Electrical Industries Co. announces its Annual Financial results for the period ending on 2023-12-31

Electrical Industries Co. announces its Annual Financial results for the period ending on 2023-12-31

|Element List||Current Year||Previous Year||%Change|

|Sales/Revenue||1,559,351||1,066,089||46.27|

|Gross Profit (Loss)||401,295||237,622||68.88|

|Operational Profit (Loss)||264,522||131,609||100.99|

|Net profit (Loss)||201,034||94,170||113.48|

|Total Comprehensive Income||198,343||87,834||125.81|

|Total Share Holders Equity (After Deducting the Minority Equity)||744,798||630,761||18.08|

|Profit (Loss) per Share||0.18||0.08|

|All figures are in (Thousands) 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 (Thousands) 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 increase in sales for the current year compared with last year was driven by rising demand across all sectors within the Kingdom of Saudi Arabia. This increase in sales was particularly evident in high-voltage substation projects, distribution network infrastructure projects, and a series of new industrial projects, including the Oil & Gas sector.|

|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 for the current year compared with last year is mainly attributed to Increase of sales from SR 1,066 million to SR 1,559 million. In addition to the diversification of the sold products which include products with higher profitability and better gross margins. The increase in net profit is offset by:

|

- Increase in