Tadawul Group’s 9M net profit up 70% to SAR 505.7M; Q3 at SAR 140.4M

20/10/2024 Argaam Exclusive
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Saudi Tadawul Group Holding Co. reported a net profit of SAR 505.7 million in the first nine months of 2024, a 70% surge compared to SAR 298.3 million in a year earlier period.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Revenues 790.72 1,100.23 39.1 %
Gross Income 462.78 692.15 49.6 %
Operating Income 261.84 461.54 76.3 %
Net Income 298.29 505.70 69.5 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items 2.31 4.21 82.3 %
EPS (Riyals) 2.49 4.21 69.5 %

This was spurred by a 39.1% increase year-on-year (YoY) in operating revenue to SAR 1.1 billion in the first nine months of 2024, gross profit rose 49.6% YoY to SAR 692.1 million, and operating profit jumped 76.3% YoY to SAR 461.5 million.

 

Meanwhile, operating expenditure rose 20.8% YoY to SAR 638.7 million.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Revenues 297.72 359.14 20.6 %
Gross Income 170.74 212.21 24.3 %
Operating Income 97.00 123.60 27.4 %
Net Income 102.28 140.35 37.2 %
Average Shares 120.00 120.00 -
Earnings Per Share before unusual items 0.85 1.17 37.2 %
EPS (Riyals) 0.85 1.17 37.2 %

Q3 2024 net earnings jumped 37% YoY to SAR 140.4 million from SAR 102.28 million, as operating revenue increased 20.6% YoY to SAR 359.1 million on higher revenue from trading and post-trading services.

 

Operating expenditure rose 17.3% YoY to SAR 235.5 million, primarily due to the rise in workforce cost.

 

On a sequential basis, net profit dropped 14.3% from SAR 163.8 million.

 

Total shareholders’ equity, after minority interest, reached SAR 3.36 billion by Sept. 30, 2024, compared to SAR 3.08 billion a year earlier.

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Share Price

Saudi Tadawul Group Holding Co.
204.00
0.80 0.39 %

Saudi Tadawul Group Holding Co. (TADAWUL GROUP)

1 Day 0.39 % 5 Days (3.77 %) 3 Months (6.59 %) 6 Months (12.45 %) Year (25.71 %) 2 Years 42.46 % 5 Years 72.88 % All 72.88 %
Created with Highstock 6.0.710:1010:3010:4010:5011:1011:2011:3011:4012:0012:1012:2012:4013:0013:1013:2013:3013:4013:5014:0014:1014:2014:3014:4014:5015:1020.7520.820.8520.920.952121.0521.121.15
Close : 21.00 | Mar 27, 15:17
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Financial Ratios
Current
Market Cap (M Riyal) 24,480.00
Enterprise Value (EV) (M) 21,883.18
Shares Outstanding ((M)) 120.00
EPS ( Riyal) (TTM) 5.18
Book Value (BV) ( Riyal) 29.10
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 39.37
P/E (TTM) 39.37
Price/book 7.01
Return on Average Assets (%) (TTM) 7.4
Return on Average Equity (%) (TTM) 11.1
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