Multi Business Group logs SAR 4.5M net profit in H1 2024

Multi Business Group logs SAR 4.5M net profit in H1 2024

21/10/2024 Argaam Exclusive

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Multi Business Group (MBG), poised for listing on the Nomu-Parallel Market, posted SAR 4.5 million in net profit for H1 2024, against SAR 10,200 net losses in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 41.51 53.14 28.0 %
Gross Income 6.81 9.99 46.7 %
Operating Income 1.95 5.74 193.6 %
Net Income (0.01) 4.47 43878.4 %
Average Shares 12.00 12.00 -
EPS (Riyals) 0.00 0.37 43878.4 %

The company ascribed the six-month profit-making to a rise in revenues from the contracting and construction segments, as well as higher gross and operating profit margins. This was coupled with lower general and administrative expenses, the company said in a statement to Tadawul today, Oct. 21.



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 41.51 53.14 28.0 %
Gross Income 6.81 9.99 46.7 %
Operating Income 1.95 5.74 193.6 %
Net Income (0.01) 4.47 43878.4 %
Average Shares 12.00 12.00 -
EPS (Riyals) 0.00 0.37 43878.4 %

Shareholders' equity (no minority interest) amounted to SAR 30.88 million in H1 2024, compared to SAR 11.03 million in H1 2023.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 - - - - - -
H2 2021 - - - - - -
H1 2022 - - - - - -
H2 2022 - - - - - -
H1 2023 41.51 - 6.81 - 1.95 -
H2 2023 83.32 - 21.22 - 18.10 -
H1 2024 53.14 28.0 % 9.99 46.7 % 5.74 193.6 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 - - - - - -
H2 2021 - - - - - -
H1 2022 - - - - - -
H2 2022 - - - - - -
H1 2023 (0.01) - 0.00 - (0.01) 0.00
H2 2023 17.27 - 1.44 - 17.27 1.44
H1 2024 4.47 43878.4 % 0.37 - 4.47 0.37

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - -
H1 2023 - - -
H2 2023 22.45 % - 13.83 %
H1 2024 22.86 % - 15.93 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 - - - -
H2 2021 - - - -
H1 2022 - - - -
H2 2022 - - - -
H1 2023 12.00 - - 0.90
H2 2023 12.00 1.44 1.44 2.36
H1 2024 12.00 1.81 1.81 2.57

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 - - -
H2 2022 - - -
H1 2023 - - -
H2 2023 - - -
H1 2024 - - -

Business Segments (Million)

Compared With The
Period Semi-Governmental Governmental Private & Individuals
Q2 2022 8.02 13.76 9.72
Q4 2022 24.46 21.46 8.60
Q2 2023 20.32 14.38 6.80
Q4 2023 54.78 17.62 10.92
Q2 2024 37.53 5.99 9.62


Financial Ratios
Current
Market Cap (M Riyal) 211.80
Enterprise Value (EV) (M) 215.49
Shares Outstanding ((M)) 15.00
Book Value (BV) ( Riyal) 2.36
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 12.27
Price/book 7.47
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Share Price

Multi Business Group Co.
14.12
(0.88) (5.87 %)

Multi Business Group Co. (MULTI BUSINESS)

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