The annual financial results of the Saudi Tadawul Group Holding Company showed that its net profit increased by 17.4% to 587.7 million riyals in 2021, compared to about 500.52 million riyals in profits in 2020.
The Tadawul Group said in a statement today, Sunday, that the reason for this rise is mainly due to the increase in operating revenues, total profit and operating profit.
It added that the operating revenues rose by 8.01% on an annual basis to reach about 1.17 billion riyals in 2021, compared to about 1.08 billion riyals in the year 2020, mainly driven by the positive growth in trading services, post-trading services and listing fees, which was supported by the strong performance. for the Saudi stock market during the year 2021.
The group’s total profit increased by 8.79% on an annual basis to reach 820.69 million riyals in the year 2021, compared to 754.40 million riyals in the year 2020, mainly due to the increase in the operating income of the group.
“Tadawul Group” stated that the operating profit of the group rose by 12.64% on an annual basis to reach 611.83 million riyals in the year 2021, compared to 543.16 million riyals in the year 2020, mainly due to the increase in the group’s total profit by 66.29 million riyals compared to an increase A moderate amount of 17.09 million riyals in general and administrative expenses, which was mitigated by 19.47 million riyals in return for a decrease in the value of financial assets.
The group’s profit before depreciation, amortization, interest, zakat and taxes (EBITDA) increased by 13.10% on an annual basis to reach 668.85 million riyals in 2021, compared to 591.37 million riyals in 2020, due to the growth of the group’s operating income compared to a moderate growth in operating expenses for the group.
The group’s zakat expenses decreased by 20.75% on an annual basis to reach 66.22 million riyals in the year 2021, compared to 83.56 million riyals in the year 2020, mainly due to the improvement of the financial position of the group during the year 2021.
The group indicated that the revenues of the capital markets sector, which includes revenues from trading services and income from listing fees, increased by 7.57% on an annual basis, to reach 489.84 million riyals in the year 2021.
Revenues from trading services increased by 7.13% on an annual basis to reach 409.36 million riyals in the year 2021, compared to 382.13 million riyals in the year 2020, and the reason for this increase is due to the increase in the daily average value of trading.
Revenue from listing fees increased by 9.88% to reach 80.48 million riyals in 2021, compared to 73.24 million riyals in 2020, mainly due to the increase in the number and volume of listings.
The information and technology services sector witnessed a decrease in revenues by 17.09% on an annual basis to reach 93.26 million riyals in the year 2021, compared to 112.50 million riyals in the year 2020, mainly due to non-recurring fees in the year 2020 AD related to licensing services and market information.
Revenues from after-trading services increased by 13.91% on an annual basis to reach 582.97 million riyals in the year 2021, compared to 511.77 million riyals in the year 2020, and the reason for this increase is due to the increase in the daily average value of trading.
New listings
For his part, the CEO of the Saudi Tadawul Group, Eng. Khaled Al-Hussan, said that the financial results of the group in the year 2021 reflect the flexible performance of the group and its plans to achieve growth in accordance with the objectives of the financial sector development program within the Kingdom’s ambitious vision 2030.
He added that the Saudi Tadawul Group, through its subsidiaries, continued to contribute to the development of the Saudi capital market and diversify its tools through new listings during the year 2021, which reflected an increase in the daily average value of traded shares by 7.5% and served as a link to pump more regional and international investments.
Dividend
In a separate statement, the Saudi Tadawul Group Holding Company announced the issuance of its board of directors’ resolution by passing, which includes a recommendation to distribute cash dividends to the company’s shareholders for the fiscal year 2021, with a total of 360 million riyals, with 120 million shares entitled to dividends.
“Tadawul Group” said that the share of the distribution of the distribution is 3 riyals per share, with a distribution ratio of 30% to the nominal value of the share.
The eligibility for dividends will be for the shareholders who own the company’s shares and are registered in the company’s shareholders register with the Securities Depository Center Company “Edaa” at the end of the second trading day following the day of the company’s general assembly meeting, which will be announced later.