BinDawood Holding Q1 profit up 11% to SAR 57.2M

16/05/2024 Argaam Exclusive

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BinDawood Holding Co. reported a net profit growth of 11% to SAR 57.2 million in Q1 2024, from SAR 51.5 million in the previous year.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2023	Q1 2024	Change‬
Revenues	1,381.16	1,472.92	6.6 %
Gross Income	416.63	451.04	8.3 %
Operating Income	74.50	81.58	9.5 %
Net Income	51.49	59.66	15.9 %
Average Shares	1,143.00	1,143.00	-
EPS (Riyals)	0.05	0.05	15.9 %

Item	Q4 2023	Q1 2024	Change‬
Revenues	1,451.40	1,472.92	1.5 %
Gross Income	520.25	451.04	(13.3 %)
Operating Income	129.39	81.58	(37.0 %)
Net Income	120.84	59.66	(50.6 %)
Average Shares	1,143.00	1,143.00	-
EPS (Riyals)	0.11	0.05	(50.6 %)

The company’s revenues rose 6.6% year-on-year (YoY) in Q1 2024, reaching SAR 1.47 billion, driven by an 8.5% growth in Bin Dawood Markets sales and a 7.1% rise in Danube Store sales.

This was despite higher operating expenses of SAR 369.5 million, compared to SAR 342.1 million in Q1 2023, as the company invested in human capital, opened new stores, and amortized intangible assets, which began in Q2 2023, and had no impact during Q1 2023.

The company’s three-month earnings dropped 52.7% from SAR 120.84 million in Q4 2023.

Shareholders’ equity, no minority interest, amounted to SAR 1.45 billion at the end of Q1 2024, from SAR 1.40 billion a year earlier.

Earnings per share stood at SAR 0.05/share in Q1 2024 compared to SAR 0.46/share in Q1 2023, by dividing net income on the weighted average number of shares.

BinDawood indicated that its financial position remained strong on lack of debts.

Shareholders' equity grew by 3.6% as a result of the increase in retained earnings.

Attached Document:

View more financial results

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	4,518.08	-	974.22	-	56.95	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	4,766.28	5.5 %	1,003.62	3.0 %	(142.91)	(350.9 %)
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	4,554.15	(4.5 %)	1,552.85	54.7 %	378.65	365.0 %
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	-
2019	4,843.77	6.4 %	1,644.53	5.9 %	506.87	33.9 %
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 %)
2020	5,156.47	6.5 %	1,671.89	1.7 %	505.34	(0.3 %)
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 %)
2021	4,382.17	(15.0 %)	1,438.92	(13.9 %)	264.96	(47.6 %)
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 %
2022	4,897.03	11.7 %	1,437.07	(0.1 %)	142.39	(46.3 %)
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 %	129.39	240.3 %
2023	5,602.93	14.4 %	1,809.79	25.9 %	354.51	149.0 %
Q1 2024	1,472.92	6.6 %	451.04	8.3 %	81.58	9.5 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	4,518.08	-	974.22	-	56.95	-
2017	4,766.28	5.5 %	1,003.62	3.0 %	(142.91)	(350.9 %)
2018	4,554.15	(4.5 %)	1,552.85	54.7 %	378.65	365.0 %
2019	4,843.77	6.4 %	1,644.53	5.9 %	506.87	33.9 %
2020	5,156.47	6.5 %	1,671.89	1.7 %	505.34	(0.3 %)
2021	4,382.17	(15.0 %)	1,438.92	(13.9 %)	264.96	(47.6 %)
2022	4,897.03	11.7 %	1,437.07	(0.1 %)	142.39	(46.3 %)
2023	5,602.93	14.4 %	1,809.79	25.9 %	354.51	149.0 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	481.00	-	0.42	-	481.00	0.42
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	414.34	(13.9 %)	0.36	-	414.34	0.36
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	397.84	(4.0 %)	0.35	-	397.84	0.35
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
2019	419.14	5.4 %	0.37	-	419.14	0.37
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
2020	447.72	6.8 %	0.39	27.60	420.12	0.37
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)
2021	240.56	(46.3 %)	0.21	64.72	175.84	0.15
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
2022	118.66	(50.7 %)	0.10	57.20	61.46	0.05
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	120.84	104.4 %	0.11	-	120.84	0.11
2023	276.53	133.1 %	0.24	(9.00)	285.53	0.25
Q1 2024	59.66	15.9 %	0.05	-	59.66	0.05

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	481.00	-	0.42	-	481.00	0.42
2017	414.34	(13.9 %)	0.36	-	414.34	0.36
2018	397.84	(4.0 %)	0.35	-	397.84	0.35
2019	419.14	5.4 %	0.37	-	419.14	0.37
2020	447.72	6.8 %	0.39	27.60	420.12	0.37
2021	240.56	(46.3 %)	0.21	64.72	175.84	0.15
2022	118.66	(50.7 %)	0.10	57.20	61.46	0.05
2023	276.53	133.1 %	0.24	(9.00)	285.53	0.25

