Financial Results : Al Majdiah profit soars 107% to SAR 212.2M in H1 2025; Q2 at SAR 110.3M

Al Majdiah profit soars 107% to SAR 212.2M in H1 2025; Q2 at SAR 110.3M

14/08/2025 Argaam Exclusive

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Dar Al Majed Real Estate Co. (Al Majdiah), which will go public soon on the Main Market (TASI), reported an over twofold increase in its H1 2025 net profits to SAR 212.2 million, compared to SAR 102.6 million a year earlier.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 682.61 693.05 1.5 %
Gross Income 173.55 218.56 25.9 %
Operating Income 139.72 179.95 28.8 %
Net Income 102.59 212.22 106.9 %
Average Shares 300.00 300.00 -
Earnings Per Share before unusual items (Riyals) 0.34 0.71 106.9 %
EPS (Riyal) 0.34 0.71 106.9 %

The six-month profit hike was spurred by a 2% year-on-year (YoY) rise in topline, as the company generated revenues of SAR 314.5 million from land sales in H1 2025, compared to nil in the first half of 2024.

 

The first-half gross profit margins also expanded to 31.5% on a 7% YoY decline in the cost of sales amid lower costs of real estate sales.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 276.91 424.62 53.3 %
Gross Income 95.93 134.64 40.3 %
Operating Income 77.59 110.89 42.9 %
Net Income 54.15 110.31 103.7 %
Average Shares 300.00 300.00 -
Earnings Per Share before unusual items (Riyal) 0.18 0.37 103.7 %
EPS (Riyal) 0.18 0.37 103.7 %

In Q2 2025, net profits grew by 103.7% to SAR 110.3 million, from SAR 54.15 million in the corresponding period of 2024.

 

On a quarterly basis, the three-month bottomline added 8.2% from SAR 101.91 million in Q1 2025.

 

Total shareholders’ equity, after minority interest, reached SAR 1.10 billion as of June 30, 2025, up from SAR 731.24 million a year earlier.

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