Al Akaria profit falls to SAR 67.6M in 2023; Q4 at SAR 156.8M

03/03/2024 Argaam Exclusive

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Saudi Real Estate Co. (Al Akaria) posted a net profit of SAR 67.6 million in 2023, compared to SAR 110.5 million in 2022.

Financials (M)

Item	2022	2023	Change‬
Revenues	2,051.28	1,814.23	(11.6 %)
Gross Income	456.11	561.13	23.0 %
Operating Income	259.74	337.22	29.8 %
Net Income	110.54	67.63	(38.8 %)
Average Shares	375.00	375.00	-
EPS (Riyals)	0.29	0.18	(38.8 %)

The profit decline was attributed to a SAR 531 million year-on-year (YoY) fall in revenues from sales of residential units as the year ago comprised sales of the Al-Dahia project. Also in 2023, land sales slumped SAR 58 million YoY, coupled with lower sales of the Al Akaria Park project and a SAR 31 million drop in revenues from construction projects.

The company also cited an increase in financing charges by SAR 96 million due to the significant rise in interest rates.

In addition, one of the company's subsidiaries widened its losses in 2023 after recording SAR 46 million in one-off losses stemming from one of its projects.

Moreover, general and administrative expenses rose by SAR 35 million last year given the expansion in the subsidiaries’ activities. Zakat and tax expenses also climbed by SAR 11 million in 2023, mainly due to the increase in net profit of one of the subsidiaries.

This was offset by a YoY leap of SAR 105 million in gross profit in 2023.

The fourth-quarter net profit leapt 90% to SAR 156.8 million, from SAR 82.59 million in the year-earlier period.

Sequentially, the company tuned profitable from a net loss of SAR 15.62 million in Q3 2023.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	796.46	676.66	(15.0 %)
Gross Income	169.50	292.29	72.4 %
Operating Income	115.98	225.08	94.1 %
Net Income	82.59	156.90	90.0 %
Average Shares	375.00	375.00	-
EPS (Riyals)	0.22	0.42	90.0 %

Item	Q3 2023	Q4 2023	Change‬
Revenues	389.12	676.66	73.9 %
Gross Income	103.91	292.29	181.3 %
Operating Income	56.74	225.08	296.7 %
Net Income	(15.62)	156.90	1104.6 %
Average Shares	375.00	375.00	-
EPS (Riyals)	(0.04)	0.42	1104.6 %

Shareholders’ equity, excluding minority interest, stood at SAR 4.74 billion as of Dec. 31, 2023, compared to SAR 4.60 billion a year earlier.

Accumulated losses reached SAR 67 million at the end of the current period, representing 1.8% of the company's capital.

