Sumou reports net profit surge to SAR 19.1M in Q1 2024

07/05/2024 Argaam Exclusive

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Sumou Real Estate Co. reported a net profit of SAR 19.1 million in Q1 2024, a more than two-fold increase from SAR 8.9 million in the year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	52.73	80.97	53.5 %
Gross Income	12.69	21.53	69.6 %
Operating Income	9.74	16.02	64.4 %
Net Income	8.92	19.11	114.2 %
Average Shares	50.00	50.00	-
EPS (Riyals)	0.18	0.38	114.2 %

Item	Q4 2023	Q1 2024	Change‬
Revenues	79.55	80.97	1.8 %
Gross Income	25.49	21.53	(15.5 %)
Operating Income	20.56	16.02	(22.1 %)
Net Income	24.78	19.11	(22.9 %)
Average Shares	50.00	50.00	-
EPS (Riyals)	0.50	0.38	(22.9 %)

This is spurred by implementing and developing new real estate projects, in addition to the increase in investments returns from associate companies.

On a quarterly basis, net earnings declined 22.9% from SAR 24.7 million in Q4 2023, due to lower revenue generated from real estate project management fees, as well as an increase in business development expenses.

Shareholders’ equity, after minority interest, reached SAR 555.74 million by March 31, 2024, compared to SAR 505.61 million in the prior year period

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	26.85	-	9.47	-	(18.82)	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	113.17	321.6 %	101.56	972.6 %	85.16	552.4 %
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	257.75	127.8 %	93.51	(7.9 %)	80.28	(5.7 %)
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	179.99	(30.2 %)	97.05	3.8 %	83.50	4.0 %
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	97.16	(46.0 %)	87.28	(10.1 %)	80.02	(4.2 %)
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	103.13	6.1 %	61.59	(29.4 %)	53.28	(33.4 %)
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	59.91	-	26.14	-	24.00	-
Q4 2022	66.44	-	18.33	-	14.71	-
2022	282.42	173.9 %	76.70	24.5 %	66.09	24.1 %
Q1 2023	52.73	-	12.69	-	9.74	-
Q2 2023	66.97	-	43.05	-	40.58	-
Q3 2023	74.57	24.5 %	34.81	33.2 %	31.98	33.3 %
Q4 2023	79.55	19.7 %	25.49	39.1 %	20.56	39.8 %
2023	273.82	(3.0 %)	116.05	51.3 %	102.86	55.6 %
Q1 2024	80.97	53.5 %	21.53	69.6 %	16.02	64.4 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	26.85	-	9.47	-	(18.82)	-
2017	113.17	321.6 %	101.56	972.6 %	85.16	552.4 %
2018	257.75	127.8 %	93.51	(7.9 %)	80.28	(5.7 %)
2019	179.99	(30.2 %)	97.05	3.8 %	83.50	4.0 %
2020	97.16	(46.0 %)	87.28	(10.1 %)	80.02	(4.2 %)
2021	103.13	6.1 %	61.59	(29.4 %)	53.28	(33.4 %)
2022	282.42	173.9 %	76.70	24.5 %	66.09	24.1 %
2023	273.82	(3.0 %)	116.05	51.3 %	102.86	55.6 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	61.68	-	1.23	-	61.68	1.23
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	64.88	5.2 %	1.30	-	64.88	1.30
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	67.48	4.0 %	1.35	-	67.48	1.35
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	69.80	3.4 %	1.40	-	69.80	1.40
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	71.38	2.3 %	1.43	-	71.38	1.43
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	81.21	13.8 %	1.62	-	81.21	1.62
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	26.46	-	0.53	-	26.46	0.53
Q4 2022	15.72	-	0.31	-	15.72	0.31
2022	87.64	7.9 %	1.75	-	87.64	1.75
Q1 2023	8.92	-	0.18	-	8.92	0.18
Q2 2023	40.68	-	0.81	-	40.68	0.81
Q3 2023	28.63	8.2 %	0.57	-	28.63	0.57
Q4 2023	24.78	57.6 %	0.50	(2.04)	26.81	0.54
2023	103.01	17.5 %	2.06	(2.04)	105.04	2.10
Q1 2024	19.11	114.2 %	0.38	-	19.11	0.38

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	61.68	-	1.23	-	61.68	1.23
2017	64.88	5.2 %	1.30	-	64.88	1.30
2018	67.48	4.0 %	1.35	-	67.48	1.35
2019	69.80	3.4 %	1.40	-	69.80	1.40
2020	71.38	2.3 %	1.43	-	71.38	1.43
2021	81.21	13.8 %	1.62	-	81.21	1.62
2022	87.64	7.9 %	1.75	-	87.64	1.75
2023	103.01	17.5 %	2.06	(2.04)	105.04	2.10

