MBC Group earns SAR 250.5M in 9M; SAR 12.7M in Q3 2024

10/11/2024 Argaam Exclusive

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MBC Group Co. reported a net profit SAR 250.5 million for the first nine months of 2024, compared to SAR 52.4 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	2,649.10	2,956.70	11.6 %
Gross Income	623.00	891.41	43.1 %
Operating Income	(45.46)	123.81	372.3 %
Net Income	52.40	250.52	378.1 %
Average Shares	299.25	332.50	11.1 %
EPS (Riyals)	0.18	0.75	330.3 %

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	0.68	12.75	1771.8 %
Average Shares	299.25	332.50	11.1 %
EPS (Riyals)	0.00	0.04	1584.6 %

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	12.75	(89.1 %)
Average Shares	332.50	332.50	-
EPS (Riyals)	0.35	0.04	(89.1 %)

Q3 2024 net profit stood at SAR 12.7 million, compared to SAR 681,000 in the year-earlier period, on higher revenue and an increase in gross profit.

On a sequential basis, net earnings plunged by 89.1% 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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