View More Financial Results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	63.76	0.9 %	43.68	(4.4 %)	37.26	(11.1 %)
Q2 2014	64.88	3.4 %	45.30	9.2 %	36.65	1.9 %
Q3 2014	68.08	1.5 %	46.94	0.3 %	41.79	(3.4 %)
Q4 2014	144.51	119.7 %	117.48	147.6 %	112.93	168.2 %
2014	341.24	31.8 %	253.40	39.7 %	228.64	40.0 %
Q1 2015	67.20	5.4 %	46.39	6.2 %	39.52	6.1 %
Q2 2015	68.49	5.6 %	46.06	1.7 %	39.79	8.6 %
Q3 2015	70.90	4.1 %	50.09	6.7 %	44.40	6.3 %
Q4 2015	72.30	(50.0 %)	52.38	(55.4 %)	42.02	(62.8 %)
2015	278.89	(18.3 %)	194.92	(23.1 %)	165.73	(27.5 %)
Q1 2016	72.63	8.1 %	50.41	8.7 %	41.41	4.8 %
Q2 2016	74.65	9.0 %	50.42	9.5 %	41.70	4.8 %
Q3 2016	77.67	9.5 %	48.99	(2.2 %)	30.33	(31.7 %)
Q4 2016	89.52	23.8 %	66.52	27.0 %	49.11	16.9 %
2016	314.47	12.8 %	216.40	11.0 %	162.62	(1.9 %)
Q1 2017	78.60	8.2 %	52.38	3.9 %	40.43	(2.4 %)
Q2 2017	78.65	5.4 %	53.06	5.2 %	35.45	(15.0 %)
Q3 2017	80.13	3.2 %	52.47	7.1 %	39.11	28.9 %
Q4 2017	77.63	(13.3 %)	52.01	(21.8 %)	29.01	(40.9 %)
2017	315.01	0.2 %	209.91	(3.0 %)	143.99	(11.5 %)
Q1 2018	80.29	2.2 %	54.12	3.3 %	32.98	(18.4 %)
Q2 2018	83.12	5.7 %	58.50	10.3 %	20.40	(42.5 %)
Q3 2018	69.02	(13.9 %)	36.03	(31.3 %)	4.83	(87.7 %)
Q4 2018	64.14	(17.4 %)	36.56	(29.7 %)	(19.17)	(166.1 %)
2018	296.57	(5.9 %)	185.20	(11.8 %)	39.04	(72.9 %)
Q1 2019	72.41	(9.8 %)	45.36	(16.2 %)	1.44	(95.6 %)
Q2 2019	71.80	(13.6 %)	37.82	(35.3 %)	7.26	(64.4 %)
Q3 2019	87.78	27.2 %	43.54	20.9 %	(1.93)	(139.9 %)
Q4 2019	106.03	65.3 %	44.92	22.8 %	(91.42)	(376.9 %)
2019	338.02	14.0 %	171.63	(7.3 %)	(84.65)	(316.9 %)
Q1 2020	98.12	35.5 %	46.46	2.4 %	5.28	266.9 %
Q2 2020	95.80	33.4 %	38.72	2.4 %	(5.59)	(177.0 %)
Q3 2020	132.48	50.9 %	44.16	1.4 %	(7.91)	(310.4 %)
Q4 2020	227.07	114.2 %	56.12	24.9 %	(68.86)	24.7 %
2020	553.47	63.7 %	185.45	8.1 %	(77.08)	8.9 %
Q1 2021	182.59	86.1 %	49.07	5.6 %	(2.87)	(154.4 %)
Q2 2021	162.92	70.1 %	62.13	60.5 %	13.91	348.7 %
Q3 2021	141.29	6.7 %	45.37	2.7 %	(1.72)	78.3 %
Q4 2021	542.04	138.7 %	190.92	240.2 %	101.00	246.7 %
2021	1,028.84	85.9 %	347.50	87.4 %	110.32	243.1 %
Q1 2022	282.14	54.5 %	67.36	37.3 %	3.04	205.8 %
Q2 2022	587.80	260.8 %	133.53	114.9 %	87.13	526.4 %
Q3 2022	384.88	172.4 %	85.72	88.9 %	53.59	3219.3 %
Q4 2022	796.46	46.9 %	169.50	(11.2 %)	115.98	14.8 %
2022	2,051.28	99.4 %	456.11	31.3 %	259.74	135.4 %
Q1 2023	392.97	39.3 %	128.27	90.4 %	78.49	2483.6 %
Q2 2023	355.47	(39.5 %)	36.67	(72.5 %)	(23.10)	(126.5 %)
Q3 2023	389.12	1.1 %	103.91	21.2 %	56.74	5.9 %
Q4 2023	676.66	(15.0 %)	292.29	72.4 %	225.08	94.1 %
2023	1,814.23	(11.6 %)	561.13	23.0 %	337.22	29.8 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	341.24	31.8 %	253.40	39.7 %	228.64	40.0 %
2015	278.89	(18.3 %)	194.92	(23.1 %)	165.73	(27.5 %)
