Al-Baha profit grows to SAR 8.4M in 2024; Q4 at SAR 6.6M

Al-Baha profit grows to SAR 8.4M in 2024; Q4 at SAR 6.6M

26/01/2025 Argaam Exclusive

View other reports

Al-Baha Investment and Development Co. reported a net profit of SAR 8.4 million (excluding minority interest) in 2024, compared to SAR 3.5 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 16.06 18.10 12.7 %
Gross Income 11.67 13.60 16.5 %
Operating Income 10.79 8.59 (20.4 %)
Net Income 3.50 8.38 139.6 %
Average Shares 2,182.95 2,182.95 -
Earnings Per Share before unusual items 0.00 0.00 139.6 %
EPS (Halala) 0.16 0.38 139.6 %

This was backed by a 13% increase in revenue this year, due to higher operational rates in the company's commercial complexes during 2024.

 

The company also cited a 98% year-on-year (YoY) plunge in Zakat expenses due to the acquisition of minority shares in Al-Marakez Al-Raqia Ltd. in Q4 2024 and lower provisions. Meanwhile, financing costs decreased by 39%.

 

Q4 2024 net earnings reached SAR 6.6 million, compared to SAR 1.79 million in the year-earlier period.

 

On a sequential basis, the company turned profitable in Q4 2024, from SAR 0.39 million loss in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 4.36 4.62 5.9 %
Gross Income 3.29 3.46 5.1 %
Operating Income 5.46 2.57 (52.9 %)
Net Income 1.79 6.61 269.6 %
Average Shares 2,182.95 2,182.95 -
Earnings Per Share before unusual items 0.00 0.00 269.6 %
EPS (Halala) 0.08 0.30 269.6 %

Total shareholders’ equity, after minority interest, reached SAR 223.05 million by Dec. 31, 2024, compared to SAR 214.87 million a year earlier.

 


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2015 0.04 103.4 % 0.00 - 0.04 0.00
Q2 2015 0.01 100.6 % 0.00 - 0.01 0.00
Q3 2015 0.01 100.5 % 0.00 - 0.01 0.00
Q4 2015 0.02 101.9 % 0.00 - 0.02 0.00
Q1 2016 0.01 (76.3 %) 0.00 - 0.01 0.00
Q2 2016 0.01 (14.3 %) 0.00 - 0.01 0.00
Q3 2016 0.01 20.0 % 0.00 - 0.01 0.00
Q4 2016 (0.15) (994.1 %) (0.01) - (0.15) 0.00
Q1 2017 0.01 (33.3 %) 0.00 - 0.01 0.00
Q2 2017 (0.33) (5550.0 %) (0.02) (2.12) 1.79 0.00
Q3 2017 (0.26) (4416.7 %) (0.01) - (0.26) 0.00
Q4 2017 4.57 3105.3 % 0.22 2.12 2.45 0.00
Q1 2018 0.61 10000.0 % 0.03 - 0.61 0.00
Q2 2018 (12.19) (3,627.8 %) (0.56) (12.29) 0.10 0.00
Q3 2018 0.28 206.6 % 0.01 - 0.28 0.00
Q4 2018 (0.02) (100.4 %) 0.00 - (0.02) 0.00
Q1 2019 (0.69) (213.4 %) (0.03) - (0.69) 0.00
Q2 2019 0.09 100.7 % 0.00 - 0.09 0.00
Q3 2019 0.13 (54.3 %) 0.01 - 0.13 0.00
Q4 2019 (4.86) (26,877.8 %) (0.22) (3.65) (1.20) 0.00
Q1 2020 0.27 139.4 % 0.01 - 0.27 0.00
Q2 2020 0.31 238.5 % 0.01 - 0.31 0.00
Q3 2020 0.11 (16.7 %) 0.00 - 0.11 0.00
Q4 2020 (29.28) (502.9 %) (1.34) (22.58) (6.70) 0.00
Q1 2021 (0.95) (451.3 %) (0.04) - (0.95) 0.00
Q2 2021 (0.66) (315.3 %) (0.03) - (0.66) 0.00
Q3 2021 (0.82) (880.0 %) (0.04) - (0.82) 0.00
Q4 2021 (5.91) 79.8 % (0.27) - (5.91) 0.00
Q1 2022 (4.10) (330.4 %) (0.19) (4.00) (0.10) 0.00
Q2 2022 (0.20) 70.6 % (0.01) - (0.20) 0.00
Q3 2022 (0.60) 26.5 % (0.03) - (0.60) 0.00
Q4 2022 (3.08) 47.9 % (0.14) 1.44 (4.52) 0.00
Q1 2023 0.16 103.9 % 0.01 - 0.16 0.00
Q2 2023 0.19 196.9 % 0.01 - 0.19 0.00
Q3 2023 1.36 325.9 % 0.06 - 1.36 0.00
Q4 2023 1.79 158.0 % 0.08 - 1.79 0.00
Q1 2024 (0.32) (299.6 %) (0.01) - (0.32) 0.00
Q2 2024 2.47 1207.3 % 0.11 - 2.47 0.00
Q3 2024 (0.39) (128.6 %) (0.02) - (0.39) 0.00
Q4 2024 6.61 269.6 % 0.30 - 6.61 0.00
2024 8.38 139.6 % 0.38 - 8.38 0.00


