Derayah Financial 9M 2024 net profit up 57% to SAR 336.3M; Q3 at SAR 108.3M

26/01/2025 Argaam Exclusive

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Derayah Financial Co. posted SAR 336.3 million net profit for the first nine months of 2024, an increase of 57% year-on-year (YoY) from SAR 214.7 million.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	437.18	644.04	47.3 %
Gross Income	324.87	508.97	56.7 %
Operating Income	250.21	384.90	53.8 %
Net Income	214.72	336.32	56.6 %
Average Shares	249.74	249.74	-
EPS (Riyals)	0.86	1.35	56.6 %

The company’s total revenues rose by 47% in the nine-month period, driven mainly by the 31% jump YoY in brokerage revenues, as well as higher income from Murabaha, asset management and investment segments.

Moreover, gross profit margin was up 79% in 9M 2024, compared to 74% in prior-year period. Net operating income rose to 60%, from 57% in the first nine months of 2023.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) was up 54% to SAR 399.28 million, compared to SAR 260.06 million in the year-ago period.

The profit-rise came despite the company's higher share in losses from its affiliate.

Meanwhile, Q3 net profit rose 34% YoY to SAR 108.3 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	171.45	209.84	22.4 %
Gross Income	129.79	171.91	32.4 %
Operating Income	97.47	130.16	33.5 %
Net Income	80.72	108.31	34.2 %
Average Shares	249.74	249.74	-
EPS (Riyals)	0.32	0.43	34.2 %

Shareholders’ equity (no minority interest) amounted to SAR 848.26 million by the end of 9M 2024, compared to SAR 830.74 million in the same period a year ago.

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