2016	314.47	12.8 %	216.40	11.0 %	162.62	(1.9 %)
2017	315.01	0.2 %	209.91	(3.0 %)	143.99	(11.5 %)
2018	296.57	(5.9 %)	185.20	(11.8 %)	39.04	(72.9 %)
2019	338.02	14.0 %	171.63	(7.3 %)	(84.65)	(316.9 %)
2020	553.47	63.7 %	185.45	8.1 %	(77.08)	8.9 %
2021	1,028.84	85.9 %	347.50	87.4 %	110.32	243.1 %
2022	2,051.28	99.4 %	456.11	31.3 %	259.74	135.4 %
2023	1,814.23	(11.6 %)	561.13	23.0 %	337.22	29.8 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	37.47	(11.1 %)	0.14	-	37.47	0.14
Q2 2014	48.03	149.3 %	0.17	-	48.03	0.17
Q3 2014	61.27	69.2 %	0.22	-	61.27	0.22
Q4 2014	132.20	126.4 %	0.48	-	132.20	0.48
2014	276.25	77.1 %	1.00	-	276.25	1.00
Q1 2015	43.12	15.1 %	0.16	-	43.12	0.16
Q2 2015	36.72	(23.5 %)	0.13	-	36.72	0.13
Q3 2015	38.37	(37.4 %)	0.14	-	38.37	0.14
Q4 2015	29.42	(77.7 %)	0.11	-	29.42	0.11
2015	147.63	(46.6 %)	0.53	-	147.63	0.53
Q1 2016	25.59	(40.7 %)	0.09	-	25.59	0.09
Q2 2016	42.75	16.4 %	0.15	(3.15)	45.90	0.17
Q3 2016	36.19	(5.7 %)	0.13	-	36.19	0.13
Q4 2016	(21.76)	(174.0 %)	(0.08)	9.40	(31.16)	(0.11)
2016	73.68	(50.1 %)	0.27	6.25	67.43	0.24
Q1 2017	47.76	86.6 %	0.17	-	47.76	0.17
Q2 2017	20.71	(51.6 %)	0.07	-	20.71	0.07
Q3 2017	21.36	(41.0 %)	0.08	-	21.36	0.08
Q4 2017	39.91	283.4 %	0.14	(15.50)	55.41	0.20
2017	132.48	79.8 %	0.48	(15.50)	147.98	0.54
Q1 2018	44.64	(6.5 %)	0.16	9.53	35.10	0.13
Q2 2018	30.27	46.1 %	0.11	3.04	27.23	0.10
Q3 2018	12.67	(40.7 %)	0.05	-	12.67	0.05
Q4 2018	(270.64)	(778.2 %)	(0.98)	(215.93)	(54.71)	(0.20)
2018	(183.07)	(238.2 %)	(0.66)	(203.36)	20.29	0.07
Q1 2019	18.49	(58.6 %)	0.07	-	18.49	0.07
Q2 2019	21.51	(28.9 %)	0.08	-	21.51	0.08
Q3 2019	8.98	(29.2 %)	0.03	-	8.98	0.03
Q4 2019	(235.33)	13.0 %	(0.85)	(97.51)	(137.82)	(0.50)
2019	(186.35)	(1.8 %)	(0.67)	(97.51)	(88.84)	(0.32)
Q1 2020	(2.91)	(115.7 %)	(0.01)	(1.08)	(1.83)	(0.01)
Q2 2020	(4.65)	(121.6 %)	(0.02)	(3.21)	(1.45)	(0.01)
Q3 2020	(8.01)	(189.3 %)	(0.03)	(6.06)	(1.95)	(0.01)
Q4 2020	(125.17)	46.8 %	(0.45)	(82.77)	(42.40)	(0.15)
2020	(140.74)	24.5 %	(0.51)	(93.11)	(47.63)	(0.17)
Q1 2021	(4.55)	(56.6 %)	(0.02)	3.62	(8.17)	(0.03)
Q2 2021	(9.17)	(97.1 %)	(0.03)	-	(9.17)	(0.03)
Q3 2021	(23.93)	(198.7 %)	(0.09)	-	(23.93)	(0.09)
Q4 2021	92.56	173.9 %	0.33	50.00	42.56	0.15
2021	54.91	139.0 %	0.20	53.62	1.29	0.00
Q1 2022	(29.45)	(547.3 %)	(0.11)	-	(29.45)	(0.11)
Q2 2022	45.31	594.1 %	0.12	-	45.31	0.12
Q3 2022	12.09	150.5 %	0.03	-	12.09	0.03
Q4 2022	82.59	(10.8 %)	0.22	-	82.59	0.22
2022	110.54	101.3 %	0.29	-	110.54	0.29
Q1 2023	8.87	130.1 %	0.02	-	8.87	0.02
Q2 2023	(82.52)	(282.1 %)	(0.22)	-	(82.52)	(0.22)
Q3 2023	(15.62)	(229.2 %)	(0.04)	-	(15.62)	(0.04)
Q4 2023	156.90	90.0 %	0.42	-	156.90	0.42
2023	67.63	(38.8 %)	0.18	-	67.63	0.18

