BinDawood Holding profit rises 2% to SAR 280.3M in 2024; Q4 at SAR 109.7M

BinDawood Holding profit rises 2% to SAR 280.3M in 2024; Q4 at SAR 109.7M

18/02/2025 Argaam Exclusive

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BinDawood Holding Co. reported a net profit before minority interest of SAR 280.3 million for 2024, up 2% from SAR 275.1 million in the previous year.


Financials (M)

Item 2023 2024 Change‬
Revenues 5,602.93 5,677.69 1.3 %
Gross Income 1,809.79 1,893.78 4.6 %
Operating Income 354.27 369.06 4.2 %
Net Income 275.07 280.25 1.9 %
Average Shares 1,143.00 1,143.00 -
Earnings Per Share before unusual items 0.25 0.25 (1.3 %)
EPS (Riyals) 0.24 0.25 1.9 %

The company posted a 1.3% revenue growth to SAR 5.67 billion in 2024, compared to SAR 5.60 billion in 2023. The profit growth was driven by the contribution of sales from new openings, positive like-for-like growth from point-of-sale customers, data-driven decisions from the loyalty program, and the contribution of sales from Jumeirah Trading Co. and Future Retail Tech, the company said in a statement to Tadawul.

 

The fourth-quarter net profit was down 11% to SAR 109.7 million, compared to SAR 123 million in the same period last year.

 

On a sequential basis, Q4 2024 net earnings soared 213.3% from SAR 35 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 1,451.40 1,425.59 (1.8 %)
Gross Income 520.25 512.80 (1.4 %)
Operating Income 132.30 127.33 (3.8 %)
Net Income 123.00 109.66 (10.8 %)
Average Shares 1,143.00 1,143.00 -
Earnings Per Share before unusual items 0.11 0.10 (10.8 %)
EPS (Riyals) 0.11 0.10 (10.8 %)

Shareholders’ equity (after minority interest) amounted to SAR 1.39 billion by the end of 2024, compared to SAR 1.39 billion in the prior-year period.



Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items Earnings Per Share before unusual items
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 69.15 - 0.06 - 69.15 0.06
Q2 2019 101.64 - 0.09 - 101.64 0.09
Q3 2019 124.47 - 0.11 - 124.47 0.11
Q4 2019 123.87 - 0.11 - 123.87 0.11
Q1 2020 126.26 82.6 % 0.11 - 126.26 0.11
Q2 2020 185.42 82.4 % 0.16 - 185.42 0.16
Q3 2020 78.65 (36.8 %) 0.07 14.90 63.75 0.06
Q4 2020 57.39 (53.7 %) 0.05 12.69 44.70 0.04
Q1 2021 62.12 (50.8 %) 0.05 - 62.12 0.05
Q2 2021 94.99 (48.8 %) 0.08 - 94.99 0.08
Q3 2021 70.24 (10.7 %) 0.06 3.57 66.68 0.06
Q4 2021 13.22 (77.0 %) 0.01 61.16 (47.94) (0.04)
Q1 2022 65.46 5.4 % 0.06 17.15 48.31 0.04
Q2 2022 42.34 (55.4 %) 0.04 - 42.34 0.04
Q3 2022 (48.26) (168.7 %) (0.04) - (48.26) (0.04)
Q4 2022 59.13 347.4 % 0.05 40.05 19.07 0.02
Q1 2023 51.49 (21.3 %) 0.05 - 51.49 0.05
Q2 2023 69.30 63.7 % 0.06 (9.00) 78.30 0.07
Q3 2023 34.91 172.3 % 0.03 - 34.91 0.03
Q4 2023 123.00 108.0 % 0.11 - 123.00 0.11
Q1 2024 59.66 15.9 % 0.05 - 59.66 0.05
Q2 2024 72.65 4.8 % 0.06 - 72.65 0.06
Q3 2024 35.00 0.3 % 0.03 - 35.00 0.03
Q4 2024 109.66 (10.8 %) 0.10 - 109.66 0.10
2024 280.25 1.9 % 0.25 - 280.25 0.25


