Saudi Tadawul Group Holding Co. announces its Interim Financial Results for the Period Ending on 2023-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 252 | 298.1 | -15.46 | 211.3 | 19.26 |
| Gross Profit (Loss) | 152.5 | 197.7 | -22.86 | 109.9 | 38.76 |
| Operational Profit (Loss) | 83.9 | 138.3 | -39.33 | 51.3 | 63.55 |
| Net Profit (Loss) after Zakat and Tax | 105.2 | 137.7 | -23.6 | 90.8 | 15.86 |
| Total Comprehensive Income | 105.2 | 137.7 | -23.6 | 90.8 | 15.86 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 463.3 | 592.1 | -21.75 |
| Gross Profit (Loss) | 262.3 | 406.6 | -35.49 |
| Operational Profit (Loss) | 135.2 | 292.3 | -53.75 |
| Net Profit (Loss) after Zakat and Tax | 196 | 278.3 | -29.57 |
| Total Comprehensive Income | 196 | 278.3 | -29.57 |
| Total Share Holders Equity (after Deducting Minority Equity) | 2,929 | 3,010.7 | -2.71 |
| Profit (Loss) per Share | 1.63 | 2.32 | |
| 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 105.2 million in Q2 2023, a 23.6% year on year (YoY) decrease from SAR 137.7 million in the same period of 2022. • Operating Revenue decreased 15.5% YoY reaching SAR 252.0 million in Q2 2023 compared to SAR 298.1 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 28.4%. • Operating Expenditures increased 5.2% YoY reaching SAR 168.1 million in Q2 2023 compared to SAR 159.8 million in the same period of 2022, due mainly to the consolidation of Direct Financial Network company financials effective from May 7th, 2023 following the acquisition of 51% stake. • Non-Operating Profit increased 113.8% YoY reaching SAR 33.4 million in Q2 2023 compared to SAR 15.6 million in the same period of 2022, due mainly to the increase in investment income. • EBITDA decreased 34.4% YoY reaching SAR 102.3 million in Q2 2023 compared to SAR 156.0 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 22.9% YoY reaching SAR 152.5 million in Q2 2023 compared to SAR 197.7 million in the same period of 2022, due to the decrease in the Group’s operating revenue. |
| 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 105.2 million in Q2 2023, a 15.9% quarter on quarter (QoQ) increase from SAR 90.8 million in Q1 2023. • Operating Revenue increased 19.3% QoQ reaching SAR 252.0 million in Q2 2023 compared to SAR 211.3 million in Q1 2023, predominantly due to the increase in trading revenue and post trade revenue driven by the growth in trading values which increased by 40.2%, in addition to the revenue contribution of Direct Financial Network company which was consolidated effective from May 7th, 2023. • Operating Expenditures increased 5.1% QoQ reaching SAR 168.1 million in Q2 2023 compared to SAR 160.0 million in Q1 2023, due mainly to the consolidation of Direct Financial Network company financials effective from May 7th, 2023 following the acquisition of 51% stake. • Non-Operating Profit: decreased 42.1% QoQ reaching SAR 33.4 million in Q2 2023 compared to SAR 57.7 million in Q1 2023, due mainly to a reversal of impairment in investment in associates recorded in Q1 2023. • EBITDA increased 48.5% QoQ reaching SAR 102.3 million in Q2 2023 compared to SAR 68.9 million in Q1 2023, due mainly to the increase in the Group’s operating revenue. • Gross Profit increased 38.8% QoQ reaching SAR 152.5 million in Q2 2023 compared to SAR 109.9 million in Q1 2023, due to the increase in the Group’s operating revenue. |
| 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 196.0 million in H1 2023, a 29.6% year on year (YoY) decrease from SAR 278.3 million in the same period of 2022. • Operating Revenue decreased 21.8% YoY reaching SAR 463.3 million in H1 2023 compared to SAR 592.1 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 40.3%. • Operating expenditures increased 9.5% YoY reaching SAR 328.1 million in H1 2023 compared to SAR 299.8 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 consolidation of Direct Financial Network company financials effective from May 7th, 2023 following the acquisition of 51% stake. • EBITDA decreased 46.9% YoY reaching SAR 171.2 million in H1 2023 compared to SAR 322.6 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 35.5% YoY reaching SAR 262.3 million in H1 2023 compared to SAR 406.6 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. |
| 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 decreased 28.7% YoY, reaching SAR 82.7 million in Q2 2023 driven by the decrease in trading values which contracted by 28.4%. • Data & Technology Services Segment: Data and Technology services revenue increased 101.4% YoY reaching SAR 44.8 million in Q2 2023 compared to SAR 22.3 million in Q2 2022 driven by the increase in market information services and Wamid’s co-location services as well as the revenue contribution of Direct Financial Network Company, which was consolidated effective from May 7th, 2023. • Post-Trade Segment: Post-trade revenue decreased 22.1% YoY reaching SAR 124.6 million in Q2 2023 compared to SAR 160.0 million in Q2 2022, mainly driven by the decrease in trading values which contracted by 28.4%. |
| Attached Documents |  |