Fitaihi earnings surge to SAR 11M in 9M 2024, SAR 910,000 in Q3

05/11/2024 Argaam Exclusive

Fitaihi Holding Group Co. posted a net profit of SAR 11 million for the first nine months of 2024, soaring 171% from SAR 4 million a year earlier.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 35.65 27.90 (21.7 %)
Gross Income 15.89 11.50 (27.6 %)
Operating Income (4.02) (6.90) (71.5 %)
Net Income 4.05 10.97 171.0 %
Average Shares 275.00 275.00 -
EPS (Riyals) 0.01 0.04 171.0 %

The annual profit hike came as the company's share of an associate’s income leapt by 188.6% year-on-year (YoY) to SAR 12.7 million in the nine-month period.

 

The ratio of dividends to equity instruments at fair value through comprehensive income rose by 23.4% YoY to SAR 7.9 million for the same period.

 

Selling, distribution, administrative, general, and other expenses decreased by 7.5% YoY to SAR 18.6 million in 9M 2024.

 

However, sales dropped 21.6% YoY to SAR 27.9 million in the first nine months of 2024.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 6.95 8.30 19.4 %
Gross Income 2.92 3.20 9.7 %
Operating Income (3.44) (2.70) 21.5 %
Net Income (2.43) 0.91 137.3 %
Average Shares 275.00 275.00 -
EPS (Riyals) (0.01) 0.00 137.3 %

In Q3 2024, the company turned to net earnings of SAR 910,000, against losses of SAR 2.43 million a year earlier.

 

Sequentially, net earnings fell 88.7% from SAR 8.03 million in Q2 2024.

 

Shareholders’ equity, no minority interest, climbed to SAR 470.2 million as of Sept. 30, 2024, up from SAR 462.2 million a year earlier.

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Share Price

Fitaihi Holding Group
4.04
0.02 0.50 %

Fitaihi Holding Group (FITAIHI GROUP)

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Financial Ratios
Current
Market Cap (M Riyal) 1,111.00
Enterprise Value (EV) (M) 1,099.15
Shares Outstanding ((M)) 275.00
EPS ( Riyal) (TTM) 0.04
Book Value (BV) ( Riyal) 1.71
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 2.36
Return on Average Assets (%) (TTM) 2.5
Return on Average Equity (%) (TTM) 2.6
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