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2015 - - - - - -
Q2 2015 - - - - - -
Q3 2015 - - - - - -
Q4 2015 - - - - - -
Q1 2016 - - - - - -
Q2 2016 - - - - - -
Q3 2016 - - - - - -
Q4 2016 - - - - - -
Q1 2017 - - - - - -
Q2 2017 - - - - - -
Q3 2017 - - - - - -
Q4 2017 - - - - - -
Q1 2018 - - - - - -
Q2 2018 - - - - - -
Q3 2018 - - - - - -
Q4 2018 - - - - - -
Q1 2019 1,120.48 - 357.53 - 91.33 -
Q2 2019 1,306.61 - 417.88 - 123.28 -
Q3 2019 1,196.41 - 447.28 - 146.83 -
Q4 2019 1,220.27 - 421.83 - 145.42 -
Q1 2020 1,413.21 26.1 % 452.45 26.5 % 148.70 62.8 %
Q2 2020 1,547.59 18.4 % 504.12 20.6 % 210.25 70.5 %
Q3 2020 1,082.48 (9.5 %) 356.27 (20.3 %) 84.11 (42.7 %)
Q4 2020 1,113.19 (8.8 %) 359.05 (14.9 %) 62.29 (57.2 %)
Q1 2021 1,124.42 (20.4 %) 373.36 (17.5 %) 84.71 (43.0 %)
Q2 2021 1,122.82 (27.4 %) 399.40 (20.8 %) 115.01 (45.3 %)
Q3 2021 1,077.81 (0.4 %) 397.30 11.5 % 93.25 10.9 %
Q4 2021 1,057.12 (5.0 %) 268.86 (25.1 %) (28.00) (145.0 %)
Q1 2022 1,175.24 4.5 % 383.67 2.8 % 70.89 (16.3 %)
Q2 2022 1,220.91 8.7 % 378.15 (5.3 %) 62.86 (45.3 %)
Q3 2022 1,182.55 9.7 % 307.17 (22.7 %) (29.38) (131.5 %)
Q4 2022 1,318.34 24.7 % 368.09 36.9 % 38.02 235.8 %
Q1 2023 1,381.16 17.5 % 416.63 8.6 % 74.50 5.1 %
Q2 2023 1,411.60 15.6 % 452.05 19.5 % 96.74 53.9 %
Q3 2023 1,358.76 14.9 % 420.86 37.0 % 53.88 283.4 %
Q4 2023 1,451.40 10.1 % 520.25 41.3 % 132.30 247.9 %
Q1 2024 1,472.92 6.6 % 451.04 8.3 % 81.58 9.5 %
Q2 2024 1,417.84 0.4 % 480.43 6.3 % 98.89 2.2 %
Q3 2024 1,361.33 0.2 % 449.51 6.8 % 56.65 5.1 %
Q4 2024 1,425.59 (1.8 %) 512.80 (1.4 %) 127.33 (3.8 %)
2024 5,677.69 1.3 % 1,893.78 4.6 % 369.06 4.2 %

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 33.95 % 9.42 % 8.65 %
Q1 2020 33.86 % 10.50 % 9.27 %
Q2 2020 33.95 % 15.16 % 10.41 %
Q3 2020 32.96 % 14.35 % 9.49 %
Q4 2020 32.42 % 18.23 % 8.15 %
Q1 2021 32.72 % 19.74 % 7.31 %
Q2 2021 33.49 % 17.41 % 5.98 %
Q3 2021 34.45 % 17.62 % 6.05 %
Q4 2021 32.84 % 15.65 % 4.01 %
Q1 2022 32.69 % 15.10 % 3.66 %
Q2 2022 31.52 % 13.85 % 2.41 %
Q3 2022 28.86 % 10.99 % (0.12 %)
Q4 2022 29.35 % 11.88 % 1.25 %
Q1 2023 28.81 % 11.56 % 1.27 %
Q2 2023 29.17 % 12.05 % 1.90 %
Q3 2023 30.30 % 13.28 % 3.36 %
Q4 2023 32.30 % 14.66 % 5.13 %
Q1 2024 32.38 % 14.66 % 5.20 %
Q2 2024 32.85 % 14.54 % 5.09 %
Q3 2024 33.33 % 14.62 % 5.09 %
Q4 2024 33.35 % - 4.88 %
2024 33.35 % - 4.94 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2015 - - - -
Q2 2015 - - - -
Q3 2015 - - - -
Q4 2015 - - - -
Q1 2016 - - - -
Q2 2016 - - - -
Q3 2016 - - - -
Q4 2016 - - - -
Q1 2017 - - - -
Q2 2017 - - - -
Q3 2017 - - - -
Q4 2017 - - - -
Q1 2018 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 1,143.00 - - -
Q2 2019 1,143.00 - - 0.86
Q3 2019 1,143.00 - - 0.97
Q4 2019 1,143.00 0.37 0.37 1.04
Q1 2020 1,143.00 0.42 0.42 1.15
Q2 2020 1,143.00 0.49 0.49 1.23
Q3 2020 1,143.00 0.45 0.44 1.30
Q4 2020 1,143.00 0.39 0.37 1.15
Q1 2021 1,143.00 0.34 0.31 1.20
Q2 2021 1,143.00 0.26 0.23 1.29
Q3 2021 1,143.00 0.25 0.23 1.22
Q4 2021 1,143.00 0.21 0.15 1.23
Q1 2022 1,143.00 0.21 0.14 1.23
Q2 2022 1,143.00 0.17 0.10 1.26
Q3 2022 1,143.00 0.06 0.00 1.13
Q4 2022 1,143.00 0.10 0.05 1.19
Q1 2023 1,143.00 0.09 0.06 1.23
Q2 2023 1,143.00 0.12 0.09 1.19
Q3 2023 1,143.00 0.19 0.16 1.22
Q4 2023 1,143.00 0.24 0.25 1.22
Q1 2024 1,143.00 0.25 0.26 1.27
Q2 2024 1,143.00 0.25 0.25 1.22
Q3 2024 1,143.00 0.25 0.25 1.26
Q4 2024 1,143.00 0.24 0.24 1.22

