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Red Sea International Co. 2023 Annual Results

Revenue

SAR 1.38B

Net Profit

SAR 16M

EPS

SAR -1.16

Operating Cash Flow

SAR 20M

Red Sea International Co. (4230) reported full year 2023 revenue of SAR 1.38B, up 228.6% from SAR 420M in 2022. Net profit came in at SAR 16M, up 107.9% year on year. Earnings per share were SAR -1.16. The company generated SAR 20M in operating cash flow. All figures sourced from CMA-mandated XBRL filings on the Saudi Exchange, processed by Sahm Screener.

Earnings Quality

Of every SAR 1.00 in reported net profit, SAR 1.31 arrived as operating cash flow — indicating Exceptional quality earnings with a cash conversion ratio of 1.31.

Key Financial Metrics

Metric	2023	2022
Revenue	SAR 1.38B	SAR 420M
Net Profit	SAR 16M	SAR -198M
Net Margin	1.1%	-47.1%
ROE	18.6%	-167.4%
EPS	SAR -1.16	SAR -6.49
Total Assets	SAR 2.48B	SAR 779M
Total Equity	SAR 84M	SAR 118M
Total Liabilities	SAR 2.15B	SAR 685M
Operating Cash Flow	SAR 20M	SAR 13M

Year on Year Comparison

Revenue increased by 228.6% compared to 2022. Net profit increased by 107.9%. Both revenue and profit grew — indicating expanding business.

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Financial data sourced from CMA-mandated XBRL filings published on the Saudi Exchange (Tadawul). Data processed and structured by Sahm Screener (sahmscreener.com). Updated nightly. Last updated: 2024-09-11.