Financial Results : Taiba H1 2025 net profit rises SAR 238.4M, SAR 107.1M in Q2 on provision reversals

Taiba H1 2025 net profit rises SAR 238.4M, SAR 107.1M in Q2 on provision reversals

05/08/2025 Argaam Exclusive

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Taiba Investments Co. reported a net profit of SAR 238.4 million for the first half 2025, compared to SAR 183.6 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 709.47 727.84 2.6 %
Gross Income 300.54 299.31 (0.4 %)
Operating Income 237.27 242.91 2.4 %
Net Income 183.64 238.44 29.8 %
Average Shares 260.46 260.46 -
Earnings Per Share before unusual items (Riyals) 0.71 0.73 4.0 %
EPS (Riyal) 0.71 0.92 29.8 %

The profit growth during the current period was ascribed to higher operating revenues on improved revenues across the company’s various segments.

 

In addition, it witnessed the reversal of a provision for legal cases that was created in 2023 related to the termination of a contractual agreement with one of the operators, as a result of a settlement between the two parties.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 377.40 370.01 (2.0 %)
Gross Income 148.98 125.21 (16.0 %)
Operating Income 114.52 93.58 (18.3 %)
Net Income 88.44 107.10 21.1 %
Average Shares 260.46 260.46 -
Earnings Per Share before unusual items (Riyal) 0.34 0.23 (32.5 %)
EPS (Riyal) 0.34 0.41 21.1 %

Net profit for Q2 2025 advanced by 21% year-on-year (YoY) to SAR 107.1 million.

 

However, on a quarterly basis, earnings retreated by 18.5%, compared to SAR 131.34 million in Q1 2025.

 

