MBC Group earns SAR 221.1M in 9M; SAR 9.1M in Q3 2024

10/11/2024 Argaam Exclusive

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MBC Group Co. reported a net profit SAR 221.1 million for the first nine months of 2024, compared to SAR 52 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	2,649.05	2,956.70	11.6 %
Gross Income	622.99	891.41	43.1 %
Operating Income	(45.47)	123.81	372.3 %
Net Income	52.02	221.12	325.0 %
Average Shares	299.25	332.50	11.1 %
EPS (Riyals)	0.17	0.67	282.5 %

This was spurred by higher revenue from broadcast, commercial activities as well as Shahid platform. Gross profit margins rose to 30.1%, compared to 23.5% in the year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	649.34	757.08	16.6 %
Gross Income	174.73	192.48	10.2 %
Operating Income	(42.18)	(33.41)	20.8 %
Net Income	5.76	9.06	57.3 %
Average Shares	299.25	332.50	11.1 %
EPS (Riyals)	0.02	0.03	41.6 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	963.87	757.08	(21.5 %)
Gross Income	354.02	192.48	(45.6 %)
Operating Income	92.90	(33.41)	(136.0 %)
Net Income	116.49	9.06	(92.2 %)
Average Shares	332.50	332.50	-
EPS (Riyals)	0.35	0.03	(92.2 %)

Q3 2024 net profit stood at SAR 9.1 million, compared to SAR 5.76 in the year-earlier period, on higher revenue and an increase in gross profit.

On a sequential basis, net earnings plunged 92.2% from SAR 116.49 million in Q2 2024.

Total shareholders’ equity (excluding minority interest) stood at SAR 3.99 billion by Sept. 30, 2024, compared to SAR 3 billion a year earlier.

Attached Document:

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