Jarir profit rises slightly to SAR 974M in 2024; Q4 at SAR 275.4M

Jarir profit rises slightly to SAR 974M in 2024; Q4 at SAR 275.4M

30/01/2025 Argaam Exclusive

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Jarir Marketing Co. (Jarir) reported a net profit of SAR 974 million in 2024, a slight increase from SAR 973 million a year earlier.


Financials (M)

Item 2023 2024 Change‬
Revenues 10,594.92 10,830.90 2.2 %
Gross Income 1,275.93 1,324.50 3.8 %
Operating Income 1,045.10 1,052.80 0.7 %
Net Income 973.04 974.00 0.1 %
Average Shares 1,200.00 1,200.00 -
Earnings Per Share before unusual items (Riyals) 0.81 0.81 0.1 %
EPS (Riyals) 0.81 0.81 0.1 %

Gross sales increased 2.2% year-on-year (YoY), mainly due to higher sales in the smartphone segment, as well as the computers and tablets division.

 

Also, gross profit rose 3.8% YoY on improved profit margins of certain segments, led by smartphones as a result of discounts received from vendors.

 

However, the company reported higher selling and marketing expenses, administrative and general expenses, and non-operating costs.

 

Q4 2024 net earnings reached SAR 275.4 million, up 1% from SAR 273.2 million a year earlier.

 

On a sequential basis, net profit declined 10.7% from SAR 308.2 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 2,802.50 2,864.43 2.2 %
Gross Income 328.21 352.76 7.5 %
Operating Income 289.73 294.35 1.6 %
Net Income 273.19 275.36 0.8 %
Average Shares 1,200.00 1,200.00 -
Earnings Per Share before unusual items (Riyals) 0.23 0.23 0.8 %
EPS (Riyals) 0.23 0.23 0.8 %

Total shareholders’ equity, no minority interest, fell to SAR 1.74 billion by Dec. 31, 2024, compared to SAR 1.77 billion a year earlier.