Total shareholders’ equity (excluding minority interest) stood at SAR 6.80 billion by June 30, 2025, compared to SAR 6.59 billion a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 118.12 (0.4 %) 69.94 (5.4 %) 52.71 (15.2 %)
Q2 2016 156.21 35.8 % 71.54 11.9 % 61.09 13.1 %
Q3 2016 138.80 1.7 % 85.27 2.9 % 74.94 5.3 %
Q4 2016 110.08 3.7 % 60.81 2.0 % 48.99 4.1 %
Q1 2017 106.19 (10.1 %) 63.20 (9.6 %) 50.97 (3.3 %)
Q2 2017 118.26 (24.3 %) 67.68 (5.4 %) 57.35 (6.1 %)
Q3 2017 131.40 (5.3 %) 82.10 (3.7 %) 65.12 (13.1 %)
Q4 2017 101.21 (8.1 %) 59.09 (2.8 %) 43.51 (11.2 %)
Q1 2018 102.26 (3.7 %) 60.96 (3.5 %) 49.69 (2.5 %)
Q2 2018 107.58 (9.0 %) 64.53 (4.6 %) 48.50 (15.4 %)
Q3 2018 134.57 2.4 % 86.06 4.8 % 73.91 13.5 %
Q4 2018 61.87 (38.9 %) 45.83 (22.4 %) 30.78 (29.3 %)
Q1 2019 94.53 (7.6 %) 51.74 (15.1 %) 38.05 (23.4 %)
Q2 2019 108.29 0.7 % 63.63 (1.4 %) 42.87 (11.6 %)
Q3 2019 137.53 2.2 % 85.44 (0.7 %) 72.32 (2.1 %)
Q4 2019 47.18 (23.7 %) 41.04 (10.4 %) 25.03 (18.7 %)
Q1 2020 85.00 (10.1 %) 53.64 3.7 % 42.47 11.6 %
Q2 2020 31.42 (71.0 %) 14.98 (76.5 %) 3.07 (92.8 %)
Q3 2020 61.39 (55.4 %) 37.91 (55.6 %) 26.85 (62.9 %)
Q4 2020 43.14 (8.6 %) 17.88 (56.4 %) 5.07 (79.8 %)
Q1 2021 33.68 (60.4 %) 15.15 (71.8 %) 1.15 (97.3 %)
Q2 2021 32.16 2.3 % 10.56 (29.5 %) (20.06) (753.0 %)
Q3 2021 29.93 (51.2 %) 10.45 (72.4 %) (30.19) (212.4 %)
Q4 2021 33.33 (22.7 %) 7.56 (57.7 %) (27.67) (645.8 %)
Q1 2022 52.55 56.0 % 22.07 45.6 % 20.66 1704.7 %
Q2 2022 81.17 152.4 % 46.71 342.4 % 49.41 346.4 %
Q3 2022 90.87 203.6 % 55.64 432.3 % 25.75 185.3 %
Q4 2022 103.94 211.9 % 64.58 754.3 % 46.23 267.1 %
Q1 2023 110.96 111.1 % 74.15 236.1 % 61.41 197.2 %
Q2 2023 131.12 61.5 % 91.84 96.6 % 77.00 55.8 %
Q3 2023 118.44 30.3 % 80.59 44.8 % 65.22 153.3 %
Q4 2023 175.90 69.2 % 96.50 49.4 % 80.78 74.7 %
Q1 2024 332.07 199.3 % 151.56 104.4 % 122.75 99.9 %
Q2 2024 377.40 187.8 % 148.98 62.2 % 114.52 48.7 %
Q3 2024 268.52 126.7 % 95.73 18.8 % 84.09 28.9 %
Q4 2024 337.29 91.8 % 162.31 68.2 % 126.08 56.1 %
Q1 2025 357.82 7.8 % 174.11 14.9 % 149.33 21.6 %
Q2 2025 370.01 (2.0 %) 125.21 (16.0 %) 93.58 (18.3 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2016 49.22 (75.7 %) 0.33 - 49.22 0.33
Q2 2016 68.02 19.3 % 0.45 - 68.02 0.45
Q3 2016 74.98 (26.6 %) 0.50 - 74.98 0.50
Q4 2016 54.95 (27.2 %) 0.37 - 54.95 0.37
Q1 2017 52.53 6.7 % 0.35 - 52.53 0.35
Q2 2017 49.18 (27.7 %) 0.33 - 49.18 0.33
Q3 2017 61.99 (17.3 %) 0.41 - 61.99 0.41
Q4 2017 (17.67) (132.1 %) (0.12) - (17.67) (0.12)
Q1 2018 27.21 (48.2 %) 0.18 (4.00) 31.21 0.21
Q2 2018 46.48 (5.5 %) 0.31 - 46.48 0.31
Q3 2018 60.11 (3.0 %) 0.40 (4.07) 64.18 0.43
Q4 2018 (69.45) (293.1 %) (0.46) (67.95) (1.50) (0.01)
Q1 2019 31.29 15.0 % 0.20 - 31.29 0.20
Q2 2019 49.24 5.9 % 0.31 - 49.24 0.31
Q3 2019 67.85 12.9 % 0.43 - 67.85 0.43
Q4 2019 23.48 133.8 % 0.15 - 23.05 0.15
Q1 2020 50.57 61.6 % 0.32 7.73 42.84 0.27
Q2 2020 79.82 62.1 % 0.50 59.87 19.95 0.12
Q3 2020 (23.48) (134.6 %) (0.15) (43.36) 19.88 0.12
Q4 2020 (8.13) (134.6 %) (0.05) 0.07 (8.21) (0.05)
Q1 2021 (1.91) (103.8 %) (0.01) - (1.91) (0.01)
Q2 2021 (12.88) (116.1 %) (0.08) - (12.88) (0.08)
Q3 2021 (38.38) (63.5 %) (0.24) - (38.38) (0.24)
Q4 2021 (64.12) (688.3 %) (0.40) - (64.12) (0.40)
Q1 2022 20.35 1165.9 % 0.13 3.26 17.09 0.11
Q2 2022 34.50 367.8 % 0.21 (16.01) 50.50 0.31
Q3 2022 42.79 211.5 % 0.27 3.20 39.59 0.25
Q4 2022 41.94 165.4 % 0.26 3.00 38.94 0.24
Q1 2023 62.06 205.0 % 0.33 - 62.06 0.33
Q2 2023 27.56 (20.1 %) 0.15 (24.90) 52.47 0.28
Q3 2023 53.89 25.9 % 0.29 (10.71) 64.59 0.35
Q4 2023 (34.35) (181.9 %) (0.19) (108.97) 74.62 0.40
Q1 2024 96.13 54.9 % 0.37 - 96.13 0.37
Q2 2024 88.44 220.9 % 0.34 - 88.44 0.34
Q3 2024 59.26 10.0 % 0.23 - 59.26 0.23
Q4 2024 90.10 362.3 % 0.35 34.97 55.12 0.21
Q1 2025 131.34 36.6 % 0.50 - 131.34 0.50
Q2 2025 107.10 21.1 % 0.41 47.40 59.70 0.23

