Tadawul Group 2021 profit rises 17% to SAR 587.7 mln; Q4 earnings down 28%
Saudi Tadawul Group Holding Co. (Tadawul Group) reported a net profit after Zakat and tax of SAR 587.7 million in 2021, up 17% from SAR 500.5 million in the year-ago period.
Financials (M)
Item | 2020 | 2021 | Change |
---|---|---|---|
Revenues | 1,079.64 | 1,166.08 | 8.0 % |
Gross Income | 754.40 | 834.29 | 10.6 % |
Operating Income | 543.16 | 613.57 | 13.0 % |
Net Income | 500.52 | 587.69 | 17.4 % |
Average Shares | 120.00 | 120.00 | - |
EPS (Riyals) | 4.17 | 4.90 | 17.4 % |
The profit was driven by an 8.01% year-on-year (YoY) increase in operating revenues due to the solid growth in trading services, post-trade services and listing fees.
The group’s gross profit increased 8.7% YoY in 2021 due to higher operating revenues. In addition, Zakat expenses decreased by 20.7% because of the optimization of the group’s financial assets in 2021.
The company reported a net profit after Zakat and tax of SAR 110.5 million in Q4 2021, a decline of 28% YoY.
Current Quarter Comparison (M)
Item | Q4 2020 | Q4 2021 | Change |
---|---|---|---|
Revenues | 382.14 | 257.54 | (32.6 %) |
Gross Income | 302.68 | 184.53 | (39.0 %) |
Operating Income | 226.01 | 110.57 | (51.1 %) |
Net Income | 153.59 | 110.46 | (28.1 %) |
Average Shares | 120.00 | 120.00 | - |
EPS (Riyals) | 1.28 | 0.92 | (28.1 %) |
On a sequential basis, Q4 2021 net profit decreased 4.1%.
Shareholders' equity, excluding minority interest, at the end of the period amounted to SAR 3.092 billion, compared to SAR 3.634 billion in the same period of the previous year.
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Share Price
Saudi Tadawul Group Holding Co. (TADAWUL GROUP)
Current | |
Market Cap (M Riyal) | 26,040.00 |
Enterprise Value (EV) (M) | 22,809.21 |
Shares Outstanding ((M)) | 120.00 |
EPS ( Riyal) (TTM) | 4.98 |
Book Value (BV) ( Riyal) | 28.07 |
Par Value ( Riyal) | 10.00 |
Adjusted P/E (Last12) | 43.58 |
P/E (TTM) | 43.58 |
Price/book | 7.73 |
Return on Average Assets (%) (TTM) | 7.0 |
Return on Average Equity (%) (TTM) | 18.5 |
Financial results (Million)
Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
---|---|---|---|---|---|---|
Q1 2021 | 332.37 | 97.5 % | 240.10 | 174.2 % | 194.62 | 313.9 % |
Q2 2021 | 313.54 | 17.4 % | 231.19 | 18.1 % | 175.87 | 23.2 % |
Q3 2021 | 262.64 | 0.2 % | 178.48 | 6.0 % | 130.30 | 2.3 % |
Q4 2021 | 257.54 | (32.6 %) | 184.53 | (39.0 %) | 110.57 | (51.1 %) |
2021 | 1,166.08 | 8.0 % | 834.29 | 10.6 % | 613.57 | 13.0 % |
Profit Performance (Million)
Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
---|---|---|---|---|---|---|
Q1 2021 | 179.64 | 181.3 % | 1.50 | - | 179.64 | 1.50 |
Q2 2021 | 181.07 | 20.6 % | 1.51 | - | 181.07 | 1.51 |
Q3 2021 | 115.19 | (13.4 %) | 0.96 | - | 115.19 | 0.96 |
Q4 2021 | 110.46 | (28.1 %) | 0.92 | - | 110.46 | 0.92 |
2021 | 587.69 | 17.4 % | 4.90 | - | 587.69 | 4.90 |
Profitability
Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
---|---|---|---|
Q1 2021 | 72.92 % | 57.46 % | 49.55 % |
Q2 2021 | 73.04 % | 59.06 % | 50.17 % |
Q3 2021 | 73.79 % | 59.52 % | 48.77 % |
Q4 2021 | 71.55 % | 56.09 % | 50.28 % |
2021 | 71.55 % | 57.51 % | 50.40 % |
Per Share Data (Riyal)
Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
---|---|---|---|---|
Q1 2021 | 120.00 | 5.14 | 5.14 | 31.79 |
Q2 2021 | 120.00 | 5.39 | 5.39 | 23.97 |
Q3 2021 | 120.00 | 5.25 | 5.25 | 24.93 |
Q4 2021 | 120.00 | 4.89 | 4.89 | 25.77 |
Multiple Ratios (End of Period Price)
Period | P/E | Adjusted P/E | Price/book |
---|---|---|---|
Q1 2021 | - | - | - |
Q2 2021 | - | - | - |
Q3 2021 | - | - | - |
Q4 2021 | 25.75 | 25.75 | 4.88 |
Business Segments (Million)
Q4 2021
Period | Post Trade | Capital Markets | Data and technology services |
---|---|---|---|
Q1 2021 | 163.48 | 145.04 | 23.85 |
Q2 2021 | 154.76 | 135.08 | 23.69 |
Q3 2021 | 136.13 | 103.26 | 23.24 |
Q4 2021 | 128.60 | 106.46 | 22.48 |
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