Financial Results : Sinad narrows losses to SAR 3.9M in 2024; Q4 profit at SAR 7.9M

Sinad narrows losses to SAR 3.9M in 2024; Q4 profit at SAR 7.9M

13/03/2025 Argaam Exclusive

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Sinad Holding Co. narrowed its losses to SAR 3.9 million in 2024, from SAR 132.6 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 1,639.83 1,753.99 7.0 %
Gross Income 372.66 514.18 38.0 %
Operating Income (128.19) 109.71 185.6 %
Net Income (132.65) (3.87) 97.1 %
Average Shares 126.39 126.39 -
Earnings Per Share before unusual items (Riyals) (1.17) (0.03) 97.4 %
EPS (Riyal) (1.05) (0.03) 97.1 %

The company attributed the decline in losses to higher sales in Saudi Arabia, increased export sales across the group, and a focus on geographical expansion by broadening sales channels.

 

It also cited an increase in gross profit and the achievement of operating profits during the year, compared to an operating loss in the previous year, which was primarily driven by higher total profit from sales.

 

The company turned to a net profit of SAR 7.92 million in Q4 2024, versus a net loss of SAR 47.7 million a year earlier.

 

On a quarterly basis, Sinad’s profit surged compared to SAR 1.29 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 461.47 463.90 0.5 %
Gross Income 94.06 124.22 32.1 %
Operating Income (53.37) 42.56 179.7 %
Net Income (47.77) 7.95 116.6 %
Average Shares 126.39 126.39 -
Earnings Per Share before unusual items (Riyal) (0.50) 0.06 112.5 %
EPS (Riyal) (0.38) 0.06 116.6 %

Shareholders' equity, excluding minority interest, fell to SAR 1.07 billion by the end of 2024, compared to SAR 1.08 billion a year ago.

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