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 0.41 - 0.15 - 0.04 103.4 %
Q2 2015 0.62 - 0.13 - 0.01 100.6 %
Q3 2015 1.63 - 0.10 - 0.01 100.6 %
Q4 2015 2.86 - 0.23 - 0.02 102.1 %
Q1 2016 1.68 308.5 % 0.13 (17.8 %) 0.01 (76.3 %)
Q2 2016 1.51 143.9 % 0.14 7.0 % 0.01 (14.3 %)
Q3 2016 2.88 77.1 % 0.18 81.4 % 0.01 20.0 %
Q4 2016 2.81 (2.0 %) 0.17 (26.0 %) (0.15) (894.7 %)
Q1 2017 2.21 31.4 % 0.15 17.6 % 0.01 (33.3 %)
Q2 2017 0.57 (62.1 %) 0.57 314.5 % (0.31) (5216.7 %)
Q3 2017 0.36 (87.6 %) 0.36 103.4 % (0.24) (4083.3 %)
Q4 2017 4.23 50.8 % 1.61 843.9 % 0.28 288.1 %
Q1 2018 3.01 36.2 % 1.39 845.6 % 0.75 12366.7 %
Q2 2018 2.87 401.9 % 1.56 173.4 % 0.86 380.1 %
Q3 2018 2.29 540.8 % 1.04 190.5 % 0.38 259.4 %
Q4 2018 1.50 (64.5 %) 0.80 (50.3 %) 0.24 (15.5 %)
Q1 2019 2.40 (20.3 %) 1.33 (4.5 %) 0.58 (22.3 %)
Q2 2019 2.45 (14.6 %) 1.40 (10.4 %) 0.58 (32.6 %)
Q3 2019 2.84 23.9 % 1.73 66.0 % 0.85 121.8 %
Q4 2019 2.74 82.4 % 1.22 52.6 % 0.21 (10.8 %)
Q1 2020 2.76 14.8 % 1.67 25.8 % 0.94 61.6 %
Q2 2020 2.89 17.9 % 1.86 32.8 % 1.12 93.1 %
Q3 2020 2.62 (7.9 %) 1.51 (12.3 %) 0.68 (19.1 %)
Q4 2020 2.91 6.2 % 1.27 3.5 % (3.49) (1731.8 %)
Q1 2021 2.54 (7.8 %) 1.32 (20.9 %) (0.55) (159.0 %)
Q2 2021 2.81 (3.0 %) 1.58 (15.2 %) (0.93) (183.2 %)
Q3 2021 2.59 (1.1 %) 1.27 (16.2 %) (0.11) (115.4 %)
Q4 2021 3.47 19.4 % 2.21 74.0 % (5.88) (68.3 %)
Q1 2022 2.55 0.5 % 1.08 (18.1 %) 0.40 172.4 %
Q2 2022 2.62 (6.6 %) 1.17 (26.1 %) 0.41 143.7 %
Q3 2022 2.80 8.3 % 1.30 2.3 % 0.20 291.4 %
Q4 2022 3.54 2.0 % 2.27 3.1 % (2.61) 55.5 %
Q1 2023 3.45 35.0 % 2.34 116.6 % 1.35 235.8 %
Q2 2023 3.62 38.3 % 2.55 118.2 % 1.63 301.2 %
Q3 2023 4.63 65.2 % 3.49 169.2 % 2.35 1069.9 %
Q4 2023 4.36 23.2 % 3.29 44.7 % 5.46 309.0 %
Q1 2024 4.45 29.1 % 3.32 41.7 % 1.79 32.6 %
Q2 2024 4.50 24.3 % 3.41 33.7 % 3.59 120.1 %
Q3 2024 4.52 (2.3 %) 3.42 (2.2 %) 0.64 (72.9 %)
Q4 2024 4.62 5.9 % 3.46 5.1 % 2.57 (52.9 %)
2024 18.10 12.7 % 13.60 16.5 % 8.59 (20.4 %)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 36.89 % (312.14 %) (717.23 %)
Q2 2015 27.26 % (62.37 %) (173.33 %)
Q3 2015 14.22 % (11.62 %) (31.37 %)
Q4 2015 11.03 % 1.25 % 1.21 %
Q1 2016 8.57 % 0.59 % 0.56 %
Q2 2016 7.69 % 0.51 % 0.48 %
Q3 2016 7.50 % 0.45 % 0.43 %
Q4 2016 6.87 % (1.46 %) (1.48 %)
Q1 2017 6.72 % (1.41 %) (1.42 %)
Q2 2017 12.58 % 0.32 % 19.45 %
Q3 2017 20.99 % 3.30 % 23.26 %
Q4 2017 36.50 % 11.73 % 54.10 %
Q1 2018 48.13 % 22.42 % 56.14 %
Q2 2018 47.04 % 26.27 % 27.71 %
Q3 2018 45.20 % 25.64 % 27.70 %
Q4 2018 49.55 % 32.34 % 9.98 %
Q1 2019 52.20 % 43.69 % (3.61 %)
Q2 2019 52.84 % 54.86 % (3.91 %)
Q3 2019 57.15 % 68.57 % (5.31 %)
Q4 2019 54.42 % 70.70 % (16.03 %)
Q1 2020 55.80 % 70.86 % (6.63 %)
Q2 2020 57.71 % 71.52 % (4.43 %)
Q3 2020 56.97 % 69.81 % (4.72 %)
Q4 2020 56.48 % 326.09 % (53.82 %)
Q1 2021 54.41 % 318.89 % (66.04 %)
Q2 2021 52.25 % 302.58 % (75.50 %)
Q3 2021 50.14 % 297.00 % (84.23 %)
Q4 2021 55.89 % (23.93 %) (73.15 %)
Q1 2022 53.73 % (14.10 %) (65.62 %)
Q2 2022 50.95 % (0.93 %) (62.54 %)
Q3 2022 50.25 % 2.45 % (59.47 %)
Q4 2022 50.54 % 30.20 % (47.04 %)
Q1 2023 57.07 % 32.38 % (41.55 %)
Q2 2023 63.09 % 36.10 % (35.59 %)
Q3 2023 69.93 % 43.48 % (18.45 %)
Q4 2023 72.68 % 89.95 % 21.77 %
Q1 2024 74.13 % 87.43 % 17.70 %
Q2 2024 75.28 % 94.22 % 29.54 %
Q3 2024 75.30 % 85.07 % 19.92 %
Q4 2024 75.16 % 67.91 % 46.28 %
2024 75.16 % 67.90 % 46.28 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Earnings Per Share before unusual items (Halala) Book Value (BV)
Q1 2015 1,846.22 (0.16) (0.16) 0.00
Q2 2015 1,846.22 (0.10) (0.10) 0.00
Q3 2015 1,846.22 (0.05) (0.05) 0.00
Q4 2015 1,846.22 0.00 0.00 0.00
Q1 2016 1,846.22 0.00 0.00 0.00
Q2 2016 1,846.22 0.00 0.00 0.00
Q3 2016 1,846.22 0.00 0.00 0.00
Q4 2016 1,846.22 (0.01) (0.01) 0.00
Q1 2017 2,095.46 (0.01) (0.01) 0.00
Q2 2017 2,095.46 (0.02) 0.08 0.07
Q3 2017 2,095.46 (0.03) 0.07 0.07
Q4 2017 2,095.46 0.19 0.19 0.07
Q1 2018 2,178.54 0.21 0.21 0.07
Q2 2018 2,178.54 (0.33) 0.13 0.06
Q3 2018 2,178.54 (0.31) 0.16 0.07
Q4 2018 2,178.54 (0.52) 0.04 0.07
Q1 2019 2,178.54 (0.58) (0.02) 0.06
Q2 2019 2,178.54 (0.02) (0.02) 0.06
Q3 2019 2,178.54 (0.02) (0.02) 0.06
Q4 2019 2,178.54 (0.24) (0.08) 0.06
Q1 2020 2,178.54 (0.20) (0.03) 0.06
Q2 2020 2,178.54 (0.19) (0.02) 0.06
Q3 2020 2,178.54 (0.19) (0.02) 0.06
Q4 2020 2,178.54 (1.31) (0.28) 0.05
Q1 2021 2,178.54 (1.37) (0.33) 0.05
Q2 2021 2,178.54 (1.41) (0.38) 0.05
Q3 2021 2,178.54 (1.46) (0.42) 0.05
Q4 2021 2,178.54 (0.38) (0.38) 0.05
Q1 2022 2,182.95 (0.53) (0.34) 0.10
Q2 2022 2,182.95 (0.50) (0.32) 0.10
Q3 2022 2,182.95 (0.49) (0.31) 0.10
Q4 2022 2,182.95 (0.37) (0.25) 0.10
Q1 2023 2,182.95 (0.17) (0.24) 0.10
Q2 2023 2,182.95 (0.15) (0.22) 0.10
Q3 2023 2,182.95 (0.06) (0.13) 0.10
Q4 2023 2,182.95 0.16 0.16 0.10
Q1 2024 2,182.95 0.14 0.14 0.10
Q2 2024 2,182.95 0.24 0.24 0.10
Q3 2024 2,182.95 0.16 0.16 0.10
Q4 2024 2,182.95 0.38 0.38 0.10

