Logo ofBawan Co.
Bawan Co.’s financials in Q3 2024 were adversely affected by a decline across most of its operating segments, driven by lower average selling prices and reduced sales volumes in the electrical, as well as metal and wood segments. 
Profits for the metal and wood segment fell by approximately 51% year-on-year (YoY) to SAR 14.5 million in Q3 2024, while the electrical segment recorded a 24% YoY drop in earnings to SAR 6.5 million.
Meanwhile, other segments, including activities related to the holding company, recorded losses for the fourth consecutive quarter of SAR 3.1 million, compared to profits of SAR 2.2 million in the year-ago period.
On the other hand, profits for the plastics segment rose to SAR 6.9 million in Q3 2024, compared to SAR 2.7 million in Q3 2023.
In terms of operating segment sales, revenues for the metals wood and electrical segments declined by 22% and 20% YoY to SAR 457.4 million and SAR 129.6 million, respectively, in Q3 2024.
Conversely, sales for the plastics segment rose by 17% YoY to SAR 95.7 million during the quarter.
Bawan signed an agreement with Petronash Global Ltd. in October to acquire the entire stake in Petronash Holding for $175 million (SAR 656 million). The acquisition will be funded through bank facilities and internal cash flows.
Logo ofBawan Co.
Bawan Co.’s financials in Q3 2024 were adversely affected by a decline across most of its operating segments, driven by lower average selling prices and reduced sales volumes in the electrical, as well as metal and wood segments.
Profits for the metal and wood segment fell by approximately 51% year-on-year (YoY) to SAR 14.5 million in Q3 2024, while the electrical segment recorded a 24% YoY drop in earnings to SAR 6.5 million.
Meanwhile, other segments, including activities related to the holding company, recorded losses for the fourth consecutive quarter of SAR 3.1 million, compared to profits of SAR 2.2 million in the year-ago period.
On the other hand, profits for the plastics segment rose to SAR 6.9 million in Q3 2024, compared to SAR 2.7 million in Q3 2023.
In terms of operating segment sales, revenues for the metals wood and electrical segments declined by 22% and 20% YoY to SAR 457.4 million and SAR 129.6 million, respectively, in Q3 2024.
Conversely, sales for the plastics segment rose by 17% YoY to SAR 95.7 million during the quarter.
Bawan signed an agreement with Petronash Global Ltd. in October to acquire the entire stake in Petronash Holding for $175 million (SAR 656 million). The acquisition will be funded through bank facilities and internal cash flows.