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	276.25	77.1 %	1.00	-	276.25	1.00
2015	147.63	(46.6 %)	0.53	-	147.63	0.53
2016	73.68	(50.1 %)	0.27	6.25	67.43	0.24
2017	132.48	79.8 %	0.48	(15.50)	147.98	0.54
2018	(183.07)	(238.2 %)	(0.66)	(203.36)	20.29	0.07
2019	(186.35)	(1.8 %)	(0.67)	(97.51)	(88.84)	(0.32)
2020	(140.74)	24.5 %	(0.51)	(93.11)	(47.63)	(0.17)
2021	54.91	139.0 %	0.20	53.62	1.29	0.00
2022	110.54	101.3 %	0.29	-	110.54	0.29
2023	67.63	(38.8 %)	0.18	-	67.63	0.18

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	69.17 %	72.93 %	67.43 %
Q2 2014	70.06 %	72.62 %	71.12 %
Q3 2014	69.85 %	71.83 %	78.16 %
Q4 2014	74.26 %	75.43 %	81.75 %
2014	74.26 %	75.43 %	80.96 %
Q1 2015	74.30 %	75.34 %	82.57 %
Q2 2015	73.75 %	75.55 %	78.47 %
Q3 2015	74.06 %	75.76 %	71.32 %
Q4 2015	69.89 %	70.12 %	52.93 %
2015	69.89 %	70.11 %	52.93 %
Q1 2016	69.97 %	70.35 %	45.76 %
Q2 2016	69.98 %	68.25 %	47.95 %
Q3 2016	68.02 %	62.69 %	46.12 %
Q4 2016	68.79 %	63.62 %	24.33 %
2016	68.81 %	63.64 %	21.44 %
Q1 2017	68.13 %	62.73 %	30.80 %
Q2 2017	68.10 %	61.80 %	22.65 %
Q3 2017	68.65 %	61.40 %	17.95 %
Q4 2017	66.64 %	61.44 %	46.11 %
2017	66.64 %	61.43 %	46.98 %
Q1 2018	66.83 %	60.05 %	41.86 %
Q2 2018	67.59 %	55.60 %	43.31 %
Q3 2018	64.71 %	48.48 %	42.06 %
Q4 2018	62.45 %	34.38 %	6.84 %
2018	62.45 %	34.38 %	6.84 %
Q1 2019	61.12 %	24.15 %	1.28 %
Q2 2019	56.16 %	18.64 %	(0.73 %)
Q3 2019	55.14 %	21.71 %	(1.94 %)
Q4 2019	50.78 %	(4.90 %)	(26.28 %)
2019	50.78 %	(4.90 %)	(26.28 %)
Q1 2020	47.49 %	(2.50 %)	(30.01 %)
Q2 2020	44.78 %	(2.88 %)	(34.07 %)
Q3 2020	40.30 %	(5.89 %)	(33.08 %)
Q4 2020	33.51 %	0.26 %	(8.61 %)
2020	33.51 %	0.26 %	(8.61 %)
Q1 2021	29.48 %	(1.10 %)	(8.46 %)
Q2 2021	29.99 %	1.64 %	(8.75 %)
Q3 2021	29.79 %	2.42 %	(11.72 %)
Q4 2021	33.78 %	17.95 %	0.13 %
2021	33.78 %	17.95 %	0.13 %
Q1 2022	32.42 %	16.94 %	(1.77 %)
Q2 2022	28.15 %	17.03 %	2.22 %
Q3 2022	26.58 %	17.90 %	3.92 %
Q4 2022	22.24 %	16.62 %	5.39 %
2022	22.24 %	16.62 %	5.39 %
Q1 2023	23.91 %	19.17 %	6.88 %
Q2 2023	21.77 %	15.72 %	1.09 %
Q3 2023	22.67 %	15.77 %	(0.35 %)
Q4 2023	30.93 %	22.70 %	3.73 %
2023	30.93 %	22.70 %	3.73 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	74.26 %	75.43 %	80.96 %
2015	69.89 %	70.11 %	52.93 %
2016	68.81 %	63.64 %	21.44 %
2017	66.64 %	61.43 %	46.98 %
2018	62.45 %	34.38 %	6.84 %
2019	50.78 %	(4.90 %)	(26.28 %)
2020	33.51 %	0.26 %	(8.61 %)
2021	33.78 %	17.95 %	0.13 %
2022	22.24 %	16.62 %	5.39 %
2023	30.93 %	22.70 %	3.73 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	68.52 %	69.71 %	58.77 %
Q2 2014	69.81 %	67.64 %	74.02 %
