Dar Al Arkan Real Estate Development Full Year 2023 Earnings: Misses Expectations

Dar Al Arkan Real Estate Development (TADAWUL:4300) Full Year 2023 Results

Key Financial Results

• Revenue: ر.س2.71b (down 31% from FY 2022).
• Net income: ر.س610.8m (up 38% from FY 2022).
• Profit margin: 23% (up from 11% in FY 2022). The increase in margin was driven by lower expenses.
• EPS: ر.س0.57 (up from ر.س0.41 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Dar Al Arkan Real Estate Development Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 19%. Earnings per share (EPS) also missed analyst estimates by 2.5%.

Looking ahead, revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 7.9% growth forecast for the Real Estate industry in Asia.

Performance of the market in Saudi Arabia.

The company's shares are down 4.3% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of Dar Al Arkan Real Estate Development's balance sheet and an in-depth analysis of the company's financial position.

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