Al Arabia Q1 2024 profit rises 11% to SAR 100.8M

19/05/2024 Argaam Exclusive

View other reports

Arabian Contracting Services Co. (Al Arabia) reported a net profit rise of 11% to SAR 100.8 million in Q1 2024, compared to SAR 90.8 million a year earlier.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	312.37	439.07	40.6 %
Gross Income	143.56	203.54	41.8 %
Operating Income	114.72	158.96	38.6 %
Net Income	90.82	100.82	11.0 %
Average Shares	50.00	50.00	-
EPS (Riyals)	1.82	2.02	11.0 %

Item	Q4 2023	Q1 2024	Change‬
Revenues	369.19	439.07	18.9 %
Gross Income	189.24	203.54	7.6 %
Operating Income	132.20	158.96	20.2 %
Net Income	79.44	100.82	26.9 %
Average Shares	50.00	50.00	-
EPS (Riyals)	1.59	2.02	26.9 %

Revenues from both outdoor and indoor advertisements sectors rose by 39% and 92%, respectively, due to operating the advertising spaces at King Khalid International Airport and reflecting the financial impact of the full acquisition of Faden Media Co. This is in addition to implementing several advertising campaigns related to seasonal activities and events such as the holy month of Ramadan, Saudi Foundation Day, and completing the Riyadh calendar activities during the quarter.

Digital transformation initiatives and the adoption of smart solutions in outdoor advertising mediums also contributed to expanding advertising spaces and increasing the capacity to accommodate a larger segment of campaigns and advertisers.

Operating profits jumped by 39% year-on-year (YoY) to SAR 159 million in Q1 2024.

Q1 2024 net earnings leapt 26.9% from SAR 79.44 million in Q4 2023 as topline grew by 19% quarter-on-quarter (QoQ). Operating profits also increased 20% QoQ.

Total shareholders' equity, after minority interest, reached SAR 1.21 billion at the end of Q1 2024, up from SAR 906.36 million a year earlier.

View More Financial Results

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	612.30	-	176.29	-	130.71	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	639.16	4.4 %	190.13	7.9 %	146.90	12.4 %
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	787.50	23.2 %	336.42	76.9 %	264.45	80.0 %
Q1 2020	181.46	-	87.17	-	76.12	-
Q2 2020	32.93	-	(70.04)	-	(77.89)	-
Q3 2020	107.37	-	12.32	-	1.17	-
Q4 2020	175.83	-	69.60	-	52.03	-
2020	497.59	(36.8 %)	99.05	(70.6 %)	51.43	(80.6 %)
Q1 2021	148.58	(18.1 %)	50.12	(42.5 %)	36.65	(51.9 %)
Q2 2021	157.53	378.4 %	86.08	222.9 %	65.95	184.7 %
Q3 2021	188.39	75.5 %	86.76	604.5 %	68.84	5783.6 %
Q4 2021	226.13	28.6 %	107.32	54.2 %	89.90	72.8 %
2021	720.63	44.8 %	330.28	233.5 %	261.33	408.2 %
Q1 2022	287.40	93.4 %	129.11	157.6 %	106.01	189.2 %
Q2 2022	263.64	67.4 %	106.26	23.4 %	79.69	20.8 %
Q3 2022	257.72	36.8 %	106.05	22.2 %	85.49	24.2 %
Q4 2022	317.43	40.4 %	145.57	35.6 %	112.78	25.5 %
2022	1,126.18	56.3 %	486.99	47.4 %	383.96	46.9 %
Q1 2023	312.37	8.7 %	143.56	11.2 %	114.72	8.2 %
Q2 2023	294.32	11.6 %	142.23	33.9 %	111.88	40.4 %
Q3 2023	303.99	18.0 %	123.14	16.1 %	92.96	8.7 %
Q4 2023	369.19	16.3 %	189.24	30.0 %	132.20	17.2 %
2023	1,279.86	13.6 %	598.17	22.8 %	451.77	17.7 %
Q1 2024	439.07	40.6 %	203.54	41.8 %	158.96	38.6 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	612.30	-	176.29	-	130.71	-
2018	639.16	4.4 %	190.13	7.9 %	146.90	12.4 %
2019	787.50	23.2 %	336.42	76.9 %	264.45	80.0 %
2020	497.59	(36.8 %)	99.05	(70.6 %)	51.43	(80.6 %)
2021	720.63	44.8 %	330.28	233.5 %	261.33	408.2 %
2022	1,126.18	56.3 %	486.99	47.4 %	383.96	46.9 %
2023	1,279.86	13.6 %	598.17	22.8 %	451.77	17.7 %