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 1,909.51 36.5 % 283.51 20.6 % 243.11 21.6 %
Q2 2015 1,405.76 9.0 % 191.37 10.2 % 151.70 13.8 %
Q3 2015 1,536.06 7.7 % 253.41 6.8 % 215.98 7.4 %
Q4 2015 1,524.05 (3.8 %) 243.74 1.4 % 197.91 2.8 %
Q1 2016 1,417.43 (25.8 %) 214.77 (24.2 %) 166.73 (31.4 %)
Q2 2016 1,390.74 (1.1 %) 162.76 (15.0 %) 116.18 (23.4 %)
Q3 2016 1,520.93 (1.0 %) 252.93 (0.2 %) 215.03 (0.4 %)
Q4 2016 1,793.46 17.7 % 244.80 0.4 % 210.11 6.2 %
Q1 2017 1,704.95 20.3 % 247.38 15.2 % 212.94 27.7 %
Q2 2017 1,584.80 14.0 % 192.72 18.4 % 133.22 14.7 %
Q3 2017 1,651.79 8.6 % 290.72 14.9 % 242.42 12.7 %
Q4 2017 2,000.39 11.5 % 306.42 25.2 % 246.19 17.2 %
Q1 2018 1,599.42 (6.2 %) 242.67 (1.9 %) 210.02 (1.4 %)
Q2 2018 1,693.32 6.8 % 212.53 10.3 % 156.44 17.4 %
Q3 2018 1,932.08 17.0 % 338.56 16.5 % 285.09 17.6 %
Q4 2018 2,136.90 6.8 % 320.07 4.5 % 261.97 6.4 %
Q1 2019 1,886.64 18.0 % 302.14 24.5 % 248.14 18.2 %
Q2 2019 1,892.58 11.8 % 233.90 10.1 % 178.46 14.1 %
Q3 2019 2,251.23 16.5 % 389.14 14.9 % 314.68 10.4 %
Q4 2019 2,394.06 12.0 % 348.00 8.7 % 280.44 7.0 %
Q1 2020 2,340.22 24.0 % 327.46 8.4 % 264.51 6.6 %
Q2 2020 2,373.92 25.4 % 303.74 29.9 % 218.90 22.7 %
Q3 2020 2,037.85 (9.5 %) 334.46 (14.1 %) 265.06 (15.8 %)
Q4 2020 2,553.83 6.7 % 362.96 4.3 % 304.52 8.6 %
Q1 2021 2,530.39 8.1 % 337.57 3.1 % 276.92 4.7 %
Q2 2021 2,015.28 (15.1 %) 262.03 (13.7 %) 195.98 (10.5 %)
Q3 2021 2,224.49 9.2 % 344.09 2.9 % 275.95 4.1 %
Q4 2021 2,318.11 (9.2 %) 285.64 (21.3 %) 212.39 (30.3 %)
Q1 2022 2,286.89 (9.6 %) 325.05 (3.7 %) 258.12 (6.8 %)
Q2 2022 2,010.48 (0.2 %) 248.59 (5.1 %) 169.81 (13.4 %)
Q3 2022 2,517.03 13.2 % 372.26 8.2 % 283.42 2.7 %
Q4 2022 2,577.29 11.2 % 341.48 19.5 % 250.48 17.9 %
Q1 2023 2,717.65 18.8 % 323.74 (0.4 %) 249.42 (3.4 %)
Q2 2023 2,435.73 21.2 % 239.57 (3.6 %) 162.68 (4.2 %)
Q3 2023 2,639.04 4.8 % 384.41 3.3 % 301.19 6.3 %
Q4 2023 2,802.50 8.7 % 328.21 (3.9 %) 289.73 15.7 %
Q1 2024 2,649.85 (2.5 %) 294.65 (9.0 %) 221.12 (11.3 %)
Q2 2024 2,650.00 8.8 % 262.50 9.6 % 189.00 16.2 %
Q3 2024 2,666.67 1.0 % 414.62 7.9 % 313.54 4.1 %
Q4 2024 2,864.43 2.2 % 352.76 7.5 % 294.35 1.6 %
2024 10,830.90 2.2 % 1,324.50 3.8 % 1,052.80 0.7 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2015 247.02 22.7 % 0.21 - 247.02 0.21
Q2 2015 154.86 14.5 % 0.13 - 154.86 0.13
Q3 2015 218.50 7.6 % 0.18 - 218.50 0.18
Q4 2015 208.09 1.1 % 0.17 - 208.09 0.17
Q1 2016 174.96 (29.2 %) 0.15 - 174.96 0.15
Q2 2016 126.48 (18.3 %) 0.11 - 126.48 0.11
Q3 2016 217.92 (0.3 %) 0.18 (4.00) 221.92 0.18
Q4 2016 215.32 3.5 % 0.18 - 215.32 0.18
Q1 2017 221.44 26.6 % 0.18 - 221.44 0.18
Q2 2017 147.76 16.8 % 0.12 7.40 140.36 0.12
Q3 2017 246.53 13.1 % 0.21 - 246.53 0.21
Q4 2017 251.93 17.0 % 0.21 - 251.93 0.21
Q1 2018 219.10 (1.1 %) 0.18 - 219.10 0.18
Q2 2018 162.59 10.0 % 0.14 - 162.59 0.14
Q3 2018 288.00 16.8 % 0.24 - 288.00 0.24
Q4 2018 290.31 15.2 % 0.24 - 290.31 0.24
Q1 2019 233.69 6.7 % 0.19 - 233.69 0.19
Q2 2019 169.13 4.0 % 0.14 - 169.13 0.14
Q3 2019 304.97 5.9 % 0.25 - 304.97 0.25
Q4 2019 276.94 (4.6 %) 0.23 - 276.94 0.23
Q1 2020 251.69 7.7 % 0.21 - 251.69 0.21
Q2 2020 208.39 23.2 % 0.17 - 208.39 0.17
Q3 2020 255.24 (16.3 %) 0.21 - 255.24 0.21
Q4 2020 287.67 3.9 % 0.24 - 287.67 0.24
Q1 2021 267.64 6.3 % 0.22 - 267.64 0.22
Q2 2021 189.24 (9.2 %) 0.16 - 189.24 0.16
Q3 2021 272.50 6.8 % 0.23 11.10 261.40 0.22
Q4 2021 262.48 (8.8 %) 0.22 38.50 223.98 0.19
Q1 2022 251.31 (6.1 %) 0.21 - 251.31 0.21
Q2 2022 177.16 (6.4 %) 0.15 10.20 166.96 0.14
Q3 2022 273.72 0.4 % 0.23 - 273.72 0.23
Q4 2022 267.57 1.9 % 0.22 17.00 250.57 0.21
Q1 2023 247.75 (1.4 %) 0.21 - 247.75 0.21
Q2 2023 155.78 (12.1 %) 0.13 - 155.78 0.13
Q3 2023 296.33 8.3 % 0.25 - 296.33 0.25
Q4 2023 273.19 2.1 % 0.23 - 273.19 0.23
Q1 2024 219.32 (11.5 %) 0.18 - 219.32 0.18
Q2 2024 171.10 9.8 % 0.14 - 171.10 0.14
Q3 2024 308.23 4.0 % 0.26 - 308.23 0.26
Q4 2024 275.36 0.8 % 0.23 - 275.36 0.23
2024 974.00 0.1 % 0.81 - 974.00 0.81