Q3 2014	68.94 %	72.06 %	89.99 %
Q4 2014	81.29 %	83.04 %	91.48 %
Q1 2015	69.03 %	69.56 %	64.16 %
Q2 2015	67.26 %	69.07 %	53.62 %
Q3 2015	70.65 %	73.27 %	54.11 %
Q4 2015	72.44 %	68.53 %	40.69 %
Q1 2016	69.40 %	70.50 %	35.23 %
Q2 2016	67.55 %	61.02 %	61.49 %
Q3 2016	63.07 %	51.57 %	46.59 %
Q4 2016	74.31 %	70.67 %	(34.81 %)
Q1 2017	66.65 %	66.33 %	60.77 %
Q2 2017	67.46 %	57.28 %	26.34 %
Q3 2017	65.48 %	50.23 %	26.66 %
Q4 2017	66.99 %	72.26 %	71.37 %
Q1 2018	67.40 %	60.74 %	43.72 %
Q2 2018	70.37 %	40.24 %	32.76 %
Q3 2018	52.19 %	17.39 %	18.36 %
Q4 2018	57.01 %	12.08 %	(85.30 %)
Q1 2019	62.65 %	22.84 %	25.54 %
Q2 2019	52.67 %	21.45 %	29.95 %
Q3 2019	49.60 %	28.03 %	10.23 %
Q4 2019	42.36 %	(68.95 %)	(129.98 %)
Q1 2020	47.35 %	24.47 %	(1.86 %)
Q2 2020	40.42 %	13.89 %	(1.51 %)
Q3 2020	33.33 %	7.78 %	(1.47 %)
Q4 2020	24.71 %	(20.34 %)	(18.67 %)
Q1 2021	26.88 %	8.51 %	(4.47 %)
Q2 2021	38.13 %	19.57 %	(5.63 %)
Q3 2021	32.11 %	11.37 %	(16.94 %)
Q4 2021	35.22 %	22.36 %	7.85 %
Q1 2022	23.88 %	7.81 %	(10.44 %)
Q2 2022	22.72 %	17.91 %	7.71 %
Q3 2022	22.27 %	19.00 %	3.14 %
Q4 2022	21.28 %	17.63 %	10.37 %
Q1 2023	32.64 %	24.32 %	2.26 %
Q2 2023	10.31 %	(1.64 %)	(23.21 %)
Q3 2023	26.70 %	19.23 %	(4.01 %)
Q4 2023	43.20 %	36.55 %	23.19 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	276.53	0.55	0.63	11.92
Q2 2014	276.53	0.65	0.67	12.14
Q3 2014	276.53	0.74	0.74	12.20
Q4 2014	276.53	1.01	1.01	12.51
Q1 2015	276.53	1.03	1.03	12.44
Q2 2015	276.53	0.99	0.99	12.50
Q3 2015	276.53	0.91	0.91	12.33
Q4 2015	276.53	0.53	0.53	12.39
Q1 2016	276.53	0.47	0.47	12.54
Q2 2016	276.53	0.49	0.50	12.58
Q3 2016	276.53	0.48	0.50	12.10
Q4 2016	276.53	0.30	0.28	12.68
Q1 2017	276.53	0.38	0.36	12.78
Q2 2017	276.53	0.30	0.27	12.55
Q3 2017	276.53	0.25	0.21	12.34
Q4 2017	276.53	0.47	0.53	12.54
Q1 2018	276.53	0.46	0.48	12.65
Q2 2018	276.53	0.49	0.50	12.50
Q3 2018	276.53	0.46	0.47	12.52
Q4 2018	276.53	(0.66)	0.07	11.43
Q1 2019	276.53	(0.76)	0.01	11.51
Q2 2019	276.53	(0.79)	(0.01)	11.54
Q3 2019	276.53	(0.80)	(0.02)	11.53
Q4 2019	276.53	(0.67)	(0.32)	10.74
Q1 2020	276.53	(0.75)	(0.39)	10.61
Q2 2020	276.53	(0.85)	(0.48)	10.69
Q3 2020	276.53	(0.91)	(0.52)	10.83
Q4 2020	276.53	(0.51)	(0.17)	10.35
Q1 2021	276.53	(0.51)	(0.20)	10.31
Q2 2021	276.53	(0.53)	(0.22)	10.43
Q3 2021	276.53	(0.59)	(0.30)	10.23
Q4 2021	276.53	0.20	0.00	10.71
Q1 2022	276.53	0.11	(0.07)	10.60
Q2 2022	375.00	0.23	0.09	12.05
Q3 2022	375.00	0.32	0.19	12.05
Q4 2022	375.00	0.29	0.29	12.29
Q1 2023	375.00	0.40	0.40	12.31
Q2 2023	375.00	0.06	0.06	12.20
Q3 2023	375.00	(0.02)	(0.02)	12.17
Q4 2023	375.00	0.18	0.18	12.66

