Maaden Q1 2024 profit jumps to SAR 981.7M

13/05/2024 Argaam Exclusive

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Saudi Arabian Mining Co. (Maaden) reported a net profit of SAR 981.7 million for Q1 2024, from SAR 419.4 million in the prior-year period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	8,045.09	7,348.23	(8.7 %)
Gross Income	1,585.63	2,413.32	52.2 %
Operating Income	930.21	1,649.82	77.4 %
Net Income	419.42	981.69	134.1 %
Average Shares	3,691.77	3,691.77	-
Earnings Per Share before unusual items (Riyal)	0.11	0.21	86.6 %
EPS (Riyal)	0.11	0.27	134.1 %

Item	Q4 2023	Q1 2024	Change‬
Revenues	8,034.57	7,348.23	(8.5 %)
Gross Income	2,783.94	2,413.32	(13.3 %)
Operating Income	1,830.57	1,649.82	(9.9 %)
Net Income	890.40	981.69	10.3 %
Average Shares	3,691.77	3,691.77	-
Earnings Per Share before unusual items (Riyal)	0.26	0.21	(19.9 %)
EPS (Riyal)	0.24	0.27	10.3 %

The profit increase was driven by higher gross profit, which rose by SAR 828 million, or 52%, mainly as a result of higher sales volume, reduction in raw material cost, lower depreciation expense and the impact that the one-off industrial utility charges had in the prior year.

In addition, an insurance claim received for the relining of pots within smelter plants of SAR 199 million supported profitability during the quarter.

However, the increase in profit was partially offset by lower commodity market prices of all products except gold and alumina, as well as higher income taxes and Zakat.

On a sequential basis, net profit grew 10.3% from SAR 890.4 million in Q4 2023.

Shareholders’ equity, excluding minority interest, rose to SAR 47.36 billion as of March 31, 2024, compared to SAR 45.54 billion a year ago.

Attached Documents:

View More Financial Results

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
Q1 2015	260.93	108.4 %	0.07	-	260.93	0.07
Q2 2015	270.01	(27.2 %)	0.08	(2.90)	272.91	0.08
Q3 2015	79.91	(83.5 %)	0.02	(26.65)	106.57	0.03
Q4 2015	(206.41)	(154.9 %)	(0.06)	(26.80)	(179.61)	(0.05)
2015	605.17	(55.4 %)	0.17	(56.35)	661.53	0.19
Q1 2016	194.30	(25.5 %)	0.06	-	194.30	0.06
Q2 2016	171.22	(36.6 %)	0.05	-	171.22	0.05
Q3 2016	107.45	34.5 %	0.03	-	107.45	0.03
Q4 2016	(674.54)	(226.8 %)	(0.19)	(600.34)	(74.20)	(0.02)
2016	(10.74)	(101.8 %)	0.00	(600.34)	589.60	0.17
Q1 2017	275.61	41.8 %	0.08	-	275.61	0.08
Q2 2017	356.47	108.2 %	0.10	-	356.47	0.10
Q3 2017	242.91	126.1 %	0.07	-	242.91	0.07
Q4 2017	(943.51)	(39.9 %)	(0.27)	(477.00)	(466.51)	(0.13)
2017	714.84	6755.9 %	0.20	(477.00)	1,191.84	0.34
Q1 2018	638.16	131.5 %	0.18	-	638.16	0.18
Q2 2018	517.76	45.2 %	0.15	-	517.76	0.15
Q3 2018	414.98	70.8 %	0.12	-	414.98	0.12
Q4 2018	277.01	129.4 %	0.08	65.06	211.95	0.06
2018	1,847.92	158.5 %	0.53	65.06	1,782.86	0.51
Q1 2019	(127.21)	(119.9 %)	(0.04)	-	(127.21)	(0.04)
Q2 2019	(243.67)	(147.1 %)	(0.07)	-	(243.67)	(0.07)
Q3 2019	(92.04)	(122.2 %)	(0.03)	-	(92.04)	(0.03)
Q4 2019	(276.55)	(199.8 %)	(0.08)	46.88	(323.42)	(0.09)
2019	(739.46)	(140.0 %)	(0.21)	46.88	(786.34)	(0.22)
Q1 2020	(353.25)	(177.7 %)	(0.10)	-	(353.25)	(0.10)
Q2 2020	(434.15)	(78.2 %)	(0.12)	-	(434.15)	(0.12)
Q3 2020	6.47	107.0 %	0.00	-	6.47	0.00
Q4 2020	571.95	306.8 %	0.15	-	571.95	0.15
2020	(208.98)	71.7 %	(0.06)	-	(208.98)	(0.06)
Q1 2021	761.16	315.5 %	0.21	-	761.16	0.21
Q2 2021	1,104.52	354.4 %	0.30	(56.84)	1,161.36	0.31
Q3 2021	1,271.85	19554.6 %	0.34	(52.86)	1,324.71	0.36
Q4 2021	2,090.18	265.5 %	0.57	(206.72)	2,296.90	0.62
2021	5,227.70	2601.5 %	1.42	(316.42)	5,544.12	1.50
Q1 2022	2,171.92	185.3 %	0.59	-	2,171.92	0.59
Q2 2022	4,028.12	264.7 %	1.09	-	4,028.12	1.09
Q3 2022	2,102.53	65.3 %	0.57	195.00	1,907.53	0.52
Q4 2022	1,016.47	(51.4 %)	0.28	-	1,016.47	0.28
2022	9,319.05	78.3 %	2.52	195.00	9,124.05	2.47
Q1 2023	419.42	(80.7 %)	0.11	-	419.42	0.11
Q2 2023	350.94	(91.3 %)	0.10	(192.35)	543.29	0.15
Q3 2023	(83.44)	(104.0 %)	(0.02)	-	(83.44)	(0.02)
Q4 2023	890.40	(12.4 %)	0.24	(86.60)	977.00	0.26
2023	1,577.33	(83.1 %)	0.43	(278.95)	1,856.27	0.50
Q1 2024	981.69	134.1 %	0.27	199.00	782.69	0.21

