Riyadh Development profit up 9% to SAR 296.2M in 2024; Q4 at SAR 89.6M

25/02/2025 Argaam Exclusive

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Riyadh Development Co. posted a net profit of SAR 296.2 million in 2024, up 9% year-on-year (YoY) from SAR 271.5 million in 2023.

Financials (M)

Item	2023	2024	Change‬
Revenues	339.19	321.52	(5.2 %)
Gross Income	216.21	199.95	(7.5 %)
Operating Income	147.11	126.89	(13.7 %)
Net Income	271.54	296.20	9.1 %
Average Shares	177.78	177.78	-
Earnings Per Share before unusual items (Riyals)	1.53	1.62	6.0 %
EPS (Riyal)	1.53	1.67	9.1 %

The profit increase was driven by a SAR 24 million increase in revenue from centers and markets to SAR 322 million.

However, revenue fell by 5.2%, as the results of the previous year included revenues from the sale of some of the company’s unutilized land at a value of SAR 41 million.

Additionally, the company’s share in the associate company “Tanal” grew by SAR 27 million.

Meanwhile, Riyadh Development achieved profits of SAR 17 million from the in-kind contribution of Al-Tameer Center in Deera Investment and Real Estate Development.

The company reported a reversal of a potential liability provision by SAR 27 million and an increase in Murabaha deposit revenues by SAR 20 million.

These gains were achieved despite the absence of land sales in 2024, unlike the previous year. Meanwhile, the company incurred exceptional and non-recurring expenses, including SAR 12 million in financial and legal consultancy fees related to its capital increase project, SAR 10 million in provisions for potential lawsuits, and a SAR 10 million increase in Zakat expense provisions compared to the previous year.

In Q4 2024, the company’s net profit saw a decline of 40% to SAR 89.57 million from SAR 149.47 million in Q4 2023.

Net earnings surged 102.5% from SAR 44.23 million in Q3 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2023	Q4 2024	Change‬
Revenues	122.31	86.43	(29.3 %)
Gross Income	87.12	53.63	(38.4 %)
Operating Income	71.34	33.93	(52.4 %)
Net Income	149.47	89.57	(40.1 %)
Average Shares	177.78	177.78	-
Earnings Per Share before unusual items (Riyal)	0.84	0.53	(37.0 %)
EPS (Riyal)	0.84	0.50	(40.1 %)

Item	Q3 2024	Q4 2024	Change‬
Revenues	79.62	86.43	8.5 %
Gross Income	46.34	53.63	15.7 %
Operating Income	21.08	33.93	60.9 %
Net Income	44.23	89.57	102.5 %
Average Shares	177.78	177.78	-
Earnings Per Share before unusual items (Riyal)	0.25	0.53	108.7 %
EPS (Riyal)	0.25	0.50	102.5 %

