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The Saudi Exchange (Tadawul) posted net profit of SAR 501 million (EPS: SAR 4.17) for 2020, compared to a net profit of SAR 153 million a year earlier.
|
Income Statement – SAR mln |
|||
|
Period |
2019 |
2020 |
Variation % |
|
Revenue |
565 |
1079 |
+91% |
|
Direct costs |
(327) |
(356) |
(9 %) |
|
Gross profit |
238 |
723 |
+203% |
|
Gross profit margins (%) |
47.0% |
67.0% |
20% |
|
General and administrative expenses |
(195) |
(180) |
+8% |
|
Net profit |
153 |
501 |
+227% |
|
Average number of shares (mln) |
120 |
120 |
-- |
|
EPS (SAR) |
1.28 |
4.17 |
+227% |
The profit rise was mainly attributed to an over 91% surge in the full-year revenue to SAR 1.100 billion, compared to SAR 565 million a year earlier, driven by a 141% year-on-year (YoY) rise in trading commissions.
Moreover, Tadawul’s profit before Zakat skyrocketed 281% YoY to SAR 584 million.
The company made several achievements as part of its plan to develop the capital market. It completed the fifth and sixth phases of inclusion in FTSE Russell Emerging Market Index.
The company also launched the derivatives market, the MSCI TADAWUL 30 Index (MT30), and the iBoxx Tadawul SAR Government Sukuk Index, a riyal-denominated index aimed at tracking the performance of Saudi government Sukuks, in coordination with IHS Markit.
Tadawul also launched the technical innovation company Wamid.
Meanwhile, the number of qualified foreign investors (QFIs) rose by 19% from 1,939 in January to more than 2,300 by the end of 2020, with net investments worth SAR 22.4 million, according to the company’s annual report.
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