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2015 - - -
Q2 2015 - - -
Q3 2015 - - -
Q4 2015 - - -
Q1 2016 - - -
Q2 2016 - - -
Q3 2016 - - -
Q4 2016 - - -
Q1 2017 - - -
Q2 2017 - - -
Q3 2017 - - -
Q4 2017 - - -
Q1 2018 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 30.38 32.38 10.36
Q1 2021 32.48 35.00 9.06
Q2 2021 43.20 47.69 8.62
Q3 2021 43.19 45.81 8.80
Q4 2021 45.52 62.27 7.76
Q1 2022 44.85 67.51 7.80
Q2 2022 53.79 94.05 7.12
Q3 2022 More than 100 NEG 6.04
Q4 2022 46.62 90.02 4.08
Q1 2023 71.95 More than 100 5.37
Q2 2023 64.51 84.42 6.23
Q3 2023 32.78 38.31 5.07
Q4 2023 25.39 24.59 5.06
Q1 2024 35.14 34.07 6.92
Q2 2024 29.10 29.10 6.03
Q3 2024 30.71 30.71 6.19
Q4 2024 26.70 26.70 5.29

Business Segments (Million)

Compared With The
Period Danube markets Bin Dawood Markets Others
Q3 2021 807.60 270.20 -
Q4 2021 752.30 304.80 -
Q1 2022 813.70 361.08 0.46
Q2 2022 791.04 426.62 3.26
Q3 2022 770.00 374.50 38.05
Q4 2022 868.96 374.30 75.07
Q1 2023 873.10 446.30 61.76
Q2 2023 870.50 465.80 75.30
Q3 2023 867.20 414.60 77.00
Q4 2023 925.59 396.97 128.84
Q1 2024 934.90 484.00 54.02
Q2 2024 884.40 450.10 83.34
Q3 2024 844.40 361.90 155.00

Analysts Estimates (Million)

Item Q4 2024 (e) Q4 2024 (a) Change‬
Average 72.94 109.66 50.34 %

Estimates vs Actual (Million)

Item Q4 2024 (e) Q4 2024 (a) Change
AlJazira Capital 74.70 109.66 31.9 %
Riyad Capital 74.00 109.66 32.5 %
SNB Capital 74.00 109.66 32.5 %
Sico 71.00 109.66 35.3 %
Al Rajhi Capital 71.00 109.66 35.3 %

Current
Market Cap (M Riyal) 7,669.53
Enterprise Value (EV) (M) 7,238.82
Shares Outstanding ((M)) 1,143.00
EPS ( Riyal) (TTM) 0.24
Book Value (BV) ( Riyal) 1.22
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 27.69
P/E (TTM) 27.69
Price/book 5.48
Return on Average Assets (%) (TTM) 5.4
Return on Average Equity (%) (TTM) 8.7

Share Price

6.71
0.08 1.21 %

BinDawood Holding Co. (BINDAWOOD)


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