Jabal Omar earns SAR 903.9M in H1 2025, loses SAR 42.1M in Q2

03/08/2025 Argaam Exclusive

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Jabal Omar Development Co. posted net earnings of SAR 903.9 million in H1 2025, surging from SAR 52.3 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 1,217.97 1,249.44 2.6 %
Gross Income 550.37 524.68 (4.7 %)
Operating Income 393.44 205.49 (47.8 %)
Net Income 52.34 903.88 1627.1 %
Average Shares 1,160.91 1,180.02 1.6 %
Earnings Per Share before unusual items (Riyals) 0.05 (0.07) (265.5 %)
EPS (Riyal) 0.05 0.77 1599.1 %

Revenues increased during the six-month period, mainly due to a rise in revenues from hotels and commercial centers.

 

The company also cited recognition of a gain from a land sale amounting to SAR 918 million, as well as a decrease in Zakat provisions by SAR 73 million. This was along with an increase in the fair value of financial instruments carried at fair value through profit or loss by SAR 37 million.

 

However, the firm recorded a higher impairment charge (a non-cash item) on properties amounting to SAR 201 million and an increase in depreciation expense by SAR 46 million, mainly due to the full operation of the Jumeirah Hotel during the current period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 625.12 501.70 (19.7 %)
Gross Income 296.09 192.82 (34.9 %)
Operating Income 214.87 52.52 (75.6 %)
Net Income 33.32 (42.06) (226.2 %)
Average Shares 1,160.91 1,180.02 1.6 %
Earnings Per Share before unusual items (Riyal) 0.03 (0.10) (441.6 %)
EPS (Riyal) 0.03 (0.04) (224.2 %)

The company turned to a net loss of SAR 42.1 million in Q2 2025, against net earnings of SAR 33.32 million in Q2 2024, mainly hurt by lower revenues and gross profit.

 

On a quarterly basis, the company also swung to a loss from earnings of SAR 945.94 million in Q1 2025.

 

Total shareholders’ equity, excluding minority interest, rose to SAR 14.37 billion as of June 30, 2025, from SAR 12.77 billion a year earlier.

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Share Price

Jabal Omar Development Co.
18.63
(0.18) (0.96 %)

Jabal Omar Development Co. (JABAL OMAR)

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Financial Ratios
Current
Market Cap (M Riyal) 21,983.83
Enterprise Value (EV) (M Riyal) 31,236.11
Shares Outstanding ((M)) 1,180.02
EPS ( Riyal) (TTM) 0.89
Book Value (BV) ( Riyal) 12.18
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) 20.90
Price/book 1.53
Return on Average Assets (%) (TTM) 3.8
Return on Average Equity (%) (TTM) 7.7
EV/adj EBITDA 25.04
EV/Revenues 16.16
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