Electrical Industries Co. reported a net profit of SAR 94.2 million in 2022, a 93% surge from SAR 48.9 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 770.69 | 1,066.09 | 38.3 % |
| Gross Income | 149.55 | 237.62 | 58.9 % |
| Operating Income | 66.83 | 133.71 | 100.1 % |
| Net Income | 48.85 | 94.17 | 92.8 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | 4.34 | 8.37 | 92.8 % |
This was fueled by an increase in sales year-on-year (YoY) to SAR 1.06 billion, in addition to the diversification of the sold products.
However, the profit increase was offset by higher selling and distribution expenses, an increase in general and administrative expenses and a rise in the cost of finance.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 229.61 | 364.90 | 58.9 % |
| Gross Income | 46.43 | 89.96 | 93.7 % |
| Operating Income | 30.50 | 61.13 | 100.4 % |
| Net Income | 23.75 | 39.85 | 67.8 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | 2.11 | 3.54 | 67.8 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 245.25 | 364.90 | 48.8 % |
| Gross Income | 56.15 | 89.96 | 60.2 % |
| Operating Income | 30.82 | 61.13 | 98.3 % |
| Net Income | 23.60 | 39.85 | 68.9 % |
| Average Shares | 1,125.00 | 1,125.00 | - |
| EPS (Halala) | 2.10 | 3.54 | 68.9 % |
Q4 2022 net earnings increased 68% to SAR 39.9 million, from SAR 23.7 million in Q4 2021.
On a quarterly basis, net profit jumped by 68.9% from SAR 23.6 million in Q3 2022.
Total shareholders’ equity, no minority interest, stood at SAR 630.8 million by Dec. 31, 2022, compared to SAR 587.8 million in a year-earlier period.
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