Total shareholders’ equity, no minority interest, amounted to SAR 2.54 billion as of Dec. 31, 2024, compared to SAR 2.38 billion in the prior-year period.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	100.06	32.9 %	76.97	41.4 %	72.35	41.2 %
Q2 2015	99.63	49.4 %	76.78	53.5 %	72.05	53.3 %
Q3 2015	107.71	103.0 %	83.17	105.2 %	79.66	112.7 %
Q4 2015	117.91	109.6 %	96.57	121.7 %	93.30	130.7 %
2015	425.31	69.3 %	333.48	76.9 %	317.36	80.2 %
Q1 2016	73.13	(26.9 %)	57.99	(24.7 %)	53.82	(25.6 %)
Q2 2016	1,038.58	942.5 %	139.95	82.3 %	135.26	87.7 %
Q3 2016	59.17	(45.1 %)	46.08	(44.6 %)	42.20	(47.0 %)
Q4 2016	64.89	(45.0 %)	53.63	(44.5 %)	47.29	(49.3 %)
2016	1,235.76	190.6 %	297.65	(10.7 %)	278.57	(12.2 %)
Q1 2017	63.27	(13.5 %)	51.06	(12.0 %)	47.78	(11.2 %)
Q2 2017	67.11	(93.5 %)	54.32	(61.2 %)	50.81	(62.4 %)
Q3 2017	60.19	1.7 %	47.72	3.5 %	44.98	6.6 %
Q4 2017	123.52	90.4 %	94.75	76.7 %	91.57	93.6 %
2017	314.09	(74.6 %)	247.85	(16.7 %)	235.14	(15.6 %)
Q1 2018	71.73	13.4 %	54.66	7.0 %	51.26	7.3 %
Q2 2018	74.37	10.8 %	56.79	4.5 %	53.01	4.3 %
Q3 2018	71.04	18.0 %	53.57	12.3 %	50.13	11.5 %
Q4 2018	65.85	(46.7 %)	50.34	(46.9 %)	47.98	(47.6 %)
2018	282.99	(9.9 %)	215.36	(13.1 %)	202.58	(13.8 %)
Q1 2019	61.53	(14.2 %)	45.10	(17.5 %)	41.96	(18.2 %)
Q2 2019	64.30	(13.5 %)	47.63	(16.1 %)	44.52	(16.0 %)
Q3 2019	61.22	(13.8 %)	44.64	(16.7 %)	40.75	(18.7 %)
Q4 2019	62.66	(4.8 %)	47.46	(5.7 %)	27.61	(42.4 %)
2019	249.70	(11.8 %)	184.82	(14.2 %)	154.84	(23.6 %)
Q1 2020	57.04	(7.3 %)	40.29	(10.7 %)	35.40	(15.6 %)
Q2 2020	57.41	(10.7 %)	41.22	(13.5 %)	37.62	(15.5 %)
Q3 2020	59.74	(2.4 %)	43.56	(2.4 %)	39.46	(3.2 %)
Q4 2020	63.54	1.4 %	43.56	(8.2 %)	34.10	23.5 %
2020	237.73	(4.8 %)	168.62	(8.8 %)	146.58	(5.3 %)
Q1 2021	63.14	10.7 %	46.27	14.9 %	41.83	18.1 %
Q2 2021	63.01	9.8 %	45.07	9.4 %	38.30	1.8 %
Q3 2021	61.91	3.6 %	41.49	(4.8 %)	33.44	(15.2 %)
Q4 2021	62.85	(1.1 %)	40.00	(8.2 %)	22.23	(34.8 %)
2021	250.91	5.5 %	172.83	2.5 %	135.79	(7.4 %)
Q1 2022	61.11	(3.2 %)	40.09	(13.4 %)	32.21	(23.0 %)
Q2 2022	63.90	1.4 %	43.28	(4.0 %)	24.01	(37.3 %)
Q3 2022	63.71	2.9 %	40.65	(2.0 %)	21.83	(34.7 %)
Q4 2022	70.19	11.7 %	46.16	15.4 %	29.95	34.7 %
2022	258.90	3.2 %	170.19	(1.5 %)	108.00	(20.5 %)
Q1 2023	69.32	13.4 %	44.29	10.5 %	29.95	(7.0 %)
Q2 2023	69.57	8.9 %	40.09	(7.4 %)	19.07	(20.6 %)
Q3 2023	78.00	22.4 %	44.71	10.0 %	26.74	22.5 %
Q4 2023	122.31	74.3 %	87.12	88.7 %	71.34	138.2 %
2023	339.19	31.0 %	216.21	27.0 %	147.11	36.2 %
Q1 2024	78.43	13.2 %	51.09	15.3 %	37.24	24.3 %
Q2 2024	77.04	10.7 %	48.89	22.0 %	34.64	81.6 %
Q3 2024	79.62	2.1 %	46.34	3.7 %	21.08	(21.2 %)
Q4 2024	86.43	(29.3 %)	53.63	(38.4 %)	33.93	(52.4 %)
