Recent Research

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  FIRST LOOK NOTES

  23 Apr 2025

  Jarir Marketing Co

  BUY

  Last Closing Price

  SAR 12.60

  Target Price

  SAR 14.50

  Upside (%)

  +15.08%

  Saudi Equity Research - Jarir Marketing Company 1Q25 - First Look Note

  Revenue rose 2.7% YOY to SAR 2,720 Mn in 1Q25 due to growth in the smartphone and after-sales service segment. Gross margin remained flat at 11.1% in 1Q25 compared to 1Q24. Operating profit declined 0.8% YOY to SAR 236 Mn in 1Q25 due to a rise in selling and marketing expenses. Operating margins fell 30 bps YOY to 8.7% in 1Q25.

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• 

  FIRST LOOK NOTES

  22 Oct 2024

  Jarir Marketing Co

  BUY

  Last Closing Price

  SAR 13.30

  Target Price

  SAR 15.50

  Upside (%)

  +16.54%

  Saudi Equity Research - Jarir Marketing Company 3Q24 - First Look Note

  Discounts from smartphone vendors benefitted the bottom line

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• 

  FIRST LOOK NOTES

  19 Jul 2024

  Jarir Marketing Co

  BUY

  Last Closing Price

  SAR 13.24

  Target Price

  SAR 15.50

  Upside (%)

  +17.07%

  Improvement in sales mix drives top-line

  The Company’s revenue increased 8.8% YOY to SAR 2,650 Mn in 2Q24 attributable to a growth in the sale of smartphones, computers, televisions, and video games.

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• 

  FIRST LOOK NOTES

  25 Apr 2024

  Jarir Marketing Co

  BUY

  Last Closing Price

  SAR 13.90

  Target Price

  SAR 16.50

  Upside (%)

  +18.71%

  Expansion of the showroom network to drive revenue growth

  Jarir Marketing Co (“JARIR”, “The Company”) reported an 11.5% YOY decline in net profit to SAR 219 Mn in 1Q24, lower than our estimate of SAR 244 Mn.

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• 

  FIRST LOOK NOTES

  05 Feb 2024

  Jarir Marketing Co

  BUY

  Last Closing Price

  SAR 15.20

  Target Price

  SAR 17.50

  Upside (%)

  +15.13%

  Strong revenue growth and higher operating profit offset the decline in margins

  Jarir’s revenue grew 8.7% YOY to SAR 2,802 Mn in 4Q23, attributable to growth in the sales of video games, smartphones and computer segments.

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• 

  FIRST LOOK NOTES

  13 Oct 2023

  Jarir Marketing Co

  BUY

  Last Closing Price

  SAR 14.96

  Target Price

  SAR 17.50

  Upside (%)

  +16.98%

  Lower expenses on advertisement and promotional offers boosted profit

  Jarir’s revenue grew 4.8% YOY to SAR 2,639 Mn in 3Q23 attributable to growth in all the segments, particularly in computer and video game sections.The Company opened new store in Jeddah with a total area of 4,340 sq mt after which its total store count reached to total of 71 stores of which 61 store are located in KSA

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