Aldrees Petroleum and Transport Services Co. announces its annual Financial results for the Period Ending on 2024-12-31 ( Twelve Months ) | premargin

Aldrees Petroleum and Transport Services Co. announces its annual Financial results for the Period Ending on 2024-12-31 ( Twelve Months )

TadawulJanuary 21, 2025View on exchange

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	5,249.7	3,951.7	32.846	5,079.9	3.342
Gross Profit (Loss)	217.5	172.8	25.868	204.2	6.513
Operational Profit (Loss)	137.4	106.8	28.651	128.4	7.009
Net profit (Loss)	93.6	72.5	29.103	84.6	10.638
Total Comprehensive Income	89.1	68.2	30.645	82.6	7.869
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	19,288.6	14,834.1	30.028
Gross Profit (Loss)	811.2	680.9	19.136
Operational Profit (Loss)	513.3	421.2	21.866
Net profit (Loss)	338	280.8	20.37
Total Comprehensive Income	318.6	276.6	15.184
Total Shareholders Equity (after Deducting Minority Equity)	1,479.5	1,235.9	19.71
Profit (Loss) per Share	3.38	2.81
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-	-
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	The reason for the increase of sales for the current quarter compared with the same quarter last year is primarily due to the increase in the number of operating stations and the improvement of transportation rates
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the increase of net profit for the current quarter compared with the same quarter last year is due to the increase of Petrol and Transport Division sales, increase of deposit income, and increase of share of the joint venture project investment, and Sukuk, and decrease of Marketing and selling expenses. Although there is an increase of General, Administrative, Financial and Zakat expenses and decrease in other revenues. There is an increase of the total comprehensive income during the current quarter compared to the same quarter of the previous year, even though there was an increase of the remeasurement losses of employees' defined benefits obligations.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The reason for the increase of sales for the current quarter compared with the previous quarter last year is primarily due to the increase in the number of operating stations and the improvement of transportation rates.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The reason for the increase of net profit for the current quarter compared with the previous quarter is due to the increase of Petrol and Transport Divisions sales, increase in the share in the results of investment in the joint project and Sukuk . Although there is an increase of Selling and Marketing, General and Administrative expenses, financial and Zakat expenses, and the decrease in bank deposit revenues and other revenues. There is an increase of the total comprehensive income during the current quarter compared to the previous quarter, even though there was an increase of the remeasurement losses of employees' defined benefits obligations.
The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is	The reason for the increase of sales for the current period compared with the same period last year is primarily due to the increase in the number of operating stations and the improvement of transportation rates.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The reason for the increase of net profit for the current period compared with the same period last year is due to the increase of Petrol and Transport Division sales, increase of deposit income, and Sukuk, and increase of income of the joint venture project investment and the decrease of Marketing and Selling expenses. Although there is a decrease in the other income and increase of General, Administrative, Financial and Zakat expenses. Total comprehensive income increased during the current period compared to the same period of the previous year, due to the remeasurement losses of employees' defined benefits obligations.
Statement of the type of external auditor's report	Unmodified conclusion
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)	Nothing
Reclassification of Comparison Items	Certain comparative figures for the previous year have been reclassified to conform with the current year’s classification. However, there is no material reclassification to report.
Additional Information	The number of shares has been retrospectively adjusted for the prior period to reflect the effect of the issued bonus shares, as the company’s capital was increased from 75 Million shares to 100 Million shares after the approval of the Extraordinary Assembly meeting held on May 05, 2024.