2024	321.52	(5.2 %)	199.95	(7.5 %)	126.89	(13.7 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2015	425.31	69.3 %	333.48	76.9 %	317.36	80.2 %
2016	1,235.76	190.6 %	297.65	(10.7 %)	278.57	(12.2 %)
2017	314.09	(74.6 %)	247.85	(16.7 %)	235.14	(15.6 %)
2018	282.99	(9.9 %)	215.36	(13.1 %)	202.58	(13.8 %)
2019	249.70	(11.8 %)	184.82	(14.2 %)	154.84	(23.6 %)
2020	237.73	(4.8 %)	168.62	(8.8 %)	146.58	(5.3 %)
2021	250.91	5.5 %	172.83	2.5 %	135.79	(7.4 %)
2022	258.90	3.2 %	170.19	(1.5 %)	108.00	(20.5 %)
2023	339.19	31.0 %	216.21	27.0 %	147.11	36.2 %
2024	321.52	(5.2 %)	199.95	(7.5 %)	126.89	(13.7 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
Q1 2015	71.19	38.4 %	0.40	-	71.19	0.40
Q2 2015	70.80	50.5 %	0.40	-	70.80	0.40
Q3 2015	67.91	81.2 %	0.38	(10.37)	78.29	0.44
Q4 2015	84.52	58.2 %	0.48	(8.09)	92.61	0.52
2015	294.43	55.5 %	1.66	(18.46)	312.89	1.76
Q1 2016	54.15	(23.9 %)	0.30	-	54.15	0.30
Q2 2016	132.80	87.6 %	0.75	-	132.80	0.75
Q3 2016	36.65	(46.0 %)	0.21	-	36.65	0.21
Q4 2016	37.64	(55.5 %)	0.21	-	37.64	0.21
2016	261.23	(11.3 %)	1.47	-	261.23	1.47
Q1 2017	43.29	(20.1 %)	0.24	-	43.29	0.24
Q2 2017	45.95	(65.4 %)	0.26	-	45.95	0.26
Q3 2017	45.64	24.5 %	0.26	-	45.64	0.26
Q4 2017	88.00	133.8 %	0.49	-	88.00	0.49
2017	222.34	(14.9 %)	1.25	-	222.34	1.25
Q1 2018	51.41	18.8 %	0.29	-	51.41	0.29
Q2 2018	53.12	15.6 %	0.30	-	53.12	0.30
Q3 2018	50.82	11.3 %	0.29	-	50.82	0.29
Q4 2018	48.38	(45.0 %)	0.27	-	48.38	0.27
2018	203.93	(8.3 %)	1.15	-	203.93	1.15
Q1 2019	42.84	(16.7 %)	0.24	-	42.84	0.24
Q2 2019	50.04	(5.8 %)	0.28	5.63	44.41	0.25
Q3 2019	40.90	(19.5 %)	0.23	-	40.90	0.23
Q4 2019	9.16	(81.1 %)	0.05	(17.82)	26.98	0.15
2019	142.94	(29.9 %)	0.80	(12.19)	155.13	0.87
Q1 2020	35.14	(18.0 %)	0.20	-	35.14	0.20
Q2 2020	54.56	9.0 %	0.31	-	54.56	0.31
Q3 2020	55.09	34.7 %	0.31	-	55.09	0.31
Q4 2020	83.14	808.0 %	0.47	-	83.14	0.47
2020	227.93	59.5 %	1.28	-	227.93	1.28
Q1 2021	111.03	216.0 %	0.62	-	111.03	0.62
Q2 2021	143.41	162.9 %	0.81	-	143.41	0.81
Q3 2021	70.79	28.5 %	0.40	-	70.79	0.40
Q4 2021	(6.93)	(108.3 %)	(0.04)	(37.27)	30.34	0.17
2021	318.31	39.7 %	1.79	(37.27)	355.58	2.00
Q1 2022	138.91	25.1 %	0.78	-	138.91	0.78
Q2 2022	57.40	(60.0 %)	0.32	-	57.40	0.32
Q3 2022	65.42	(7.6 %)	0.37	-	65.42	0.37
Q4 2022	38.63	657.8 %	0.22	(4.51)	43.14	0.24
2022	300.36	(5.6 %)	1.69	(4.51)	304.87	1.71
Q1 2023	32.39	(76.7 %)	0.18	-	32.39	0.18
Q2 2023	43.27	(24.6 %)	0.24	-	43.27	0.24
Q3 2023	46.41	(29.1 %)	0.26	-	46.41	0.26
Q4 2023	149.47	286.9 %	0.84	-	149.47	0.84
2023	271.54	(9.6 %)	1.53	-	271.54	1.53
Q1 2024	70.49	117.6 %	0.40	(12.05)	82.54	0.46
Q2 2024	91.92	112.4 %	0.52	25.87	66.04	0.37
Q3 2024	44.23	(4.7 %)	0.25	(0.91)	45.14	0.25
Q4 2024	89.57	(40.1 %)	0.50	(4.63)	94.19	0.53
2024	296.20	9.1 %	1.67	8.28	287.92	1.62

