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Dividend History
MBC Group makes SAR 426.1M profit in 2024, SAR 175.6M in Q4 on stake sale
MBC Group Co. reported a net profit surge to SAR 426.1 million (before minority interest) in 2024 from SAR 69.3 million in 2023.
Financials (M)
| Item | 2023 | 2024 | Change |
|---|---|---|---|
| Revenues | 3,711.78 | 4,196.37 | 13.1 % |
| Gross Income | 921.27 | 1,204.18 | 30.7 % |
| Operating Income | (87.31) | 117.22 | 234.3 % |
| Net Income | 65.29 | 399.96 | 512.6 % |
| Average Shares | 299.25 | 332.50 | 11.1 % |
| Earnings Per Share before unusual items | 0.04 | 0.49 | 1232.6 % |
| EPS (Riyals) | 0.22 | 1.20 | 451.4 % |
The group cited a 13% rise year-on-year (YoY) in revenues to SAR 485 million, mainly due to an increase in revenues from the broadcasting and other commercial activities. This is in addition to an increase in SHAHID’s revenues, thanks to a rise in both advertising and subscription revenues.
The financial performance of SHAHID and broadcasting and other commercial activities segment improved, supported by increased revenues from broadcasting and technical services contacts.
The 2024 net profit includes SAR 171 million, representing the net investment gain on sale of a stake in an associate.
Current Quarter Comparison (M)
| Item | Q4 2023 | Q4 2024 | Change |
|---|---|---|---|
| Revenues | 1,062.72 | 1,239.67 | 16.7 % |
| Gross Income | 298.27 | 312.77 | 4.9 % |
| Operating Income | (41.84) | (6.58) | 84.3 % |
| Net Income | 13.26 | 178.84 | 1248.4 % |
| Average Shares | 299.25 | 332.50 | 11.1 % |
| Earnings Per Share before unusual items | (0.01) | (0.15) | (2,449.7 %) |
| EPS (Riyals) | 0.04 | 0.54 | 1113.6 % |
The fourth-quarter net earnings saw a spike to reach SAR 175.6 million from SAR 16.9 million in Q4 2023 as MBC sold a stake in an associate.
In Q3 2024, MENA’s largest media company posted a net profit of SAR 9 million.
Shareholders’ equity, after minority interest, came in at SAR 4.17 billion as of Dec. 31, 2024, up from SAR 3.77 billion a year earlier.
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Share Price
MBC Group Co. (MBC GROUP)
| Current | |
| Market Cap (M Riyal) | 13,117.13 |
| Enterprise Value (EV) (M) | 11,702.09 |
| Shares Outstanding ((M)) | 332.50 |
| EPS ( Riyal) (TTM) | 1.20 |
| Book Value (BV) ( Riyal) | 12.55 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | More than 100 |
| P/E (TTM) | 32.80 |
| Price/book | 3.14 |
| Return on Average Assets (%) (TTM) | 4.8 |
| Return on Average Equity (%) (TTM) | 10.1 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2024 | 1,235.75 | 35.9 % | 344.91 | 115.2 % | 64.31 | 229.0 % |
| Q2 2024 | 963.87 | (11.6 %) | 354.02 | 22.9 % | 92.90 | 99.6 % |
| Q3 2024 | 757.08 | 16.6 % | 192.48 | 10.2 % | (33.41) | 20.8 % |
| Q4 2024 | 1,239.67 | 16.7 % | 312.77 | 4.9 % | (6.58) | 84.3 % |
| 2024 | 4,196.37 | 13.1 % | 1,204.18 | 30.7 % | 117.22 | 234.3 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | Earnings Per Share before unusual items |
|---|---|---|---|---|---|---|
| Q1 2024 | 109.50 | 577.9 % | 0.33 | 10.35 | 99.15 | 0.30 |
| Q2 2024 | 102.56 | 48.2 % | 0.31 | - | 102.56 | 0.31 |
| Q3 2024 | 9.06 | 57.3 % | 0.03 | - | 9.06 | 0.03 |
| Q4 2024 | 178.84 | 1248.4 % | 0.54 | 228.05 | (49.21) | (0.15) |
| 2024 | 399.96 | 512.6 % | 1.20 | 238.40 | 161.56 | 0.49 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2024 | 27.38 % | 1.18 % | 3.29 % |
| Q2 2024 | 29.96 % | 2.95 % | 5.26 % |
| Q3 2024 | 29.60 % | 3.87 % | 5.20 % |
| Q4 2024 | 28.70 % | 5.16 % | 3.85 % |
| 2024 | 28.70 % | 5.16 % | 3.85 % |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2024 | 332.50 | 0.59 | 0.40 | 11.68 |
| Q2 2024 | 332.50 | 0.69 | 0.62 | 11.99 |
| Q3 2024 | 332.50 | 0.70 | 0.63 | 12.01 |
| Q4 2024 | 332.50 | 1.20 | 0.49 | 12.55 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2024 | 95.70 | More than 100 | 4.87 |
| Q2 2024 | 61.87 | 69.50 | 3.59 |
| Q3 2024 | 67.88 | 76.11 | 3.98 |
| Q4 2024 | 43.48 | More than 100 | 4.17 |
Business Segments (Million)
Q4 2024
| Period | Broadcasting and Other Commercial Activities | Shahid | M&E Initiatives | MBC Studios | Sand and white Pebble sales | Eliminations |
|---|---|---|---|---|---|---|
| Q1 2024 | 774.88 | 298.19 | 162.68 | - | - | - |
| Q2 2024 | 565.66 | 259.14 | 139.07 | - | - | - |
| Q3 2024 | 430.36 | 248.35 | 78.37 | - | - | - |
| Q4 2024 | 653.24 | 273.23 | 313.21 | - | - | - |
Analysts Estimates (Million)
| Item | Q4 2024 (e) | Q4 2024 (net income) | Change |
|---|---|---|---|
| Average | 125.50 | 178.84 | 42.51 % |
Estimates vs Actual (Million)
| Item | Q4 2024 (e) | Q4 2024 (net income) | Change |
|---|---|---|---|
| SNB Capital | 201.00 | 178.84 | (11.0) % |
| JP Morgan | 50.00 | 178.84 | 257.7 % |
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