Saudi Tadawul Group’s 2024 net profit rose by 59% to $166 million due to higher revenues
Saudi Tadawul Group Holding’s yearly net profit increased by 59.4% to $165.8 million (SAR 621.8 million). This growth was due to higher operating revenue, according to a stock exchange filing on Sunday.
Tadawul Earnings
Tadawul’s profit grew because its total revenue for the year increased by 38.4% compared to last year, reaching $385.7 million (SAR 1.4 billion), according to a report on the Saudi Exchange.
The rise in revenue was mainly due to higher earnings from trading services and post-trade services. Trading volumes increased by 39.4%, and revenue from other services (not related to trading) went up by 29.4%.
Tadawul’s expenses in 2024 were $234.7 million (SAR 880.4 million), up by 18.3% from last year. This increase was due to the financial integration of Direct Financial Network (starting from May 7, 2023) and higher staff costs as the company hired more employees.
Tadawul’s total income for the year was $166 million (SAR 622.7 million), showing a 60.5% increase. Its total shareholders’ equity (after removing minority interest) reached $930.1 million (SAR 3.5 billion), up by 10.6%.
Earnings per share grew by 59.4% to $1.4 (SAR 5.18) in 2024, compared to $0.87 (SAR 3.25) in 2023.
Other Key Figures
- Revenue from the Capital Markets segment (which includes trading and listing fees) rose by 37.5% to $122.9 million (SAR 461.3 million).
- Revenue from the Data and Technology Services segment increased by 33.5% to $58.6 million (SAR 219.6 million), mainly due to higher earnings from co-location services and contributions from Direct Financial Network.
- Revenue from the Post-Trade segment grew by 33.7% to $204.2 million (SAR 765.7 million).
Tadawul changed its structure in April 2021 and became the Saudi Tadawul Group. It now operates as a holding company with four subsidiaries: Saudi Exchange, Securities Clearing Center (Muqassa), Securities Depository Center (Edaa), and Wamid.
Big Numbers
- Tadawul’s total assets reached $2.4 billion (SAR 9.1 billion) in 2024.
- As of March 2, 2025 (11:46 a.m. AST), Tadawul’s stock price rose by 0.76% to $57.6 (SAR 212.6), bringing its total market value to $6.8 billion (SAR 25.3 billion).
Published: 3rd March 2025
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