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	276.53	1.00	1.00	12.51
2015	276.53	0.53	0.53	12.39
2016	276.53	0.27	0.24	12.68
2017	276.53	0.48	0.54	12.54
2018	276.53	(0.66)	0.07	11.43
2019	276.53	(0.67)	(0.32)	10.74
2020	276.53	(0.51)	(0.17)	10.35
2021	276.53	0.20	0.00	10.71
2022	375.00	0.29	0.29	12.29
2023	375.00	0.18	0.18	12.66

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	38.39	33.22	1.76
Q2 2014	38.09	36.89	2.04
Q3 2014	37.81	37.81	2.30
Q4 2014	19.50	19.50	1.57
Q1 2015	20.38	20.38	1.69
Q2 2015	22.11	22.11	1.75
Q3 2015	15.10	15.10	1.11
Q4 2015	25.33	25.33	1.09
Q1 2016	23.14	23.14	0.87
Q2 2016	25.82	25.24	1.01
Q3 2016	21.58	21.08	0.86
Q4 2016	52.38	56.66	1.24
Q1 2017	32.25	34.30	0.96
Q2 2017	41.10	46.36	0.98
Q3 2017	48.86	56.69	0.97
Q4 2017	28.10	25.10	1.05
Q1 2018	27.94	26.68	1.01
Q2 2018	38.08	37.27	1.50
Q3 2018	36.00	35.19	1.33
Q4 2018	NEG	More than 100	1.26
Q1 2019	NEG	More than 100	1.33
Q2 2019	NEG	NEG	1.24
Q3 2019	NEG	NEG	1.24
Q4 2019	NEG	NEG	1.50
Q1 2020	NEG	NEG	1.35
Q2 2020	NEG	NEG	1.39
Q3 2020	NEG	NEG	1.66
Q4 2020	NEG	NEG	1.72
Q1 2021	NEG	NEG	2.11
Q2 2021	NEG	NEG	3.01
Q3 2021	NEG	NEG	2.70
Q4 2021	More than 100	More than 100	2.23
Q1 2022	More than 100	NEG	2.35
Q2 2022	59.39	More than 100	1.11
Q3 2022	38.84	66.38	1.04
Q4 2022	38.74	38.74	0.93
Q1 2023	31.19	31.19	1.01
Q2 2023	More than 100	More than 100	1.15
Q3 2023	NEG	NEG	1.12
Q4 2023	88.38	88.38	1.26

