Reported Earnings • Aug 13
Second quarter 2026 earnings released: EPS: ر.س0.82 (vs ر.س1.00 in 2Q 2025) Second quarter 2026 results: EPS: ر.س0.82 (down from ر.س1.00 in 2Q 2025). Revenue: ر.س569.4m (down 2.2% from 2Q 2025). Net income: ر.س389.4m (down 18% from 2Q 2025). Profit margin: 68% (down from 81% in 2Q 2025). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Real Estate industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Jul 31
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ر.س2.47b to ر.س2.39b. EPS estimate also fell from ر.س2.45 per share to ر.س2.12 per share. Net income forecast to shrink 15% next year vs 18% growth forecast for Real Estate industry in Saudi Arabia . Consensus price target down from ر.س20.34 to ر.س19.58. Share price fell 3.9% to ر.س15.57 over the past week. Major Estimate Revision • Jul 29
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ر.س2.62b to ر.س2.39b. EPS estimate also fell from ر.س2.45 per share to ر.س2.06 per share. Net income forecast to shrink 12% next year vs 17% growth forecast for Real Estate industry in Saudi Arabia . Consensus price target down from ر.س20.34 to ر.س19.58. Share price fell 4.4% to ر.س15.53 over the past week. New Risk • Jul 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Price Target Changed • Jun 12
Price target decreased by 7.1% to ر.س21.30 Down from ر.س22.93, the current price target is an average from 6 analysts. New target price is 27% above last closing price of ر.س16.82. Stock is down 12% over the past year. The company is forecast to post earnings per share of ر.س2.26 for next year compared to ر.س2.67 last year. Duyuru • Jun 03
Arabian Centres Company, Annual General Meeting, Jun 30, 2026 Arabian Centres Company, Annual General Meeting, Jun 30, 2026, at 20:30 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 13
First quarter 2026 earnings released: EPS: ر.س0.43 (vs ر.س0.46 in 1Q 2025) First quarter 2026 results: EPS: ر.س0.43 (down from ر.س0.46 in 1Q 2025). Revenue: ر.س582.5m (down 1.3% from 1Q 2025). Net income: ر.س202.5m (down 6.7% from 1Q 2025). Profit margin: 35% (down from 37% in 1Q 2025). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Real Estate industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 6% per year. Reported Earnings • Apr 08
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: ر.س2.67 (up from ر.س2.56 in FY 2024). Revenue: ر.س2.29b (down 2.1% from FY 2024). Net income: ر.س1.27b (up 4.1% from FY 2024). Profit margin: 55% (up from 52% in FY 2024). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 9.3%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 24
Upcoming dividend of ر.س0.38 per share Eligible shareholders must have bought the stock before 01 October 2025. Payment date: 15 October 2025. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 6.5%. Within top quartile of Saudi dividend payers (5.5%). Higher than average of industry peers (2.7%). Duyuru • Aug 14
Arabian Centres Company announces Quarterly dividend, payable on October 15, 2025 Arabian Centres Company announced Quarterly dividend of SAR 0.3750 per share payable on October 15, 2025, ex-date on October 01, 2025 and record date on October 02, 2025. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: ر.س1.00 (vs ر.س0.74 in 2Q 2024) Second quarter 2025 results: EPS: ر.س1.00 (up from ر.س0.74 in 2Q 2024). Revenue: ر.س582.6m (flat on 2Q 2024). Net income: ر.س472.9m (up 34% from 2Q 2024). Profit margin: 81% (up from 61% in 2Q 2024). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. New Risk • Aug 11
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. New Risk • Aug 06
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. New Risk • Jul 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (10% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.9% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Duyuru • Jun 19
Arabian Centers Company Appoints Ahmed Demerdash Badrawi to Board of Directors, Effective June 19, 2025 Arabian Centres Company announced that Mr. Ahmed Demerdash Badrawi was elected to the board of directors for the upcoming term starting on 19 June 2025 and ending on 18 June 2029 for a period of Four Gregorian years. Upcoming Dividend • Jun 09
Upcoming dividend of ر.س0.38 per share Eligible shareholders must have bought the stock before 16 June 2025. Payment date: 03 July 2025. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 7.7%. Within top quartile of Saudi dividend payers (5.2%). Higher than average of industry peers (2.6%). Duyuru • Jun 04
