MBC Group earns SAR 65.3M in 2023
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MBC Group Co. reported net profits before minority interest of SAR 65.3 million in 2023, compared to SAR 35 million a year before.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 3,488.73 | 3,703.90 | 6.2 % |
| Gross Income | 641.14 | 921.27 | 43.7 % |
| Operating Income | (174.06) | (87.31) | 49.8 % |
| Net Income | 34.97 | 65.29 | 86.7 % |
| Average Shares | 299.25 | 299.25 | - |
| EPS (Riyals) | 0.12 | 0.22 | 86.7 % |
MBC Group recorded higher revenue, supported by growth across all its income-generating activities.
The subscriber base of the Shahid platform increased by 40% year-on-year (YoY) to 3.98 million. The group witnessed growth in digital advertising revenue, supported by the growth of Shahid, which also narrowed losses in 2023.
The group does not have comparative figures, as the current reporting period begins from the date of establishment (April 20, 2023) until the end date of the period (December 31, 2023).
Current Quarter Comparison (M)
| Item | Q4 2022 | Q4 2023 | Change |
|---|
Shareholders' equity, after minority interest, reached SAR 3.77 billion as of Dec. 31, 2023.
Attached Documents
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2023 | 909.08 | - | 160.27 | - | (49.84) | - |
| Q2 2023 | 1,090.64 | - | 288.00 | - | 46.55 | - |
| Q3 2023 | 649.34 | - | 174.73 | - | (42.18) | - |
| Q4 2023 | 1,054.85 | - | 298.27 | - | (41.84) | - |
| 2023 | 3,703.90 | 6.2 % | 921.27 | 43.7 % | (87.31) | 49.8 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2023 | (22.91) | - | (0.08) | - | (22.91) | (0.08) |
| Q2 2023 | 69.18 | - | 0.23 | 39.38 | 29.80 | 0.10 |
| Q3 2023 | 5.76 | - | 0.02 | - | 5.76 | 0.02 |
| Q4 2023 | 13.26 | - | 0.04 | 15.00 | (1.74) | (0.01) |
| 2023 | 65.29 | 86.7 % | 0.22 | 54.38 | 10.91 | 0.04 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2023 | - | - | - |
| Q2 2023 | - | - | - |
| Q3 2023 | - | - | - |
| Q4 2023 | 24.87 % | - | 0.29 % |
| 2023 | 24.87 % | - | 0.29 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2023 | 299.25 | - | - | - |
| Q2 2023 | 299.25 | - | - | 10.00 |
| Q3 2023 | 299.25 | - | - | - |
| Q4 2023 | 299.25 | 0.22 | 0.04 | 12.63 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2023 | - | - | - |
| Q2 2023 | - | - | - |
| Q3 2023 | - | - | - |
| Q4 2023 | - | - | - |
Business Segments (Million)
Q3 2023
| Period | Broadcasting and Other Commercial Activities | Shahid | M&E Initiatives | MBC Studios | others | Eliminations |
|---|---|---|---|---|---|---|
| Q1 2023 | 551.28 | 172.46 | 185.34 | - | - | - |
| Q2 2023 | 561.92 | 223.20 | 305.52 | - | - | - |
| Q3 2023 | 353.81 | 197.23 | 98.31 | - | - | - |
| Current | |
| Market Cap (M Riyal) | 15,511.13 |
| Enterprise Value (EV) (M) | 14,311.34 |
| Shares Outstanding ((M)) | 332.50 |
| EPS ( Riyal) (TTM) | 0.78 |
| Book Value (BV) ( Riyal) | 12.01 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | More than 100 |
| P/E (TTM) | More than 100 |
| Price/book | 3.88 |
| Return on Average Assets (%) (TTM) | - |
| Return on Average Equity (%) (TTM) | - |
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