Financial Results : Tadawul Group H1 2022 profit falls 23% to SAR 278.3 mln; Q2 down to SAR 137.7 mln

Tadawul Group H1 2022 profit falls 23% to SAR 278.3 mln; Q2 down to SAR 137.7 mln

14/08/2022 Argaam Exclusive

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Saudi Tadawul Group Holding Co. (Tadawul Group) reported a net profit after Zakat and tax of SAR 278.3 million for the first half of 2022, a decrease of 23% from SAR 362 million in the year-ago period, as operating revenue fell 8.3% year-on-year (YoY) to SAR 592.1 million.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 645.91 593.61 (8.1 %)
Gross Income 471.29 408.13 (13.4 %)
Operating Income 371.84 293.85 (21.0 %)
Net Income 362.04 278.30 (23.1 %)
Average Shares 120.00 120.00 -
EPS (Riyals) 3.02 2.32 (23.1 %)

In addition, operating expenditures increased 9.8% YoY, EBITDA fell 19.7% YoY, and gross profit declined 14.5% YoY.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 313.54 299.66 (4.4 %)
Gross Income 231.19 199.29 (13.8 %)
Operating Income 175.87 139.83 (20.5 %)
Net Income 181.07 137.67 (24.0 %)
Average Shares 120.00 120.00 -
EPS (Riyals) 1.51 1.15 (24.0 %)

The net profit slumped 24% YoY to SAR 137.7 million in Q2 2022 as operating revenue decreased and operating expenditures rose.

 

Compared to the previous quarter, the net profit slipped 2.1% from SAR 140.64 million.

 

Shareholders’ equity, after minority interest, stood at SAR 3.01 billion as of June 30, 2022, compared to SAR 2.876 billion a year earlier.

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