Dar Al Majed Real Estate Co. announces its Interim Financial results for the Period Ending on 2025-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 217,032,219 | 324,680,601 | -33.155 | 424,623,539 | -48.888 |
| Gross Profit (Loss) | 79,048,603 | 79,820,801 | -0.967 | 134,740,350 | -41.332 |
| Operational Profit (Loss) | 49,859,502 | 56,966,587 | -12.475 | 110,999,920 | -55.081 |
| Net profit (Loss) | 37,326,054 | 76,410,409 | -51.15 | 114,077,817 | -67.28 |
| Total Comprehensive Income | 25,293,725 | 76,198,911 | -66.805 | 112,573,776 | -77.531 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 910,080,532 | 1,007,293,271 | -9.65 |
| Gross Profit (Loss) | 353,600,804 | 253,165,708 | 39.671 |
| Operational Profit (Loss) | 285,801,949 | 196,484,467 | 45.457 |
| Net profit (Loss) | 267,142,365 | 223,285,159 | 19.641 |
| Total Comprehensive Income | 269,210,421 | 229,988,692 | 17.053 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,127,419,934 | 809,946,390 | 39.196 |
| Profit (Loss) per Share | 0.83 | 0.61 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | 54,039,533 | 18 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Despite a 13% increase in real estate unit sales during the current quarter compared to the same quarter of the previous year, total revenues decreased by 33%, as the revenues of the corresponding quarter of the previous year included land sale revenues amounting to SAR 129 million. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The company achieved a net profit of SAR 37.3 million during the current quarter, representing a decrease of SAR 39 million compared to the same quarter of the previous year. The main reasons for this decline are as follows:
1. Non-recurring expenses amounting to SAR 12 million were recorded during the current quarter, related to brand identity development. 2. A gain of SAR 12.3 million was recognized from the sale of an investment in an associate company in the corresponding quarter of the previous year. 3. Increase in finance costs during the current quarter by SAR 23.5 million, related to projects under the off-plan sales program.
However, net profit in the current quarter was positively impacted by an increase in profits from real estate unit sales amounting to SAR 22 million, in addition to a decrease in general and administrative expenses by approximately SAR 6 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Despite a 30% increase in real estate unit sales during the current quarter compared to the previous quarter, total revenues decreased by 48.8%, as the revenues of the previous quarter included land sale revenues amounting to SAR 242.2 million. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The company achieved a net profit of SAR 37.3 million during the current quarter, representing a decrease of SAR 76.7 million compared to the previous quarter. The main reason for this decline is that the previous quarter’s profit included land sale revenues amounting to SAR 72 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The company achieved revenues of SAR 910 million during the current period, representing a decrease of SAR 97.2 million compared to the same period of the previous year. The main reasons for this decline are as follows:
1. Although the number of units sold increased, revenues from real estate unit sales decreased due to the shift toward off-plan sales.
It is worth noting that the company achieved a 144% increase in land sale revenues during the current period compared to the same period of the previous year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The company achieved a net profit of SAR 267.1 million, reflecting a growth rate of 20% compared to the same period of the previous year. This increase is mainly attributable to higher profits from land sales in addition to gains from the revaluation of investment properties.
It is worth noting that the company also achieved growth in the number of units sold during the current period through the off-plan sales model. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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 comparative figures for the previous period have been reclassified to conform with the presentation for the current period. |
| Additional Information | - |
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