Arabian Centres Company, Annual General Meeting, Jun 30, 2025 Arabian Centres Company, Annual General Meeting, Jun 30, 2025, at 20:15 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 21
First quarter 2025 earnings released: EPS: ر.س0.46 (vs ر.س0.38 in 1Q 2024) First quarter 2025 results: EPS: ر.س0.46 (up from ر.س0.38 in 1Q 2024). Revenue: ر.س590.6m (flat on 1Q 2024). Net income: ر.س216.9m (up 22% from 1Q 2024). Profit margin: 37% (up from 31% in 1Q 2024). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Real Estate industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Duyuru • May 13
Arabian Centres Company announces Quarterly dividend, payable on July 03, 2025 Arabian Centres Company announced Quarterly dividend of SAR 0.3750 per share payable on July 03, 2025, ex-date on June 16, 2025 and record date on June 17, 2025. Reported Earnings • Mar 22
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: EPS: ر.س2.56 (down from ر.س3.19 in FY 2023). Revenue: ر.س2.34b (up 4.5% from FY 2023). Net income: ر.س1.22b (down 19% from FY 2023). Profit margin: 52% (down from 68% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 14%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Real Estate industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Duyuru • Mar 12
Arabian Centres Company announces Quarterly dividend, payable on April 06, 2025 Arabian Centres Company announced Quarterly dividend of SAR 0.3750 per share payable on April 06, 2025, ex-date on March 13, 2025 and record date on March 16, 2025. New Risk • Nov 26
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 8.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (6.4% operating cash flow to total debt). Earnings are forecast to decline by an average of 8.1% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (101% cash payout ratio). Large one-off items impacting financial results. Reported Earnings • Nov 22
Third quarter 2024 earnings released: EPS: ر.س0.70 (vs ر.س0.60 in 3Q 2023) Third quarter 2024 results: EPS: ر.س0.70 (up from ر.س0.60 in 3Q 2023). Revenue: ر.س585.7m (up 3.3% from 3Q 2023). Net income: ر.س334.6m (up 17% from 3Q 2023). Profit margin: 57% (up from 51% in 3Q 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Real Estate industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Major Estimate Revision • Oct 10
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from ر.س2.49b to ر.س2.42b. EPS estimate rose from ر.س1.81 to ر.س2.03. Net income forecast to shrink 33% next year vs 14% growth forecast for Real Estate industry in Saudi Arabia . Consensus price target of ر.س23.93 unchanged from last update. Share price fell 3.8% to ر.س20.30 over the past week. Buy Or Sell Opportunity • Oct 03
Now 20% undervalued Over the last 90 days, the stock has risen 5.2% to ر.س21.10. The fair value is estimated to be ر.س26.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to decline by 22% in the next 2 years. Buy Or Sell Opportunity • Sep 08
Now 20% undervalued Over the last 90 days, the stock has risen 5.9% to ر.س21.84. The fair value is estimated to be ر.س27.32, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.4% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 29% in 2 years. Earnings are forecast to decline by 22% in the next 2 years. Reported Earnings • Aug 16
Second quarter 2024 earnings released: EPS: ر.س0.74 (vs ر.س0.71 in 2Q 2023) Second quarter 2024 results: EPS: ر.س0.74 (up from ر.س0.71 in 2Q 2023). Revenue: ر.س586.5m (up 4.5% from 2Q 2023). Net income: ر.س353.1m (up 4.3% from 2Q 2023). Profit margin: 60% (in line with 2Q 2023). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Real Estate industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Duyuru • Jun 10
Arabian Centres Company, Annual General Meeting, Jun 30, 2024 Arabian Centres Company, Annual General Meeting, Jun 30, 2024, at 20:00 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 25
First quarter 2024 earnings released: EPS: ر.س0.38 (vs ر.س0.81 in 1Q 2023) First quarter 2024 results: EPS: ر.س0.38 (down from ر.س0.81 in 1Q 2023). Revenue: ر.س585.8m (up 2.1% from 1Q 2023). Net income: ر.س185.6m (down 52% from 1Q 2023). Profit margin: 32% (down from 67% in 1Q 2023). Revenue is forecast to grow 9.8% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 05
