BinDawood Holding H1 2024 profit up 14% to SAR 137M; Q2 at SAR 78M

11/08/2024 Argaam Exclusive

BinDawood Holding Co. reported a 14% rise in H1 2024 net profit to SAR 137 million (excluding minority interest) from SAR 120.8 million in H1 2023.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 2,792.76 2,890.76 3.5 %
Gross Income 868.68 931.47 7.2 %
Operating Income 171.24 180.46 5.4 %
Net Income 120.79 132.31 9.5 %
Average Shares 1,143.00 1,143.00 -
EPS (Riyals) 0.11 0.12 9.5 %

Revenues rose 3.5% year-on-year (YoY) to SAR 2.89 billion in H1 2024, due to the success of the company’s loyalty program, the emphasis on data-driven decisions, better product mix and enhancements to the shopping experience.

 

Operating expenses reached SAR 751.0 million in H1 2024, compared to SAR 706.4 million in H1 2023. The ratio of operating expenses to sales increased marginally to 26.0% in H1 2024 from 25.3% in H1 2023, on the back of increased investment in human capital, the inauguration of two new Danube stores and one BinDawood Express store, and the cumulative impact of stores launched last year.



Current Quarter Comparison (M)

Compared With The
Item Q2 2023 Q2 2024 Change‬
Revenues 1,411.60 1,417.84 0.4 %
Gross Income 452.05 480.43 6.3 %
Operating Income 96.74 98.89 2.2 %
Net Income 69.30 72.65 4.8 %
Average Shares 1,143.00 1,143.00 -
EPS (Riyals) 0.06 0.06 4.8 %

In Q2 2024, net profit jumped 12% YoY to SAR 78 million.

 

The second-quarter net earnings increased by 29.9% from SAR 59.6 million in Q1 2024.

 

Shareholders’ equity, excluding minority interest, rose to SAR 1.4 billion as of June 30, 2024, from SAR 1.36 billion a year earlier.

 

Attached Documents

 

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Share Price

BinDawood Holding Co.
6.84
0.07 1.03 %

BinDawood Holding Co. (BINDAWOOD)

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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
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