Financial Results : Saudi Cable earns SAR 48.8M in 2024, SAR 5.8M in Q4

Saudi Cable earns SAR 48.8M in 2024, SAR 5.8M in Q4

27/03/2025 Argaam Exclusive

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Saudi Cable Co. posted a net profit of SAR 48.8 million in 2024, leaping from SAR 17.8 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 30.68 44.08 43.7 %
Gross Income (68.16) (18.92) 72.2 %
Operating Income (83.82) (80.52) 3.9 %
Net Income 17.80 48.76 173.9 %
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyals) (1.31) 5.14 493.0 %
EPS (Riyal) 2.67 7.31 173.9 %

The cable producer cited higher sales volume due to increased market demand and improved customer acquisition.

 

The company's share of the profits of associate, Midal, amounted to SAR 127 million, leaping 90% compared with a year earlier.

 

The firm recorded SAR 66.27 million in net profit from continuing operations, which resulted from its share of profit from an associate.

 

It incurred SAR 17.51 million losses, mainly from discontinued activities, which resulting from its Turkish subsidiary.

 

In Q4 2024, the cable producer turned to a profit of SAR 5.8 million from losses of SAR 43.36 million in Q4 2023.

 

Sequentially, the company's Q4 2024 net earnings declined 66.3% from SAR 17.20 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 11.62 14.12 21.5 %
Operating Income (44.41) (24.71) 44.4 %
Net Income (43.36) 5.79 113.4 %
Average Shares 6.67 6.67 -
Earnings Per Share before unusual items (Riyal) (6.23) (1.30) 79.1 %
EPS (Riyal) (6.50) 0.87 113.4 %

Shareholders' equity, after minority interest, reached SAR 419.44 million by the end of 2024, compared with SAR 483.32 million a year earlier.

