MBC Group reports SAR 212.1M profit in H1 2024, Q2 at SAR 102.6M
08/08/2024
Argaam Exclusive
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MBC Group Co. reported a profit of SAR 212.1 million in H1 2024, compared to SAR 46.3 million a year ago.
Financials (M)
| Item | 6m 2023 | 6m 2024 | Change |
|---|---|---|---|
| Revenues | 1,999.72 | 2,199.62 | 10.0 % |
| Gross Income | 448.27 | 698.93 | 55.9 % |
| Operating Income | (3.29) | 157.22 | 4875.7 % |
| Net Income | 46.27 | 212.06 | 358.3 % |
| Average Shares | 299.25 | 332.50 | 11.1 % |
| EPS (Riyals) | 0.15 | 0.64 | 312.5 % |
The profit growth in H1 2024 was attributed to acquiring subsidiaries at the end of H1 2023, so there were no revenues or expenses for that period.
Compared With The
Current Quarter Comparison (M)
| Item | Q2 2023 | Q2 2024 | Change |
|---|---|---|---|
| Revenues | 1,090.64 | 963.87 | (11.6 %) |
| Gross Income | 288.00 | 354.02 | 22.9 % |
| Operating Income | 46.55 | 92.90 | 99.6 % |
| Net Income | 69.18 | 116.49 | 68.4 % |
| Average Shares | 299.25 | 332.50 | 11.1 % |
| EPS (Riyals) | 0.23 | 0.35 | 51.5 % |
Q2 2024 net surged 48.2% to SAR 102.6 million from SAR 69.18 million in the year earlier period.
On a quarterly basis, Q2 2024 net earnings retreated 15.4% from SAR 102.56 million in Q1 2024.
Shareholders’ equity, after minority interest, reached SAR 3.98 billion by June 30, 2024, compared to SAR 2.99 billion a year ago.
Earnings per share for the current period amounted to SAR 0.64 by dividing net income over a weighted average number of shares.
Attached Documents
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2024 | 1,235.75 | 35.9 % | 344.91 | 115.2 % | 64.31 | 229.0 % |
| Q2 2024 | 963.87 | (11.6 %) | 354.02 | 22.9 % | 92.90 | 99.6 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2024 | 121.28 | 629.3 % | 0.36 | 10.35 | 110.93 | 0.33 |
| Q2 2024 | 116.49 | 68.4 % | 0.35 | - | 116.49 | 0.35 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2024 | 27.44 % | 1.18 % | 3.59 % |
| Q2 2024 | 30.02 % | 2.95 % | 5.93 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2024 | 332.50 | 0.63 | 0.44 | 11.68 |
| Q2 2024 | 332.50 | 0.77 | 0.70 | 11.99 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2024 | 90.31 | More than 100 | 4.87 |
| Q2 2024 | 55.68 | 61.78 | 3.59 |
Business Segments (Million)
Q2 2024
| Period | Broadcasting and Other Commercial Activities | Shahid | M&E Initiatives | MBC Studios | others | Eliminations |
|---|---|---|---|---|---|---|
| Q1 2024 | 774.88 | 298.19 | 162.68 | - | - | - |
| Q2 2024 | 565.66 | 259.14 | 139.07 | - | - | - |
Analysts Estimates (Million)
| Item | Q2 2024 (e) | Q2 2024 (a) | Change |
|---|---|---|---|
| Average | 51.75 | 116.49 | 125.10 % |
Estimates vs Actual (Million)
| Item | Q2 2024 (e) | Q2 2024 (a) | Change |
|---|---|---|---|
| SNB Capital | 72.50 | 116.49 | 60.7 % |
| JP Morgan | 31.00 | 116.49 | 275.8 % |
| 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) | - |
Share Price
MBC Group Co. (MBC GROUP)
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