Financial Results : UCIC 2024 earnings drop 20% to SAR 124.7M

UCIC 2024 earnings drop 20% to SAR 124.7M

16/04/2025 Argaam Exclusive

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United Carton Industries Co. (UCIC), set to list on the Main Market (TASI), reported net earnings of SAR 124.7 million for 2024, down 20% from SAR 156.7 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,361.80 1,344.48 (1.3 %)
Gross Income 284.34 240.06 (15.6 %)
Operating Income 171.66 116.82 (31.9 %)
Net Income 156.70 124.70 (20.4 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyals) 3.92 2.43 (38.0 %)
EPS (Riyal) 3.92 3.12 (20.4 %)

Operating profit margin declined to 9% in 2024 from 13% a year earlier, due to higher operating expenses and lower revenues.

 

Income tax increased from SAR 6.4 million in 2023 to SAR 11.9 million in 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues - 322.74 -
Gross Income - 45.08 -
Operating Income - 14.97 -
Net Income - 25.21 -
Average Shares - 40.00 -
Earnings Per Share before unusual items (Riyal) - 0.22 -
EPS (Riyal) - 0.63 -

However, other revenues increased to SAR 17.8 million from SAR 3 million in 2023, as 2024 results included SAR 12.7 million in insurance claim revenues resulting from a fire at one of the production facilities of Integrated Packaging Co., in addition to the recovery of employee accommodation expenses worth SAR 3.6 million.

 

Total shareholders' equity reached SAR 545.52 million at the end of 2024, compared with SAR 482.07 million a year earlier.

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