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS(Riyal)
2014	1,357.34	(19.3 %)	0.39	(21.31)	1,378.65	0.39
2015	605.17	(55.4 %)	0.17	(56.35)	661.53	0.19
2016	(10.74)	(101.8 %)	0.00	(600.34)	589.60	0.17
2017	714.84	6755.9 %	0.20	(477.00)	1,191.84	0.34
2018	1,847.92	158.5 %	0.53	65.06	1,782.86	0.51
2019	(739.46)	(140.0 %)	(0.21)	46.88	(786.34)	(0.22)
2020	(208.98)	71.7 %	(0.06)	-	(208.98)	(0.06)
2021	5,227.70	2601.5 %	1.42	(316.42)	5,544.12	1.50
2022	9,319.05	78.3 %	2.52	195.00	9,124.05	2.47
2023	1,577.33	(83.1 %)	0.43	(278.95)	1,856.27	0.50

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	2,743.30	54.5 %	615.81	55.4 %	387.04	101.5 %
Q2 2015	3,011.46	26.2 %	765.77	1.0 %	475.61	(5.2 %)
Q3 2015	2,541.99	(19.3 %)	523.84	(44.1 %)	271.96	(60.8 %)
Q4 2015	2,659.38	(23.5 %)	533.62	(47.9 %)	200.73	(68.3 %)
2015	10,956.13	1.5 %	2,439.04	(21.7 %)	1,335.34	(33.9 %)
Q1 2016	2,270.43	(17.2 %)	494.86	(19.6 %)	337.39	(12.8 %)
Q2 2016	2,551.70	(15.3 %)	580.95	(24.1 %)	369.76	(22.3 %)
Q3 2016	2,307.79	(9.2 %)	520.06	(0.7 %)	338.61	24.5 %
Q4 2016	2,333.94	(12.2 %)	424.70	(20.4 %)	190.83	(4.9 %)
2016	9,463.86	(13.6 %)	2,020.56	(17.2 %)	1,236.59	(7.4 %)
Q1 2017	2,708.09	19.3 %	925.64	87.1 %	738.02	118.7 %
Q2 2017	2,987.17	17.1 %	1,011.92	74.2 %	808.11	118.6 %
Q3 2017	3,151.29	36.6 %	830.67	59.7 %	629.11	85.8 %
Q4 2017	3,222.24	38.1 %	1,165.28	174.4 %	838.78	339.5 %
2017	12,085.93	27.7 %	3,933.51	94.7 %	2,958.62	139.3 %
Q1 2018	3,566.12	31.7 %	1,414.90	52.9 %	1,190.99	61.4 %
Q2 2018	3,416.48	14.4 %	1,240.43	22.6 %	1,045.44	29.4 %
Q3 2018	3,395.99	7.8 %	1,255.46	51.1 %	973.31	54.7 %
Q4 2018	3,824.70	18.7 %	1,046.81	(10.2 %)	767.43	(8.5 %)
2018	14,170.76	17.3 %	4,886.98	24.2 %	3,977.17	34.4 %
Q1 2019	4,241.34	18.9 %	484.39	(65.8 %)	251.83	(78.9 %)
Q2 2019	4,300.51	25.9 %	515.13	(58.5 %)	192.67	(81.6 %)
Q3 2019	4,298.68	26.6 %	721.28	(42.5 %)	269.36	(72.3 %)
Q4 2019	4,895.74	28.0 %	781.55	(25.3 %)	207.03	(73.0 %)
2019	17,736.28	25.2 %	2,671.86	(45.3 %)	920.88	(76.8 %)
Q1 2020	4,355.16	2.7 %	282.76	(41.6 %)	(119.29)	(147.4 %)
Q2 2020	4,016.41	(6.6 %)	292.99	(43.1 %)	(163.37)	(184.8 %)
Q3 2020	4,659.15	8.4 %	668.41	(7.3 %)	249.53	(7.4 %)
Q4 2020	5,549.10	13.3 %	1,322.84	69.3 %	843.72	307.5 %
2020	18,579.82	4.8 %	2,567.00	(3.9 %)	810.60	(12.0 %)