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 15.06 % 12.79 % 12.74 %
Q2 2015 15.06 % 12.84 % 12.82 %
Q3 2015 15.05 % 12.90 % 12.84 %
Q4 2015 15.25 % 13.19 % 12.99 %
Q1 2016 15.35 % 13.10 % 12.86 %
Q2 2016 14.91 % 12.59 % 12.41 %
Q3 2016 14.94 % 12.65 % 12.50 %
Q4 2016 14.30 % 12.26 % 12.07 %
Q1 2017 14.16 % 12.40 % 12.25 %
Q2 2017 14.20 % 12.33 % 12.10 %
Q3 2017 14.49 % 12.50 % 12.23 %
Q4 2017 14.94 % 12.73 % 12.39 %
Q1 2018 15.10 % 12.90 % 12.55 %
Q2 2018 15.15 % 13.07 % 12.67 %
Q3 2018 15.23 % 13.18 % 12.76 %
Q4 2018 15.13 % 13.18 % 13.04 %
Q1 2019 15.34 % 13.45 % 12.74 %
Q2 2019 15.22 % 13.68 % 12.50 %
Q3 2019 15.25 % 13.76 % 12.22 %
Q4 2019 15.11 % 13.85 % 11.69 %
Q1 2020 14.63 % 13.37 % 11.29 %
Q2 2020 14.62 % 13.11 % 11.13 %
Q3 2020 14.36 % 12.93 % 10.85 %
Q4 2020 14.28 % 13.00 % 10.78 %
Q1 2021 14.10 % 12.87 % 10.73 %
Q2 2021 14.19 % 13.18 % 10.94 %
Q3 2021 14.01 % 13.00 % 10.79 %
Q4 2021 13.53 % 12.28 % 10.37 %
Q1 2022 13.76 % 12.44 % 10.47 %
Q2 2022 13.61 % 12.12 % 10.22 %
Q3 2022 13.49 % 11.88 % 10.03 %
Q4 2022 13.71 % 12.02 % 10.04 %
Q1 2023 13.09 % 11.43 % 9.56 %
Q2 2023 12.46 % 10.97 % 9.05 %
Q3 2023 12.43 % 11.05 % 9.17 %
Q4 2023 12.04 % 11.19 % 9.18 %
Q1 2024 11.84 % 11.00 % 8.97 %
Q2 2024 11.82 % 10.97 % 8.94 %
Q3 2024 12.07 % 11.05 % 9.02 %
Q4 2024 12.23 % - 8.99 %
2024 12.23 % - 8.99 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2015 1,200.00 0.66 0.66 1.20
Q2 2015 1,200.00 0.68 0.68 1.16
Q3 2015 1,200.00 0.69 0.69 1.23
Q4 2015 1,200.00 0.69 0.69 1.25
Q1 2016 1,200.00 0.63 0.63 1.23
Q2 2016 1,200.00 0.61 0.61 1.23
Q3 2016 1,200.00 0.61 0.61 1.29
Q4 2016 1,200.00 0.61 0.62 1.25
Q1 2017 1,200.00 0.65 0.65 1.27
Q2 2017 1,200.00 0.67 0.67 1.23
Q3 2017 1,200.00 0.69 0.69 1.33
Q4 2017 1,200.00 0.72 0.72 1.36
Q1 2018 1,200.00 0.72 0.71 1.35
Q2 2018 1,200.00 0.73 0.73 1.30
Q3 2018 1,200.00 0.77 0.77 1.41
Q4 2018 1,200.00 0.80 0.80 1.42
Q1 2019 1,200.00 0.81 0.81 1.32
Q2 2019 1,200.00 0.82 0.82 1.27
Q3 2019 1,200.00 0.83 0.83 1.39
Q4 2019 1,200.00 0.82 0.82 1.37
Q1 2020 1,200.00 0.84 0.84 1.36
Q2 2020 1,200.00 0.87 0.87 1.36
Q3 2020 1,200.00 0.83 0.83 1.41
Q4 2020 1,200.00 0.84 0.84 1.44
Q1 2021 1,200.00 0.85 0.85 1.43
Q2 2021 1,200.00 0.83 0.83 1.37
Q3 2021 1,200.00 0.85 0.84 1.46
Q4 2021 1,200.00 0.83 0.79 1.47
Q1 2022 1,200.00 0.81 0.77 1.48
Q2 2022 1,200.00 0.80 0.75 1.42
Q3 2022 1,200.00 0.80 0.76 1.50
Q4 2022 1,200.00 0.81 0.79 1.50
Q1 2023 1,200.00 0.81 0.78 1.48
Q2 2023 1,200.00 0.79 0.77 1.40
Q3 2023 1,200.00 0.81 0.79 1.50
Q4 2023 1,200.00 0.81 0.81 1.48
Q1 2024 1,200.00 0.79 0.79 1.42
Q2 2024 1,200.00 0.80 0.80 1.38
Q3 2024 1,200.00 0.81 0.81 1.48
Q4 2024 1,200.00 0.81 0.81 1.45

