Derayah Financial 9M 2024 net profit up 57% to SAR 336.3M; Q3 at SAR 108.3M

26/01/2025 Argaam Exclusive
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Derayah Financial Co. posted SAR 336.3 million net profit for the first nine months of 2024, an increase of 57% year-on-year (YoY) from SAR 214.7 million.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 437.18 644.04 47.3 %
Operating Income 250.21 384.90 53.8 %
Net Income 214.72 336.32 56.6 %
Average Shares 249.74 249.74 -
Earnings Per Share before unusual items 0.86 1.35 56.6 %
EPS (Riyals) 0.86 1.35 56.6 %

The company’s total revenues rose by 47% in the nine-month period, driven mainly by the 31% jump YoY in brokerage revenues, as well as higher income from Murabaha, asset management and investment segments.

 

Moreover, gross profit margin was up 79% in 9M 2024, compared to 74% in prior-year period. Net operating income rose to 60%, from 57% in the first nine months of 2023.

 

Earnings before interest, taxes, depreciation, and amortization (EBITDA) was up 54% to SAR 399.28 million, compared to SAR 260.06 million in the year-ago period.

 

The profit-rise came despite the company's higher share in losses from its affiliate.

 

Meanwhile, Q3 net profit rose 34% YoY to SAR 108.3 million.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 171.45 209.84 22.4 %
Operating Income 97.47 130.16 33.5 %
Net Income 80.72 108.31 34.2 %
Average Shares 249.74 249.74 -
Earnings Per Share before unusual items 0.32 0.43 34.2 %
EPS (Riyals) 0.32 0.43 34.2 %

Shareholders’ equity (no minority interest) amounted to SAR 848.26 million by the end of 9M 2024, compared to SAR 830.74 million in the same period a year ago.

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Share Price

Derayah Financial Co.
36.80
(0.40) (1.08 %)

Derayah Financial Co. (DERAYAH)

1 Day (1.08 %) 5 Days (0.67 %) 3 Months (5.64 %) 6 Months (5.64 %) Year (5.64 %) 2 Years (5.64 %) 5 Years (5.64 %) All (5.64 %)
Created with Highstock 6.0.710:1510:3010:4511:0011:1511:3011:4512:0012:1512:3012:4513:0013:1513:3013:4514:0014:1514:3014:4515:1536.6036.7036.8036.9037.0037.1037.2037.30
Close : 36.80 | Mar 27, 15:19
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Financial Ratios
Current
Market Cap (M Riyal) 9,190.43
Enterprise Value (EV) (M) 9,104.24
Shares Outstanding ((M)) 249.74
EPS ( Riyal) (TTM) 1.78
Book Value (BV) ( Riyal) 3.84
Par Value ( Riyal) 2.00
Adjusted P/E (Last12) 20.70
P/E (TTM) 20.70
Price/book 9.60
Return on Average Assets (%) (TTM) 39.1
Return on Average Equity (%) (TTM) 44.4
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Comments 1

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BSAT

منذ 2 شهر

I belive looking at just 9M 2024 figures is a bit misleading. When looking at the last 3 years financials, numbers and growth aren't that attractive.

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