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	35.27 %	(65.62 %)	229.77 %
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	89.74 %	76.07 %	57.33 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	36.28 %	31.46 %	26.18 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	53.92 %	46.76 %	38.78 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	89.83 %	82.69 %	73.47 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	59.72 %	53.26 %	78.75 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	27.16 %	24.14 %	31.03 %
Q1 2023	-	-	-
Q2 2023	40.73 %	37.07 %	37.30 %
Q3 2023	41.77 %	38.07 %	36.04 %
Q4 2023	42.38 %	38.38 %	38.36 %
2023	42.38 %	38.38 %	38.36 %
Q1 2024	41.47 %	37.01 %	38.15 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	35.27 %	(65.62 %)	229.77 %
2017	89.74 %	76.07 %	57.33 %
2018	36.28 %	31.46 %	26.18 %
2019	53.92 %	46.76 %	38.78 %
2020	89.83 %	82.69 %	73.47 %
2021	59.72 %	53.26 %	78.75 %
2022	27.16 %	24.14 %	31.03 %
2023	42.38 %	38.38 %	38.36 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	43.64 %	40.92 %	44.17 %
Q4 2022	27.59 %	23.00 %	23.66 %
Q1 2023	24.07 %	19.50 %	16.92 %
Q2 2023	64.29 %	61.42 %	60.74 %
Q3 2023	46.69 %	43.64 %	38.40 %
Q4 2023	32.05 %	26.56 %	33.70 %
Q1 2024	26.59 %	20.50 %	23.61 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	-	-	-	-
Q3 2020	-	-	-	-
Q4 2020	-	-	-	-
Q1 2021	-	-	-	-
Q2 2021	-	-	-	-
Q3 2021	-	-	-	-
Q4 2021	-	-	-	-
Q1 2022	-	-	-	-
Q2 2022	-	-	-	-
Q3 2022	50.00	-	-	9.79
Q4 2022	50.00	-	-	10.68
Q1 2023	50.00	-	-	10.11
Q2 2023	50.00	1.84	1.84	10.91
Q3 2023	50.00	1.88	1.88	10.63
Q4 2023	50.00	2.06	2.10	10.73
Q1 2024	50.00	2.26	2.30	11.11

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	50.00	1.23	1.23	4.79
2017	50.00	1.30	1.30	6.10
2018	50.00	1.35	1.35	6.47
2019	50.00	1.40	1.40	7.56
2020	50.00	1.43	1.43	8.02
2021	50.00	1.62	1.62	9.09
2022	50.00	1.75	1.75	10.68
2023	50.00	2.06	2.10	10.73

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	4.09
Q4 2022	-	-	3.48
Q1 2023	-	-	3.31
Q2 2023	20.20	20.20	3.40
Q3 2023	19.03	19.03	3.37
Q4 2023	15.54	15.24	2.98
Q1 2024	20.42	20.06	4.16

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	34.66	34.66	6.17
2021	28.83	28.83	5.15
2022	21.20	21.20	3.48
2023	15.54	15.24	2.98

Business Segments (Million)

Compared With The

Period	Real estate contracting	Real estate project management	investment	Joint assets and liabilities	Other activities
Q1 2023	39.99	12.74	-	-	-
Q2 2023	20.75	46.22	-	-	-
Q3 2023	38.69	35.88	-	-	-
Q4 2023	61.35	18.20	-	-	-
Q1 2024	61.21	19.76	-	-	-

Period	Real estate contracting	Real estate project management	investment	Joint assets and liabilities	Other activities
2017	13.65	88.27	11.25	-	-
2018	201.70	56.05	-	-	-
2019	99.33	41.49	27.84	-	11.32
2020	1.00	92.52	3.64	-	-
2021	35.22	67.91	-	-	-
2022	214.79	67.63	-	-	-
2023	160.78	113.03	-	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	1,965.00
Enterprise Value (EV) (M)	1,765.27
Shares Outstanding ((M))	50.00
EPS ( Riyal) (TTM)	2.16
Book Value (BV) ( Riyal)	11.66
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	17.85
P/E (TTM)	18.19
Price/book	3.37
Return on Average Assets (%) (TTM)	10.8
Return on Average Equity (%) (TTM)	19.4

Sumou Real Estate Co. (SUMOU)

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Sumou reports net profit surge to SAR 19.1M in Q1 2024

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q1

Financial Ratios

Share Price

Sumou Real Estate Co. (SUMOU)

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Sumou reports net profit surge to SAR 19.1M in Q1 2024

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2024

Revenue by Business Segment (Latest) 2024 Q1

Financial Ratios

Share Price

Sumou Real Estate Co. (SUMOU)

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Business Segments (Million)