MBC Group earns SAR 221.1M in 9M; SAR 9.1M in Q3 2024

10/11/2024 Argaam Exclusive

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MBC Group Co. reported a net profit SAR 221.1 million for the first nine months of 2024, compared to SAR 52 million in the year-earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 2,649.05 2,956.70 11.6 %
Gross Income 622.99 891.41 43.1 %
Operating Income (45.47) 123.81 372.3 %
Net Income 52.02 221.12 325.0 %
Average Shares 299.25 332.50 11.1 %
Earnings Per Share before unusual items (Riyals) 0.04 0.63 1399.8 %
EPS (Riyals) 0.17 0.67 282.5 %

This was spurred by higher revenue from broadcast, commercial activities as well as Shahid platform. Gross profit margins rose to 30.1%, compared to 23.5% in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 649.34 757.08 16.6 %
Gross Income 174.73 192.48 10.2 %
Operating Income (42.18) (33.41) 20.8 %
Net Income 5.76 9.06 57.3 %
Average Shares 299.25 332.50 11.1 %
Earnings Per Share before unusual items (Riyals) 0.02 0.03 41.6 %
EPS (Riyals) 0.02 0.03 41.6 %

Q3 2024 net profit stood at SAR 9.1 million, compared to SAR 5.76 in the year-earlier period, on higher revenue and an increase in gross profit.
 
On a sequential basis, net earnings plunged 92.2% from SAR 116.49 million in Q2 2024.

 

 

Total shareholders’ equity (excluding minority interest) stood at SAR 3.99 billion by Sept. 30, 2024, compared to SAR 3 billion a year earlier.

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Share Price

MBC Group Co.
40.30
0.85 2.15 %

MBC Group Co. (MBC GROUP)

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Financial Ratios
Current
Market Cap (M Riyal) 13,117.13
Enterprise Value (EV) (M) 11,702.09
Shares Outstanding ((M)) 332.50
EPS ( Riyal) (TTM) 1.20
Book Value (BV) ( Riyal) 12.55
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 81.19
P/E (TTM) 32.80
Price/book 3.14
Return on Average Assets (%) (TTM) 4.8
Return on Average Equity (%) (TTM) 10.1
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