Saudi Tadawul Group Holding Co. announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 211.3 | 293.9 | -28.1 | 222.2 | -4.91 |
| Gross Profit (Loss) | 109.9 | 208.8 | -47.37 | 134.8 | -18.47 |
| Operational Profit (Loss) | 51.3 | 154.2 | -66.73 | 43.1 | 19.02 |
| Net Profit (Loss) after Zakat and Tax | 90.8 | 140.6 | -35.42 | 57.2 | 58.74 |
| Total Comprehensive Income | 90.8 | 140.6 | -35.42 | 79.8 | 13.78 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 3,270.5 | 3,233.1 | 1.16 |
| Profit (Loss) per Share | 0.76 | 1.17 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| 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 90.8 million in Q1 2023, a 35.4% year on year (YoY) decrease from SAR 140.6 million in the same period of 2022.
• Operating Revenue decreased 28.1% YoY reaching SAR 211.3 million in Q1 2023 compared to SAR 293.9 million in the same period of 2022, predominantly due to the decrease in trading revenue and post trade revenue driven by the decrease in trading values which contracted by 50.3%. • Operating Expenditures increased 14.5% YoY reaching SAR 160.0 million in Q1 2023 compared to SAR 139.7 million in the same period of 2022, due mainly to the increase in the salaries and related benefits driven by the increase in headcount as per the Group’s plan as well as the increase in depreciation and amortization cost linked to Post Trade infrastructure enhancements. • Non-Operating Profit increased 655.6% YoY reaching SAR 57.7 million in Q1 2023 compared to SAR 7.6 million in the same period of 2022, due mainly to the increase in investment income and a reversal of impairment in investment in associates. • EBITDA decreased 58.7% YoY reaching SAR 68.9 million in Q1 2023 compared to SAR 166.8 million in the same period of 2022, due to the decrease in the Group’s operating revenue against growth in the Group’s operating expenditures. • Gross Profit decreased 47.4% YoY reaching SAR 109.9 million in Q1 2023 compared to SAR 208.8 million in the same period of 2022, due to the decrease in the Group’s operating revenue against growth in the Group’s operating costs. |
| 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 90.8 million in Q1 2023, a 58.8% quarter on quarter (QoQ) increase from SAR 57.2 million in Q4 2022.
• Operating Revenue decreased 4.9% QoQ reaching SAR 211.3 million in Q1 2023 compared to SAR 222.2 million in Q4 2022, predominantly due to the decrease in trading revenue and post trade revenue driven by the decrease in trading values which contracted by 12.2%. • Operating Expenditures decreased 10.7% QoQ reaching SAR 160.0 million in Q1 2023 compared to SAR 179.1 million in Q4 2022. • Non-Operating Profit: increased 103.4% YoY reaching SAR 57.7 million in Q1 2023 compared to SAR 28.4 million in Q4 2022, due mainly to the increase in investment income and a reversal of impairment in investment in associates. • EBITDA increased 11.7% QoQ reaching SAR 68.9 million in Q1 2023 compared to SAR 61.6 million in Q4 2022, due mainly to the decrease in the Group’s operating expenditures. • Gross Profit decreased 18.5% QoQ reaching SAR 109.9 million in Q1 2023 compared to SAR 134.8 million in Q4 2022, due to the decrease in the Group’s operating revenue against growth in the Group’s operating costs. |
| 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’s revenue, which includes trading services and listing fees, decreased 40.4% YoY, reaching SAR 72.3 million in Q1 2023. Trading services revenue decreased 49.3% YoY reaching SAR 50.6 million in Q1 2023 compared to SAR 99.7 million in the same period of 2022, driven by the decrease in trading values which contracted by 50.3% Listing fees revenue increased 0.4% YoY reaching to SAR 21.7 million in Q1 2023 compared to SAR 21.6 million in the same period of 2022, mainly due to an increase in the number and size of listings. • Data and Technology services Segment revenue increased 27.8% YoY reaching SAR 31.5 million in Q1 2023 compared to SAR 24.6 million in the same period of 2022 driven by the increase in market information services and Wamid’s co-location services. • Post-trade Segment revenue decreased 27.4% YoY reaching SAR 107.5 million in Q1 2023 compared to SAR 148.1 million in the same period of 2022, mainly driven by the decrease in trading values which contracted by 50.3% mitigated by the new fees structure of post trade services (Clearing, Settlement and Safekeeping). |
| Attached Documents |  |
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