Saudi Tadawul Group Holding (1111) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw robust market expansion and sustained investor confidence, with market capitalization reaching SAR 9,978 billion (USD 2.66 trillion), up 9.21% year-over-year, and 366 listed companies.

• IPO momentum continued with 7 Main Market and 8 Nomu listings, a successful Sukuk listing, and capital raised through IPOs surged 119.54% year-over-year to SAR 4.13 billion.

• Strategic initiatives included launching Edaa Connect, a digital mutual funds platform, and a Capital Management System to enhance IPO efficiency and inclusivity.

• Expanded global presence through the Capital Markets Forum in Hong Kong, collaboration with Jakarta Futures, and partnerships with Google, Deloitte, and FIS Global to advance technology and risk management.

• The Group completed the acquisition of the remaining 49% stake in Direct Financial Network Company (DFN) in February 2025.

Financial highlights

• Operating revenues for Q1 2025 were SAR 328.2 million (USD 87.5 million), down 15.3% year-over-year.

• Net income after Zakat was SAR 120.5 million (USD 32.1 million), a 40.2% decrease year-over-year, with a margin of 36.7%.

• EBITDA reached SAR 129.8 million (USD 34.6 million), down 38.1% year-over-year, with an EBITDA margin of 39.6%.

• Earnings per share stood at SAR 1.00 (USD 0.27), down 40.2% year-over-year.

• Investment income rose 24.8% year-over-year, driven by higher assets under management.

Outlook and guidance

• The group aims to position Saudi Arabia among the top three global stock markets, focusing on growth, diversification, and global connectivity.

• Strategic priorities include expanding debt and derivatives markets, enhancing data and analytics offerings, advancing sustainability initiatives, and reinforcing the market's role as a global investment hub.

• Management notes that Q1 results are not necessarily indicative of full-year performance; no forward-looking financial guidance provided.