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: EPS: ر.س3.19 (up from ر.س2.34 in FY 2022). Revenue: ر.س2.25b (flat on FY 2022). Net income: ر.س1.51b (up 37% from FY 2022). Profit margin: 67% (up from 50% in FY 2022). Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 133%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • Mar 28
Dividend of ر.س0.75 announced Shareholders will receive a dividend of ر.س0.75. Ex-date: 2nd April 2024 Payment date: 16th April 2024 Dividend yield will be 6.3%, which is higher than the industry average of 3.9%. Sustainability & Growth Dividend is covered by both earnings (78% earnings payout ratio) and cash flows (70% cash payout ratio). The dividend has increased over the past 4 years. However, payments have been volatile during that time. EPS is expected to decline by 6.1% over the next 3 years. However, it would need to fall by 14% to increase the payout ratio to a potentially unsustainable range. Price Target Changed • Mar 27
Price target decreased by 7.3% to ر.س22.27 Down from ر.س24.02, the current price target is an average from 3 analysts. New target price is 13% below last closing price of ر.س25.70. Stock is up 27% over the past year. The company is forecast to post earnings per share of ر.س1.37 for next year compared to ر.س2.34 last year. Reported Earnings • Nov 16
Third quarter 2023 earnings released: EPS: ر.س0.60 (vs ر.س0.54 in 3Q 2022) Third quarter 2023 results: EPS: ر.س0.60 (up from ر.س0.54 in 3Q 2022). Revenue: ر.س567.7m (down 1.1% from 3Q 2022). Net income: ر.س286.5m (up 11% from 3Q 2022). Profit margin: 51% (up from 45% in 3Q 2022). Revenue is forecast to grow 9.4% p.a. on average during the next 5 years, compared to a 8.5% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: ر.س0.71 (vs ر.س0.39 in 2Q 2022) Second quarter 2023 results: EPS: ر.س0.71 (up from ر.س0.39 in 2Q 2022). Revenue: ر.س565.3m (flat on 2Q 2022). Net income: ر.س338.7m (up 85% from 2Q 2022). Profit margin: 60% (up from 33% in 2Q 2022). Revenue is forecast to grow 8.7% p.a. on average during the next 5 years, compared to a 8.9% growth forecast for the Real Estate industry in Asia. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. New Risk • Jun 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.02% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.02% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Duyuru • May 09
Arabian Centres in Discussion with Fawaz Abdulaziz Alhokair Co on Potential Merger Arabian Centres Company (SASE:4321) announced that it is in discussions With Fawaz Abdulaziz Al Hokair & Company (Cenomi Retail) (SASE:4240) On A Potential Combination Of Two Companies. Discussions remain at an early stage and parties have not yet reached an agreement. Major Estimate Revision • Mar 22
Consensus EPS estimates increase by 20% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from ر.س1.40 to ر.س1.67. Revenue forecast steady at ر.س2.29b. Net income forecast to grow 148% next year vs 11% growth forecast for Real Estate industry in Saudi Arabia. Consensus price target broadly unchanged at ر.س23.00. Share price was steady at ر.س19.76 over the past week. Upcoming Dividend • Jan 16
Upcoming dividend of ر.س0.75 per share Eligible shareholders must have bought the stock before 23 January 2023. Payment date: 12 February 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.3%. Within top quartile of Saudi dividend payers (4.7%). Higher than average of industry peers (4.2%). Duyuru • Jan 02
Arabian Centres Company Announces Cash Dividends for the First Half Ended 30 September 2022, Payable on 12 February 2023 Arabian Centres Company announced cash dividends for the first half ended 30 September 2022 of SAR 0.75 per share. The Total amount distributed is SAR 356.25 million. Eligibility date is 22 January 2023. Distribution date is 12 February 2023. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 1 independent director. 8 non-independent directors. Independent Director Abdulrahman Al Tuwaijri was the last independent director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Aug 24
First quarter 2023 earnings released: EPS: ر.س0.27 (vs ر.س0.27 in 1Q 2022) First quarter 2023 results: EPS: ر.س0.27 (down from ر.س0.27 in 1Q 2022). Revenue: ر.س561.3m (up 9.9% from 1Q 2022). Net income: ر.س126.0m (flat on 1Q 2022). Profit margin: 22% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 13%, compared to a 17% growth forecast for the Real Estate industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Board Change • Aug 15
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 7 non-independent directors. Independent Director Abdulrahman Al Tuwaijri was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Jul 04