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 NEG NEG 123.56
Q2 2015 NEG NEG 123.41
Q3 2015 NEG NEG 123.19
Q4 2015 More than 100 More than 100 122.62
Q1 2016 More than 100 More than 100 122.34
Q2 2016 More than 100 More than 100 122.15
Q3 2016 More than 100 More than 100 121.97
Q4 2016 NEG NEG 121.75
Q1 2017 NEG NEG 121.57
Q2 2017 NEG More than 100 2.74
Q3 2017 NEG More than 100 4.13
Q4 2017 More than 100 More than 100 3.34
Q1 2018 99.49 99.49 2.97
Q2 2018 NEG More than 100 3.11
Q3 2018 NEG 94.00 2.28
Q4 2018 NEG More than 100 3.59
Q1 2019 NEG NEG 3.26
Q2 2019 NEG NEG 3.01
Q3 2019 NEG NEG 2.53
Q4 2019 NEG NEG 2.72
Q1 2020 NEG NEG 2.12
Q2 2020 NEG NEG 2.23
Q3 2020 NEG NEG 5.48
Q4 2020 NEG NEG 7.81
Q1 2021 NEG NEG 8.16
Q2 2021 NEG NEG 8.17
Q3 2021 NEG NEG 8.16
Q4 2021 NEG NEG 7.64
Q1 2022 NEG NEG 2.66
Q2 2022 NEG NEG 2.22
Q3 2022 NEG NEG 2.07
Q4 2022 NEG NEG 1.63
Q1 2023 NEG NEG 1.85
Q2 2023 NEG NEG 2.80
Q3 2023 NEG NEG 2.11
Q4 2023 More than 100 More than 100 1.96
Q1 2024 More than 100 More than 100 1.96
Q2 2024 67.94 67.94 1.66
Q3 2024 More than 100 More than 100 3.05
Q4 2024 More than 100 More than 100 4.60