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
2015	294.43	55.5 %	1.66	(18.46)	312.89	1.76
2016	261.23	(11.3 %)	1.47	-	261.23	1.47
2017	222.34	(14.9 %)	1.25	-	222.34	1.25
2018	203.93	(8.3 %)	1.15	-	203.93	1.15
2019	142.94	(29.9 %)	0.80	(12.19)	155.13	0.87
2020	227.93	59.5 %	1.28	-	227.93	1.28
2021	318.31	39.7 %	1.79	(37.27)	355.58	2.00
2022	300.36	(5.6 %)	1.69	(4.51)	304.87	1.71
2023	271.54	(9.6 %)	1.53	-	271.54	1.53
2024	296.20	9.1 %	1.67	8.28	287.92	1.62

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	76.46 %	78.60 %	75.76 %
Q2 2015	76.97 %	78.34 %	75.37 %
Q3 2015	77.13 %	78.18 %	75.27 %
Q4 2015	78.41 %	79.29 %	73.57 %
2015	78.41 %	79.29 %	73.57 %
Q1 2016	78.94 %	80.03 %	74.26 %
Q2 2016	28.24 %	28.58 %	26.76 %
Q3 2016	26.43 %	26.75 %	24.54 %
Q4 2016	24.09 %	24.18 %	21.14 %
2016	24.09 %	24.18 %	21.14 %
Q1 2017	23.71 %	23.88 %	20.42 %
Q2 2017	80.60 %	81.97 %	64.27 %
Q3 2017	80.92 %	82.74 %	67.53 %
Q4 2017	78.91 %	83.93 %	70.96 %
2017	78.91 %	83.93 %	70.79 %
Q1 2018	77.95 %	83.49 %	71.62 %
Q2 2018	76.99 %	82.92 %	72.21 %
Q3 2018	76.25 %	82.75 %	71.43 %
Q4 2018	76.10 %	81.81 %	71.99 %
2018	76.10 %	81.88 %	72.06 %
Q1 2019	75.45 %	81.87 %	71.55 %
Q2 2019	74.85 %	82.18 %	70.97 %
Q3 2019	74.22 %	81.66 %	69.80 %
Q4 2019	74.02 %	74.95 %	62.13 %
2019	74.02 %	74.95 %	62.13 %
Q1 2020	73.41 %	73.83 %	60.12 %
Q2 2020	72.84 %	73.33 %	66.12 %
Q3 2020	72.84 %	73.16 %	72.52 %
Q4 2020	70.93 %	77.27 %	95.87 %
2020	70.93 %	77.27 %	95.88 %
Q1 2021	71.61 %	77.87 %	124.60 %
Q2 2021	71.55 %	76.26 %	157.42 %
Q3 2021	70.11 %	73.39 %	162.31 %
Q4 2021	68.88 %	67.87 %	141.71 %
2021	68.88 %	67.87 %	141.71 %
Q1 2022	66.96 %	64.84 %	154.08 %
Q2 2022	66.01 %	59.20 %	119.09 %
Q3 2022	65.20 %	54.46 %	116.11 %
Q4 2022	65.73 %	56.54 %	117.76 %
2022	65.73 %	56.54 %	117.76 %
Q1 2023	65.29 %	54.45 %	74.26 %
Q2 2023	62.76 %	51.95 %	67.53 %
Q3 2023	61.05 %	51.56 %	57.55 %
Q4 2023	63.74 %	56.00 %	80.05 %
2023	63.74 %	56.01 %	80.06 %
Q1 2024	64.02 %	56.73 %	92.36 %
Q2 2024	65.16 %	60.05 %	96.82 %
Q3 2024	65.32 %	58.38 %	96.02 %
Q4 2024	62.19 %	53.31 %	89.55 %
2024	62.19 %	53.31 %	89.55 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2015	78.41 %	79.29 %	73.57 %
2016	24.09 %	24.18 %	21.14 %
2017	78.91 %	83.93 %	70.79 %
2018	76.10 %	81.88 %	72.06 %
2019	74.02 %	74.95 %	62.13 %
2020	70.93 %	77.27 %	95.88 %
2021	68.88 %	67.87 %	141.71 %
2022	65.73 %	56.54 %	117.76 %
2023	63.74 %	56.01 %	80.06 %
2024	62.19 %	53.31 %	89.55 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	76.93 %	77.24 %	71.15 %
Q2 2015	77.06 %	77.29 %	71.06 %
Q3 2015	77.21 %	78.56 %	72.68 %
Q4 2015	81.90 %	83.39 %	78.54 %
Q1 2016	79.30 %	80.51 %	74.04 %
Q2 2016	13.47 %	13.51 %	12.79 %
Q3 2016	77.89 %	79.88 %	61.95 %
Q4 2016	82.65 %	80.68 %	58.01 %
Q1 2017	80.69 %	83.51 %	68.41 %
Q2 2017	80.94 %	83.61 %	68.47 %
Q3 2017	79.28 %	83.20 %	75.83 %
Q4 2017	76.71 %	84.68 %	71.24 %
Q1 2018	76.19 %	81.59 %	71.66 %
Q2 2018	76.37 %	81.07 %	71.43 %
Q3 2018	75.41 %	82.33 %	71.53 %
Q4 2018	76.45 %	82.33 %	73.47 %
Q1 2019	73.31 %	81.80 %	69.64 %
Q2 2019	74.07 %	82.22 %	69.06 %
Q3 2019	72.91 %	80.22 %	66.81 %
Q4 2019	75.74 %	55.60 %	43.06 %
Q1 2020	70.63 %	77.55 %	61.60 %
Q2 2020	71.80 %	81.12 %	95.04 %
Q3 2020	72.91 %	79.75 %	92.22 %
Q4 2020	68.55 %	71.22 %	130.84 %
Q1 2021	73.28 %	79.83 %	175.84 %
Q2 2021	71.53 %	74.45 %	227.60 %
Q3 2021	67.01 %	67.98 %	114.34 %
Q4 2021	63.65 %	49.16 %	48.28 %
Q1 2022	65.60 %	67.88 %	227.32 %
Q2 2022	67.74 %	52.27 %	89.83 %
Q3 2022	63.81 %	49.01 %	102.70 %
Q4 2022	65.77 %	57.39 %	61.46 %
Q1 2023	63.90 %	58.46 %	46.72 %
Q2 2023	57.62 %	42.66 %	62.20 %
Q3 2023	57.32 %	48.10 %	59.50 %
Q4 2023	71.23 %	67.24 %	122.20 %
Q1 2024	65.14 %	61.42 %	105.24 %
Q2 2024	63.47 %	59.32 %	85.73 %
Q3 2024	58.20 %	40.85 %	56.69 %
Q4 2024	62.05 %	52.06 %	108.99 %

