Financial Results : Miahona Q1 2025 profit surges 209% to SAR 61.8M

Miahona Q1 2025 profit surges 209% to SAR 61.8M

14/05/2025 Argaam Exclusive

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Miahona Co. posted a 209% year-on-year (YoY) surge in its Q1 2025 net profit to SAR 61.8 million from SAR 20 million.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 81.60 175.20 114.7 %
Gross Income 20.80 61.80 197.1 %
Operating Income 23.10 65.90 185.3 %
Net Income 20.00 61.80 209.0 %
Average Shares 160.93 160.93 -
Earnings Per Share before unusual items (Riyals) 0.12 0.38 209.0 %
EPS (Riyals) 0.12 0.38 209.0 %

The strong profit growth was buoyed by an increase in consolidated revenues during the three-month period, due to higher construction revenues and project development revenues related to a new project.

 

The company also cited a rise in other income and financing income.

 

However, Miahona reported higher cost of revenues and a rise in general and administrative expenses during the first three months of this year.

 

Sequentially, the company turned to earnings from losses of SAR 3.80 million in Q4 2024, spurred by robust consolidated revenues.

 

Shareholders' equity, after minority interest, soared to SAR 495.5 million by the end of Q1 2025, compared to SAR 411.5 million in the same period a year earlier.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 - - - - - -
Q2 2021 - - - - - -
Q3 2021 - - - - - -
Q4 2021 - - - - - -
Q1 2022 - - - - - -
Q2 2022 - - - - - -
Q3 2022 76.80 - 22.89 - 16.92 -
Q4 2022 68.00 - 25.72 - 15.13 -
Q1 2023 65.07 - 18.31 - 10.27 -
Q2 2023 84.55 - 32.34 - 20.14 -
Q3 2023 76.00 (1.0 %) 28.89 26.2 % 21.42 26.6 %
Q4 2023 98.85 45.4 % 11.34 (55.9 %) 17.96 18.7 %
Q1 2024 81.60 25.4 % 20.80 13.6 % 23.10 125.0 %
Q2 2024 70.24 (16.9 %) 19.13 (40.8 %) 7.52 (62.7 %)
Q3 2024 88.48 16.4 % 24.57 (14.9 %) 13.73 (35.9 %)
Q4 2024 137.01 38.6 % 28.30 149.5 % 2.80 (84.4 %)
Q1 2025 175.20 114.7 % 61.80 197.1 % 65.90 185.3 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 - - - - - -
Q2 2019 - - - - - -
Q3 2019 - - - - - -
Q4 2019 - - - - - -
Q1 2020 - - - - - -
Q2 2020 - - - - - -
Q3 2020 - - - - - -
Q4 2020 - - - - - -
Q1 2021 - - - - - -
Q2 2021 - - - - - -
Q3 2021 - - - - - -
Q4 2021 - - - - - -
Q1 2022 - - - - - -
Q2 2022 - - - - - -
Q3 2022 14.31 - 0.09 - 14.31 0.09
Q4 2022 14.98 - 0.09 - 14.98 0.09
Q1 2023 8.09 - 0.05 - 8.09 0.05
Q2 2023 16.95 - 0.11 - 16.95 0.11
Q3 2023 18.88 31.9 % 0.12 - 18.88 0.12
Q4 2023 12.80 (14.6 %) 0.08 - 12.80 0.08
Q1 2024 20.00 147.1 % 0.12 - 20.00 0.12
Q2 2024 7.93 (53.2 %) 0.05 - 7.93 0.05
Q3 2024 16.54 (12.4 %) 0.10 - 16.54 0.10
Q4 2024 (3.80) (129.7 %) (0.02) - (3.80) (0.02)
Q1 2025 61.80 209.0 % 0.38 - 61.80 0.38

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 33.71 % - 18.45 %
Q3 2023 35.85 % 37.74 % 20.06 %
Q4 2023 28.01 % 35.29 % 17.48 %
Q1 2024 27.38 % 37.65 % 20.12 %
Q2 2024 24.54 % 36.07 % 18.24 %
Q3 2024 22.36 % 32.97 % 16.88 %
Q4 2024 24.59 % 25.82 % 10.78 %
2024 24.09 % 27.11 % 10.58 %
Q1 2025 28.41 % - 17.51 %


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 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 - - - -
Q1 2021 - - - -
Q2 2021 - - - -
Q3 2021 - - - -
Q4 2021 - - - -
Q1 2022 - - - -
Q2 2022 - - - -
Q3 2022 160.93 - - 2.16
Q4 2022 160.93 - - 2.13
Q1 2023 160.93 - - -
Q2 2023 160.93 0.34 0.34 2.28
Q3 2023 160.93 0.37 0.37 2.40
Q4 2023 160.93 0.35 0.35 2.44
Q1 2024 160.93 0.43 0.43 2.56
Q2 2024 160.93 0.37 0.37 2.63
Q3 2024 160.93 0.36 0.36 2.63
Q4 2024 160.93 0.25 0.25 2.75
Q1 2025 160.93 0.51 0.51 3.08

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 - - -
Q3 2023 - - -
Q4 2023 - - -
Q1 2024 - - -
Q2 2024 76.82 76.82 10.83
Q3 2024 85.16 85.16 11.52
Q4 2024 More than 100 More than 100 10.09
Q1 2025 41.33 41.33 6.88

Business Segments (Million)

Compared With The
Period Revenue recognized under service concession arrangements Management and engineering services Operation and maintenance revenue
Q1 2023 54.59 1.20 9.28
Q2 2023 78.52 0.89 5.14
Q3 2023 71.64 0.03 4.34
Q1 2024 69.44 7.67 4.50
Q2 2024 67.62 0.02 2.60
Q3 2024 86.08 - 2.40
Q4 2024 134.76 - 2.25

Analysts Estimates (Million)

Item Profit (Expected) Profit (Actual) Change‬
Average 24.50 61.80 60.36 %

Estimates vs Actual (Million)

Item Profit (Expected) Profit (Actual) Change‬
GIB Capital 33.00 61.80 46.6 %
Al Rajhi Capital 16.00 61.80 74.1 %

Current
Market Cap (M Riyal) 4,000.72
Enterprise Value (EV) (M) 4,281.37
Shares Outstanding ((M)) 160.93
EPS ( Riyal) (TTM) 0.51
Book Value (BV) ( Riyal) 3.08
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 48.52
P/E (TTM) 48.52
Price/book 8.07
Return on Average Assets (%) (TTM) 7.1
Return on Average Equity (%) (TTM) 18.2

Share Price

24.86
2.26 10.00 %

Miahona Co. (MIAHONA)


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