Q1 2021	5,449.77	25.1 %	1,436.40	408.0 %	1,046.98	977.7 %
Q2 2021	6,101.45	51.9 %	2,113.64	621.4 %	1,668.93	1121.6 %
Q3 2021	6,698.52	43.8 %	2,320.13	247.1 %	1,925.85	671.8 %
Q4 2021	8,519.27	53.5 %	3,600.92	172.2 %	3,088.31	266.0 %
2021	26,769.01	44.1 %	9,471.09	269.0 %	7,730.07	853.6 %
Q1 2022	8,914.08	63.6 %	3,884.06	170.4 %	3,262.38	211.6 %
Q2 2022	11,876.16	94.6 %	6,157.99	191.3 %	5,553.77	232.8 %
Q3 2022	10,014.42	49.5 %	3,573.83	54.0 %	2,953.75	53.4 %
Q4 2022	9,472.46	11.2 %	2,633.07	(26.9 %)	1,766.91	(42.8 %)
2022	40,277.12	50.5 %	16,248.95	71.6 %	13,536.81	75.1 %
Q1 2023	8,045.09	(9.7 %)	1,585.63	(59.2 %)	930.21	(71.5 %)
Q2 2023	6,966.27	(41.3 %)	1,615.85	(73.8 %)	843.39	(84.8 %)
Q3 2023	6,226.00	(37.8 %)	928.99	(74.0 %)	211.99	(92.8 %)
Q4 2023	8,034.57	(15.2 %)	2,783.94	5.7 %	1,830.57	3.6 %
2023	29,271.93	(27.3 %)	6,914.41	(57.4 %)	3,816.16	(71.8 %)
Q1 2024	7,348.23	(8.7 %)	2,413.32	52.2 %	1,649.82	77.4 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	10,791.88	78.5 %	3,115.01	106.4 %	2,018.78	234.5 %
2015	10,956.13	1.5 %	2,439.04	(21.7 %)	1,335.34	(33.9 %)
2016	9,463.86	(13.6 %)	2,020.56	(17.2 %)	1,236.59	(7.4 %)
2017	12,085.93	27.7 %	3,933.51	94.7 %	2,958.62	139.3 %
2018	14,170.76	17.3 %	4,886.98	24.2 %	3,977.17	34.4 %
2019	17,736.28	25.2 %	2,671.86	(45.3 %)	920.88	(76.8 %)
2020	18,579.82	4.8 %	2,567.00	(3.9 %)	810.60	(12.0 %)
2021	26,769.01	44.1 %	9,471.09	269.0 %	7,730.07	853.6 %
2022	40,277.12	50.5 %	16,248.95	71.6 %	13,536.81	75.1 %
2023	29,271.93	(27.3 %)	6,914.41	(57.4 %)	3,816.16	(71.8 %)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	28.36 %	34.39 %	12.88 %
Q2 2015	26.98 %	34.58 %	11.44 %
Q3 2015	24.88 %	34.62 %	8.81 %
Q4 2015	22.26 %	33.03 %	4.21 %
2015	22.26 %	33.03 %	6.04 %
Q1 2016	22.11 %	33.97 %	3.76 %
Q2 2016	21.28 %	33.79 %	2.92 %
Q3 2016	21.75 %	34.37 %	3.00 %
Q4 2016	21.35 %	35.51 %	4.21 %
2016	21.35 %	35.51 %	6.23 %
Q1 2017	24.76 %	38.59 %	4.85 %
Q2 2017	27.88 %	41.91 %	6.44 %
Q3 2017	28.56 %	42.30 %	7.16 %
Q4 2017	32.59 %	44.39 %	3.38 %
2017	32.55 %	43.87 %	9.86 %
Q1 2018	34.21 %	45.23 %	5.96 %
Q2 2018	34.83 %	48.09 %	6.98 %
Q3 2018	37.32 %	50.84 %	8.12 %
Q4 2018	34.90 %	50.48 %	12.55 %
2018	34.49 %	50.60 %	12.58 %
Q1 2019	27.07 %	43.87 %	6.84 %
Q2 2019	20.95 %	38.62 %	1.62 %
Q3 2019	16.61 %	34.82 %	(1.51 %)