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	177.78	1.18	1.18	10.02
Q2 2015	177.78	1.31	1.31	9.67
Q3 2015	177.78	1.48	1.54	10.07
Q4 2015	177.78	1.66	1.76	10.56
Q1 2016	177.78	1.56	1.66	10.84
Q2 2016	177.78	1.91	2.01	10.61
Q3 2016	177.78	1.73	1.78	10.42
Q4 2016	177.78	1.47	1.47	10.66
Q1 2017	177.78	1.41	1.41	10.90
Q2 2017	177.78	0.92	0.92	10.47
Q3 2017	177.78	0.97	0.97	10.43
Q4 2017	177.78	1.25	1.25	11.05
Q1 2018	177.78	1.30	1.30	11.29
Q2 2018	177.78	1.34	1.34	10.93
Q3 2018	177.78	1.37	1.37	10.66
Q4 2018	177.78	1.15	1.15	11.63
Q1 2019	177.78	1.10	1.10	11.92
Q2 2019	177.78	1.08	1.05	11.57
Q3 2019	177.78	1.02	0.99	11.39
Q4 2019	177.78	0.80	0.87	10.84
Q1 2020	177.78	0.76	0.83	11.13
Q2 2020	177.78	0.79	0.89	10.93
Q3 2020	177.78	0.87	0.97	11.26
Q4 2020	177.78	1.28	1.28	11.14
Q1 2021	177.78	1.71	1.71	11.81
Q2 2021	177.78	2.21	2.21	11.99
Q3 2021	177.78	2.30	2.30	11.43
Q4 2021	177.78	1.79	2.00	11.37
Q1 2022	177.78	1.95	2.16	12.20
Q2 2022	177.78	1.46	1.67	12.02
Q3 2022	177.78	1.43	1.64	12.14
Q4 2022	177.78	1.69	1.71	12.36
Q1 2023	177.78	1.09	1.12	12.54
Q2 2023	177.78	1.01	1.04	12.54
Q3 2023	177.78	0.90	0.93	12.55
Q4 2023	177.78	1.53	1.53	13.39
Q1 2024	177.78	1.74	1.81	13.79
Q2 2024	177.78	2.02	1.94	13.81
Q3 2024	177.78	2.00	1.93	13.80
Q4 2024	177.78	1.67	1.62	14.31

