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

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 437.18 644.04 47.3 %
Operating Income 250.21 384.90 53.8 %
Net Income 214.72 336.32 56.6 %
Average Shares 249.74 249.74 -
Earnings Per Share before unusual items (Riyals) 0.86 1.35 56.6 %
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 171.45 209.84 22.4 %
Operating Income 97.47 130.16 33.5 %
Net Income 80.72 108.31 34.2 %
Average Shares 249.74 249.74 -
Earnings Per Share before unusual items (Riyals) 0.32 0.43 34.2 %
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.



Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 - - - - - -
Q2 2021 - - - - - -
Q3 2021 - - - - - -
Q4 2021 - - - - - -
Q1 2022 - - - - - -
Q2 2022 - - - - - -
Q3 2022 - - - - - -
Q4 2022 - - - - - -
Q1 2023 64.97 - 0.26 - 64.97 0.26
Q2 2023 69.04 - 0.28 - 69.04 0.28
Q3 2023 80.72 - 0.32 - 80.72 0.32
Q4 2023 114.98 - 0.46 - 114.98 0.46
Q1 2024 136.16 109.6 % 0.55 - 136.16 0.55
Q2 2024 91.85 33.0 % 0.37 - 91.85 0.37
Q3 2024 108.31 34.2 % 0.43 - 108.31 0.43


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 - - - - - -
Q2 2021 - - - - - -
Q3 2021 - - - - - -
Q4 2021 - - - - - -
Q1 2022 - - - - - -
Q2 2022 - - - - - -
Q3 2022 - - - - - -
Q4 2022 - - - - - -
Q1 2023 122.82 - 122.82 - 72.80 -
Q2 2023 142.92 - 142.92 - 79.95 -
Q3 2023 171.45 - 171.45 - 97.47 -
Q4 2023 186.35 - 186.35 - 116.25 -
Q1 2024 221.90 80.7 % 221.90 80.7 % 151.73 108.4 %
Q2 2024 212.30 48.5 % 212.30 48.5 % 103.01 28.8 %
Q3 2024 209.84 22.4 % 209.84 22.4 % 130.16 33.5 %

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 - - -
Q3 2023 - - -
Q4 2023 100.00 % - 52.88 %
Q1 2024 100.00 % - 55.48 %
Q2 2024 100.00 % - 53.50 %
Q3 2024 100.00 % - 54.35 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 - - - -
Q2 2021 - - - -
Q3 2021 - - - -
Q4 2021 - - - -
Q1 2022 - - - -
Q2 2022 - - - -
Q3 2022 - - - -
Q4 2022 - - - -
Q1 2023 249.74 - - -
Q2 2023 249.74 - - 3.21
Q3 2023 249.74 - - 3.33
Q4 2023 249.74 1.32 1.32 3.25
Q1 2024 249.74 1.61 1.61 -
Q2 2024 249.74 1.70 1.70 3.85
Q3 2024 249.74 1.81 1.81 3.40

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 - - -
Q3 2023 - - -
Q4 2023 - - -
Q1 2024 - - -
Q2 2024 - - -
Q3 2024 - - -

Business Segments (Million)

Compared With The
Period Brokerage Asset Management Murabaha Investment Advisory
Q3 2023 109.52 26.42 31.86 3.65 -
Q4 2023 108.68 25.51 46.37 5.78 -
Q3 2024 123.72 35.31 46.74 4.07 -


Financial Ratios
Current
Market Cap (M Riyal) -
Enterprise Value (EV) (M) -
Shares Outstanding ((M)) 249.74
EPS ( Riyal) (TTM) 1.81
Book Value (BV) ( Riyal) 3.40
Par Value ( Riyal) 2.00
Adjusted P/E (Last12) -
P/E (TTM) -
Price/book -
Return on Average Assets (%) (TTM) -
Return on Average Equity (%) (TTM) -
more

Share Price

Derayah Financial Co.

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