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2016 58.10 % 55.83 % 59.09 %
Q2 2016 54.93 % 52.81 % 57.05 %
Q3 2016 55.15 % 53.30 % 51.56 %
Q4 2016 54.96 % 52.77 % 47.24 %
Q1 2017 54.92 % 53.82 % 48.99 %
Q2 2017 58.51 % 57.27 % 48.94 %
Q3 2017 58.76 % 55.99 % 46.93 %
Q4 2017 59.52 % 56.18 % 31.95 %
Q1 2018 59.55 % 56.16 % 27.52 %
Q2 2018 60.27 % 55.30 % 27.58 %
Q3 2018 60.73 % 56.89 % 27.87 %
Q4 2018 63.35 % 59.02 % 34.55 %
Q1 2019 62.27 % 56.89 % 35.24 %
Q2 2019 61.93 % 54.76 % 35.87 %
Q3 2019 61.32 % 53.33 % 36.52 %
Q4 2019 62.41 % 53.77 % 44.24 %
Q1 2020 64.48 % 56.20 % 48.41 %
Q2 2020 64.79 % 57.52 % 51.04 %
Q3 2020 65.59 % 57.17 % 46.99 %
Q4 2020 56.30 % 48.85 % 33.70 %
Q1 2021 50.65 % 38.63 % 17.52 %
Q2 2021 47.84 % 25.14 % (1.83 %)
Q3 2021 38.90 % (11.80 %) (44.19 %)
Q4 2021 33.87 % (39.36 %) (90.86 %)
Q1 2022 34.22 % (20.83 %) (66.43 %)
Q2 2022 44.06 % 19.32 % (17.72 %)
Q3 2022 51.16 % 36.70 % 16.69 %
Q4 2022 57.52 % 52.14 % 44.48 %
Q1 2023 62.30 % 55.04 % 49.39 %
Q2 2023 65.51 % 55.44 % 44.19 %
Q3 2023 67.00 % 61.30 % 46.95 %
Q4 2023 63.96 % 61.76 % 47.30 %
Q1 2024 55.51 % 56.24 % 37.99 %
Q2 2024 47.58 % 49.39 % 32.26 %
Q3 2024 42.70 % 47.23 % 27.60 %
Q4 2024 42.47 % 46.40 % 22.73 %
2024 42.47 % 46.40 % 22.71 %
Q1 2025 43.33 % 47.28 % 24.92 %
Q2 2025 41.79 % 45.97 % 22.90 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2016 150.00 1.89 1.87 24.02
Q2 2016 150.00 1.97 1.97 23.59
Q3 2016 150.00 1.78 1.78 23.91
Q4 2016 150.00 1.65 1.65 25.37
Q1 2017 150.00 1.67 1.67 25.53
Q2 2017 150.00 1.54 1.54 24.74
Q3 2017 150.00 1.46 1.46 24.08
Q4 2017 150.00 0.97 0.97 23.90
Q1 2018 150.00 0.80 0.83 24.30
Q2 2018 150.00 0.79 0.81 24.13
Q3 2018 150.00 0.77 0.83 25.11
Q4 2018 150.00 0.43 0.94 23.86
Q1 2019 157.84 0.43 0.89 23.77
Q2 2019 157.84 0.45 0.91 23.72
Q3 2019 157.84 0.50 0.93 23.31
Q4 2019 157.84 1.09 1.09 22.92
Q1 2020 160.46 1.19 1.14 21.70
Q2 2020 160.46 1.38 0.96 22.93
Q3 2020 160.46 0.81 0.66 23.06
Q4 2020 160.46 0.62 0.46 22.78
Q1 2021 160.46 0.29 0.19 23.69
Q2 2021 160.46 (0.29) (0.02) 25.20
Q3 2021 160.46 (0.38) (0.38) 26.98
Q4 2021 160.46 (0.73) (0.73) 22.47
Q1 2022 160.46 (0.59) (0.61) 22.87
Q2 2022 160.46 (0.30) (0.22) 22.38
Q3 2022 160.46 0.21 0.27 22.75
Q4 2022 160.46 0.87 0.91 22.63
Q1 2023 185.46 0.98 1.03 23.63
Q2 2023 185.46 0.94 1.04 24.03
Q3 2023 185.46 1.00 1.18 24.51
Q4 2023 185.46 0.59 1.37 25.18
Q1 2024 260.46 0.55 1.11 26.09
Q2 2024 260.46 0.78 1.24 25.31
Q3 2024 260.46 0.80 1.22 25.74
Q4 2024 260.46 1.28 1.15 26.29
Q1 2025 260.46 1.42 1.28 26.73
Q2 2025 260.46 1.49 1.17 26.14

