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National Environmental Recycling Co. announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 806,045,768 | 631,908,928 | 27.56 | ||
| Gross Profit (Loss) | 58,291,127 | 41,445,555 | 40.65 | ||
| Operational Profit (Loss) | 46,108,836 | 31,121,212 | 48.16 | ||
| Net profit (Loss) | 36,164,558 | 25,795,855 | 40.2 | ||
| Total Comprehensive Income | 36,062,218 | 25,829,273 | 39.62 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 238,186,200 | 201,921,686 | 17.96 | ||
| Profit (Loss) per Share | 0.63 | 0.43 | |||
| 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 | Revenue increased by 27.56% in 2024 compared to 2023, driven by: 1. The operationalization of a new production line, resulting in higher sales volumes. 2. Increased utilization of existing production lines |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The 40.20% increase in net profit in 2024 compared to 2023 is primarily driven by: 1. Improved utilization rates across various products. 2. Effective control over operational and administrative expenses. 3. The replacement of rental assets with owned assets, leading to lower operational costs and higher profit margins. |
| 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) | N/A |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the current year's figure. The items in the statement of financial position as of December 31, 2023 (the comparative period) have been amended and restated, resulting in a SAR 1,977,776 increase, bringing the total profit to SAR 25,795,855. As refer of notes to the financial statements for the period ending December 31, 2024. |
| Additional Information | - |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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