Banan profit rises 2% to SAR 28.8M in 2023

20/02/2024 Argaam Exclusive

Banan Real Estate Co. reported a net profit of SAR 28.8 million for 2023, a 2% increase from SAR 28.2 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 59.30 65.97 11.3 %
Gross Income 47.94 52.74 10.0 %
Operating Income 42.71 46.01 7.7 %
Net Income 28.22 28.77 2.0 %
Average Shares 200.00 200.00 -
EPS (Riyals) 0.14 0.14 2.0 %

The profit growth was attributed to a rise in revenues by SAR 6.67 million and an increase in the company’s earnings from joint ventures by SAR 2.02 million in 2023.

 

However, this was offset by a SAR 1.87 million hike in the cost of revenues for the same year.

 

In addition, the company cited last year an increase in the general and administrative expenses by SAR 2.84 million due to its application to transition to the main market, TASI.

 

Total shareholders’ equity, excluding minority interest, reached SAR 379 million by the end of 2023, compared with SAR 354.1 million a year ago.

 

Banan’s Interim Financials

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2020

6.25

8.46

0.04

H2 2020

6.24

8.04

0.04

H1 2021

8.92

12.91

0.06

H2 2021

9.98

11.42

0.06

H1 2022

31.07

14.98

0.07

H2 2022

28.22

13.24

0.07

H1 2023

32.42

13.81

0.07

H2 2023

33.55

14.96

0.07


Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬

 

View More Financial Results

 

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Share Price

Banan Real Estate Co.
6.81
(0.14) (2.01 %)

Banan Real Estate Co. (BANAN)

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Financial Ratios
Current
Market Cap (M Riyal) 1,362.00
Enterprise Value (EV) (M) 1,544.64
Shares Outstanding ((M)) 200.00
EPS ( Riyal) (TTM) 0.20
Book Value (BV) ( Riyal) 1.99
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 33.73
P/E (TTM) 33.73
Price/book 3.43
Return on Average Assets (%) (TTM) -
Return on Average Equity (%) (TTM) 10.5
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