MBC Group Co. — Earnings Release 2024

Mar 27, 2025

MBC Group Company announces its Annual Financial results for the year ending on 2024-12-31

4072 · 27/03/2025 07:54:46 · Announcement #86121 · View on Saudi Exchange

MBC Group Company announces its Annual Financial results for the year ending on 2024-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	4,196,373	1,712,062	145.11
Gross Profit (Loss)	1,204,176	472,999	154.58
Operational Profit (Loss)	117,222	-84,020	-
Net profit (Loss)	426,130	17,555	2,327.4
Total Comprehensive Income	417,269	20,695	1,916.28
Total Shareholders Equity (after Deducting Minority Equity)	4,172,699	3,779,232	10.41
Profit (Loss) per Share	1.2	0.17
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year	The Group’s revenue increase is primarily due to the fact that the previous year’s period covered July 2023 to December 2023 (post-subsidiaries acquisition) compared to 2024 which covers the entire 12 months.

The attached Earnings Release document compares the 12-month period of 2024 to the complete 12-month period of 2023, based on retrospective financial reporting, which shows an increase in revenues by SAR 485 million (13%) year-on-year.

The increase is attributed to an increase in the Broadcasting and Other Commercial Activities segment, in addition to an increase in SHAHID’s revenues driven by an increase in both advertising and subscription revenues, which is also disclosed in the additional financial information in Note 30 to the consolidated financial statements. The reason of the increase (decrease) in the net profit during the current year compared to the last year is The Group’s net profit increase is primarily due to the fact that the previous year’s period covered only July 2023 to December 2023 (post-subsidiaries acquisition) compared to 2024 which covers the entire 12 months.

The attached Earnings Release document compares the 12-month period of 2024 to the complete 12-month period of 2023, highlighting a year-on-year net profit increase of SAR 357 million (515%), which is also disclosed in the additional financial information in Note 30 to the consolidated financial statements.

This growth is attributed to the improved financial performance of SHAHID, and the Broadcasting and Other Commercial Activities segment, supported by increased revenues from broadcasting and technical services contacts.

The net profit includes SAR 171 million, representing the net gain on sale of a stake in an investment in an associate. Statement of the type of external auditor's report Unmodified opinion Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) None. Reclassification of Comparison Items Certain reclassifications have been made to the prior period's financial statements to conform to the current year's presentation. These reclassifications had no effect on previously reported consolidated total comprehensive income, consolidated statement of changes in equity and consolidated statement of financial position. Additional Information Additional financial information is provided in Note 30 of the consolidated financial statements, presenting the Group’s full-year consolidated results of operations, with comparative figures for the prior year. Attached Documents  

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.