Q4 2019	14.11 %	31.33 %	(4.43 %)
2019	15.06 %	31.33 %	(4.43 %)
Q1 2020	12.89 %	30.67 %	(5.67 %)
Q2 2020	11.83 %	28.58 %	(6.85 %)
Q3 2020	11.30 %	28.15 %	(6.16 %)
Q4 2020	13.82 %	30.31 %	(1.12 %)
2020	13.82 %	30.31 %	(1.12 %)
Q1 2021	18.91 %	34.23 %	4.60 %
Q2 2021	25.47 %	38.93 %	11.49 %
Q3 2021	30.22 %	42.39 %	16.05 %
Q4 2021	35.38 %	46.12 %	20.71 %
2021	35.38 %	46.12 %	20.71 %
Q1 2022	39.42 %	48.15 %	23.00 %
Q2 2022	44.33 %	51.66 %	27.28 %
Q3 2022	43.78 %	50.04 %	26.46 %
Q4 2022	40.34 %	46.06 %	22.65 %
2022	40.34 %	46.06 %	22.65 %
Q1 2023	35.40 %	41.41 %	18.71 %
Q2 2023	27.27 %	33.59 %	11.27 %
Q3 2023	22.02 %	29.16 %	6.17 %
Q4 2023	23.62 %	30.68 %	6.34 %
2023	23.62 %	30.68 %	6.34 %
Q1 2024	27.09 %	33.27 %	7.77 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	28.86 %	33.17 %	12.77 %
2015	22.26 %	33.03 %	6.04 %
2016	21.35 %	35.51 %	6.23 %
2017	32.55 %	43.87 %	9.86 %
2018	34.49 %	50.60 %	12.58 %
2019	15.06 %	31.33 %	(4.43 %)
2020	13.82 %	30.31 %	(1.12 %)
2021	35.38 %	46.12 %	20.71 %
2022	40.34 %	46.06 %	22.65 %
2023	23.62 %	30.68 %	6.34 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	22.45 %	33.74 %	9.51 %
Q2 2015	25.43 %	34.86 %	9.06 %
Q3 2015	20.61 %	33.86 %	4.19 %
Q4 2015	20.07 %	29.44 %	(6.75 %)
Q1 2016	21.80 %	38.21 %	8.56 %
Q2 2016	22.77 %	34.30 %	6.71 %
Q3 2016	22.53 %	36.35 %	4.66 %
Q4 2016	18.20 %	33.37 %	(3.18 %)
Q1 2017	34.18 %	49.03 %	10.18 %
Q2 2017	33.88 %	46.43 %	11.93 %
Q3 2017	26.36 %	39.21 %	7.71 %
Q4 2017	36.16 %	43.68 %	(14.48 %)
Q1 2018	39.68 %	50.95 %	17.90 %
Q2 2018	36.31 %	57.47 %	15.15 %
Q3 2018	36.97 %	50.86 %	12.22 %
Q4 2018	27.37 %	43.47 %	5.54 %
Q1 2019	11.42 %	27.67 %	(3.00 %)
Q2 2019	11.98 %	35.45 %	(5.67 %)
Q3 2019	16.78 %	33.55 %	(2.14 %)
Q4 2019	15.96 %	28.95 %	(6.61 %)
Q1 2020	6.49 %	25.05 %	(8.11 %)
Q2 2020	7.29 %	26.62 %	(10.81 %)
Q3 2020	14.35 %	31.54 %	0.14 %
Q4 2020	23.84 %	36.08 %	10.31 %
Q1 2021	26.36 %	40.24 %	13.97 %
Q2 2021	34.64 %	46.00 %	19.03 %
Q3 2021	34.64 %	46.09 %	19.78 %
Q4 2021	42.27 %	50.01 %	26.96 %
Q1 2022	43.57 %	49.40 %	24.37 %
Q2 2022	51.85 %	57.69 %	33.92 %
Q3 2022	35.69 %	41.54 %	19.05 %
Q4 2022	27.80 %	33.08 %	10.73 %
Q1 2023	19.71 %	27.02 %	5.21 %
Q2 2023	23.20 %	30.42 %	7.80 %
Q3 2023	14.92 %	24.56 %	(1.34 %)
Q4 2023	34.65 %	39.32 %	12.16 %
Q1 2024	32.84 %	36.73 %	10.65 %

