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.
| 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.
| 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 %) |
| Item | Q1 2022 | Q2 2022 | Change |
|---|---|---|---|
| Revenues | 293.99 | 299.66 | 1.9 % |
| Gross Income | 208.88 | 199.29 | (4.6 %) |
| Operating Income | 154.25 | 139.83 | (9.4 %) |
| Net Income | 140.64 | 137.67 | (2.1 %) |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | 1.17 | 1.15 | (2.1 %) |
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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