Arabian Centres Co. Announces Cash Dividend for Second Half Ended 31 March 2022, Payable on 26 July 2022 Arabian Centres Co. announced that its Board of Directors decision to distribute cash dividend of SAR 0.75 per share to the shareholders for the second half of fiscal year 2022 ended on 31 March 2022. Eligibility date is 05 July 2022 and Distribution Date is 26 July 2022. Duyuru • Jun 21
Arabian Centres Co. Announces Executive Changes Arabian Centres Co. at AGM on 16 June 2022 approved the appointment of Abdulmajeed bin Abdullah Albasri, Turki Saud Al-Dayel, Khalid Abdullah Al-Suwailem and Johan Henri Brand as directors. The company also approved the formation of the Audit Committee, commencing from 19 June 2022 and appoints Turki Saud Al-Dayel, Fahad Ibrahim Al-Khorayef and Wissam Zouhair Mekahal. The company approving the BoD decision to appoint Mr. Mohamad Rafic Mourad (Executive member), replacing the resigned member Mr. Omar Hadir Al-Farisi, starting from his appointment on 01 January 2022 until the end of the current board term on 18 June 2022. Duyuru • Jun 17
Arabian Centres Company Announces Executive Changes Arabian Centres Company has appointed Alison Rehill-Erguven as the company's CEO effective from 21 August 2022. Until 20 August, the company will continue to delegate Mohamad Mourad as the acting CEO. With more than 20 years of shopping mall and real estate experience, Rehill-Erguven has managed several prominent emerging markets across Asia, Europe, and Latin America. Before joining Arabian Centres, the new CEO occupied the position of head of commercial real estate of Shanghai-based Brookfield Properties. Duyuru • May 25
Arabian Centres Company, Annual General Meeting, Jun 16, 2022 Arabian Centres Company, Annual General Meeting, Jun 16, 2022, at 16:30 Coordinated Universal Time. Agenda: To elect the board members from the candidates for the next term, commencing from 19 June 2022, for a term of three Gregorian years, ending on 18 June 2025; to consider formation of the Audit Committee, commencing from 19 June 2022, for a term of three Gregorian years, ending on 18 June 2025, and on the definition of its duties, work regulations and remuneration of its members; and to appoint Mr. Mohamad Rafic Mourad (Executive member), replacing the resigned member Mr. Omar Hadir Al-Farisi (Independent member), starting from his appointment on 01 January 2022 until the end of the current board term at 18 June 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Benny Higgins was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 16
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ر.س0.24 (up from ر.س0.20 in 3Q 2021). Revenue: ر.س510.6m (up 9.4% from 3Q 2021). Net income: ر.س111.9m (up 17% from 3Q 2021). Profit margin: 22% (up from 20% in 3Q 2021). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 10.0%. Over the next year, revenue is forecast to grow 13%, compared to a 17% growth forecast for the industry in Saudi Arabia. Reported Earnings • Aug 30
First quarter 2022 earnings released: EPS ر.س0.27 (vs ر.س0.32 in 1Q 2021) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2022 results: Revenue: ر.س510.7m (up 6.9% from 1Q 2021). Net income: ر.س126.6m (down 17% from 1Q 2021). Profit margin: 25% (down from 32% in 1Q 2021). Reported Earnings • Jun 30
Full year 2021 earnings released: EPS ر.س1.03 (vs ر.س1.35 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ر.س1.86b (down 16% from FY 2020). Net income: ر.س486.7m (down 23% from FY 2020). Profit margin: 26% (down from 29% in FY 2020). Upcoming Dividend • Jun 27
Upcoming dividend of ر.س0.75 per share Eligible shareholders must have bought the stock before 04 July 2021. Payment date: 15 July 2021. Trailing yield: 4.8%. Within top quartile of Saudi dividend payers (4.4%). Higher than average of industry peers (3.4%). Major Estimate Revision • May 12
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate fell from ر.س1.09 to ر.س0.93 per share. Revenue forecast steady at ر.س1.87b. Net income forecast to grow 11% next year vs 24% growth forecast for Real Estate industry in Saudi Arabia. Consensus price target of ر.س24.52 unchanged from last update. Share price rose 2.2% to ر.س26.00 over the past week. Duyuru • Apr 29