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 25.01 25.01 13.73
Q2 2015 24.53 24.53 14.28
Q3 2015 19.60 19.60 10.94
Q4 2015 17.37 17.37 9.57
Q1 2016 13.47 13.47 6.90
Q2 2016 14.55 14.55 7.19
Q3 2016 11.47 11.41 5.38
Q4 2016 14.14 14.07 6.91
Q1 2017 15.56 15.48 7.95
Q2 2017 16.44 16.51 8.93
Q3 2017 16.68 16.83 8.70
Q4 2017 15.22 15.35 8.12
Q1 2018 18.40 18.56 9.86
Q2 2018 18.18 18.18 10.24
Q3 2018 17.87 17.87 9.76
Q4 2018 19.00 19.00 10.73
Q1 2019 19.48 19.48 11.98
Q2 2019 20.45 20.45 13.11
Q3 2019 19.00 19.00 11.36
Q4 2019 20.18 20.18 12.08
Q1 2020 15.29 15.29 9.39
Q2 2020 16.81 16.81 10.71
Q3 2020 22.66 22.66 13.32
Q4 2020 20.75 20.75 12.06
Q1 2021 21.43 21.43 12.77
Q2 2021 25.35 25.35 15.38
Q3 2021 24.73 25.00 14.35
Q4 2021 23.81 25.06 13.35
Q1 2022 24.23 25.53 13.31
Q2 2022 20.25 21.59 11.45
Q3 2022 20.77 21.88 11.12
Q4 2022 18.56 19.10 9.99
Q1 2023 20.24 20.83 11.02
Q2 2023 21.01 21.39 11.78
Q3 2023 17.99 18.31 9.67
Q4 2023 19.21 19.21 10.55
Q1 2024 18.42 18.42 10.18
Q2 2024 15.78 15.78 9.17
Q3 2024 16.22 16.22 8.86
Q4 2024 15.60 15.60 8.71

