Multi Business 2024 profit jumps 19% to SAR 20.6M; H2 at SAR 16.1M
View other reports
Multi Business Group reported a 19% rise in net profit to SAR 20.6 million for 2024, compared to SAR 17.3 million a year earlier.
Financials (M)
| Item | 2023 | 2024 | Change |
|---|---|---|---|
| Revenues | 124.83 | 135.05 | 8.2 % |
| Gross Income | 27.19 | 30.51 | 12.2 % |
| Operating Income | 20.05 | 24.00 | 19.7 % |
| Net Income | 17.26 | 20.55 | 19.1 % |
| Average Shares | 12.00 | 15.00 | 25.0 % |
| Earnings Per Share before unusual items (Riyals) | 1.44 | 1.37 | (4.7 %) |
| EPS (Riyals) | 1.44 | 1.37 | (4.7 %) |
The annual profit rise was spurred by an 8% increase year-on-year (YoY) in total revenue. Gross profit jumped 12% YoY on cost of sales control. On the other hand, general and administrative expenses (G&A) declined 8% YoY as the credit losses expected from contract assets fell.
Moreover, the company recorded a 45% drop YoY in finance costs due to reduced dependence on external debt and better liquidity.
However, Zakat expenses increased 161% YoY.
Current Half Annual Comparison (M)
| Item | H2 2023 | H2 2024 | Change |
|---|---|---|---|
| Revenues | 83.32 | 81.91 | (1.7 %) |
| Gross Income | 20.38 | 20.52 | 0.7 % |
| Operating Income | 18.10 | 18.27 | 0.9 % |
| Net Income | 17.27 | 16.09 | (6.9 %) |
| Average Shares | 12.00 | 15.00 | 25.0 % |
| Earnings Per Share before unusual items (Riyals) | 1.44 | 1.07 | (25.5 %) |
| EPS (Riyals) | 1.44 | 1.07 | (25.5 %) |
The second-half net profit declined 7% to SAR 16.1 million, from SAR 17.2 million in H2 2023.
Compared to H1 2024, net earnings skyrocketed 260.3% from SAR 4.47 million.
Shareholders’ equity, no minority interest, reached SAR 88.29 million as of Dec. 31, 2024, up from SAR 28.36 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2024 | 53.14 | 28.0 % | 9.99 | 46.7 % | 5.74 | 193.6 % |
| H2 2024 | 81.91 | (1.7 %) | 20.52 | 0.7 % | 18.27 | 0.9 % |
| 2024 | 135.05 | 8.2 % | 30.51 | 12.2 % | 24.00 | 19.7 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | Earnings Per Share before unusual items |
|---|---|---|---|---|---|---|
| H1 2024 | 4.47 | 43878.4 % | 0.37 | - | 4.47 | 0.37 |
| H2 2024 | 16.09 | (6.9 %) | 1.07 | - | 16.09 | 1.07 |
| 2024 | 20.55 | 19.1 % | 1.37 | - | 20.55 | 1.37 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2024 | 21.13 % | 16.04 % | 12.86 % |
| H2 2024 | 22.20 % | 17.63 % | 14.55 % |
| 2024 | 22.59 % | 18.35 % | 15.22 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2024 | 12.00 | 2.49 | 2.49 | 2.57 |
| H2 2024 | 15.00 | 2.52 | 2.52 | 5.89 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2024 | - | - | - |
| H2 2024 | 5.89 | 5.89 | 2.52 |
Business Segments (Million)
Q4 2024
| Period | Semi-Governmental | Governmental | Private & Individuals |
|---|---|---|---|
| Q2 2024 | 37.53 | 5.99 | 9.62 |
| Q4 2024 | 38.59 | 25.50 | 17.82 |
| Current | |
| Market Cap (M Riyal) | 292.20 |
| Enterprise Value (EV) (M) | - |
| Shares Outstanding ((M)) | 15.00 |
| Book Value (BV) ( Riyal) | 5.89 |
| Par Value ( Riyal) | 1.00 |
| Adjusted P/E (Last12) | 14.22 |
| Price/book | 3.31 |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}