MBC Group posts SAR 109.5M profit in Q1 2024

16/05/2024 Argaam Exclusive

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MBC Group Co. reported a net profit of SAR 109.5 million in Q1 2024, compared to a net loss of SAR 22.9 million a year ago.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	909.08	1,235.75	35.9 %
Gross Income	160.27	344.91	115.2 %
Operating Income	(49.84)	64.31	229.0 %
Net Income	(22.91)	121.28	629.3 %
Average Shares	299.25	332.50	11.1 %
EPS (Riyals)	(0.08)	0.36	576.4 %

Item	Q4 2023	Q1 2024	Change‬
Revenues	1,054.85	1,235.75	17.1 %
Gross Income	298.27	344.91	15.6 %
Operating Income	(41.84)	64.31	253.7 %
Net Income	13.26	121.28	814.4 %
Average Shares	299.25	332.50	11.1 %
EPS (Riyals)	0.04	0.36	723.0 %

The improved results were supported by a 36% leap in total revenues, as well as a 116% surge in gross profit. The group also cited a net profit margin of 10% against a negative margin of -2% a year earlier.

The Group does not have comparative figures for the current reporting period, as it was incorporated on April 20, 2023.

Shareholders’ equity, after minority interest, reached SAR 3.88 billion by March 31, 2024, with no comparative data.

Attached Document:

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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	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	2,317.58	-	455.58	-	(125.42)	-
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	2,845.47	22.8 %	717.46	57.5 %	24.28	119.4 %
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	3,488.73	22.6 %	641.14	(10.6 %)	(174.06)	(816.9 %)
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 %
Q1 2024	1,235.75	35.9 %	344.91	115.2 %	64.31	229.0 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	2,317.58	-	455.58	-	(125.42)	-
2021	2,845.47	22.8 %	717.46	57.5 %	24.28	119.4 %
2022	3,488.73	22.6 %	641.14	(10.6 %)	(174.06)	(816.9 %)
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 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
Q1 2020	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-
2020	(95.42)	-	(0.32)	-	(95.42)	(0.32)
Q1 2021	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-
2021	737.15	872.5 %	2.46	375.00	362.15	1.21
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	34.97	(95.3 %)	0.12	187.50	(152.53)	(0.51)
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
Q1 2024	121.28	629.3 %	0.36	10.35	110.93	0.33

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	(95.42)	-	(0.32)	-	(95.42)	(0.32)
2021	737.15	872.5 %	2.46	375.00	362.15	1.21
2022	34.97	(95.3 %)	0.12	187.50	(152.53)	(0.51)
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 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	19.66 %	(2.18 %)	(4.12 %)
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	25.21 %	3.63 %	12.73 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	18.38 %	(2.85 %)	(4.37 %)
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	24.87 %	-	0.29 %
2023	24.87 %	-	0.29 %
Q1 2024	27.44 %	1.18 %	3.59 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	19.66 %	(2.18 %)	(4.12 %)
2021	25.21 %	3.63 %	12.73 %
2022	18.38 %	(2.85 %)	(4.37 %)
2023	24.87 %	-	0.29 %

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	-	-	-
Q4 2022	-	-	-
Q1 2023	17.63 %	-	(2.52 %)
Q2 2023	26.41 %	-	2.73 %
Q3 2023	26.91 %	-	0.89 %
Q4 2023	28.28 %	-	(0.16 %)
Q1 2024	27.91 %	6.88 %	8.98 %

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	-	-	-	-
Q4 2022	-	-	-	-
Q1 2023	299.25	-	-	-
Q2 2023	299.25	-	-	10.00
Q3 2023	299.25	-	-	-
Q4 2023	299.25	0.22	0.04	12.63
Q1 2024	332.50	0.63	0.44	11.68

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	299.25	(0.32)	(0.32)	7.18
2021	299.25	2.46	1.21	9.67
2022	299.25	0.12	(0.51)	9.87
2023	299.25	0.22	0.04	12.63

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	-	-	-
Q4 2022	-	-	-
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	-	-	-
Q1 2024	90.31	More than 100	4.87

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	-	-	-
2023	-	-	-

Business Segments (Million)

Compared With The

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	-	-	-
Q1 2024	774.88	298.19	162.68	-	-	-

Period	Broadcasting and Other Commercial Activities	Shahid	M&E Initiatives	MBC Studios	others	Eliminations
2020	1,751.13	219.80	-	154.43	254.84	(62.62)
2021	2,067.07	448.90	-	182.26	452.87	(305.63)
2022	2,034.42	701.16	-	548.94	532.09	(327.87)

Financial Ratios

	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)	-

MBC Group Co. (MBC GROUP)

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MBC Group posts SAR 109.5M profit 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

MBC Group Co. (MBC GROUP)

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MBC Group posts SAR 109.5M profit 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

MBC Group Co. (MBC GROUP)

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Business Segments (Million)