Period	P/E	Adjusted P/E	Price/book
2014	19.69	19.69	1.57
2015	25.33	25.33	1.09
2016	58.84	64.29	1.24
2017	27.51	24.63	1.05
2018	NEG	More than 100	1.26
2019	NEG	NEG	1.50
2020	NEG	NEG	1.72
2021	More than 100	More than 100	2.23
2022	38.74	38.74	0.93
2023	88.38	88.38	1.26

Business Segments (Million)

Compared With The

Period	Infrastructure Projects	Property Sales	Rental	Facility Management	Construction Project	elimination	services segment	Residential sector	The commercial sector	Rents	Other real estate revenues	Maintenance revenues	Sale of Land	Amana Project
Q1 2014	-	-	-	-	-	-	-	-	-	63.23	0.02	0.51	-	-
Q2 2014	-	-	-	-	-	-	-	-	-	64.47	0.01	0.40	-	-
Q3 2014	-	-	-	-	-	-	-	-	-	67.32	0.28	0.49	-	-
Q4 2014	-	-	-	-	-	-	-	-	-	67.06	-	0.56	77.15	-
Q1 2015	-	-	-	-	-	-	-	-	-	66.68	0.02	0.51	-	-
Q4 2016	-	-	-	-	-	-	-	113.91	(24.39)	-	-	-	-	-
Q1 2017	-	-	-	-	-	-	-	45.84	32.76	-	-	-	-	-
Q2 2017	-	-	-	-	-	-	-	21.60	57.05	-	-	-	-	-
Q3 2017	-	-	-	-	-	-	-	33.98	46.15	-	-	-	-	-
Q4 2017	-	-	-	-	-	-	-	35.82	41.81	-	-	-	-	-
Q1 2018	-	-	-	-	-	-	-	44.71	35.58	-	-	-	-	-
Q2 2018	-	-	-	-	-	-	-	28.12	55.00	-	-	-	-	-
Q3 2018	-	-	-	-	-	-	-	30.99	37.69	-	-	-	-	-
Q4 2018	-	-	-	-	-	-	-	28.19	36.29	-	-	-	-	-
Q1 2019	-	-	-	-	-	-	-	32.44	39.96	-	-	-	-	-
Q2 2019	-	-	-	-	-	-	-	28.83	42.97	-	-	-	-	-
Q3 2019	-	-	-	-	-	-	-	31.71	56.08	-	-	-	-	-
Q4 2019	-	-	-	-	-	-	36.04	31.58	38.41	-	-	-	-	-
Q1 2020	-	-	-	-	-	-	25.79	33.30	39.04	-	-	-	-	-
Q2 2020	-	-	-	-	-	-	34.03	31.02	30.75	-	-	-	-	-
Q3 2020	-	-	-	-	-	-	65.08	31.51	35.89	-	-	-	-	-
Q4 2020	-	-	-	-	-	-	117.84	34.99	69.82	-	-	-	-	-
Q1 2021	-	-	-	-	-	-	5.31	32.22	145.07	-	-	-	-	-
Q2 2021	-	-	-	-	-	-	5.70	35.59	121.63	-	-	-	-	-
Q4 2021	-	-	-	-	-	-	136.24	235.69	170.12	-	-	-	-	-
Q1 2022	-	-	-	-	-	-	108.10	145.25	28.79	-	-	-	-	-
Q2 2022	-	-	-	-	-	-	197.10	304.01	86.70	-	-	-	-	-
Q3 2022	-	-	-	-	-	-	170.35	182.97	31.56	-	-	-	-	-
Q4 2022	-	-	-	-	-	-	379.02	40.91	376.53	-	-	-	-	-
Q1 2023	198.49	83.80	66.84	11.94	31.91	-	-	-	-	-	-	-	-	-
Q2 2023	208.76	57.86	72.18	9.66	7.02	-	-	-	-	-	-	-	-	-
Q3 2023	251.88	28.46	78.12	11.72	18.95	-	-	-	-	-	-	-	-	-
Q4 2023	236.98	320.72	84.97	66.55	33.13	-	-	-	-	-	-	-	-	-

