Electrical Industries Co. announces its Interim Financial results for the Period Ending on 2024-09-30 ( Nine Months )
10/29/2024 3:14:42 PM
Tadawul-


Element List Current Quarter Similar Quarter For Previous Year %Change Previous Quarter % Change
Sales/Revenue 505,846 392,645 28.83 494,888 2.214
Gross Profit (Loss) 185,770 102,849 80.624 167,576 10.857
Operational Profit (Loss) 135,096 73,768 83.136 112,098 20.515
Net profit (Loss) 121,353 56,425 115.069 100,614 20.612
Total Comprehensive Income 123,239 55,429 122.336 100,346 22.814
All figures are in (Thousands) Saudi Arabia, Riyals


Element List Current Period Similar Period For Previous Year %Change
Sales/Revenue 1,542,823 1,147,489 34.452
Gross Profit (Loss) 503,721 275,831 82.619
Operational Profit (Loss) 346,267 184,416 87.764
Net profit (Loss) 297,197 141,568 109.932
Total Comprehensive Income 298,111 141,243 111.062
Total Shareholders Equity (after Deducting Minority Equity) 844,702 686,916 22.97
Profit (Loss) per Share 0.27 0.13
All figures are in (Thousands) Saudi Arabia, Riyals


Element List Amount Percentage Of The Capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value - -
All figures are in (Thousands) Saudi Arabia, Riyals


Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The increase in sales in the current quarter compared to the same quarter of last year, was driven by rising demand in all sectors within the Kingdom of Saudi Arabia. This increase in sales was particularly evident in high-voltage substation projects, infrastructure projects and a series of new industrial projects including Oil & Gas sector.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The reason of the increase in the net profit of the current quarter compared to the same quarter of last year is mainly attributed to the following:
• Increase of sales from SAR 392,6 million to SAR 505,8 million.

• The diversification of sold products and increase in sold products with higher profit margins.

The increase in net profit is offset by the increase in selling and distribution expenses and general & administrative expenses.

The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The increase in sales in the current quarter compared to the previous one, was driven by rising demand in all sectors within the Kingdom of Saudi Arabia. This increase in sales was particularly evident in high-voltage substation projects, infrastructure projects and a series of new industrial projects including Oil & Gas Sector.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The increase in net profit of the current quarter compared to the previous one is mainly attributed to increase of sales, the diversification of sold products and increase in sold products with higher profit margins.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The increase in sales in the current period compared to the same period of last year was driven by rising demand in all sectors within the Kingdom of Saudi Arabia. This increase in sales was particularly evident in high-voltage substation projects, distribution network infrastructure projects and a series of new industrial projects including Oil & Gas Sector.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reason of increase in net profit of the current period compared to the same period of last year is mainly attributed to:
• Increase of sales from SAR 1,148 million to SAR 1,543 million.

• The diversification of sold products and increase in sold products with higher profit margins.

The increase in net profit is offset by increase in selling and distribution expenses, general and administrative expenses

Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) None
Reclassification of Comparison Items None
Additional Information None