Saudi Tadawul Group Holding Co. announces its interim financial results for the period ending on 31-03-2024 (Three Months)

05/05/2024 08:02:18

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 387.6224.372.804282.137.398
Gross Profit (Loss) 261.7122.9112.937144.181.609
Operational Profit (Loss) 192.364.3199.06666.5189.172
Net profit (Loss) 201.590.8121.91691.8119.498
Total Comprehensive Income 201.490.8121.80689.6124.776
All figures are in (Millions) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (After Deducting the Minority Equity) 3,326.83,270.51.721
Profit (Loss) per Share 1.680.76
All figures are in (Millions) Saudi Arabia, Riyals


Element ListPercentage of the capital (%)Amount
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value --
All figures are in (Millions) Saudi Arabia, Riyals


Element ListExplanation
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 387.6 million in Q1 2024, compared to SAR 224.3 million in Q1 2023, representing an increase of 72.8%.

The increase in the operating revenues during Q1 2024 compared to Q1 2023, is attributed to the increase in trading services and post-trade services revenues, as result of a 113.3% increase in trading values, along with an increase in data and technology services revenues by 49.5%.

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 201.5 million in Q1 2024, compared to SAR 90.8 million in Q1 2023, representing an increase of 121.9%. The reasons for the increase in net profit for Q1 2024 compared to Q1 2023 include:

- Operating revenues amounted to SAR 387.6 million in Q1 2024, compared to SAR 224.3 million in Q1 2023, representing an increase of 72.8%. The increase in operating revenues during Q1 2024 compared to Q1 2023, is attributed to the increase in trading services and post-trade services revenues, as result of a 113.3% increase in trading values, along with an increase in data and technology services revenues by 49.5%.

- Operating expenditures amounted to SAR 195.4 million in Q1 2024, compared to SAR 160.0 million in Q1 2023, representing an increase of 22.1%. The increase in operating expenditures during Q1 2024, compared to Q1 2023, 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, and the increased costs in systems maintenance.

The earnings per share amounted to SAR 1.68 in Q1 2024, compared to SAR 0.76 in Q1 2023, representing an increase of 121.9%.

The gross profit amounted to SAR 261.7 million in Q1 2024, compared to SAR 122.9 million in Q1 2023, representing an increase of 112.9%.

The operational profit amounted to SAR 192.3 million in Q1 2024, compared to SAR 64.3 million in Q1 2023, representing an increase of 199.0%.

The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The Group achieved operating revenues of SAR 387.6 million in Q1 2024, compared to SAR 282.1 million in Q4 2023, representing an increase of 37.4%.

The increase in operating revenues during Q1 2024 compared to Q4 2023, is attributed to the increase in trading services and post-trade services revenues, as result of a 65.6% increase in trading values, along with an increase in data and technology services revenues by 23.9%.

The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The Group achieved a net profit after zakat of SAR 201.5 million in Q1 2024, compared to SAR 91.8 million in Q4 2023, representing an increase of 119.6%. The reasons for the increase in net profit for Q1 2024 compared to Q4 2023 include:

- Operating revenues amounted to SAR 387.6 million in Q1 2024, compared to SAR 282.1 million in Q4 2023, representing an increase of 37.4%. The increase in operating revenues during Q1 2024 compared to Q4 2023, is attributed to the increase in trading services and post-trade services revenues, as result of a 65.6% increase in trading values, along with an increase in data and technology services revenues by 23.9%.

- Operating expenditures amounted to SAR 195.4 million in Q1 2024, compared to SAR 215.6 million in Q4 2023, representing a decrease of 9.4%. The decrease in operating expenditures during the Q1 2024, compared to Q4 2023, is primarily attributed to lower cost from Direct Financial Network company and lower consulting cost.

The earnings per share amounted to SAR 1.68 in Q1 2024, compared to SAR 0.76 in Q4 2023, representing an increase of 119.6%.

The gross profit amounted to SAR 261.7 million in Q1 2024, compared to SAR 144.1 million in Q4 2023, representing an increase of 81.7%.

The operational profit amounted to SAR 192.3 million in Q1 2024, compared to SAR 66.5 million in Q4 2023, representing an increase of 189.2%.

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 201.4 million in Q1 2024, compared to SAR 90.8 million in Q1 2023, representing an increase of 121.8%.

The total shareholders' equity (after deducting the minority equity) amounted to SAR 3,326.8 million in Q1 2024, compared to SAR 3,270.5 million in Q1 2023, representing an increase of 1.7%.

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 84.8% compared to Q1 2023, reaching SAR 133.5 million in Q1 2024. This increase was primarily driven by a 113.3% increase in trading values.

- Data and Technology Services Segment: Revenues in the data and technology services segment increased by 49.5% compared to Q1 2023, reaching SAR 47.0 million in Q1 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 71.7% compared to Q1 2023, reaching SAR 207.0 million in Q1 2024. This increase was primarily driven by a 113.3% increase in trading values.

Attached Documents  

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