Financial Results : Saudi Cable earns SAR 48.8M in 2024, SAR 5.8M in Q4

Saudi Cable earns SAR 48.8M in 2024, SAR 5.8M in Q4

27/03/2025 Argaam Exclusive

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Saudi Cable Co. posted a net profit of SAR 48.8 million in 2024, leaping from SAR 17.8 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 30.68 44.08 43.7 %
Gross Income (68.16) (18.92) 72.2 %
Operating Income (83.82) (80.52) 3.9 %
Net Income 17.80 48.76 173.9 %
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyals) (1.31) 5.14 493.0 %
EPS (Riyal) 2.67 7.31 173.9 %

The cable producer cited higher sales volume due to increased market demand and improved customer acquisition.

 

The company's share of the profits of associate, Midal, amounted to SAR 127 million, leaping 90% compared with a year earlier.

 

The firm recorded SAR 66.27 million in net profit from continuing operations, which resulted from its share of profit from an associate.

 

It incurred SAR 17.51 million losses, mainly from discontinued activities, which resulting from its Turkish subsidiary.

 

In Q4 2024, the cable producer turned to a profit of SAR 5.8 million from losses of SAR 43.36 million in Q4 2023.

 

Sequentially, the company's Q4 2024 net earnings declined 66.3% from SAR 17.20 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 11.62 14.12 21.5 %
Operating Income (44.41) (24.71) 44.4 %
Net Income (43.36) 5.79 113.4 %
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyal) (6.23) (1.30) 79.1 %
EPS (Riyal) (6.50) 0.87 113.4 %

Shareholders' equity, after minority interest, reached SAR 419.44 million by the end of 2024, compared with SAR 483.32 million a year earlier.

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