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2015	177.78	1.66	1.76	10.56
2016	177.78	1.47	1.47	10.66
2017	177.78	1.25	1.25	11.05
2018	177.78	1.15	1.15	11.63
2019	177.78	0.80	0.87	10.84
2020	177.78	1.28	1.28	11.14
2021	177.78	1.79	2.00	11.37
2022	177.78	1.69	1.71	12.36
2023	177.78	1.53	1.53	13.39
2024	177.78	1.67	1.62	14.31

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Recurring P/E	Price/book
Q1 2015	17.98	17.98	2.11
Q2 2015	16.06	16.06	2.17
Q3 2015	11.77	11.32	1.73
Q4 2015	10.92	10.27	1.71
Q1 2016	12.95	12.15	1.86
Q2 2016	10.50	9.96	1.89
Q3 2016	10.80	10.53	1.80
Q4 2016	15.28	15.28	2.11
Q1 2017	15.03	15.03	1.94
Q2 2017	21.17	21.17	1.86
Q3 2017	18.40	18.40	1.71
Q4 2017	14.69	14.69	1.67
Q1 2018	15.15	15.15	1.74
Q2 2018	13.13	13.13	1.61
Q3 2018	11.56	11.56	1.48
Q4 2018	15.11	15.11	1.49
Q1 2019	18.88	18.88	1.74
Q2 2019	18.15	18.69	1.69
Q3 2019	19.34	19.96	1.74
Q4 2019	24.55	22.62	1.82
Q1 2020	23.35	21.42	1.60
Q2 2020	24.71	21.91	1.78
Q3 2020	25.44	22.80	1.96
Q4 2020	17.63	17.63	2.03
Q1 2021	16.80	16.80	2.43
Q2 2021	14.58	14.58	2.69
Q3 2021	15.75	15.75	3.17
Q4 2021	18.67	16.71	2.94
Q1 2022	18.68	16.87	2.98
Q2 2022	20.25	17.71	2.47
Q3 2022	18.82	16.42	2.22
Q4 2022	14.08	13.87	1.92
Q1 2023	22.06	21.56	1.92
Q2 2023	26.24	25.60	2.12
Q3 2023	30.86	30.02	2.22
Q4 2023	18.19	18.19	2.08
Q1 2024	17.75	17.09	2.24
Q2 2024	14.05	14.61	2.05
Q3 2024	18.39	19.09	2.67
Q4 2024	26.54	27.30	3.09

