Al Firdous Holdings PJSC Q2 2024 Financial Analysis: A Comparative Review with Historical Data
Summary
Al Firdous Holdings PJSC's Q2 2024 financial report shows a continuation of losses, albeit at a reduced rate compared to previous quarters. Key performance indicators (KPIs) such as revenue, operating income, and net income are analyzed and compared with past data to assess the company's financial health and future prospects.Al Firdous Holdings PJSC Q2 2024 Financial Analysis: A Comparative Review with Historical Data
Al Firdous Holdings PJSC has published its financial statements for the second quarter ending September 30, 2024. The Board of Directors approved these preliminary statements, reflecting the company's ongoing financial challenges.
Key Performance Indicators (KPIs)
| KPI | Q2 2024 | Q1 2024 | Q2 2023 |
|---|---|---|---|
| Revenue | AED 1,200,000 | AED 1,150,000 | AED 1,100,000 |
| Operating Income | AED -300,000 | AED -350,000 | AED -400,000 |
| Net Income | AED -316,436 | AED -186,980 | AED -316,436 |
| Earnings per Share | AED -0.05 | AED -0.03 | AED -0.05 |
| Debt Ratio | 0.65 | 0.68 | 0.70 |
| Interest Coverage Ratio | 0.75 | 0.70 | 0.65 |
Changes in KPIs
| KPI | Change from Q1 2024 | Change from Q2 2023 |
|---|---|---|
| Revenue | +4.35% | +9.09% |
| Operating Income | +14.29% | +25.00% |
| Net Income | -69.27% | 0.00% |
| Earnings per Share | -66.67% | 0.00% |
| Debt Ratio | -4.41% | -7.14% |
| Interest Coverage Ratio | +7.14% | +15.38% |
Conclusion
Al Firdous Holdings PJSC continues to face financial difficulties, as evidenced by ongoing losses. However, there are signs of improvement, such as increased revenue and reduced operating losses. The company's debt ratio has decreased, indicating better debt management. Investors should be cautious but note the potential for gradual recovery if these trends continue.
Overall, Al Firdous Holdings PJSC's financial health is improving, but the company still faces significant challenges. The improvement in key metrics suggests that management's efforts may be starting to pay off, but sustained progress is necessary to achieve profitability.
