soared to SAR 2.5 million in 2024, compared to SAR 1.1 million in 2023.



Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 144.72 185.12 27.9 %
Gross Income 25.98 42.30 62.8 %
Operating Income 19.00 33.01 73.8 %
Net Income 17.58 30.42 73.0 %
Average Shares 38.00 38.00 -
Earnings Per Share before unusual items (Riyal) 0.46 0.80 73.0 %
EPS (Riyal) 0.46 0.80 73.0 %

H2 2024 net earnings surged 73% to SAR 30.42 million from SAR 17.58 million in H2 2023.

 

On a sequential basis, the six-month bottom line jumped by more than seven folds from SAR 3.92 million in H1 2024.

 

Shareholders’ equity, no minority interest, rose to SAR 92.96 million by the end of 2024, from SAR 59.07 million a year earlier.

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