Business Segments (Million)

Compared With The
Period Retail sector Wholesale sector E-Commerce Other sectors
Q1 2015 1,783.00 127.00 - -
Q2 2015 1,345.00 60.00 - -
Q3 2015 1,367.00 169.00 - -
Q4 2015 1,397.00 127.00 - -
Q1 2016 1,293.00 85.00 - 39.00
Q2 2016 1,303.00 50.00 - 38.00
Q3 2016 1,326.00 150.00 - 45.00
Q4 2016 1,673.00 71.00 - 50.00
Q1 2017 1,530.00 133.00 - 42.00
Q2 2017 1,497.00 43.00 - 45.00
Q3 2017 1,446.00 154.00 - 52.00
Q4 2017 1,772.00 121.00 - 107.00
Q1 2018 1,487.00 61.00 - 51.00
Q2 2018 1,596.00 35.00 - 63.00
Q3 2018 1,667.00 158.00 - 107.00
Q4 2018 1,873.00 118.00 - 146.00
Q1 2019 1,723.00 66.00 - 98.00
Q3 2019 1,914.00 170.00 135.00 32.00
Q4 2019 2,149.00 93.00 120.20 32.50
Q1 2020 2,071.00 77.00 148.00 44.00
Q2 2020 1,780.00 44.00 520.00 30.00
Q3 2020 1,804.00 66.00 145.00 23.00
Q4 2020 2,089.00 38.00 404.00 23.00
Q1 2021 2,276.00 40.00 193.00 21.00
Q2 2021 1,811.00 28.00 150.00 27.00
Q3 2021 1,868.00 78.00 255.00 23.00
Q4 2021 2,038.00 46.00 192.00 42.00
Q1 2022 2,012.00 69.00 181.00 25.00
Q2 2022 1,778.00 45.00 165.00 22.00
Q3 2022 2,003.00 115.00 371.00 28.00
Q4 2022 1,988.00 68.00 474.00 47.00
Q1 2023 1,950.00 64.00 665.00 39.00
Q2 2023 1,944.00 41.00 422.00 28.00
Q3 2023 1,988.00 126.00 485.00 40.00
Q4 2023 2,273.00 59.00 434.00 37.00
Q1 2024 2,105.00 53.00 470.00 22.00
Q2 2024 1,906.00 34.00 691.00 19.00
Q3 2024 1,859.00 117.00 658.00 32.00

Analysts Estimates (Million)

Item Q4 2024 (e) Q4 2024 (a) Change‬
Average 257.11 275.36 7.10 %

Estimates vs Actual (Million)

Item Q4 2024 (e) Q4 2024 (a) Change
OSOOL AND BAKHEET 276.34 275.36 (0.4) %
AlJazira Capital 271.90 275.36 1.3 %
SNB Capital 269.00 275.36 2.3 %
Sico 282.00 275.36 (2.4) %
GIB Capital 268.00 275.36 2.7 %
Al Rajhi Capital 250.00 275.36 9.2 %
Goldman Sachs 240.00 275.36 12.8 %
Riyad Capital 233.00 275.36 15.4 %
Bank of America 223.77 275.36 18.7 %


Financial Ratios
Current
Market Cap (M Riyal) 15,456.00
Enterprise Value (EV) (M) 15,145.26
Shares Outstanding ((M)) 1,200.00
EPS ( Riyal) (TTM) 0.81
Book Value (BV) ( Riyal) 1.45
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 15.87
P/E (TTM) 15.87
Price/book 8.86
Return on Average Assets (%) (TTM) 23.7
Return on Average Equity (%) (TTM) 55.4
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Share Price

Jarir Marketing Co.
12.88
0.06 0.47 %

Jarir Marketing Co. (JARIR)

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