{"id":84428,"date":"2024-03-17T00:00:00","date_gmt":"2024-03-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/still-more-earnings\/"},"modified":"2024-03-17T00:00:00","modified_gmt":"2024-03-17T00:00:00","slug":"still-more-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/17\/still-more-earnings\/","title":{"rendered":"Still more earnings\u2026"},"content":{"rendered":"

Strap in for a flood of earnings news:<\/strong><\/p>\n

\n

THEEB-<\/p>\n

Theeb<\/a><\/strong>\u2019s net income fell 26.4% <\/strong>y-o-y<\/strong> to SAR 142 mn in 2023<\/strong>, while revenues were up 17.3% y-o-y to SAR 1.1 bn, it said in a disclosure to Tadawul<\/a>. The car rental company\u2019s 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.<\/p>\n

The company\u2019s BoD is distributing a SAR 17.6 mn dividend at SAR 0.4 per share to its <\/strong>shareholders for 4Q 2023<\/strong>, it said in a disclosure to Tadawul<\/a>. Funds will be distributed Monday, 1 April.<\/p>\n

\n

BATIC-<\/p>\n

Batic Investments and Logistics<\/a><\/strong>\u2019 net losses decreased 55% y-o-y to SAR 13.9 mn in 2023<\/strong>, while revenues were up 12.4% y-o-y to SAR 480.6 mn, it said in a disclosure to Tadawul<\/a>. The company attributed its bottom line improvement to decreasing expenses, SAR 10 mn in unrealized investment gains, and improved performance across its different segments.<\/p>\n

\n

SAUDI PAPER-<\/p>\n

Saudi Paper Manufacturing<\/a><\/strong>\u2019s net income increased 55.6% <\/strong>y-o-y<\/strong> to SAR 72.9 mn in <\/strong>2023<\/strong>, and revenues were up 17.2% y-o-y to SAR 811 mn, it said in a disclosure to Tadawul<\/a>. The paper manufacturer attributed its bottom line increase to a sizable increase in sales, and a fall in expenses. <\/p>\n

\n

WATANIYA-<\/p>\n

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

\n

DALLAH HEALTH-<\/p>\n

Dallah Healthcare<\/a><\/strong>\u2019s net income increased 31.2% <\/strong>y-o-y<\/strong> to SAR 360 mn in 2023<\/strong>, and revenues were up 18.3% y-o-y to SAR 2.9 bn, it said in a disclosure to Tadawul<\/a>. The top line grew on the back of an increase in incoming patients as well as higher occupancy rates.<\/p>\n

\n

ALETIHAD-<\/p>\n

The net income of <\/strong>Al-Etihad Cooperative Ins.<\/a><\/strong> grew 7x <\/strong>y-o-y<\/strong> to SAR 93.9 mn in 2023<\/strong>, and revenues were up 12% y-o-y to SAR 1.2 bn, it said in a disclosure to Tadawul<\/a>. 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.<\/p>\n

\n

MRNA-<\/p>\n

Morabaha Marina Financing<\/a><\/strong>\u2019s net income decreased 31% <\/strong>y-o-y<\/strong> to SAR 31 mn in 2023<\/strong>, while revenues were up 7.2% y-o-y to SAR 169.4 mn, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

YCC-<\/p>\n

Yanbu Cement<\/a><\/strong>\u2019s net income decreased 44.3% <\/strong>y-o-y<\/strong> to SAR 120 mn in 2023<\/strong>, and revenues were down 20.5% y-o-y to SAR 780.6 mn, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

EIC-<\/p>\n

Electrical Industries<\/a><\/strong>\u2019 net income grew 2x <\/strong>y-o-y<\/strong> to SAR 201 mn in 2023<\/strong>, and revenues were up 46.3% y-o-y to SAR 1.6 bn, it said in a disclosure to Tadawul<\/a>. <\/p>\n

\n

EPCCO-<\/p>\n

Eastern Province Cement<\/a><\/strong>\u2019s net income increased 38.5% <\/strong>y-o-y<\/strong> to SAR 198 mn in 2023<\/strong>, and revenues were up 25.6% y-o-y to SAR 985 mn, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

ACC-<\/p>\n

Arabian Cement<\/a><\/strong>\u2019s net income decreased 22.9% <\/strong>y-o-y<\/strong> to SAR 139.6 mn in 2023<\/strong>, and revenues were down 9.8% y-o-y to SAR 875.8 mn, it said in a disclosure to Tadawul<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Batic | Saudi Paper | Wataniya | Dallah Healthcare | Al-Etihad Cooperative | Morabaha Marina Financing | Yanbu Cement | Electrical Industries | Eastern Province Cement | Arabian Cement<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2607],"tags":[285,10,207,13,392],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84428","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-ksa","tag-financial-services","tag-healthcare","tag-manufacturing","wpautop","entry"],"acf":{"mongo_id":"bf67685f-9603-46e6-ad0a-3691b3117ef3","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"A busy day sees Theeb, Batic, Saudi Paper, Wataniya Insurance, and more reporting results for FY 2023","related_issue":[84412],"teaser":"Batic | Saudi Paper | Wataniya | Dallah Healthcare | Al-Etihad Cooperative | Morabaha Marina Financing | Yanbu Cement | Electrical Industries | Eastern Province Cement | Arabian Cement","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.25e3a44a-1e89-42c8-baac-ffba892f7c79.mp3"},"yoast_head":"\nStill more earnings\u2026 - 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