Ash-Sharqiyah loses SAR 4.2M in 2024, SAR 13M in Q4

25/03/2025 Argaam Exclusive

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Ash-Sharqiyah Development Co. widened its net losses to SAR 4.2 million in 2024, from SAR 185,000 a year earlier, after allocating a Zakat provision exceeding SAR 5 million.



Financials (M)

Item 2023 2024 Change‬
Revenues 0.00 85.82 -
Gross Income 0.00 2.66 -
Operating Income (6.10) (17.46) (186.4 %)
Net Income (0.19) (4.17) (2,143.6 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) (0.01) (0.14) (2,143.6 %)
EPS (Riyals) (0.01) (0.14) (2,143.6 %)

This was partially offset by revenues generated this year, compared to none in 2023. This came as the company’s subsidiaries commenced commercial operations mid-year.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 0.00 34.29 -
Gross Income 0.00 (1.30) -
Operating Income (1.47) (10.74) (629.0 %)
Net Income 1.67 (12.95) (874.9 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 0.06 (0.43) (874.9 %)
EPS (Riyals) 0.06 (0.43) (874.9 %)

In Q4 2024, Ash-Sharqiyah turned to losses of SAR 13 million, against a net profit of SAR 1.67 million in Q4 2023.

 

The company recorded net earnings of SAR 6 million in Q3 2024.

 

Total shareholders’ equity, no minority interest, fell to SAR 358.29 million as of Dec. 31, 2024, compared to SAR 365.85 million a year earlier.

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Share Price

Ash-Sharqiyah Development Co.
18.88
(0.10) (0.53 %)

Ash-Sharqiyah Development Co. (SHARQIYAH DEV)

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Financial Ratios
Current
Market Cap (M Riyal) 566.40
Enterprise Value (EV) (M) 388.85
Shares Outstanding ((M)) 30.00
EPS ( Riyal) (TTM) (0.14)
Book Value (BV) ( Riyal) 11.94
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 1.58
Return on Average Assets (%) (TTM) (1.00 )
Return on Average Equity (%) (TTM) (1.15 )
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