Financial Results : National Gypsum swings to SAR 12.7M loss in 2024; Q4 at SAR 4.5M

National Gypsum swings to SAR 12.7M loss in 2024; Q4 at SAR 4.5M

21/04/2025 Argaam Exclusive

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National Gypsum Co. turned into a loss of SAR 12.7 million in 2024, versus a net profit of SAR 5.1 million a year earlier.


Financials (M)

Item 2023 2024 Change‬
Revenues 51.89 63.32 22.0 %
Gross Income 8.60 7.28 (15.3 %)
Operating Income (6.12) (6.22) (1.6 %)
Net Income 5.13 (12.69) (347.6 %)
Average Shares 31.67 31.67 -
Earnings Per Share before unusual items (Riyals) (0.05) (0.06) (14.8 %)
EPS (Riyals) 0.16 (0.40) (347.6 %)

This was driven by higher cost of sales, and lower net other income (as a result of the company's payment of SAR 10.7 million in a fine to the General Authority for Competition, Yanbu branch). The company also noted an income from compensation for the expropriation of Jeddah land at SAR 8.11 million in the previous year.

 

Net loss declined in Q4 2024 to SAR 4.5 million, from SAR 5.99 million in the year earlier period.


Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 10.99 13.32 21.2 %
Gross Income 0.10 (0.54) (650.0 %)
Operating Income (6.45) (6.50) (0.7 %)
Net Income (5.99) (4.54) 24.3 %
Average Shares 31.67 31.67 -
Earnings Per Share before unusual items (Riyals) (0.19) (0.14) 24.3 %
EPS (Riyals) (0.19) (0.14) 24.3 %
On a sequential basis, Q4 loss shrank from SAR 9.85 million in Q3 2024.
Total shareholders’ equity, no minority equity, reached SAR 346.02 million by Dec. 31, 2024, compared to SAR 362.14 million a year earlier.
Accumulated losses by Dec. 31, 2024, stood at SAR 66.8 million, representing 21% of capital.

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