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First Avenue for Real Estate Development Co. 2022 Annual Results

Revenue

SAR 205M

Net Profit

SAR 43M

EPS

SAR 4.18

Operating Cash Flow

SAR 37M

First Avenue for Real Estate Development Co. (9610) reported full year 2022 revenue of SAR 205M, down 6.0% from SAR 218M in 2021. Net profit came in at SAR 43M, down 15.6% year on year. Earnings per share were SAR 4.18. The company generated SAR 37M in operating cash flow. All figures sourced from CMA-mandated XBRL filings on the Saudi Exchange, processed by Sahm Screener.

Earnings Quality

Of every SAR 1.00 in reported net profit, SAR 0.86 arrived as operating cash flow — indicating High quality earnings with a cash conversion ratio of 0.86.

Key Financial Metrics

Metric	2022	2021
Revenue	SAR 205M	SAR 218M
Net Profit	SAR 43M	SAR 51M
Net Margin	20.9%	23.3%
ROE	15.2%	41.7%
EPS	SAR 4.18	SAR 5.84
Total Assets	SAR 415M	SAR 195M
Total Equity	SAR 282M	SAR 121M
Total Liabilities	SAR 134M	SAR 74M
Operating Cash Flow	SAR 37M	SAR 220M

Year on Year Comparison

Revenue decreased by 6.0% compared to 2021. Net profit decreased by 15.6%. Both revenue and profit declined year on year.

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2024 2023 2022 2021

Financial data sourced from CMA-mandated XBRL filings published on the Saudi Exchange (Tadawul). Data processed and structured by Sahm Screener (sahmscreener.com). Updated nightly. Last updated: 2025-03-20.