Dar Almarkabah turns to net loss of SAR 74,000 in H1 2024

14/08/2024 Argaam Exclusive

Dar Almarkabah for Renting Cars Co. reported a net loss of SAR 74,000 in H1 2024, versus a net profit of SAR 3.3 million in a year-earlier period. 



Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 30.59 35.44 15.9 %
Gross Income 9.83 8.73 (11.2 %)
Operating Income 5.60 1.67 (70.3 %)
Net Income 3.28 (0.07) (102.3 %)
Average Shares 2.00 2.50 25.0 %
Earnings Per Share before unusual items (Halala) 164.14 (2.96) (101.8 %)
EPS (Halala) 164.14 (2.96) (101.8 %)

This was driven by higher general and administrative expenses and increased financing costs as a result of the expansions in the company’s business activities.

 

Meanwhile, H1 2024 revenues rose 15.9% year-on-year due to the expansion of the fleet and the improvement in the occupancy rates.

 

Total shareholders’ equity, no minority interest, reached SAR 40.73 million by June 30, 2024, compared to SAR 24.33 million in the prior-year period.

 

Accumulated losses by June 30, 2024, amounted to SAR 312,501, accounting for 1% of capital.

 

Development of Interim Financials

Period

Revenue (SAR mln)

Net Earnings (SAR mln)

EPS ( SAR/Share)

H1 2022

29.65

2.95

1.48

H2 2022

30.39

1.51

0.75

H1 2023

30.59

3.28

1.64

H2 2023

40.39

(3.41)

(1.36)

H1 2024

35.44

(0.73)

(0.03)

 

View More Financial Results

 

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Share Price

Dar Almarkabah for Renting Cars Co.
3.20
(0.24) (6.98 %)

Dar Almarkabah for Renting Cars Co. (DAR ALMARKABAH)

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