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 498.35 8.7 % 29.34 79.5 % (15.80) 61.0 %
Q2 2015 475.70 9.5 % 21.25 2127.6 % (16.63) 60.2 %
Q3 2015 491.63 24.6 % 14.82 1128.4 % (20.16) 64.2 %
Q4 2015 449.84 11.1 % (1.25) 93.5 % (49.48) 21.4 %
Q1 2016 386.66 (22.4 %) (13.77) (146.9 %) (60.06) (280.1 %)
Q2 2016 474.84 (0.2 %) 36.89 73.6 % (11.71) 29.6 %
Q3 2016 348.48 (29.1 %) 15.71 6.0 % (25.94) (28.7 %)
Q4 2016 354.57 (21.2 %) 9.61 870.6 % (34.93) 29.4 %
Q1 2017 340.07 (12.1 %) 11.72 185.1 % (22.05) 63.3 %
Q2 2017 351.41 (26.0 %) 10.05 (72.8 %) (26.91) (129.8 %)
Q3 2017 314.59 (9.7 %) 17.14 9.1 % (17.56) 32.3 %
Q4 2017 336.29 (5.2 %) 12.89 34.1 % (21.38) 38.8 %
Q1 2018 275.07 (19.1 %) 0.15 (98.8 %) (29.84) (35.3 %)
Q2 2018 252.03 (28.3 %) (3.24) (132.2 %) (23.75) 11.8 %
Q3 2018 178.97 (43.1 %) (22.05) (228.6 %) (49.19) (180.1 %)
Q4 2018 158.96 (52.7 %) (70.73) (648.8 %) (105.35) (392.8 %)
Q1 2019 102.46 (62.8 %) (9.00) (6304.1 %) (26.69) 10.6 %
Q2 2019 90.58 (64.1 %) (12.07) (273.0 %) (37.03) (55.9 %)
Q3 2019 81.63 (54.4 %) (1.66) 92.5 % (22.09) 55.1 %
Q4 2019 106.61 (32.9 %) (12.45) 82.4 % (21.60) 79.5 %
Q1 2020 59.53 (41.9 %) (17.31) (92.4 %) (37.95) (42.2 %)
Q2 2020 145.18 60.3 % (6.74) 44.2 % (25.14) 32.1 %
Q3 2020 92.61 13.5 % (13.28) (700.6 %) (42.76) (93.6 %)
Q4 2020 71.46 (33.0 %) (20.34) (63.4 %) (63.97) (196.1 %)
Q1 2021 63.86 7.3 % (17.26) 0.3 % (36.83) 2.9 %
Q2 2021 41.35 (71.5 %) (20.97) (211.1 %) (31.50) (25.3 %)
Q3 2021 23.50 (74.6 %) (24.22) (82.4 %) (43.24) (1.1 %)
Q4 2021 31.85 (55.4 %) (14.18) 30.3 % (32.64) 49.0 %
Q1 2022 35.36 (44.6 %) (26.74) (54.9 %) (42.07) (14.2 %)
Q2 2022 25.03 (39.5 %) (18.31) 12.7 % (36.06) (14.5 %)
Q3 2022 6.01 (74.4 %) (20.14) 16.9 % (28.12) 35.0 %
Q4 2022 6.41 (79.9 %) (31.23) (120.2 %) (118.06) (261.7 %)
Q1 2023 11.72 (66.9 %) (18.08) 32.4 % 4.32 110.3 %
Q2 2023 3.87 (84.5 %) (17.19) 6.1 % (21.74) 39.7 %
Q3 2023 3.47 (42.2 %) (15.76) 21.7 % (21.99) 21.8 %
Q4 2023 11.62 81.2 % (17.13) 45.1 % (44.41) 62.4 %
Q1 2024 12.57 7.3 % (10.60) 41.4 % (36.64) (948.8 %)
Q2 2024 10.12 161.2 % (8.96) 47.9 % (19.33) 11.1 %
Q3 2024 7.27 109.4 % (6.44) 59.2 % 0.16 100.7 %
Q4 2024 14.12 21.5 % - - (24.71) 44.4 %
2024 44.08 43.7 % (18.92) 72.2 % (80.52) 3.9 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
Q1 2015 (7.94) 80.7 % (1.90) - (7.94) (1.90)
Q2 2015 0.88 101.7 % 0.21 18.61 (17.73) (4.24)
Q3 2015 (2.85) 94.3 % (0.68) 21.45 (24.30) (5.81)
Q4 2015 11.60 119.4 % 2.78 62.39 (50.79) (12.15)
Q1 2016 (58.66) (638.6 %) (14.03) - (58.66) (14.03)
Q2 2016 (18.21) (2167.3 %) (4.36) - (18.21) (4.36)
Q3 2016 4.87 270.7 % 1.17 41.47 (36.60) (8.76)
Q4 2016 (154.30) (1430.0 %) (36.91) (111.93) (42.37) (10.14)
Q1 2017 (23.65) 59.7 % (5.66) - (23.65) (5.66)
Q2 2017 39.38 316.2 % 9.42 77.00 (37.62) (9.00)
Q3 2017 (34.49) (808.1 %) (8.25) - (34.49) (8.25)
Q4 2017 (61.54) 60.1 % (14.72) - (61.54) (14.72)
Q1 2018 (20.72) 12.4 % (4.96) 24.99 (45.70) (10.93)
Q2 2018 (97.24) (346.9 %) (23.26) - (97.24) (23.26)
Q3 2018 (15.71) 54.5 % (3.76) 47.56 (63.27) (15.14)
Q4 2018 70.72 214.9 % 16.92 203.56 (132.84) (31.78)
Q1 2019 (32.10) (54.9 %) (7.68) - (32.10) (7.68)
Q2 2019 (18.32) 81.2 % (4.38) - (18.32) (4.38)
Q3 2019 (23.79) (51.4 %) (5.69) - (23.79) (5.69)
Q4 2019 12.38 (82.5 %) 2.96 17.61 (5.23) (1.25)
Q1 2020 (43.20) (34.6 %) (6.47) - (43.20) (6.47)
Q2 2020 (16.58) 9.5 % (2.48) - (16.58) (2.48)
Q3 2020 51.41 316.1 % 7.70 89.74 (38.34) (5.75)
Q4 2020 (46.64) (476.9 %) (6.99) - (46.64) (6.99)
Q1 2021 (35.88) 16.9 % (5.38) - (35.88) (5.38)
Q2 2021 (19.19) (15.7 %) (2.88) - (19.19) (2.88)
Q3 2021 (46.56) (190.6 %) (6.98) - (46.56) (6.98)
Q4 2021 (92.68) (98.7 %) (13.89) - (92.68) (13.89)
Q1 2022 (37.16) (3.5 %) (5.57) - (37.16) (5.57)
Q2 2022 (44.49) (131.9 %) (6.67) - (44.49) (6.67)
Q3 2022 (34.93) 25.0 % (5.23) - (34.93) (5.23)
Q4 2022 (463.90) (400.5 %) (69.52) (67.09) (396.82) (59.47)
Q1 2023 40.90 210.1 % 6.13 41.01 (0.11) (0.02)
Q2 2023 (6.83) 84.7 % (1.02) (11.46) 4.63 0.69
Q3 2023 3.72 110.7 % 0.56 (1.25) 4.98 0.75
Q4 2023 (43.36) 90.7 % (6.50) (1.77) (41.59) (6.23)
Q1 2024 (4.85) (111.8 %) (0.73) - (4.85) (0.73)
Q2 2024 11.87 273.8 % 1.78 - 11.87 1.78
Q3 2024 35.94 865.2 % 5.39 - 35.94 5.39
Q4 2024 5.79 113.4 % 0.87 14.48 (8.69) (1.30)
2024 48.76 173.9 % 7.31 14.48 34.28 5.14

