Financial Results : Taiba makes SAR 333.7M profit in 2024, SAR 90.1M in Q4

Taiba makes SAR 333.7M profit in 2024, SAR 90.1M in Q4

19/03/2025 Argaam Exclusive

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Taiba Investments Co. reported a net profit surge to SAR 333.7 million for 2024, compared to SAR 109.2 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Revenues 536.40 1,315.30 145.2 %
Gross Income 343.10 558.60 62.8 %
Operating Income 164.70 426.90 159.2 %
Net Income 109.20 333.70 205.6 %
Average Shares 168.79 260.46 54.3 %
Earnings Per Share before unusual items (Riyals) 1.48 1.28 (13.1 %)
EPS (Riyals) 0.65 1.28 98.0 %

The annual net profit spike was spurred by an over twofold increase in operating revenue to SAR 1.31 billion in 2024, thanks to improved topline across segments amid higher occupancy rates and an increase in the number of Umrah and Hajj performers.

 

Additionally, Taiba benefited from Dur Hospitality Co.’s wide geographical presence following its acquisition by Taiba.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 175.89 337.31 91.8 %
Gross Income 96.52 162.33 68.2 %
Operating Income (27.72) 110.32 498.0 %
Net Income (34.31) 90.07 362.5 %
Average Shares 168.79 260.46 54.3 %
Earnings Per Share before unusual items (Riyals) 0.41 0.35 (16.4 %)
EPS (Riyals) (0.20) 0.35 270.1 %

In Q4 2024, the company swung to net earnings of SAR 90.1 million from a net loss of SAR 34.3 million in the prior-year period.

 

Compared to Q3 2024, net earnings jumped 52% from SAR 59.2 million.

 

Total shareholders’ equity, after minority interest, rose to SAR 6.84 billion as of Dec. 31, 2024, compared to SAR 6.55 billion a year earlier.

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