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	111.22	-	2.22	-	111.22	2.22
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	133.69	20.2 %	2.67	-	133.69	2.67
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	225.35	68.6 %	4.51	-	225.35	4.51
Q1 2020	68.56	-	1.37	-	68.56	1.37
Q2 2020	(83.91)	-	(1.68)	-	(83.91)	(1.68)
Q3 2020	(6.08)	-	(0.12)	-	(6.08)	(0.12)
Q4 2020	46.63	-	0.93	-	46.63	0.93
2020	25.20	(88.8 %)	0.50	-	25.20	0.50
Q1 2021	29.63	(56.8 %)	0.59	-	29.63	0.59
Q2 2021	48.94	158.3 %	0.98	-	48.94	0.98
Q3 2021	57.09	1039.4 %	1.14	-	57.09	1.14
Q4 2021	70.60	51.4 %	1.41	-	70.60	1.41
2021	206.25	718.4 %	4.12	-	206.25	4.12
Q1 2022	64.89	119.0 %	1.30	(24.36)	89.25	1.78
Q2 2022	62.79	28.3 %	1.26	-	62.79	1.26
Q3 2022	65.89	15.4 %	1.32	-	65.89	1.32
Q4 2022	81.13	14.9 %	1.62	-	81.13	1.62
2022	274.70	33.2 %	5.49	(24.36)	299.06	5.98
Q1 2023	90.82	40.0 %	1.82	-	90.82	1.82
Q2 2023	85.04	35.4 %	1.70	-	85.04	1.70
Q3 2023	62.93	(4.5 %)	1.26	-	62.93	1.26
Q4 2023	79.44	(2.1 %)	1.59	-	79.44	1.59
2023	318.24	15.8 %	6.36	-	318.24	6.36
Q1 2024	100.82	11.0 %	2.02	-	100.82	2.02

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	111.22	-	2.22	-	111.22	2.22
2018	133.69	20.2 %	2.67	-	133.69	2.67
2019	225.35	68.6 %	4.51	-	225.35	4.51
2020	25.20	(88.8 %)	0.50	-	25.20	0.50
2021	206.25	718.4 %	4.12	-	206.25	4.12
2022	274.70	33.2 %	5.49	(24.36)	299.06	5.98
2023	318.24	15.8 %	6.36	-	318.24	6.36

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	28.79 %	25.42 %	18.16 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	29.75 %	26.62 %	20.92 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	42.72 %	84.22 %	28.62 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	19.91 %	-	5.06 %
2020	19.91 %	84.03 %	5.06 %
Q1 2021	13.34 %	22.04 %	(2.96 %)
Q2 2021	37.01 %	52.64 %	20.21 %
Q3 2021	43.64 %	69.92 %	27.19 %
Q4 2021	45.83 %	80.01 %	28.62 %
2021	45.83 %	80.01 %	28.62 %
Q1 2022	47.62 %	79.04 %	30.93 %
Q2 2022	44.48 %	75.95 %	28.97 %
Q3 2022	43.36 %	75.39 %	27.88 %
Q4 2022	43.24 %	74.27 %	26.55 %
2022	43.24 %	74.27 %	26.55 %
Q1 2023	43.56 %	73.34 %	26.12 %
Q2 2023	45.47 %	75.58 %	27.32 %
Q3 2023	45.15 %	71.97 %	26.05 %
Q4 2023	46.74 %	72.65 %	24.86 %
2023	46.74 %	72.65 %	24.86 %
Q1 2024	46.79 %	66.83 %	23.34 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	28.79 %	25.42 %	18.16 %
2018	29.75 %	26.62 %	20.92 %
2019	42.72 %	84.22 %	28.62 %
2020	19.91 %	84.03 %	5.06 %
2021	45.83 %	80.01 %	28.62 %
2022	43.24 %	74.27 %	26.55 %
2023	46.74 %	72.65 %	24.86 %

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	48.04 %	-	37.78 %
Q2 2020	(212.69 %)	-	(254.83 %)
Q3 2020	11.47 %	-	(5.66 %)
Q4 2020	39.58 %	-	26.52 %
Q1 2021	33.73 %	85.54 %	19.94 %
Q2 2021	54.64 %	82.47 %	31.07 %
Q3 2021	46.05 %	84.73 %	30.30 %
Q4 2021	47.46 %	70.71 %	31.22 %
Q1 2022	44.92 %	79.99 %	31.05 %
Q2 2022	40.31 %	69.76 %	23.82 %
Q3 2022	41.15 %	80.12 %	25.57 %
Q4 2022	45.86 %	68.08 %	25.56 %
Q1 2023	45.96 %	76.12 %	29.08 %
Q2 2023	48.32 %	79.13 %	28.89 %
Q3 2023	40.51 %	64.85 %	20.70 %
Q4 2023	51.26 %	70.97 %	21.52 %
Q1 2024	46.36 %	56.46 %	22.96 %

