Tadawul Group profit drops 22% to SAR 140.6 mln in Q1 2022

15/05/2022 Argaam Exclusive

Saudi Tadawul Group Holding Co. (Tadawul Group) reported a net profit after Zakat and tax of SAR 140.6 million in the first quarter of 2022, down 22% from SAR 179.6 million in the year-ago period.  



Current Quarter Comparison (M)

Compared With The
Item Q1 2021 Q1 2022 Change‬
Revenues 332.37 293.99 (11.5 %)
Gross Income 240.10 208.88 (13.0 %)
Operating Income 194.62 154.25 (20.7 %)
Net Income 179.64 140.64 (21.7 %)
Average Shares 120.00 120.00 -
EPS (Riyals) 1.50 1.17 (21.7 %)

The lower profit was attributed to an 11.6% decline in operating revenue to SAR 293.9 million, compared to SAR 332.4 million in Q1 2021, mainly due to a decrease in trading services and post-trade services.  

 

Operating expenses (OPEX) also increased by 1.8% year-on-year (YoY) to SAR 140.2 million. EBITDA fell by 20.4% YoY to SAR 166.4 million.  

 

On a sequential basis, the first-quarter net profit leapt 27.2% from SAR 110.5 million. Operating revenue jumped by 14.1% quarter-on-quarter (QoQ) to SAR 293.9 million in the three-month period. OPEX declined by 4.4% QoQ to SAR 140.2 million. EBITDA climbed 34.1% QoQ to SAR 166.4 million.  

  

Total shareholders’ equity, excluding minority interest, declined 15.2% to SAR 3.233 billion in Q1 2022, compared to SAR 3.814 billion in the year-ago period. 

The post-trade revenue decreased by 9.4% reaching SAR 148.1 million in Q1 2022 compared to SAR 163.5 million in Q1 2021, due to the normalization of trading volumes which contracted by 22.1% YoY. 

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Share Price

Saudi Tadawul Group Holding Co.
222.20
(2.60) (1.16 %)

Saudi Tadawul Group Holding Co. (TADAWUL GROUP)

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Financial Ratios
Current
Market Cap (M Riyal) 26,664.00
Enterprise Value (EV) (M) 23,433.21
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) 44.63
P/E (TTM) 44.63
Price/book 7.92
Return on Average Assets (%) (TTM) 7.0
Return on Average Equity (%) (TTM) 18.5
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