Jabal Omar Development Company (4250) Q1 2025 earnings summary

Executive summary

• Reported net profit of SR 945.9 million for Q1 2025, a significant increase from SR 19.0 million in Q1 2024, driven by a major land sale gain.

• Revenue rose to SR 747.7 million, up 26% year-over-year, with strong performance in hotel operations and property sales.

• Basic and diluted EPS increased to SR 0.80 from SR 0.02 year-over-year.

• The company continues to focus on hotel operations, commercial centers, and property development in Makkah.

Financial highlights

• Revenue: SR 747.7 million (Q1 2025) vs. SR 592.9 million (Q1 2024), up 26%.

• Net profit: SR 945.9 million (Q1 2025) vs. SR 19.0 million (Q1 2024), mainly due to a SR 918.3 million gain on land sale.

• Gross profit: SR 331.9 million (Q1 2025) vs. SR 254.3 million (Q1 2024).

• Operating profit: SR 1,072.4 million (Q1 2025) vs. SR 178.6 million (Q1 2024).

• Cash and cash equivalents at period end: SR 1,773.0 million, up from SR 887.1 million at year-end 2024.

Outlook and guidance

• Management expects further property sales in 2025, with anticipated gains from pending transactions in Phase 5.

• Cash flow forecasts for the next 12 months indicate a net positive position, supporting ongoing operations and debt service.