Saudi Paper Manufacturing Co. announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 837.24 | 811.08 | 3.23 | ||
| Gross Profit (Loss) | 261.26 | 247.57 | 5.53 | ||
| Operational Profit (Loss) | 111.09 | 116.48 | -4.63 | ||
| Net profit (Loss) | 83.24 | 72.94 | 14.12 | ||
| Total Comprehensive Income | 84.69 | 75.17 | 12.66 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 512.79 | 472.61 | 8.5 | ||
| Profit (Loss) per Share | 2.25 | 1.97 | |||
| All figures are in (Millions) 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 (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The 3.2% increase in sales during the current period compared to the same period last year is due to an increase in paper roll sales, as a result of the company's focus on products that meet growing market needs, especially sustainable products. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The 14.1% increase in net profit during the current period compared to the same period last year was due to a 3.2% growth in revenue, which led to a 5.5% increase in gross profit. A decrease in financing expenses and an increase in other income also contributed to the improvement in net profit.
However, operating expenses increased as the company undertook major, non-recurring maintenance work, resulting in an increase in maintenance costs of SAR 2.5 million. General and administrative expenses, in addition to selling and distribution expenses, also increased due to increased sales volume and export quantities, representing 17.2%.Of the total sales, this is in line with the company’s strategy to increase its share in neighboring foreign markets, given the imminent start of operation of the new production line No. 5, which will increase the company’s production capacity by 60,000 tons in the year 2025 AD. In addition to this, the high cost of diesel, which has affected some aspects of the operating cost. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | nothing |
| Reclassification of Comparison Items | nothing |
| Additional Information | Basic earnings per share is calculated by dividing the net profit attributable to common shareholders of the company by the weighted average number of common shares outstanding during the period.
The weighted average number of outstanding shares for the current period is 36,954,212 shares (where the total number of shares is 37,070,000 shares, and the effect of treasury shares held, amounting to 115,788 shares, is deducted from it), and the weighted average number of outstanding shares for the same period of the previous year is 36,954,212 shares (where the total number of shares is 33,700,000 shares, and the effect of treasury shares held, amounting to 105,262 shares, is deducted from it, and then the result is adjusted by a bonus share factor of 1.10). |
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