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	50.00	-	-	11.38
Q2 2020	50.00	-	-	9.70
Q3 2020	50.00	-	-	9.58
Q4 2020	50.00	0.50	0.50	10.53
Q1 2021	50.00	(0.27)	(0.27)	11.12
Q2 2021	50.00	2.38	2.38	12.10
Q3 2021	50.00	3.65	3.65	13.24
Q4 2021	50.00	4.12	4.12	14.63
Q1 2022	50.00	4.83	5.32	15.92
Q2 2022	50.00	5.11	5.59	15.32
Q3 2022	50.00	5.28	5.77	16.62
Q4 2022	50.00	5.49	5.98	16.40
Q1 2023	50.00	6.01	6.01	18.13
Q2 2023	50.00	6.46	6.46	19.43
Q3 2023	50.00	6.40	6.40	20.69
Q4 2023	50.00	6.36	6.36	22.26
Q1 2024	50.00	6.56	6.56	24.28

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	50.00	2.22	2.22	12.94
2018	50.00	2.67	2.67	8.79
2019	50.00	4.51	4.51	10.49
2020	50.00	0.50	0.50	10.53
2021	50.00	4.12	4.12	14.63
2022	50.00	5.49	5.98	16.40
2023	50.00	6.36	6.36	22.26

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	24.53	24.53	6.92
Q1 2022	22.57	20.50	6.85
Q2 2022	19.21	17.54	6.40
Q3 2022	21.24	19.44	6.75
Q4 2022	19.48	17.89	6.53
Q1 2023	20.29	20.29	6.73
Q2 2023	27.56	27.56	9.16
Q3 2023	32.32	32.32	10.00
Q4 2023	37.86	37.86	10.83
Q1 2024	34.82	34.82	9.42

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	24.53	24.53	6.92
2022	19.48	17.89	6.53
2023	37.86	37.86	10.83

Business Segments (Million)

Compared With The

Period	Advertisement Sector	Printing	Reconciliation & elimination
Q1 2021	145.90	2.68	-
Q2 2021	154.48	3.05	-
Q3 2021	185.82	11.50	(8.93)
Q4 2021	220.75	7.99	(2.61)
Q1 2022	283.51	6.82	(2.92)
Q2 2022	259.73	0.98	-
Q3 2022	253.79	12.72	(8.79)
Q4 2022	309.18	12.52	(4.27)
Q1 2023	305.41	11.00	(4.04)
Q2 2023	287.02	10.33	(3.03)
Q3 2023	297.64	8.82	(2.47)
Q4 2023	363.20	7.90	(1.91)
Q1 2024	435.44	7.94	(4.31)

Period	Advertisement Sector	Printing	Reconciliation & elimination
2020	483.74	13.85	-
2021	706.94	25.22	(11.53)
2022	1,106.21	33.03	(13.06)
2023	1,253.26	38.05	(11.45)

Analysts Estimates (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change‬
Average	89.43	100.82	12.75 %

Estimates vs Actual (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change
GIB Capital	93.00	100.82	8.4 %
Al Rajhi Capital	91.00	100.82	10.8 %
AlJazira Capital	89.70	100.82	12.4 %
JP Morgan	84.00	100.82	20.0 %

Financial Ratios

	Current
Market Cap (M Riyal)	7,620.00
Enterprise Value (EV) (M)	8,919.29
Shares Outstanding ((M))	50.00
EPS ( Riyal) (TTM)	5.44
Book Value (BV) ( Riyal)	25.89
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	28.03
P/E (TTM)	28.03
Price/book	5.89
Return on Average Assets (%) (TTM)	7.2
Return on Average Equity (%) (TTM)	23.4

Arabian Contracting Services Co. (ALARABIA)

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Al Arabia Q1 2024 profit rises 11% to SAR 100.8M

View other reports

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

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Arabian Contracting Services Co. (ALARABIA)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

×

Al Arabia Q1 2024 profit rises 11% to SAR 100.8M

View other reports

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

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Arabian Contracting Services Co. (ALARABIA)

Comments {{getCommentCount()}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}}

Business Segments (Million)