Still more earnings…

Strap in for a flood of earnings news:

THEEB-

Theeb’s net income fell 26.4% y-o-y to SAR 142 mn in 2023, while revenues were up 17.3% y-o-y to SAR 1.1 bn, it said in a disclosure to Tadawul. The car rental company’s top line grew on the back of increasing its car count by 22%, resulting in an 11% increase in rented fleet and 43% in car sales.

The company’s BoD is distributing a SAR 17.6 mn dividend at SAR 0.4 per share to its shareholders for 4Q 2023, it said in a disclosure to Tadawul. Funds will be distributed Monday, 1 April.

BATIC-

Batic Investments and Logistics’ net losses decreased 55% y-o-y to SAR 13.9 mn in 2023, while revenues were up 12.4% y-o-y to SAR 480.6 mn, it said in a disclosure to Tadawul. The company attributed its bottom line improvement to decreasing expenses, SAR 10 mn in unrealized investment gains, and improved performance across its different segments.

SAUDI PAPER-

Saudi Paper Manufacturing’s net income increased 55.6% y-o-y to SAR 72.9 mn in 2023, and revenues were up 17.2% y-o-y to SAR 811 mn, it said in a disclosure to Tadawul. The paper manufacturer attributed its bottom line increase to a sizable increase in sales, and a fall in expenses.

WATANIYA-

Wataniya Ins. turned into the black with a net income of SAR 84.6 mn in 2023, and revenues increased 65% y-o-y to SAR 1.4 bn, it said in a disclosure to Tadawul.

DALLAH HEALTH-

Dallah Healthcare’s net income increased 31.2% y-o-y to SAR 360 mn in 2023, and revenues were up 18.3% y-o-y to SAR 2.9 bn, it said in a disclosure to Tadawul. The top line grew on the back of an increase in incoming patients as well as higher occupancy rates.

ALETIHAD-

The net income of Al-Etihad Cooperative Ins. grew 7x y-o-y to SAR 93.9 mn in 2023, and revenues were up 12% y-o-y to SAR 1.2 bn, it said in a disclosure to Tadawul. The ins. provider attributed its top line growth to increases in premiums, namely in its motor ins. segment which grew by 58% y-o-y in 2023.

MRNA-

Morabaha Marina Financing’s net income decreased 31% y-o-y to SAR 31 mn in 2023, while revenues were up 7.2% y-o-y to SAR 169.4 mn, it said in a disclosure to Tadawul.

YCC-

Yanbu Cement’s net income decreased 44.3% y-o-y to SAR 120 mn in 2023, and revenues were down 20.5% y-o-y to SAR 780.6 mn, it said in a disclosure to Tadawul.

EIC-

Electrical Industries’ net income grew 2x y-o-y to SAR 201 mn in 2023, and revenues were up 46.3% y-o-y to SAR 1.6 bn, it said in a disclosure to Tadawul.

EPCCO-

Eastern Province Cement’s net income increased 38.5% y-o-y to SAR 198 mn in 2023, and revenues were up 25.6% y-o-y to SAR 985 mn, it said in a disclosure to Tadawul.

ACC-

Arabian Cement’s net income decreased 22.9% y-o-y to SAR 139.6 mn in 2023, and revenues were down 9.8% y-o-y to SAR 875.8 mn, it said in a disclosure to Tadawul.