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	3,505.43	0.43	0.43	7.69
Q2 2015	3,505.43	0.40	0.40	7.77
Q3 2015	3,505.43	0.28	0.30	7.79
Q4 2015	3,505.43	0.12	0.13	7.79
Q1 2016	3,505.43	0.10	0.11	7.29
Q2 2016	3,505.43	0.07	0.08	7.34
Q3 2016	3,505.43	0.08	0.08	7.37
Q4 2016	3,505.43	(0.06)	0.11	7.23
Q1 2017	3,505.43	(0.03)	0.14	7.31
Q2 2017	3,505.43	0.02	0.19	7.41
Q3 2017	3,505.43	0.06	0.23	7.46
Q4 2017	3,505.43	(0.02)	0.12	7.44
Q1 2018	3,505.43	0.08	0.22	7.63
Q2 2018	3,505.43	0.13	0.27	7.77
Q3 2018	3,505.43	0.18	0.32	7.89
Q4 2018	3,505.43	0.53	0.51	7.96
Q1 2019	3,552.02	0.30	0.29	7.92
Q2 2019	3,552.02	0.09	0.07	8.04
Q3 2019	3,552.02	(0.05)	(0.07)	8.00
Q4 2019	3,552.02	(0.21)	(0.22)	8.30
Q1 2020	3,691.77	(0.26)	(0.27)	8.16
Q2 2020	3,691.77	(0.31)	(0.33)	8.02
Q3 2020	3,691.77	(0.29)	(0.30)	8.03
Q4 2020	3,691.77	(0.06)	(0.06)	8.19
Q1 2021	3,691.77	0.25	0.25	8.41
Q2 2021	3,691.77	0.66	0.68	8.71
Q3 2021	3,691.77	1.00	1.03	9.06
Q4 2021	3,691.77	1.42	1.50	9.66
Q1 2022	3,691.77	1.80	1.88	10.27
Q2 2022	3,691.77	2.59	2.66	11.36
Q3 2022	3,691.77	2.82	2.82	11.94
Q4 2022	3,691.77	2.52	2.47	12.21
Q1 2023	3,691.77	2.05	2.00	12.34
Q2 2023	3,691.77	1.05	1.05	12.43
Q3 2023	3,691.77	0.46	0.51	12.39
Q4 2023	3,691.77	0.43	0.50	12.57
Q1 2024	3,691.77	0.58	0.60	12.83

