BinDawood Holding net profit down 42% to SAR 227.4 mln in 9M 2021

09/11/2021 Argaam Exclusive

BinDawood Holding Co. reported a net profit after Zakat and tax of SAR 227.4 million for the first nine months of 2021, a fall of 42% from SAR 390.3 million in the year-earlier period.



Financials (M)

Item 9m 2020 9m 2021 Change‬
Revenues 4,043.29 3,325.05 (17.8 %)
Gross Income 1,312.84 1,170.06 (10.9 %)
Operating Income 443.05 292.97 (33.9 %)
Net Income 390.33 227.35 (41.8 %)
Average Shares 1,143.00 1,143.00 -
EPS (Riyals) 0.34 0.20 (41.8 %)

The profit decline came as 9M revenue fell 17.8% year-on-year (YoY), mainly due to higher revenue in first half of 2020, which was unseasonably high due to the effect of pantry-buying in response to the COVID-19 pandemic, bulk buying in anticipation of VAT change as of July 1, and restrictions on international travel.



Current Quarter Comparison (M)

Compared With The
Item Q3 2020 Q3 2021 Change‬
Revenues 1,082.48 1,077.81 (0.4 %)
Gross Income 356.27 397.30 11.5 %
Operating Income 84.11 93.25 10.9 %
Net Income 78.65 70.24 (10.7 %)
Average Shares 1,143.00 1,143.00 -
EPS (Riyals) 0.07 0.06 (10.7 %)

In Q3 2021, net profit after Zakat and tax decreased by 11% to SAR 70.2 million from SAR 78.7 million a year earlier, hit by

 

When compared to the previous quarter, Q3 net profit saw a decline of 26% to SAR 95 million.

 

Shareholders’ equity, after minority interest, fell 6% to SAR 1.397 billion as of Sept. 30, 2021, from SAR 1.486 billion a year earlier.

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Share Price

BinDawood Holding Co.
7.02
(0.05) (0.71 %)

BinDawood Holding Co. (BINDAWOOD)

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Financial Ratios
Current
Market Cap (M Riyal) 8,023.86
Enterprise Value (EV) (M) 7,437.34
Shares Outstanding ((M)) 1,143.00
EPS ( Riyal) (TTM) 0.25
Book Value (BV) ( Riyal) 1.22
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 27.86
P/E (TTM) 27.86
Price/book 5.73
Return on Average Assets (%) (TTM) 5.6
Return on Average Equity (%) (TTM) 20.8
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