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First Avenue for Real Estate Development Co. 2024 Annual Results

Revenue

SAR 255M

Net Profit

SAR 59M

EPS

SAR 0.34

Operating Cash Flow

SAR 60M

First Avenue for Real Estate Development Co. (9610) reported full year 2024 revenue of SAR 255M, up 7.2% from SAR 238M in 2023. Net profit came in at SAR 59M, up 41.4% year on year. Earnings per share were SAR 0.34. The company generated SAR 60M 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 1.01 arrived as operating cash flow — indicating Exceptional quality earnings with a cash conversion ratio of 1.01.

Key Financial Metrics

Metric	2024	2023
Revenue	SAR 255M	SAR 238M
Net Profit	SAR 59M	SAR 42M
Net Margin	23.3%	17.6%
ROE	11.2%	12.8%
EPS	SAR 0.34	SAR 0.25
Total Assets	SAR 960M	SAR 499M
Total Equity	SAR 530M	SAR 328M
Total Liabilities	SAR 430M	SAR 171M
Operating Cash Flow	SAR 60M	SAR 97M

Year on Year Comparison

Revenue increased by 7.2% compared to 2023. Net profit increased by 41.4%. Both revenue and profit grew — indicating expanding business.

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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: 2025-03-17.