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 0.55 % (4.80 %) (9.01 %)
Q2 2015 1.68 % (2.83 %) (6.95 %)
Q3 2015 2.47 % (1.15 %) (5.22 %)
Q4 2015 3.35 % (0.50 %) (5.26 %)
Q1 2016 1.17 % (2.50 %) (8.40 %)
Q2 2016 2.04 % (1.67 %) (8.43 %)
Q3 2016 2.26 % (1.96 %) (9.90 %)
Q4 2016 3.10 % (0.86 %) (9.96 %)
Q1 2017 4.87 % 1.51 % (7.96 %)
Q2 2017 3.38 % 0.28 % (10.06 %)
Q3 2017 3.57 % 0.50 % (10.15 %)
Q4 2017 3.86 % 0.70 % (11.72 %)
Q1 2018 3.15 % (0.67 %) (14.04 %)
Q2 2018 2.29 % (1.13 %) (20.29 %)
Q3 2018 (1.18 %) (5.13 %) (25.69 %)
Q4 2018 (11.08 %) (18.24 %) (39.20 %)
Q1 2019 (15.17 %) (23.90 %) (47.00 %)
Q2 2019 (21.44 %) (35.73 %) (46.43 %)
Q3 2019 (21.55 %) (39.33 %) (47.75 %)
Q4 2019 (9.23 %) (19.05 %) (20.83 %)
Q1 2020 (12.85 %) (24.76 %) (26.76 %)
Q2 2020 (9.71 %) (18.37 %) (22.60 %)
Q3 2020 (12.32 %) (22.44 %) (25.59 %)
Q4 2020 (15.64 %) (35.68 %) (39.25 %)
Q1 2021 (15.44 %) (35.14 %) (36.84 %)
Q2 2021 (26.68 %) (51.05 %) (52.01 %)
Q3 2021 (41.36 %) (70.09 %) (74.07 %)
Q4 2021 (47.73 %) (68.42 %) (121.02 %)
Q1 2022 (65.20 %) (88.46 %) (148.11 %)
Q2 2022 (72.10 %) (106.10 %) (190.86 %)
Q3 2022 (80.78 %) (111.16 %) (213.00 %)
Q4 2022 (132.42 %) (273.12 %) (705.13 %)
Q1 2023 (178.48 %) (311.84 %) (968.85 %)
Q2 2023 (309.27 %) (503.43 %) (1525.10 %)
Q3 2023 (322.93 %) (549.54 %) (1520.51 %)
Q4 2023 (222.19 %) (210.51 %) (104.63 %)
2023 (222.19 %) (210.51 %) (28.44 %)
Q1 2024 (192.43 %) (339.81 %) (116.80 %)
Q2 2024 (138.85 %) (283.23 %) (78.33 %)
Q3 2024 (103.74 %) (199.23 %) 3.30 %
Q4 2024 - (148.78 %) 77.77 %
2024 (42.93 %) (148.78 %) 77.77 %