Period	Shares Outstanding (M)	EPS (Riyal)	Earnings Per Share before unusual items (Riyal)	Book Value (BV)
2014	3,505.43	0.39	0.39	7.61
2015	3,505.43	0.17	0.19	7.79
2016	3,505.43	0.00	0.17	7.23
2017	3,505.43	0.20	0.34	7.44
2018	3,505.43	0.53	0.51	7.96
2019	3,552.02	(0.21)	(0.22)	8.30
2020	3,691.77	(0.06)	(0.06)	8.19
2021	3,691.77	1.42	1.50	9.66
2022	3,691.77	2.52	2.47	12.21
2023	3,691.77	0.43	0.50	12.57

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2015	32.22	31.77	1.78
Q2 2015	36.10	35.49	1.85
Q3 2015	37.47	35.63	1.35
Q4 2015	More than 100	91.28	1.54
Q1 2016	More than 100	91.36	1.41
Q2 2016	More than 100	More than 100	1.81
Q3 2016	More than 100	More than 100	1.48
Q4 2016	NEG	More than 100	1.95
Q1 2017	NEG	More than 100	2.02
Q2 2017	More than 100	93.29	2.39
Q3 2017	More than 100	82.60	2.53
Q4 2017	NEG	More than 100	2.52
Q1 2018	More than 100	90.06	2.60
Q2 2018	More than 100	77.80	2.66
Q3 2018	More than 100	59.48	2.37
Q4 2018	33.83	35.06	2.24
Q1 2019	64.31	68.42	2.51
Q2 2019	More than 100	More than 100	2.19
Q3 2019	NEG	NEG	2.05
Q4 2019	NEG	NEG	1.84
Q1 2020	NEG	NEG	1.31
Q2 2020	NEG	NEG	1.49
Q3 2020	NEG	NEG	1.79
Q4 2020	NEG	NEG	1.70
Q1 2021	79.83	79.83	2.33
Q2 2021	32.79	32.04	2.49
Q3 2021	28.65	27.82	3.18
Q4 2021	19.04	17.95	2.79
Q1 2022	25.60	24.43	4.48
Q2 2022	13.22	12.87	3.01
Q3 2022	16.98	16.96	4.00
Q4 2022	17.61	17.98	3.64
Q1 2023	21.45	22.02	3.56
Q2 2023	41.26	41.29	3.50
Q3 2023	90.08	80.94	3.35
Q4 2023	More than 100	99.46	3.98
Q1 2024	87.09	83.95	3.93

Period	P/E	Adjusted P/E	Price/book
2014	28.57	28.13	1.45
2015	69.50	63.58	1.54
2016	NEG	83.85	1.95
2017	92.06	55.22	2.52
2018	33.83	35.06	2.24
2019	NEG	NEG	1.84
2020	NEG	NEG	1.70
2021	19.04	17.95	2.79
2022	17.61	17.98	3.64
2023	More than 100	99.46	3.98

Business Segments (Million)

Compared With The

Period	Phosphate	Aluminum	Base Metals and new minerals	All other sectors	Industrial minerals	Gold	Infrastructure	Adjustments
Q1 2015	1,111.14	1,454.39	177.76	-	-	-	-	-
Q2 2015	1,533.95	1,295.95	181.55	-	-	-	-	-
Q3 2015	1,337.60	1,026.37	177.23	-	-	-	-	-
Q4 2015	1,505.16	985.55	168.67	-	-	-	-	-
Q1 2016	1,052.72	1,036.49	181.23	-	-	-	-	-
Q2 2016	1,145.68	1,103.85	302.18	-	-	-	-	-
Q3 2016	1,058.82	965.85	283.11	-	-	-	-	-
Q4 2016	907.84	1,143.08	283.01	-	-	-	-	-
Q1 2017	1,250.08	1,131.49	326.51	-	-	-	-	-
Q2 2017	1,487.28	1,170.89	328.99	-	-	-	-	-
Q3 2017	1,401.03	1,352.72	386.22	-	-	-	-	-
Q4 2017	1,322.83	1,376.45	551.44	-	-	-	-	-
Q1 2018	1,544.33	1,426.45	595.34	-	-	-	-	-
Q2 2018	1,486.30	1,434.84	495.34	-	-	-	-	-
Q3 2018	1,605.08	1,317.13	441.24	-	-	-	-	-
Q4 2018	1,890.45	1,489.83	444.42	-	-	-	-	-
Q1 2019	2,075.76	1,785.00	380.58	-	-	-	-	-
Q2 2019	2,098.25	1,782.39	419.87	-	-	-	-	-
Q3 2019	1,937.44	1,785.28	575.97	-	-	-	-	-
Q4 2019	2,138.86	2,047.09	709.79	-	-	-	-	-
Q1 2020	1,907.57	1,762.28	685.30	-	-	-	-	-
Q2 2020	1,626.94	1,636.20	753.28	-	-	-	-	-
Q3 2020	2,284.69	1,703.40	671.06	-	-	-	-	-
Q4 2020	2,843.97	2,079.71	625.42	-	-	-	-	-
Q1 2021	2,696.72	2,112.86	640.19	-	-	-	-	-
Q2 2021	3,135.96	2,408.38	557.11	-	-	-	-	-
Q3 2021	3,645.59	2,545.09	507.84	-	-	-	-	-
Q4 2021	5,104.36	2,823.54	591.37	-	-	-	-	-
Q1 2022	5,535.53	2,796.62	581.93	-	-	-	-	-
Q2 2022	7,912.48	3,391.77	571.91	-	-	-	-	-
Q3 2022	6,723.82	2,778.26	499.67	12.68	-	-	-	-
Q4 2022	6,550.95	2,313.14	598.82	9.56	-	-	-	-
Q1 2023	5,415.20	2,079.79	540.73	9.37	-	-	-	-
Q2 2023	4,041.72	2,177.43	737.66	9.46	-	-	-	-
Q3 2023	3,245.65	2,151.77	811.77	16.82	-	-	-	-
Q4 2023	4,714.86	2,401.25	897.04	21.41	-	-	-	-
Q1 2024	4,251.37	2,102.83	994.03	-	-	-	-	-

