Riyadh – Mubasher: ADES Holding Company generated SAR 283 million in net profit after Zakat and tax during the first nine months (9M) of 2023, higher by 60.80% year-on-year (YoY) than SAR 176 million.

Earnings per share (EPS) amounted to SAR 0.44 in 9M-23, according to the interim financial results.

Revenues hiked by 83.23% to SAR 3.06 billion as of 30 September 2023 from SAR 1.67 billion in 9M-22.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the net profits after Zakat and tax increased by 283.33% to SAR 87.40 million from SAR 22.80 million in Q3-22.

ADES Holding posted revenues amounting to SAR 1.07 billion during the July-September 2023 period, marking an 82.88% YoY leap from SAR 590 million.

On a quarterly basis, the Q3-23 net profits dropped by 17.55% from SAR 106 million in Q2-23, while the revenues grew by 5.17% from SAR 1.02 billion.

Last October, the company floated 338.71 million shares on the Main Market of the Saudi Exchange (Tadawul), which represented 30% of its issued share capital.