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AL HAMMADI HOLDING-
Al Hammadi Holding’s net income grew 5.7% y-o-y to SAR 79.1 mn in 3Q 2024, according to the company’s earnings report (pdf). The higher bottom line was driven by higher financing revenue and higher profitshare from associates, the company said in a disclosure to Tadawul. Meanwhile, revenues fell 2.4% y-o-y to SAR 290.6 mn during the quarter on the back of reduced sales to the Health Ministry and a decline in drug sales to subsidiaries.
On a 9M basis: The company’s bottom line was up 10% y-o-y at SAR 261.0 mn during the first nine months of the year on the back of improved profitability attributable to reduced costs. Revenues fell 4.8% to SAR 831.1 mn during the period due to lower patient numbers, and reduced pharma sales to subsidiaries, the release read.
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Riyadh Cables Group’s net income rose 76.9% y-o-y to SAR 234.8 mn in 3Q 2024, on the back of higher sales volumes and an improved product mix, it said in a disclosure to Tadawul. Meanwhile, revenues grew 16.9% at SAR 2.43 bn.
On a 9M basis: The company’s bottom line was up 46.4% y-o-y at SAR 563.1 mn during the first nine months of the year, while revenues increased 9.7% at SAR 6.51 bn.
ELM-
PIF-owned digital solutions provider Elm Company’s net income increased 49.1% y-o-y to SAR 498 mn in 3Q 2024, as boosted sales offset higher expenses and a fall in Murabaha income, the company said in a disclosure to Tadawul. Revenues were up 23% over the same period at SAR 1.87 bn, on the back of growth in the digital business and business process outsourcing segments which offset a drop in professional services.
On a 9M basis: The company saw its net income up 29.1% y-o-y at SAR 1.33 bn during the first nine months of the year, while revenues increased 25.3% at SAR 5.28 bn.
AL MAJED OUD-
Al Majed Oud’s net income increased 59.3% y-o-y to SAR 22.4 mn in 3Q 2024 on the back of higher sales and improved operational performance, the company said in a disclosure to Tadawul. Revenues were up 41% over the same period at SAR 170.6 mn.
On a 9M basis: The company net income rose 23.3% y-o-y to SAR 141.9 mn during the first nine months of the year, with new store openings driving gains. Revenues increased 25.5% at SAR 683.7 mn.
REMEMBER- The perfume maker wrapped up a 30% stake offering on Tadawul’s main market in September at SAR 94 apiece, raising SAR 705 mn in proceeds, and giving it a market cap of SAR 24 bn at listing. The institutional tranche of the offering was 15.6x oversubscribed while the retail tranche was 8.2x oversubscribed.
SULAIMAN AL HABIB-
Sulaiman Al Habib’s net income increased 9.3% y-o-y to SAR 595.5 mn in 3Q 2024, driven by increased patient numbers, the company said in a disclosure to Tadawul. Revenues were up 21.8% over the same period at SAR 2.98 bn on the back of growth in both hospital and pharma segments, with the uptick in patient numbers also driving pharma growth.
On a 9M basis: The company’s net income rose 11.9% y-o-y to SAR 1.7 bn during the first nine months of the year while revenues increased 14.9% at SAR 8.1 bn.
LUBEREF-
Aramco Base Oil Company (Luberef)’s net income fell 33.6% y-o-y to SAR 226 mn in 3Q 2024, as falls in by-product crack margins and a slight dip in base oil margins offset gains in base oil sales volumes, according to a disclosure to Tadawul and an earnings release (pdf). Revenues fell 2.1% y-o-y to SAR 2.5 bn over the same period, on the back of declining by-product prices which offset higher sales volumes.
On a 9M basis: The company net income decreased 38.4% y-o-y to SAR 763.8 mn during the first nine months of the year while revenues increased 6.5% at SAR 7.4 bn.