Period	P/E	Recurring P/E	Price/book
2015	10.92	10.27	1.71
2016	15.28	15.28	2.11
2017	14.73	14.73	1.67
2018	15.10	15.10	1.49
2019	24.55	22.62	1.82
2020	17.63	17.63	2.03
2021	18.67	16.71	2.94
2022	14.08	13.87	1.92
2023	18.19	18.19	2.08
2024	26.54	27.30	3.09

Business Segments (Million)

Compared With The

Period	Commercial Centers Sector	Public utility sector	Sale of Land and Contributions Sector	Joint Assets and liabilities
Q1 2015	32.11	21.23	46.72	-
Q2 2015	37.08	22.28	40.26	-
Q3 2015	32.60	22.25	52.85	-
Q4 2015	34.87	26.60	56.43	-
Q1 2016	34.59	21.99	16.55	-
Q2 2016	40.39	22.56	975.63	-
Q3 2016	36.30	22.86	-	-
Q4 2016	41.57	23.32	-	-
Q1 2017	41.17	22.11	-	-
Q2 2017	44.61	22.51	-	-
Q3 2017	37.50	22.69	-	-
Q4 2017	40.05	47.36	36.11	-
Q1 2018	37.07	34.66	-	-
Q2 2018	39.02	35.34	-	-
Q3 2018	36.02	35.02	-	-
Q4 2018	36.10	29.75	-	-
Q1 2019	36.37	25.16	-	-
Q2 2019	38.40	25.90	-	-
Q3 2019	34.74	26.48	-	-
Q4 2019	36.06	26.60	-	-
Q1 2020	31.10	25.94	-	-
Q2 2020	30.70	26.71	-	-
Q3 2020	30.85	28.89	-	-
Q4 2020	34.11	29.43	-	-
Q1 2021	34.87	28.27	-	-
Q2 2021	33.64	29.37	-	-
Q3 2021	31.40	30.51	-	-
Q4 2021	33.31	29.54	-	-
Q1 2022	31.98	29.12	-	-
Q2 2022	34.99	28.90	-	-
Q3 2022	38.27	25.44	-	-
Q4 2022	40.13	30.06	-	-
Q1 2023	38.19	31.12	-	-
Q2 2023	39.20	30.37	-	-
Q3 2023	42.05	35.93	-	-
Q4 2023	43.07	37.89	41.36	-
Q1 2024	40.48	37.95	-	-
Q2 2024	39.59	37.45	-	-
Q3 2024	42.37	37.25	-	-
Q4 2024	41.63	39.13	5.67	-

Period	Commercial Centers Sector	Public utility sector	Sale of Land and Contributions Sector	Joint Assets and liabilities
2015	136.67	92.36	196.28	-
2016	152.85	90.73	992.18	-
2017	163.32	114.67	36.11	-
2018	148.22	134.77	-	-
2019	145.57	104.13	-	-
2020	126.76	110.97	-	-
2021	133.22	117.69	-	-
2022	145.38	113.52	-	-
2023	162.51	135.32	41.36	-
2024	164.07	151.78	5.67	-

Financial Ratios

	Current
Market Cap (M Riyal)	4,699.67
Enterprise Value (EV) (M Riyal)	3,593.69
Shares Outstanding ((M))	233.93
EPS ( Riyal) (TTM)	1.46
Book Value (BV) ( Riyal)	17.45
Par Value ( Riyal)	10.00
Recurring P/E	14.09
P/E (TTM)	13.78
Price/book	1.15
Return on Average Assets (%) (TTM)	9.4
Return on Average Equity (%) (TTM)	10.4
EV/adj EBITDA	14.30
EV/Revenues	9.06

Arriyadh Development Co. (ARDCO)

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Riyadh Development profit up 9% to SAR 296.2M in 2024; Q4 at SAR 89.6M

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Financials (M)

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Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

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Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q4

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Arriyadh Development Co. (ARDCO)

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Riyadh Development profit up 9% to SAR 296.2M in 2024; Q4 at SAR 89.6M

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q4 2024

Revenue by Business Segment (Latest) 2024 Q4

Financial Ratios

Share Price

Arriyadh Development Co. (ARDCO)

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Business Segments (Million)