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

20/10/2024 Argaam Exclusive

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 -
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 -
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.
225.40
(2.80) (1.23 %)

Saudi Tadawul Group Holding Co. (TADAWUL GROUP)

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Financial Ratios
Current
Market Cap (M Riyal) 27,048.00
Enterprise Value (EV) (M) 23,817.21
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) 45.27
P/E (TTM) 45.27
Price/book 8.03
Return on Average Assets (%) (TTM) 7.0
Return on Average Equity (%) (TTM) 18.5
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