Financial Results : BinDawood Holding profit rises 2% to SAR 280.3M in 2024; Q4 at SAR 109.7M

BinDawood Holding profit rises 2% to SAR 280.3M in 2024; Q4 at SAR 109.7M

18/02/2025 Argaam Exclusive

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BinDawood Holding Co. reported a net profit before minority interest of SAR 280.3 million for 2024, up 2% from SAR 275.1 million in the previous year.


Financials (M)

Item 2023 2024 Change‬
Revenues 5,602.93 5,677.69 1.3 %
Gross Income 1,809.79 1,893.78 4.6 %
Operating Income 354.27 369.06 4.2 %
Net Income 275.07 280.25 1.9 %
Average Shares 1,143.00 1,143.00 -
Earnings Per Share before unusual items (Riyals) 0.25 0.25 (1.3 %)
EPS (Riyals) 0.24 0.25 1.9 %

The company posted a 1.3% revenue growth to SAR 5.67 billion in 2024, compared to SAR 5.60 billion in 2023. The profit growth was driven by the contribution of sales from new openings, positive like-for-like growth from point-of-sale customers, data-driven decisions from the loyalty program, and the contribution of sales from Jumeirah Trading Co. and Future Retail Tech, the company said in a statement to Tadawul.

 

The fourth-quarter net profit was down 11% to SAR 109.7 million, compared to SAR 123 million in the same period last year.

 

On a sequential basis, Q4 2024 net earnings soared 213.3% from SAR 35 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 1,451.40 1,425.59 (1.8 %)
Gross Income 520.25 512.80 (1.4 %)
Operating Income 132.30 127.33 (3.8 %)
Net Income 123.00 109.66 (10.8 %)
Average Shares 1,143.00 1,143.00 -
Earnings Per Share before unusual items (Riyals) 0.11 0.10 (10.8 %)
EPS (Riyals) 0.11 0.10 (10.8 %)

Shareholders’ equity (after minority interest) amounted to SAR 1.39 billion by the end of 2024, compared to SAR 1.39 billion in the prior-year period.

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