Business Segments (Million)

Compared With The
Period Rents The main center
Q1 2019 2.40 -
Q2 2019 2.45 -
Q3 2019 2.84 -
Q4 2019 2.74 -
Q1 2020 2.76 -
Q2 2020 2.89 -
Q3 2020 2.62 -
Q4 2020 2.91 -
Q1 2021 2.54 -
Q2 2021 2.80 -
Q3 2021 2.59 -
Q4 2021 3.47 -
Q1 2022 2.55 -
Q2 2022 2.33 0.29
Q3 2022 2.80 -
Q1 2023 3.45 -
Q2 2023 3.62 -
Q3 2023 4.73 -
Q4 2023 4.26 -
Q1 2024 4.45 -
Q2 2024 4.50 -
Q3 2024 4.52 -
Q4 2024 4.62 -


Financial Ratios
Current
Market Cap (M Riyal) 916.84
Enterprise Value (EV) (M) 916.44
Shares Outstanding ((M)) 2,182.95
EPS (Halala) (TTM) 0.38
Book Value (BV) ( Riyal) 0.10
Par Value ( Halala) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 4.11
Return on Average Assets (%) (TTM) 3.2
Return on Average Equity (%) (TTM) 3.8
more

Share Price

Al-Baha Investment and Development Co.
0.42
0.00 0.00 %

Al-Baha Investment and Development Co. (ALBAHA)

More

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.