Tadawul Group 2024 profit up 59% to SAR 621.8M; Q4 at SAR 116.1M

Saudi Tadawul Group Holding Co. (Tadawul Group) reported a net profit of SAR 621.8 million in 2024, an increase of 59% from SAR 390.1 million in 2023.

The profit increase was mainly driven by higher revenues from trading and post-trading services, driven by a 39.4% increase year-on-year (YoY) in trading values, a 54.5% rise in net commission income on Saudi Central Bank (SAMA) bills and deposits, a 24.4% growth in depository services revenues, and a 10.2% increase in registry services revenues.

 Additionally, revenues from non-trading linked services rose by 29.4% YoY.

Revenues from the capital markets segment increased by 37.5% YoY reaching SAR 461.3 million in 2024. This increase was primarily driven by a 39.4% increase in trading values, and a 27.3% rise in listing services revenues.

Revenues from the data and technology services segment increased by 33.5% YoY to SAR 219.6 million in 2024. This growth was primarily driven by an increase in co-location services revenues and revenues contribution from the Direct Financial Network Co.

Gross profit increased 50.3% YoY to SAR 911.8 million in 2024, and operating profit rose 72.4% YoY to SAR 566.1 million.

Meanwhile, operating expenditures rose 18.3% YoY to SAR 880.4 million in 2024, due to the consolidation of Direct Financial Network Co.'s financials, effective from May 7, 2023, along with a rise in workforce cost due to an increase in headcount.

The group’s net profit surged 27% to SAR 116.1 million in Q4 2024 from SAR 91.77 million in Q4 2023.

On a sequential basis, Q4 net profit fell 17.3% from SAR 140.35 million.

Shareholders' equity, no minority interest, at the end of the period amounted to SAR 3.49 billion, compared to SAR 3.15 billion a year earlier.

Attached document

View More Financial Results