Lana Company announces its consolidated annual financial results for the period ending 12/31/2024
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 84,086,061 | 48,634,208 | 72.89 | ||
| Gross Profit (Loss) | 24,895,934 | 19,210,747 | 29.59 | ||
| Operational Profit (Loss) | 9,627,790 | 6,460,772 | 49.02 | ||
| Net profit (Loss) | 8,001,276 | 4,838,800 | 65.36 | ||
| Total Comprehensive Income | 7,954,211 | 4,944,191 | 60.88 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 70,067,318 | 62,113,107 | 12.81 | ||
| Profit (Loss) per Share | 2.22 | 1.59 | |||
| All figures are in (Actual) 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 (Actual) 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 company achieved a significant increase in revenues. The increase in net revenues, amounting to SAR 35,451,853.00, or 73%, this year compared to the previous year, is attributed to the following:
• The company's success in expanding its market share, with government projects playing a pivotal role in increasing sales.
• A significant increase in environmental sector revenues.
This resulted from the receipt and commencement of several new projects in the environmental sub-sectors (human resources, transportation and treatment, and hazardous medical waste supplies and consumables), which had been announced during previous periods.
• An increase in medical supplies sales, including sales from NUPCO.
• The commencement of commercial activity for the company's subsidiaries. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net profit attributable to Lana shareholders is primarily due to:
• Increased gross profit due to higher total revenues, primarily from the environment and medical supplies sector.
• The financial impact of subsidiaries and owned companies.
• All of the above led to an increase in net profit during the current year compared to the previous year, despite higher general and administrative expenses and financing costs. |
| 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) | The Company's consolidated financial statements for the year ended December 31, 2023 were audited by another auditor who expressed an unmodified opinion on those consolidated financial statements. |
| Reclassification of Comparison Items | The items, elements, and notes in the consolidated financial statements for the comparative period have been amended, re-presented, reclassified, and reclassified to conform with the accounting policies applied in the issuance, presentation, reclassification, and reclassification of the items, elements, and notes in the consolidated financial statements for the current period, which were prepared in accordance with the International Financial Reporting Standards (IFRS) endorsed in the Kingdom of Saudi Arabia and other pronouncements and standards approved by the Saudi Organization for Certified Public Accountants (SOCPA).
The earnings per share for the same period of the previous year have been adjusted following an adjustment to the provision for expected credit losses for 2024 and the right to use assets. The effect of the adjustment on previous financial years has been reversed, as part of the company's efforts to present the financial statements in a fairer manner. |
| Additional Information | Stable business conditions and strong performance by Lana played a key role in achieving revenue growth exceeding SAR 84 million and profits increasing by over 65% to SAR 3,162,476 for the year 2024. Lana recorded its strongest financial performance since its inception, paving the way for a strong and sustainable foundation for the coming years.
Lana launched several new products and services during 2024, in addition to its entry into the medical industry. Continued investment in its activities contributed to strengthening Lana's brand position.
Lana was able to achieve this gradual revenue growth thanks to the expansion of its product and service portfolio, sustained investment in enhancing customer engagement, and a continued focus on operational efficiency.
We expect to continue to gain greater market share across our core product and service segments and strategic geographies, and to explore additional growth and investment opportunities in line with our five-year strategy.
Among the most notable events in 2024 that had a positive impact on financial performance were:
Three hazardous medical waste treatment plants were opened in 2024 in the Hail Industrial City, the Third Industrial City in Jeddah, and the Khamis Mushait Industrial Zone.
Four companies were also acquired, as follows:
1. Sahm Environmental Services Company - 100% - in Riyadh 2. Lana Medical Plastic Supplies Manufacturing Company - 100% - in Sudair Industrial City 3. Solar Laser Systems Company - 50% - in Belarus 4. Wave Light Medical Industries Company - 50% - in the United Arab Emirates |
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