Molan Steel Co. widened net losses to SAR 4.8 million in 2023, compared to SAR 761,300 a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 84.62 | 89.70 | 6.0 % |
| Gross Income | 5.32 | 4.14 | (22.2 %) |
| Operating Income | (0.41) | (3.39) | (734.8 %) |
| Net Income | (0.76) | (4.79) | (528.8 %) |
| Average Shares | 23.00 | 26.60 | 15.7 % |
| EPS (Riyals) | (0.03) | (0.18) | (443.7 %) |
Losses widened due to a 25% decline year-on-year (YoY) in selling prices and a 90.56% increase YoY in the cost of financing.
Molan’s higher revenue YoY was attributed to a new branch opening in the Eastern Province and increased sales volumes in Riyadh and Jeddah branches.
Total shareholders’ equity, no minority interest, stood at SAR 30.08 million by Dec. 31, 2023, compared to SAR 34.8 million a year ago.
Accumulated losses reached SAR 1.79 million by Dec. 31, 2023, representing 6.72% of capital.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net profit (SAR mln) |
EPS (SAR /share) |
|
H1 2021 |
20.24 |
1.87 |
0.08 |
|
H2 2021 |
27.91 |
2.30 |
0.10 |
|
H1 2022 |
46.86 |
2.26 |
0.09 |
|
H2 2022 |
37.76 |
(3.02) |
(0.11) |
|
H1 2023 |
43.93 |
(3.16) |
(0.12) |
|
H2 2023 |
45.77 |
(1.63) |
(0.06) |
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