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2016 30.91 31.22 2.44
Q2 2016 29.33 29.33 2.44
Q3 2016 33.63 33.63 2.51
Q4 2016 42.34 42.34 2.75
Q1 2017 46.14 46.14 3.02
Q2 2017 47.64 47.64 2.97
Q3 2017 49.66 49.66 3.01
Q4 2017 62.03 62.03 2.53
Q1 2018 66.85 64.70 2.21
Q2 2018 69.41 67.14 2.26
Q3 2018 64.70 60.50 1.99
Q4 2018 More than 100 56.41 2.21
Q1 2019 More than 100 53.22 2.10
Q2 2019 More than 100 51.47 1.94
Q3 2019 95.21 51.16 2.01
Q4 2019 47.21 47.33 2.21
Q1 2020 33.79 35.30 1.86
Q2 2020 33.95 48.98 2.05
Q3 2020 62.13 76.62 2.19
Q4 2020 79.64 More than 100 2.15
Q1 2021 More than 100 More than 100 2.11
Q2 2021 NEG NEG 2.14
Q3 2021 NEG NEG 2.08
Q4 2021 NEG NEG 2.30
Q1 2022 NEG NEG 2.29
Q2 2022 NEG NEG 2.02
Q3 2022 More than 100 More than 100 1.94
Q4 2022 46.39 44.31 1.78
Q1 2023 40.52 38.44 1.94
Q2 2023 45.26 40.88 2.05
Q3 2023 38.48 32.73 1.81
Q4 2023 63.83 27.46 1.06
Q1 2024 68.19 33.94 1.44
Q2 2024 57.30 36.12 1.77
Q3 2024 57.19 37.62 1.79
Q4 2024 32.06 35.81 1.56
Q1 2025 33.87 37.41 1.80
Q2 2025 26.72 33.92 1.52

Business Segments (Million)

Compared With The
Period hospitality Properties for development and sale Property management Adjustments Agricultural Activity Marketing Consultancy , Training & Information System
Q1 2016 13.64 96.46 - - 0.84 - -
Q2 2016 44.59 122.26 - (4.57) 1.11 - -
Q3 2016 14.38 127.34 - (3.29) 0.38 - -
Q4 2016 9.71 100.26 - - 0.10 - -
Q1 2017 7.25 96.93 - - 2.01 - -
Q2 2017 10.57 107.65 - (1.63) 1.67 - -
Q3 2017 11.79 118.72 - - 0.89 - -
Q4 2017 2.86 95.81 - - 0.91 - -
Q1 2018 28.88 63.66 13.16 (4.32) 0.88 - -
Q2 2018 32.36 65.61 13.86 (5.46) 1.21 - -
Q3 2018 56.10 68.50 13.62 (5.21) 1.57 - -
Q1 2019 31.48 52.33 14.71 (5.57) 1.57 - -
Q2 2019 37.94 54.98 19.03 (5.33) 1.67 - -
Q3 2019 69.11 53.66 20.59 (7.44) 1.60 - -
Q4 2019 28.01 55.24 (47.04) 9.63 1.33 - -
Q1 2020 27.21 56.84 1.16 (1.50) 1.29 - -
Q2 2020 1.77 29.01 0.18 0.05 0.41 - -
Q3 2020 9.81 51.07 0.21 (0.23) 0.53 - -
Q4 2020 7.43 37.76 - (0.80) 0.28 - -
Q1 2021 7.97 25.81 - - 0.58 - -
Q3 2021 10.27 19.67 - (0.01) - - -
Q4 2021 20.80 12.74 - (0.21) - - -
Q1 2022 39.66 13.88 - (0.98) - - -
Q2 2022 49.48 32.46 - (0.77) - - -
Q3 2022 52.18 38.69 - - - - -
Q4 2022 58.42 45.51 - - - - -
Q1 2023 66.78 44.18 - - - - -
Q2 2023 76.82 54.30 - - - - -
Q3 2023 68.00 50.44 - - - - -
Q4 2023 113.04 61.42 1.43 - - - -
Q1 2024 243.23 86.99 1.84 - - - -
Q2 2024 286.62 86.97 3.80 - - - -
Q3 2024 177.63 88.70 2.20 - - - -
Q1 2025 265.78 89.80 2.24 - - - -
Q2 2025 274.19 93.92 1.90 - - - -

Analysts Estimates (Million)

Item Profit (Expected) Profit (Actual) Change Profit Before Unusual Items Change
Average 122.00 107.10 59.70

Estimates vs Actual (Million)

Item Profit (Expected) Profit (Actual) Change‬ Profit Before Unusual Items Change‬
SNB Capital 122.00 107.10 59.70


Financial Ratios
Current
Market Cap (M Riyal) 9,558.89
Enterprise Value (EV) (M Riyal) 11,371.83
Shares Outstanding ((M)) 260.46
EPS ( Riyal) (TTM) 1.49
Book Value (BV) ( Riyal) 26.39
Par Value ( Riyal) 10.00
Recurring P/E 31.18
P/E (TTM) 24.58
Price/book 1.39
Return on Average Assets (%) (TTM) 3.9
Return on Average Equity (%) (TTM) 5.7
EV/adj EBITDA 19.44
EV/Revenues 8.48
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Share Price

Taiba Investments Co.
36.70
(0.32) (0.86 %)

Taiba Investments Co. (TAIBA)

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