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 4.18 (40.31) (37.36) 101.26
Q2 2015 4.18 (28.00) (29.50) 103.53
Q3 2015 4.18 (16.71) (23.34) 99.73
Q4 2015 4.18 0.40 (24.11) 104.06
Q1 2016 4.18 (11.73) (36.24) 95.36
Q2 2016 4.18 (16.30) (36.36) 88.43
Q3 2016 4.18 (14.45) (39.30) 92.92
Q4 2016 4.18 (54.14) (37.28) 71.68
Q1 2017 4.18 (45.76) (28.91) 64.29
Q2 2017 4.18 (31.99) (33.55) 74.42
Q3 2017 4.18 (41.40) (33.05) 67.25
Q4 2017 4.18 (19.21) (37.63) 50.20
Q1 2018 4.18 (18.51) (42.91) 49.24
Q2 2018 4.18 (51.19) (57.17) 24.57
Q3 2018 4.18 (46.70) (64.06) 21.02
Q4 2018 4.18 (15.06) (81.11) 38.79
Q1 2019 4.18 (17.78) (77.86) 31.60
Q2 2019 4.18 1.10 (58.98) 26.42
Q3 2019 4.18 (0.83) (49.53) 21.41
Q4 2019 4.18 (14.79) (19.00) 22.56
Q1 2020 6.67 (10.93) (13.57) 44.54
Q2 2020 6.67 (10.67) (13.31) 43.91
Q3 2020 6.67 0.60 (15.49) 51.12
Q4 2020 6.67 (8.24) (21.69) 43.26
Q1 2021 6.67 (7.15) (20.60) 37.73
Q2 2021 6.67 (7.54) (20.99) 33.67
Q3 2021 6.67 (22.22) (22.22) 26.42
Q4 2021 6.67 (29.12) (29.12) 12.56
Q1 2022 6.67 (29.31) (29.31) 9.85
Q2 2022 6.67 (33.10) (33.10) (2.72)
Q3 2022 6.67 (31.36) (31.36) (7.10)
Q4 2022 6.67 (86.99) (76.94) (74.40)
Q1 2023 6.67 (75.29) (71.38) (68.41)
Q2 2023 6.67 (69.65) (64.02) (71.08)
Q3 2023 6.67 (63.86) (58.04) (65.46)
Q4 2023 6.67 (0.83) (4.81) (72.43)
Q1 2024 6.67 (7.69) (5.52) (69.08)
Q2 2024 6.67 (4.89) (4.43) (66.79)
Q3 2024 6.67 (0.06) 0.21 (61.34)
Q4 2024 6.67 7.31 5.14 (62.86)

