Financial Results : Jabal Omar earns SAR 945.9M in Q1 2025 on land sale

Jabal Omar earns SAR 945.9M in Q1 2025 on land sale

11/05/2025 Argaam Exclusive

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Jabal Omar Development Co. posted a net profit of SAR 945.9 million in the first quarter of 2025, up from SAR 19 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 592.85 747.73 26.1 %
Gross Income 254.28 331.86 30.5 %
Operating Income 178.59 152.97 (14.3 %)
Net Income 19.02 945.94 4873.9 %
Average Shares 1,160.91 1,180.02 1.6 %
Earnings Per Share before unusual items (Riyals) 0.02 0.02 43.0 %
EPS (Riyals) 0.02 0.80 4793.3 %

The profit growth was primarily driven by other income amounting to SAR 918 million, resulting from the sale of a land plot.

 

Hotel revenues increased by 54%, and revenues from shopping malls rose by 41%, mainly due to improved occupancy rates and higher average rental prices for retail spaces.

 

Gross profit increased by SAR 78 million, primarily attributed to the rise in hotel revenues during the period.

 

Additionally, the company recorded investment gains at fair value through profit or loss totaling SAR 62 million.

 

On a sequential basis, net profit jumped from SAR 351.39 million in Q4 2024.

 

Total shareholders’ equity, excluding minority interest, rose to SAR 14.41 billion by the end of the current period, compared to SAR 12.74 billion a year earlier.

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