Arabian Centres Co. Announces Cash Dividend for the Second Half Ended March 31, 2021, Payable on July 15, 2021 Arabian Centres Co. announced that its Board of Directors decision to distribute cash dividend of SAR 0.75 per share to the shareholders for the second half of fiscal year 2021 ended on 31 March 2021. Eligibility date is 01 July 2021 and Distribution Date is 15 July 2021. Reported Earnings • Feb 10
Third quarter 2021 earnings released: EPS ر.س0.20 (vs ر.س0.23 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2021 results: Revenue: ر.س469.4m (down 16% from 3Q 2020). Net income: ر.س95.4m (down 12% from 3Q 2020). Profit margin: 20% (up from 19% in 3Q 2020). The increase in margin was driven by lower expenses. Analyst Estimate Surprise Post Earnings • Feb 10
Revenue and earnings miss expectations Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) also missed analyst estimates by 18%. Over the next year, revenue is forecast to stay flat compared to a 26% growth forecast for the Real Estate industry in Saudi Arabia. Duyuru • Feb 01
Arabian Centers Co. Announces the Signing of an Agreement with Quara Finance Company to Support Its Tenants from the SMEs Segment Arabian Centers Company announced that it signed, on Thursday 28 January 2021, an agreement with "Quara Finance Company" to support and finance Small and Medium Enterprises (SMEs) who run businesses in ACC centers. Is New 90 Day High Low • Feb 01
New 90-day low: ر.س23.48 The company is down 2.0% from its price of ر.س24.00 on 03 November 2020. The Saudi market is up 4.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ر.س21.26 per share. Is New 90 Day High Low • Dec 07
New 90-day low: ر.س23.60 The company is down 14% from its price of ر.س27.30 on 08 September 2020. The Saudi market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ر.س19.98 per share. Duyuru • Nov 26
Arabian Centres Co. Announces Amendment to Its Land Lease Contract for U Walk Jeddah Arabian Centres Company announced on 24 November 2020 the successful conclusion of negotiations with the heirs of Her Highness Princess Munira bint Abdulaziz Al Jiluwi Al Saud (“the first party”) to sign an annex to the Company’s lease contract for the U Walk Jeddah Centre (formerly named Zahra Mall) to amend some its provisions, where the most noteworthy amendments were: The reduction of the total value of land rent over the lifetime of the contract from SAR 1.785 billion to SAR 1.075 billion – a reduction of SAR 620 million; and Amending the start date of the lease period to begin from 01 August 2022 and to end on 31 July 2052. Price Target Changed • Nov 06
Price target lowered to ر.س23.23 Down from ر.س25.23, the current price target is an average from 4 analysts. The new target price is close to the current share price of ر.س23.72. As of last close, the stock is down 17% over the past year. Analyst Estimate Surprise Post Earnings • Nov 05
Revenue and earnings miss expectations Revenue missed analyst estimates by 6.0%. Earnings per share (EPS) also missed analyst estimates by 18%. Over the next year, revenue is forecast to grow 3.8%, compared to a 24% growth forecast for the Real Estate industry in Saudi Arabia. Reported Earnings • Nov 05
Second quarter 2021 earnings released: EPS ر.س0.23 The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ر.س464.8m (down 17% from 2Q 2020). Net income: ر.س109.0m (down 47% from 2Q 2020). Profit margin: 24% (down from 37% in 2Q 2020). The decrease in margin was driven by lower revenue. Major Estimate Revision • Nov 03
Analysts update estimates The 2021 consensus revenue estimate was lowered from ر.س2.29b to ر.س2.03b. Earning per share (EPS) estimate was unchanged from the last update at -ر.س0.24. The Real Estate industry in Saudi Arabia is expected to see an average net income growth of 21% next year. The consensus price target was lowered from ر.س25.23 to ر.س22.98. Share price is down by 3.0% to ر.س24.18 over the past week. Price Target Changed • Nov 03
Price target lowered to ر.س22.98 Down from ر.س25.23, the current price target is an average from 4 analysts. The new target price is close to the current share price of ر.س24.18. As of last close, the stock is down 15% over the past year. Duyuru • Oct 02
Arabian Centres Company Approves the Audit Committee Arabian Centres Company at its AGM in September 30, 2020 approved the formation of the Audit Committee for its upcoming new term and its work guidelines, tasks and its membership remuneration, which shall start from the date of this AGM on 30/09/2020 till the end of the current BoD term on 18/06/2022. Noting that the members are: Dr. Bernard Higgins; Mr. Nadim Mustafa Shabsogh; Mr. Fahad Ibrahim Al-Khorayef.