BinDawood Holding profit up 13% to SAR 67.1M in Q1 2025

BinDawood Holding Co. reported a net profit rise of 13% after minority interest to SAR 67.1 million in Q1 2025, from SAR 59.7 million in the year-earlier period.

The profit increase is driven by a 13.7% revenue growth to SAR 1.67 billion due to the rise in retail sales, strong seasonal campaigns, and opening three retail stores, including new convenience stores.

Meanwhile, sales benefited from stores opened in 2024 (full-period impact).

The company also reported higher growth in Future Retail Tech’s (FTR) both companies—International Application Co. (IACo) and Ykone.

IACo had strong online sales on addition of more dark stores, better product availability, fast order delivery, and good support from delivery apps like Jahez and the Chefz.

Ykone grew well in Europe and continued strong performance in the Middle East; and saw an improvement in India after the acquisition of the Barcode business.

BinDawood Holding’s newly acquired distribution business, which was acquired after the second quarter 2024, continued to show rising sales.

Furthermore, the newly acquired pharmacy business, which was acquired in Q1 2025, also contributed to revenue, along with organic growth, three standalone pharmacies and four in-store pharmacies (within BinDawood and Danube stores) were launched in Q1 2025, contributing to overall sales.

On the other hand, operating expenses rose 18.7% to SAR 438.5 million from SAR 369.5 million in Q1 2024.

The company’s three-month earnings dropped 37% from SAR 106.56 million in Q4 2024, on a lower profit margin.

Shareholders’ equity, no minority interest, amounted to SAR 1.35 billion at the end of Q1 2025, from SAR 1.45 billion a year earlier.

Attached documents 

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