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	21.56 %	3.69 %	10.65 %
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	21.06 %	0.13 %	8.69 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	34.10 %	11.73 %	8.74 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	33.95 %	9.42 %	8.65 %
2019	33.95 %	13.77 %	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 %
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 %
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 %
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 %	14.61 %	5.10 %
2023	32.30 %	14.61 %	5.10 %
Q1 2024	32.38 %	14.61 %	5.16 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	21.56 %	3.69 %	10.65 %
2017	21.06 %	0.13 %	8.69 %
2018	34.10 %	11.73 %	8.74 %
2019	33.95 %	13.77 %	8.65 %
2020	32.42 %	18.23 %	8.15 %
2021	32.84 %	15.65 %	4.01 %
2022	29.35 %	11.88 %	1.25 %
2023	32.30 %	14.61 %	5.10 %

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	31.91 %	-	6.17 %
Q2 2019	31.98 %	-	7.78 %
Q3 2019	37.39 %	21.04 %	10.40 %
Q4 2019	34.57 %	(0.81 %)	10.15 %
Q1 2020	32.02 %	12.32 %	8.93 %
Q2 2020	32.57 %	25.82 %	11.98 %
Q3 2020	32.91 %	17.72 %	5.89 %
Q4 2020	32.25 %	15.69 %	4.02 %
Q1 2021	33.20 %	17.32 %	5.52 %
Q2 2021	35.57 %	18.90 %	8.46 %
Q3 2021	36.86 %	18.57 %	6.19 %
Q4 2021	25.43 %	7.45 %	(4.53 %)
Q1 2022	32.65 %	15.19 %	4.11 %
Q2 2022	30.97 %	13.94 %	3.47 %
Q3 2022	25.98 %	6.95 %	(4.08 %)
Q4 2022	27.92 %	11.44 %	1.45 %
Q1 2023	30.17 %	13.52 %	3.73 %
Q2 2023	32.02 %	15.45 %	5.55 %
Q3 2023	30.97 %	12.56 %	2.57 %
Q4 2023	35.84 %	16.76 %	8.33 %
Q1 2024	30.62 %	13.58 %	4.05 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	1,143.00	0.42	0.42	0.68
2017	1,143.00	0.36	0.36	0.72
2018	1,143.00	0.35	0.35	0.89
2019	1,143.00	0.37	0.37	1.04
2020	1,143.00	0.39	0.37	1.15
2021	1,143.00	0.21	0.15	1.23
2022	1,143.00	0.10	0.05	1.19
2023	1,143.00	0.24	0.25	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	25.59	24.78	5.06
Q1 2024	35.41	34.32	6.92

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	30.38	32.38	10.36
2021	45.52	62.27	7.76
2022	46.62	90.02	4.08
2023	25.59	24.78	5.06

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

Period	Danube markets	Bin Dawood Markets	Others
2020	3,656.00	1,501.00	-
2021	3,173.00	1,209.20	-
2022	3,243.70	1,536.50	116.83
2023	3,540.30	1,739.80	322.83

Analysts Estimates (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change‬
Average	73.41	59.66	(18.7 %)

Estimates vs Actual (Million)

Item	Q1 2024 (e)	Q1 2024 (a)	Change
SNB Capital	60.00	59.66	(0.6) %
Al Rajhi Capital	58.00	59.66	2.9 %
Goldman Sachs	57.15	59.66	4.4 %
U-Capital	65.70	59.66	(9.2) %
AlJazira Capital	79.40	59.66	(24.9) %
OSOOL AND BAKHEET	81.44	59.66	(26.7) %
Sico	89.60	59.66	(33.4) %
Riyad Capital	96.00	59.66	(37.9) %

Financial Ratios

	Current
Market Cap (M Riyal)	7,818.12
Enterprise Value (EV) (M)	7,387.41
Shares Outstanding ((M))	1,143.00
EPS ( Riyal) (TTM)	0.25
Book Value (BV) ( Riyal)	1.26
Par Value ( Riyal)	1.00
Adjusted P/E (Last12)	27.29
P/E (TTM)	27.29
Price/book	5.43
Return on Average Assets (%) (TTM)	5.6
Return on Average Equity (%) (TTM)	20.2

BinDawood Holding Co. (BINDAWOOD)

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BinDawood Holding Q1 profit up 11% to SAR 57.2M

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Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2024 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

BinDawood Holding Co. (BINDAWOOD)

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BinDawood Holding Q1 profit up 11% to SAR 57.2M

View other reports

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2024

Revenue by Business Segment (Latest) 2024 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

BinDawood Holding Co. (BINDAWOOD)

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Business Segments (Million)