Miahona makes SAR 44.8M profit in 9M 2024; Q3 at SAR 16.7M

06/11/2024 Argaam Exclusive

Miahona Co. reported a net profit of SAR 44.8 million for the first nine months of 2024, up from SAR 44 million in the year-earlier period, on higher revenue from constructions, increased gross profit, and a rise in other revenue.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 225.62 248.08 10.0 %
Gross Income 79.60 80.14 0.7 %
Operating Income 51.82 44.27 (14.6 %)
Net Income 43.92 44.14 0.5 %
Average Shares 160.93 160.93 -
EPS (Riyals) 0.27 0.27 0.5 %


Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 76.00 88.48 16.4 %
Gross Income 28.89 24.57 (14.9 %)
Operating Income 21.42 13.73 (35.9 %)
Net Income 18.88 16.54 (12.4 %)
Average Shares 160.93 160.93 -
EPS (Riyals) 0.12 0.10 (12.4 %)

Q3 2024 net profit stood at SAR 16.7 million, a decline of 12% year-on-year (YoY) from SAR 18.9 million, mainly due to higher revenue from constructions.

 

On a sequential basis, net earnings increased by almost two-fold from SAR 8.1 million in Q2 2024.

 

Total shareholders’ equity (after minority equity) stood at SAR 423.31 million by Sept. 30, 2024, compared to SAR 385.98 million a year earlier.

 

Attached Documents

 

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Share Price

Miahona Co.
30.95
1.70 5.81 %

Miahona Co. (MIAHONA)

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Financial Ratios
Current
Market Cap (M Riyal) 4,980.78
Enterprise Value (EV) (M) 5,267.27
Shares Outstanding ((M)) 160.93
EPS ( Riyal) (TTM) 0.35
Book Value (BV) ( Riyal) 2.63
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 11.77
Return on Average Assets (%) (TTM) 5.6
Return on Average Equity (%) (TTM) 14.1
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
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 % 29.80 15.9 % 17.96 18.7 %
Q1 2024 81.60 25.4 % 28.68 56.7 % 15.27 48.8 %
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 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
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 19.67 143.1 % 0.12 - 19.67 0.12
Q2 2024 7.93 (53.2 %) 0.05 1.44 6.48 0.04
Q3 2024 16.54 (12.4 %) 0.10 5.77 10.77 0.07

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
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 % 30.49 % 20.06 %
Q4 2023 33.70 % 28.73 % 17.48 %
Q1 2024 35.11 % - 20.03 %
Q2 2024 32.60 % - 17.70 %
Q3 2024 30.13 % 23.47 % 14.66 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
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 0.42 0.42 -
Q2 2024 160.93 0.37 0.36 2.63
Q3 2024 160.93 0.35 0.31 2.63

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
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 77.24 79.16 10.83
Q3 2024 85.65 98.07 11.52

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

Analysts Estimates (Million)

Item Q3 2024 (e) Q3 2024 (a) Change‬
Average 10.00 16.54 65.37 %

Estimates vs Actual (Million)

Item Q3 2024 (e) Q3 2024 (a) Change
Al Rajhi Capital 11.00 16.54 50.3 %
GIB Capital 9.00 16.54 83.7 %

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