Nice One Beauty Digital Marketing Company (4193) Q3 2024 earnings summary

Executive summary

• Net profit for the nine months ended 30 September 2024 reached SR 65.9 million, more than doubling from SR 29.2 million in the prior year period.

• Revenue for the nine months rose 36% year-over-year to SR 696.5 million, driven by strong local and international sales.

• The company completed a major capital restructuring, increasing share capital to SR 110 million and converting to a joint stock company as part of its IPO process.

• Operating profit for the nine months surged to SR 71.3 million from SR 30.8 million year-over-year.

• The company is in the process of an IPO expected to be finalized by year-end 2024.

Financial highlights

• Revenue for Q3 2024 was SR 237.7 million, up from SR 167.5 million in Q3 2023; nine-month revenue was SR 696.5 million, up from SR 512.8 million.

• Net profit for Q3 2024 was SR 25.8 million, compared to SR 8.1 million in Q3 2023.

• Gross profit for the nine months was SR 200.2 million, up from SR 156.8 million year-over-year.

• Cash and cash equivalents stood at SR 51.1 million as of 30 September 2024.

• Total assets increased to SR 467.1 million from SR 349.2 million at year-end 2023.

Outlook and guidance

• IPO process is ongoing and expected to complete by the end of 2024.

• No dividend declared for the period; focus remains on growth and capital structure optimization.