Earnings Report /
Saudi Arabia

Saudi Tadawul Group: Lower income on volume normalization

  • Revenues decreased by 4.9% yoy (+1.4% qoq) to SAR298mn, in-line with our estimates

  • The Capital market revenue decreased by 14.2% yoy due to a decline of 23.6% yoy in trading services revenue

  • EBITDA stood at SAR155mn, down 18.8 yoy (-6.7% qoq), driven by a decline in revenue and higher opex

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Head of Equity Research

SNB Capital
16 August 2022
Published bySNB Capital

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