BinDawood Holding Co

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Removal of Hajj and Umrah restrictions to drive profitability. Margins to improve in 2023f but remain lower than 2017-2021 run-rate. Continuation of store openings and growing online sales.

Total revenue grew by 9.7% yoy to SAR1.18bn in Q3 22. Sales of corporate customers of Danube brand in Q3 22 dropped by SAR79mn yoy. Gross profits decreased by 22.7% yoy to SAR307mn in Q3 22.

Revenues increased by 9.7% yoy (-3.1% qoq) to reach SAR1.18bn and came in-line with our estimates of SAR1.16bn. During the quarter, BinDawood opened its first international supermarket in Bahrain. Gross margins contracted significantly to 26.0% vs 36...

Revenue increased by 8.7% yoy (+3.9% qoq) to reach SAR1.18bn. During the quarter, BinDawood opened its first two Danube express stores at Haramain rail stations. Gross margins contracted by 460bps yoy to 31.0%.

During the quarter, the company opened its first two Danube express stores at the Haramain railway stations. The company has completed the acquisition of Ykone and ITAC. The mega store will be supported by smaller format dark stores to provide less t...

Total revenue increased by 4.5% yoy (+11.2% qoq) to SAR1.18bn in Q1 22 mainly driven by Ramadan and Back to School seasons. Sales of BinDawood stores increased by 13.8% yoy (+18.5% qoq), benefiting from the removal of Covid related restrictions. Net ...