Financial Results : MBC Group makes SAR 426.1M profit in 2024, SAR 175.6M in Q4 on stake sale

MBC Group makes SAR 426.1M profit in 2024, SAR 175.6M in Q4 on stake sale

27/03/2025 Argaam Exclusive

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MBC Group Co. reported a net profit surge to SAR 426.1 million (before minority interest) in 2024 from SAR 69.3 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 3,711.78 4,196.37 13.1 %
Gross Income 921.27 1,204.18 30.7 %
Operating Income (87.31) 117.22 234.3 %
Net Income 65.29 399.96 512.6 %
Average Shares 299.25 332.50 11.1 %
Earnings Per Share before unusual items (Riyals) 0.04 0.49 1232.6 %
EPS (Riyal) 0.22 1.20 451.4 %

The group cited a 13% rise year-on-year (YoY) in revenues to SAR 485 million, mainly due to an increase in revenues from the broadcasting and other commercial activities. This is in addition to an increase in SHAHID’s revenues, thanks to a rise in both advertising and subscription revenues.

 

The financial performance of SHAHID and broadcasting and other commercial activities segment improved, supported by increased revenues from broadcasting and technical services contacts.

 

The 2024 net profit includes SAR 171 million, representing the net investment gain on sale of a stake in an associate.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 1,062.72 1,239.67 16.7 %
Gross Income 298.27 312.77 4.9 %
Operating Income (41.84) (6.58) 84.3 %
Net Income 13.26 178.84 1248.4 %
Average Shares 299.25 332.50 11.1 %
Earnings Per Share before unusual items (Riyal) (0.01) (0.15) (2,449.7 %)
EPS (Riyal) 0.04 0.54 1113.6 %

The fourth-quarter net earnings saw a spike to reach SAR 175.6 million from SAR 16.9 million in Q4 2023 as MBC sold a stake in an associate.

 

In Q3 2024, MENA’s largest media company posted a net profit of SAR 9 million.

 

Shareholders’ equity, after minority interest, came in at SAR 4.17 billion as of Dec. 31, 2024, up from SAR 3.77 billion a year earlier.

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