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Saudi Tadawul Group Holding Co. announces its Interim Financial Results for the Period Ending on 2022-09-30 ( Nine Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 257.2262.6-2.06298.1-13.72
Gross Profit (Loss) 145.9178.5-18.26196.8-25.86
Operational Profit (Loss) 91.7130.3-29.62137.6-33.36
Net Profit (Loss) after Zakat and Tax 89.1115.2-22.66137.7-35.29
Total Comprehensive Income 89.1115.2-22.66137.7-35.29
All figures are in (Millions) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Sales/Revenue 849.2908.5-6.53
Gross Profit (Loss) 548.9649.8-15.53
Operational Profit (Loss) 384503-23.66
Net Profit (Loss) after Zakat and Tax 367.4477.2-23.01
Total Comprehensive Income 367.4477.2-23.01
Total Share Holders Equity (after Deducting Minority Equity) 3,099.92,991.93.61
Profit (Loss) per Share 3.063.98
All figures are in (Millions) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The Group achieved a net profit after zakat of SAR 89.1 million in Q3 2022, a 22.6% year on year (YoY) decrease from SAR 115.2 million in Q3 2021, This was mainly driven by the following:

• Operating Revenue decreased 2.1% YoY reaching SAR 257.2 million in Q3 2022 compared to SAR 262.6 million in Q3 2021, predominantly due to the decrease in trading revenue driven by the decrease in trading values which contracted by 18.7%.

• Operating expenditures increased 25.0% YoY reaching SAR 165.5 million in Q3 2022 compared to SAR 132.3 million in Q3 2021, mainly due to the increase in the salaries and related benefits, driven by the increase in headcount as per the Group’s plan.

• EBITDA decreased 27.1% YoY reaching SAR 106.0 million in Q3 2022 compared to SAR 145.5 million in Q3 2021, due to the decrease in the Group’s operating revenue against growth in the Group’s operating expenditures.

• Gross Profit decreased 18.3% YoY reaching SAR 145.9 million in Q3 2022 compared to SAR 178.5 million in Q3 2021, due to the decrease in the Group’s operating revenue against growth in the Group’s operating expenditures.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is The Group achieved a net profit after zakat of SAR 89.1 million in Q3 2022, a 35.3% quarter on quarter (QoQ) decrease from SAR 137.7 million in Q2 2022, This was mainly driven by the following:

• Operating Revenue decreased 13.7% QoQ reaching SAR 257.2 million in Q3 2022 compared to SAR 298.1 million in Q2 2022, predominantly due to the decrease in trading revenue driven by the decrease in trading values which contracted by 26.6%.

• Operating expenditures Increased 3.1% QoQ reaching SAR 165.5 million in Q3 2022 compared to SAR 160.6 million in Q2 2022.

• EBITDA decreased 31.7% QoQ reaching SAR 106.0 million in Q3 2022 compared to SAR 155.3 million in Q2 2022, due to the decrease in the Group’s operating revenue against moderate growth in the Group’s operating expenditures.

• Gross Profit decreased 25.9% QoQ reaching SAR 145.9 million in Q3 2022 compared to SAR 196.8 million in Q2 2022, due to the decrease in the Group’s operating revenue against moderate growth in the Group’s operating expenditures.

The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The Group achieved a net profit after zakat of SAR 367.4 million in the nine months of 2022, a 23.0% year on year (YoY) decrease from SAR 477.2 million in the same period of 2021, This was mainly driven by the following:

• Operating Revenue decreased 6.5% YoY reaching SAR 849.2 million in the nine months of 2022 compared to SAR 908.5 million in the same period of 2021, predominantly due to the decrease in trading revenue and post trade revenue driven by the decrease in trading values which contracted by 21.1%.

• Operating expenditures increased 14.7% YoY reaching SAR 465.2 million in the nine months of 2022 compared to SAR 405.5 million in the same period of 2021, due to the increase in the salaries and related benefits, driven by the increase in headcount as per the Group’s plan.

• EBITDA decreased 21.6% YoY reaching SAR 428.7 million in the nine months of 2022 compared to SAR 546.8 million in the same period of 2021, due to the decrease in the Group’s operating revenue against growth in the Group’s operating expenditures.

• Gross Profit decreased 15.5% YoY reaching SAR 548.9 million in the nine months of 2022 compared to SAR 649.8 million in the same period of 2021, due to the decrease in the Group’s operating revenue against growth in the Group’s operating expenditures.

Statement of the type of external auditor's report Unmodified conclusion
Reclassification of Comparison Items Certain comparative figures have been reclassified to conform to the current period presentation.
Additional Information The Group is organized into business segments based on services provided. The reportable segments of the Group are as below:

• Capital Markets Segment: The Capital Markets segment’s revenue, which includes trading services and listing fees, decreased 11.5% YoY, reaching SAR 91.4 million in Q3 2022.

Trading services revenue decreased 18.1% YoY reaching SAR 67.1 million in Q3 2022 compared to SAR 81.9 million in Q3 2021, driven by the decrease in trading values which contracted by 18.7%

Listing fees revenue increased 13.9% YoY reaching to SAR 24.3 million in Q3 2022 compared to SAR 21.3 million in Q3 2021, mainly due to an increase in the number and size of listings.

• Data & Technology Services Segment: Data and Technology services revenue increased 18.7% YoY reaching SAR 27.6 million in Q3 2022 compared to SAR 23.2 million in Q3 2021 driven by market information and Wamid’s co-location service, which was activated in Q1 2022.

• Post-Trade Segment: Post-trade revenue increased 1.5% YoY reaching SAR 138.1 million in Q3 2022 compared to SAR 136.1 million in Q3 2021, mainly driven by the new fees structure of post trade services (Clearing, Settlement and Safekeeping) mitigated by the decrease in trading values which contracted by 18.7%.

Attached Documents  

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price Net Change
163.0 -6.6 (-3.89%)
Value Traded (SAR) Volume Traded
82,957,014.8 502,482