Mulkia Investment profit jumps 17% to SAR 24.3M in 2024; H2 at SAR 15.7M

05/03/2025 Argaam Exclusive

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Mulkia Investment Co.'s net profit rose by 17% year-on-year (YoY) to SAR 24.3 million in 2024, compared to SAR 20.8 million a year before.

Financials (M)

Item	2023	2024	Change‬
Revenues	43.83	46.18	5.4 %
Operating Income	23.00	26.24	14.1 %
Net Income	20.82	24.27	16.6 %
Average Shares	6.50	6.50	-
Earnings Per Share before unusual items (Riyals)	3.20	3.73	16.6 %
EPS (Riyals)	3.20	3.73	16.6 %

Operating revenues grew SAR 2.4 million year-on-year (YoY) to SAR 46.2 million in 2024, due to a SAR 5.5 million increase in realized and unrealized gains from investments listed at fair value through profit or loss in 2024 compared to 2023.

Meanwhile, operating expenses decreased YoY by SAR 0.9 million in 2024.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2023	H2 2024	Change‬
Revenues	20.24	26.63	31.6 %
Operating Income	8.36	16.53	97.7 %
Net Income	7.31	15.70	114.7 %
Average Shares	6.50	6.50	-
Earnings Per Share before unusual items (Riyals)	1.13	2.42	114.7 %
EPS (Riyals)	1.13	2.42	114.7 %

Item	H1 2024	H2 2024	Change‬
Revenues	19.55	26.63	36.2 %
Operating Income	9.71	16.53	70.2 %
Net Income	8.57	15.70	83.2 %
Average Shares	6.50	6.50	-
Earnings Per Share before unusual items (Riyals)	1.32	2.42	83.2 %
EPS (Riyals)	1.32	2.42	83.2 %

On the other hand, investment services and asset management revenues fell by SAR 3.4 million in 2024 due to certain non-recurring annual transactions.

H2 2024 net earnings rose 114.7% to SAR 15.7 million, compared to SAR 7.31 million in H2 2023.

On a sequential basis, net profit grew 83.2% from SAR 8.57 million in H1 2024.

Shareholders’ equity, no minority interest, stood at SAR 97.23 million by Dec. 31, 2024, compared to SAR 89.29 million a year earlier.

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