Miahona 9M 2024 net profit dips 3% to SAR 42.5M; Q3 at SAR 14.4M

06/11/2024 Argaam Exclusive

Miahona Co. reported a net profit of SAR 44.8 million for the first nine months of 2024, an increase of 1.8% from SAR 44 million in the year-earlier period, on higher revenue from constructions, increased gross profit and a rise in other revenue, despite the increase of general and administrative expenses (G&As).



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 225.62 248.08 10.0 %
Gross Income 79.60 80.13 0.7 %
Operating Income 52.22 51.91 (0.6 %)
Net Income 44.00 44.81 1.8 %
Average Shares 160.93 160.93 -
EPS (Riyals) 0.27 0.28 1.8 %


Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 76.00 88.48 16.4 %
Gross Income 28.96 24.57 (15.2 %)
Operating Income 21.63 19.76 (8.6 %)
Net Income 18.91 16.72 (11.6 %)
Average Shares 160.93 160.93 -
EPS (Riyals) 0.12 0.10 (11.6 %)

Q3 2024 net profit stood at SAR 16.7 million, a decline of 12% year-on-year (YoY) from SAR 18.9 million.

 

On a sequential basis, net earnings increased by almost two-fold from SAR 8.10 million in Q2 2024, due to higher G&As and higher depreciation expenses for capital expenditure.

 

Total shareholders’ equity (after minority equity) stood at SAR 423.31 million by Sept. 30, 2024, compared to SAR 385.98 million a year earlier.

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Quarterly Actuals vs Estimates 06/11/2024

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Share Price

Miahona Co.
27.50
0.50 1.85 %

Miahona Co. (MIAHONA)

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Financial Ratios
Current
Market Cap (M Riyal) 4,345.11
Enterprise Value (EV) (M) 4,659.23
Shares Outstanding ((M)) 160.93
EPS ( Riyal) (TTM) 0.36
Book Value (BV) ( Riyal) 2.63
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 10.26
Return on Average Assets (%) (TTM) 5.6
Return on Average Equity (%) (TTM) 14.2
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