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Saudi Tadawul Group Holding Co. announces its interim financial results for the period ending on 30-09-2024 (Nine Months)
1446/04/17 20/10/2024 07:30:12
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 359.1 | 297.7 | 20.624 | 353.5 | 1.584 |
| Gross Profit (Loss) | 212.2 | 170.7 | 24.311 | 218.2 | -2.749 |
| Operational Profit (Loss) | 123.6 | 97 | 27.422 | 145.7 | -15.168 |
| Net profit (Loss) | 140.4 | 102.3 | 37.243 | 163.8 | -14.285 |
| Total Comprehensive Income | 137.6 | 102.3 | 34.506 | 161.2 | -14.64 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,100.2 | 790.7 | 39.142 |
| Gross Profit (Loss) | 692.1 | 462.8 | 49.546 |
| Operational Profit (Loss) | 461.5 | 261.8 | 76.279 |
| Net profit (Loss) | 505.7 | 298.3 | 69.527 |
| Total Comprehensive Income | 500.2 | 298.3 | 67.683 |
| Total Shareholders Equity (after Deducting Minority Equity) | 3,368 | 3,082 | 9.279 |
| Profit (Loss) per Share | 4.21 | 2.49 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Saudi Tadawul Group Holding Co. (the Group) achieved operating revenues of SAR 359.1 million in Q3 2024, compared to SAR 297.7 million in Q3 2023, representing an increase of 20.6%. The increase in the operating revenues during Q3 2024 compared to Q3 2023, is attributed to the increase in trading services and post-trade services revenues, as result of a 17.4% increase in trading values, in addition to a 22.6% increase in revenues from non-trading linked services. |
| 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 140.4 million in Q3 2024, compared to SAR 102.3 million in Q3 2023, representing an increase of 37.2%. The reasons for the increase in net profit after zakat for Q3 2024 compared to Q3 2023 include: - Operating revenues amounted to SAR 359.1 million in Q3 2024, compared to SAR 297.7 million in Q3 2023, representing an increase of 20.6%. The increase in the operating revenues during Q3 2024 compared to Q3 2023, is attributed to the increase in trading services and post-trade services revenues, as result of a 17.4% increase in trading values, in addition to a 22.6% increase in revenues from non-trading linked services. - Operating expenditures amounted to SAR 235.5 million in Q3 2024, compared to SAR 200.7 million in Q3 2023, representing an increase of 17.3%. The increase in operating expenditures during Q3 2024, compared to Q3 2023, is primarily attributed to the rise in workforce cost due to an increase in headcount as per the Group’s growth plan. The earnings per share amounted to SAR 1.17 in Q3 2024, compared to SAR 0.85 in Q3 2023, representing an increase of 37.2%. The gross profit amounted to SAR 212.2 million in Q3 2024, compared to SAR 170.7 million in Q3 2023, representing an increase of 24.3%. The operational profit amounted to SAR 123.6 million in Q3 2024, compared to SAR 97.0 million in Q3 2023, representing an increase of 27.4%. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The Group’s operating revenues amounted to SAR 359.1 million in Q3 2024, compared to SAR 353.5 million in Q2 2024, representing an increase of 1.6%. The increase in operating revenues during Q3 2024 compared to Q2 2024, is attributed to the increase in revenues from non-trading linked services by 2.8%. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The Group’s net profit after zakat amounted to SAR 140.4 million in Q3 2024, compared to SAR 163.8 million in Q2 2024, representing a decrease of 14.3%. - Operating revenues amounted to SAR 359.1 million in Q3 2024, compared to SAR 353.5 million in Q2 2024, representing an increase of 1.6%. The increase in operating revenues during Q3 2024 compared to Q2 2024, is attributed to the increase in revenues from non-trading linked services by 2.8%. - Operating expenditures amounted to SAR 235.5 million in Q3 2024, compared to SAR 207.8 million in Q2 2024, representing an increase of 13.4%. The increase in operating expenditures during Q3 2024, compared to Q2 2024, is primarily attributed to the rise in workforce cost due to an increase in headcount as per the Group’s growth plan. The earnings per share amounted to SAR 1.17 in Q3 2024, compared to SAR 1.37 in Q2 2024, representing a decrease of 14.3%. The gross profit amounted to SAR 212.2 million in Q3 2024, compared to SAR 218.2 million in Q2 2024, representing a decrease of 2.7%. The operational profit amounted to SAR 123.6 million in Q3 2024, compared to SAR 145.7 million in Q2 2024, representing a decrease of 15.2%. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The Group achieved operating revenues of SAR 1,100.2 million in the first nine months of 2024, compared to SAR 790.7 million for the similar period of the previous year, representing an increase of 39.1%. The increase in the operating revenues during the first nine months of 2024 compared to the similar period of the previous year, is attributed to the increase in trading services and post-trade services revenues, as result of a 50.7% increase in trading values, in addition to a 27.5% increase in revenues from non-trading linked services. |
| 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 505.7 million in the first nine months of 2024, compared to SAR 298.3 million for the similar period of the previous year, representing an increase of 69.5%. The reasons for the increase in net profit after zakat for the first nine months of 2024 compared to the similar period of the previous year include: - Operating revenues amounted to SAR 1,100.2 million in the first nine months of 2024, compared to SAR 790.7 million for the similar period of the previous year, representing an increase of 39.1%. The increase in the operating revenues during the first nine months of 2024 compared to the similar period of the previous year, is attributed to the increase in trading services and post-trade services revenues, as result of a 50.7% increase in trading values, in addition to a 27.5% increase in revenues from non-trading linked services. - Operating expenditures amounted to SAR 638.7 million in the first nine months of 2024, compared to SAR 528.9 million for the similar period of the previous year, representing an increase of 20.8%. The increase in operating expenditures during the first nine months of 2024, compared to the similar period of the previous year, is primarily attributed to the consolidation of Direct Financial Network company financials, effective from May 7th, 2023, following the acquisition of 51% stake, along with the rise in workforce cost due to an increase in headcount as per the Group’s plan. The earnings per share amounted to SAR 4.21 in the first nine months of 2024, compared to SAR 2.49 for the similar period of the previous year, representing an increase of 69.5%. The gross profit amounted to SAR 692.1 million in the first nine months of 2024, compared to SAR 462.8 million for the similar period of the previous year, representing an increase of 49.6%. The operational profit amounted to SAR 461.5 million in the first nine months of 2024, compared to SAR 261.8 million for the similar period of the previous year, representing an increase of 76.3%. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the current period presentation. |
| Additional Information | The total comprehensive income amounted to SAR 137.6 million in Q3 2024, compared to SAR 102.3 million in Q3 2023, representing an increase of 34.5%. The total shareholders' equity (after deducting the minority equity) amounted to SAR 3,368.0 million in Q3 2024, compared to SAR 3,082.0 million in Q3 2023, representing an increase of 9.3%. The Group is organized into business segments based on the services provided. The reportable revenues segments of the Group are as follows: - Capital Markets Segment: Revenues in the Capital Markets segment increased by 22.5%, compared to Q3 2023, reaching SAR 112.2 million in Q3 2024. This increase was primarily driven by a 17.4% increase in trading values. - Data and Technology Services Segment: Revenues in the data and technology services segment increased by 14.1% compared to Q3 2023, reaching SAR 57.4 million in Q3 2024. This growth was primarily driven by an increase in co-location services revenues and the revenue contribution from the Direct Financial Network Company. - Post-Trade Segment: Revenues in the Post-trade segment increased by 21.6% compared to Q3 2023, reaching SAR 189.6 million in Q3 2024. This increase was primarily driven by a 17.4% increase in trading values. |
| Attached Documents |  |
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