Period	Infrastructure Projects	Property Sales	Rental	Facility Management	Construction Project	elimination	services segment	Residential sector	The commercial sector	Rents	Other real estate revenues	Maintenance revenues	Sale of Land	Amana Project
2014	-	-	-	-	-	-	-	-	-	262.06	0.06	1.96	77.15	-
2015	-	-	-	-	-	-	-	-	-	277.12	0.08	1.69	-	-
2016	-	-	-	-	-	-	-	198.79	115.68	-	-	-	-	-
2017	-	-	-	-	-	-	-	137.24	177.77	-	-	-	-	-
2018	-	-	-	-	-	-	-	132.01	164.56	-	-	-	-	-
2019	-	-	-	-	-	-	36.04	124.56	177.41	-	-	-	-	-
2020	-	-	-	-	-	-	247.16	130.81	175.49	-	-	-	-	-
2021	-	-	-	-	-	-	428.62	337.62	262.61	-	-	-	-	-
2022	-	-	-	-	-	-	854.57	673.13	523.58	-	-	-	-	-
2023	896.10	490.84	302.10	99.86	91.02	(65.69)	-	-	-	-	-	-	-	-

Analysts Estimates (Million)

Item	Q4 2023 (e)	Q4 2023 (a)	Change‬
Average	(12.00)	156.90	1407.53 %

Estimates vs Actual (Million)

Item	Q4 2023 (e)	Q4 2023 (a)	Change
GIB Capital	(12.00)	156.90	1,407.5 %

Financial Ratios

	Current
Market Cap (M Riyal)	9,412.50
Enterprise Value (EV) (M)	11,747.04
Shares Outstanding ((M))	375.00
EPS ( Riyal) (TTM)	0.49
Book Value (BV) ( Riyal)	12.79
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
P/E (TTM)	More than 100
Price/book	1.96
Return on Average Assets (%) (TTM)	2.0
Return on Average Equity (%) (TTM)	3.9

Saudi Real Estate Co. (ALAKARIA)

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Al Akaria profit falls to SAR 67.6M in 2023; Q4 at SAR 156.8M

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Financials (M)

Current Quarter Comparison (M)

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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) 2023 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

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Saudi Real Estate Co. (ALAKARIA)

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Al Akaria profit falls to SAR 67.6M in 2023; Q4 at SAR 156.8M

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Financials (M)

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) Q4 2023

Revenue by Business Segment (Latest) 2023 Q4

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Saudi Real Estate Co. (ALAKARIA)

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Business Segments (Million)