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
Q1 2015 NEG NEG 2.89
Q2 2015 NEG NEG 2.49
Q3 2015 NEG NEG 2.21
Q4 2015 More than 100 NEG 2.14
Q1 2016 NEG NEG 2.13
Q2 2016 NEG NEG 2.18
Q3 2016 NEG NEG 1.44
Q4 2016 NEG NEG 2.46
Q1 2017 NEG NEG 2.59
Q2 2017 NEG NEG 2.24
Q3 2017 NEG NEG 2.48
Q4 2017 NEG NEG 3.32
Q1 2018 NEG NEG 3.39
Q2 2018 NEG NEG 5.28
Q3 2018 NEG NEG 4.73
Q4 2018 NEG NEG 4.16
Q1 2019 NEG NEG 5.72
Q2 2019 More than 100 NEG 5.92
Q3 2019 NEG NEG 6.98
Q4 2019 NEG NEG 7.10
Q1 2020 NEG NEG 1.27
Q2 2020 NEG NEG 1.65
Q3 2020 More than 100 NEG 2.24
Q4 2020 NEG NEG 3.72
Q1 2021 NEG NEG 4.28
Q2 2021 NEG NEG 4.85
Q3 2021 NEG NEG 5.54
Q4 2021 NEG NEG 8.40
Q1 2022 NEG NEG 8.03
Q2 2022 NEG NEG (21.06)
Q3 2022 NEG NEG (8.05)
Q4 2022 NEG NEG (0.77)
Q1 2023 NEG NEG (0.84)
Q2 2023 NEG NEG (0.80)
Q3 2023 NEG NEG (0.87)
Q4 2023 NEG NEG (0.79)
Q1 2024 NEG NEG (1.21)
Q2 2024 NEG NEG (1.18)
Q3 2024 NEG More than 100 (1.33)
Q4 2024 13.82 19.66 (1.61)

Business Segments (Million)

Compared With The
Period Sale of Goods Contract Revenue
Q1 2015 472.24 26.11
Q2 2015 461.29 14.41
Q3 2015 480.09 11.54
Q4 2015 422.83 38.96
Q1 2016 379.92 6.75
Q2 2016 444.91 29.93
Q3 2016 330.89 17.60
Q4 2016 324.95 67.48
Q1 2017 325.31 14.88
Q2 2017 332.95 18.46
Q3 2017 291.99 22.59
Q4 2017 293.43 42.86
Q1 2018 261.76 13.30
Q2 2018 232.45 19.58
Q3 2018 166.50 12.47
Q4 2018 140.51 18.44
Q1 2019 93.48 8.98
Q2 2019 70.23 20.35
Q3 2019 52.77 28.86
Q1 2020 41.57 17.97
Q2 2020 133.48 11.70
Q3 2020 75.65 16.96
Q4 2020 59.87 11.58
Q1 2021 60.12 3.73
Q2 2021 37.63 3.72
Q3 2021 19.75 3.75
Q4 2021 25.61 6.24
Q1 2022 29.72 5.63
Q2 2022 13.44 11.59
Q3 2022 4.83 1.30
Q1 2023 5.91 5.81
Q2 2023 2.07 1.80
Q3 2023 2.32 1.16
Q4 2023 7.69 3.93
Q1 2024 9.22 3.36
Q2 2024 5.18 4.94
Q3 2024 2.35 4.92
Q4 2024 1.09 13.03


Financial Ratios
Current
Market Cap (M Riyal) 1,097.55
Enterprise Value (EV) (M Riyal) 1,194.50
Shares Outstanding ((M)) 6.67
EPS ( Riyal) (TTM) 16.10
Book Value (BV) ( Riyal) (47.06)
Par Value ( Riyal) 10.00
Recurring P/E 11.80
P/E (TTM) 10.21
Price/book (3.50)
Return on Average Assets (%) (TTM) 14.5
Return on Average Equity (%) (TTM) (29.71 )
EV/adj EBITDA (13.73)
EV/Revenues 9.38
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Share Price

Saudi Cable Co.
164.50
(0.50) (0.30 %)

Saudi Cable Co. (SAUDI CABLE)

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