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Jamjoom Pharma profit up 22% to SAR 356.5M in 2024; Q4 at SAR 51.6M
Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) posted a net profit of SAR 356.5 million in 2024, rising from SAR 292.4 million a year earlier.
Financials (Million Riyal)
| Item | 2023 | 2024 | Change |
|---|---|---|---|
| Revenues | 1,100.82 | 1,318.48 | 19.8 % |
| Gross Income | 703.84 | 820.50 | 16.6 % |
| Operating Income | 313.38 | 380.70 | 21.5 % |
| Net Income | 292.40 | 356.52 | 21.9 % |
| Average Shares | 70.00 | 70.00 | - |
| Earnings Per Share before unusual items (Riyals) | 4.18 | 5.09 | 21.9 % |
| EPS (Riyal) | 4.18 | 5.09 | 21.9 % |
The profit increase was buoyed by 19.8% revenue growth year-on-year (YoY), driven by successful strategic initiatives to expand sales in key markets and therapeutic areas. This growth was supported by the launch of new products and enhanced manufacturing capabilities, thanks to the modern facilities operating in Egypt and Saudi Arabia.
Additionally, the overall expansion in the pharmaceutical market contributed to strong revenue.
Profits from the joint venture in Algeria contributed to the growth in profits, compensating for the negative impact of foreign currencies due to the depreciation of the Egyptian pound.
Current Quarter Comparison (Million Riyal)
| Item | Q4 2023 | Q4 2024 | Change |
|---|---|---|---|
| Revenues | 208.96 | 259.70 | 24.3 % |
| Gross Income | 118.91 | 158.51 | 33.3 % |
| Operating Income | 42.24 | 54.18 | 28.3 % |
| Net Income | 44.48 | 51.61 | 16.0 % |
| Average Shares | 70.00 | 70.00 | - |
| Earnings Per Share before unusual items (Riyal) | 0.64 | 0.74 | 16.0 % |
| EPS (Riyal) | 0.64 | 0.74 | 16.0 % |
The fourth-quarter earnings jumped 16% to SAR 51.6 million, compared to SAR 44.48 million in the year-ago period.
On a quarterly basis, the company posted a 45.7% decline in Q4 profit from SAR 94.99 million.
Shareholders’ equity, no minority interest, increased to SAR 1.49 billion as of Dec. 31, 2024, compared to SAR 1.40 billion a year earlier.
Attached Documents
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Share Price
| Current | |
| Market Cap (M Riyal) | 8,190.00 |
| Enterprise Value (EV) (M Riyal) | 8,043.53 |
| Shares Outstanding ((M)) | 70.00 |
| Recurring EPS ( Riyal) (TTM) | 6.92 |
| Book Value (BV) ( Riyal) | 26.11 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E (TTM) | 16.92 |
| P/E (TTM) | 16.92 |
| Price/book | 4.48 |
| Dividend Yield (%) (Last Year) | 3.42 |
| Return on Average Assets (%) (TTM) | 21.8 |
| Return on Average Equity (%) (TTM) | 27.8 |
| EV/adj EBITDA | 14.69 |
| EV/Revenues | 5.07 |
Financial results (Million Riyal)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2024 | 385.46 | 28.1 % | 249.40 | 24.9 % | 126.58 | 34.8 % |
| Q2 2024 | 345.74 | 15.9 % | 218.18 | 10.1 % | 104.26 | 12.6 % |
| Q3 2024 | 327.58 | 11.9 % | 194.41 | 3.8 % | 95.67 | 13.0 % |
| Q4 2024 | 259.70 | 24.3 % | 158.51 | 33.3 % | 54.18 | 28.3 % |
| 2024 | 1,318.48 | 19.8 % | 820.50 | 16.6 % | 380.70 | 21.5 % |
Profit Performance (Million Riyal)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| Q1 2024 | 102.97 | 20.1 % | 1.47 | - | 102.97 | 1.47 |
| Q2 2024 | 106.95 | 24.0 % | 1.53 | - | 106.95 | 1.53 |
| Q3 2024 | 94.99 | 25.1 % | 1.36 | - | 94.99 | 1.36 |
| Q4 2024 | 51.61 | 16.0 % | 0.74 | - | 51.61 | 0.74 |
| 2024 | 356.52 | 21.9 % | 5.09 | - | 356.52 | 5.09 |
Profitability
| Period | Gross Margin | Adjusted EBITDA margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2023 | 64.62 % | 28.21 % | 23.90 % |
| Q2 2023 | 65.22 % | 29.98 % | 25.56 % |
| Q3 2023 | 65.25 % | 30.78 % | 26.33 % |
| Q4 2023 | 63.94 % | 30.89 % | 26.56 % |
| 2023 | 63.94 % | 30.89 % | 26.56 % |
| Q1 2024 | 63.57 % | 31.55 % | 26.12 % |
| Q2 2024 | 62.76 % | 31.56 % | 26.80 % |
| Q3 2024 | 61.60 % | 31.80 % | 27.56 % |
| Q4 2024 | 62.23 % | 31.71 % | 27.04 % |
| 2024 | 62.23 % | 31.71 % | 27.04 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2024 | 70.00 | 4.42 | 4.42 | 20.88 |
| Q2 2024 | 70.00 | 4.72 | 4.72 | 20.90 |
| Q3 2024 | 70.00 | 4.99 | 4.99 | 20.64 |
| Q4 2024 | 70.00 | 5.09 | 5.09 | 21.29 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| Q1 2024 | 28.71 | 28.71 | 6.08 |
| Q2 2024 | 30.81 | 30.81 | 6.96 |
| Q3 2024 | 38.19 | 38.19 | 9.24 |
| Q4 2024 | 29.88 | 29.88 | 7.15 |
Business Segments (Million Riyal)
Q4 2024
| Period | Pharmaceutical products | Consumer Health Products |
|---|---|---|
| Q1 2024 | 334.33 | 51.13 |
| Q2 2024 | 299.43 | 46.30 |
| Q3 2024 | 282.33 | 45.24 |
| Q4 2024 | 223.31 | 36.39 |
Analysts Estimates (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| Average | 55.80 | 51.61 |
Estimates vs Actual (Million Riyal)
| Item | Profit (Expected) | Profit (Actual) | Change |
|---|---|---|---|
| SNB Capital | 49.80 | 51.61 | |
| OSOOL AND BAKHEET | 55.21 | 51.61 | |
| Al Rajhi Capital | 48.00 | 51.61 | |
| GIB Capital | 57.00 | 51.61 | |
| United Securities Company | 69.00 | 51.61 |
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