Makkah Construction and Development (4100) Q3 2025 earnings summary

Executive summary

• Interim results for the nine months ended September 30, 2025, show record revenue and profit growth year-over-year, with revenues up 34% and net income up 17%, driven by strong core operations and asset optimization.

• Strategic focus on maximizing returns from existing assets, including hotel renovations and shopping center enhancements.

• Comprehensive income was impacted by unrealized losses on financial assets, but operational performance remained robust.

• On track for record profitability for the full year 2025.

Financial highlights

• Revenue for the nine months was SAR 907.9 million, up from SAR 677.4 million year-over-year (+34%).

• Net profit for the nine months reached SAR 379.7 million, up from SAR 325.4 million in the prior year period (+17%).

• EBITDA for 9M 2025 was SAR 418 million, up 14% year-over-year.

• Basic and diluted EPS for the nine months was SAR 1.90, up from SAR 1.63 year-over-year.

• Cash and cash equivalents at period end were SAR 819.7 million, up from SAR 283.2 million a year earlier.

Outlook and guidance

• Management remains confident in the company’s ability to continue as a going concern, with sufficient resources and robust liquidity for near-term operations.

• Revenue is expected to remain seasonal, with peaks during Hajj, Umrah, and summer vacation periods.

• Asset enhancement initiatives, including hotel renovations, are expected to further improve returns and operational metrics.