National Environmental Recycling Co. (Tadweeer) reported a 32% rise in 2023 net profit to SAR 23.8 million, compared to SAR 18.1 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 402.45 | 631.91 | 57.0 % |
| Gross Income | 30.89 | 38.94 | 26.1 % |
| Operating Income | 23.40 | 28.62 | 22.3 % |
| Net Income | 18.12 | 23.82 | 31.5 % |
| Average Shares | 58.08 | 58.08 | - |
| EPS (Riyals) | 0.31 | 0.41 | 31.5 % |
The annual earnings were driven by higher sales volumes and the effective sales mix to local customers and exporters.
Shareholders’ equity, no minority interest, increased to SAR 199.94 million as of Dec. 31, 2023, from SAR 156.47 million in the year-earlier period.
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