Period	Phosphate	Aluminum	Base Metals and new minerals	All other sectors	Industrial minerals	Gold	Infrastructure	Adjustments
2014	5,577.75	4,499.00	715.13	-	-	-	-	-
2015	5,488.12	4,762.79	705.22	-	-	-	-	-
2016	4,165.06	4,249.27	1,049.53	-	-	-	-	-
2017	5,461.22	5,031.55	1,593.16	-	-	-	-	-
2018	6,526.17	5,668.25	1,976.34	-	-	-	-	-
2019	8,250.31	7,399.76	2,086.20	-	-	-	-	-
2020	8,663.18	7,181.58	2,735.06	-	-	-	-	-
2021	14,582.62	9,889.87	2,296.52	-	-	-	-	-
2022	26,722.78	11,279.79	2,252.32	22.24	-	-	-	-
2023	17,417.43	8,810.23	2,987.21	57.06	-	-	-	-

Analysts Estimates (Million)

Item	Profit (Expected)	Profit (Actual)	Change	Profit Before Unusual Items	Change
Average	1,139.42	981.69	(13.8 %)	782.69	(31.3 %)

Estimates vs Actual (Million)

Item	Profit (Expected)	Profit (Actual)	Change‬	Profit Before Unusual Items	Change‬
Goldman Sachs	1,034.00	981.69	(5.3) %	782.69	(32.1) %
AlJazira Capital	734.50	981.69	25.2 %	782.69	6.2 %
Hermes	730.00	981.69	25.6 %	782.69	6.7 %
U-Capital	631.00	981.69	35.7 %	782.69	19.4 %
Sico	1,621.00	981.69	(65.1) %	782.69	(107.1) %
Riyad Capital	2,086.00	981.69	(112.5) %	782.69	(166.5) %

Financial Ratios

	Current
Market Cap (M Riyal)	208,826.62
Enterprise Value (EV) (M)	241,317.35
Shares Outstanding ((M))	3,888.76
EPS ( Riyal) (TTM)	0.90
Book Value (BV) ( Riyal)	14.01
Par Value ( Riyal)	10.00
Recurring P/E	46.74
P/E (TTM)	60.71
Price/book	3.92
Return on Average Assets (%) (TTM)	3.0
Return on Average Equity (%) (TTM)	6.8
EV/adj EBITDA	19.59
EV/Revenues	7.15

Saudi Arabian Mining Co. (MAADEN)

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Maaden Q1 2024 profit jumps to SAR 981.7M

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Current Quarter Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Saudi Arabian Mining Co. (MAADEN)

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Maaden Q1 2024 profit jumps to SAR 981.7M

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Current Quarter Comparison (M)

Profit Performance (Million)

Profit Performance (Million)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2024

Revenue by Business Segment (Latest) 2024 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Saudi Arabian Mining Co. (MAADEN)

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Business Segments (Million)