BinDawood Holding Co. — Earnings Release 2020

Mar 29, 2021

BinDawood Holding Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

4161 · 29/03/2021 09:42:55 · Announcement #62456 · View on Saudi Exchange

BinDawood Holding Co. announces its Annual Financial Results for the Period Ending on 2020-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	5,156,472	4,843,772	6.455
Gross Profit (Loss)	1,671,891	1,644,530	1.663
Operational Profit (Loss)	514,571	518,264	-0.712
Net Profit (Loss) after Zakat and Tax	447,722	419,136	6.82
Total Comprehensive Income	445,187	416,908	6.783
Total Share Holders Equity (after Deducting Minority Equity)	1,312,940	1,186,353	10.67
Profit (Loss) per Share	3.92	3.67
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	Net profit for FY20 increased by 6.8% compared to FY19 due to the below factors:

Revenue reached SAR 5,156.5 million for the full year 2020, an increase of 6.5% as compared to SAR 4,843.8 million in 2019. The growth in sales was primarily driven by Danube supermarkets, which contributed SAR 3,655.5 million, a year-on-year increase of 17.5%. Danube’s record sales helped to offset a reduction in BinDawood sales. The decline in Bindawood sales was principally related to pandemic travel restrictions leading to an absence of pilgrim inflow during Umrah, Hajj and Ramadan seasons and store restrictions in the Makkah and Madinah area, coupled with the lack of promotional campaigns such as Back to School, year-end and food festivals. The Company’s gross profit increased by 1.7% whilst operating expenses increased by 2.5%. Statement of the type of external auditor's report Unmodified opinion Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion N/A Reclassification of Comparison Items Kindly refer to Note 24 of the Audited Financial Statements. Additional Information Key developments in 2020:

- Opened five new Danube branches.

- Approved a dividend of SAR 318.6 million during the year 2020.

- Announced its first international branch outside KSA will be located in Bahrain.

Significant movements in the Statement of Financial Position as at 31st December 2020 were noted as follows:

1. Non-current assets decreased by 5.2% in FY20 driven mainly by depreciation of assets and right-to-use leased assets

2. Current assets increased by 13.6% in FY20 on account of increase in receivables, cash and inventories

3. Current liabilities reduced by 6.9% in FY20 due to a reduction in capex payables as well as account payables

4. Shareholders’ equity increased by 10.7% driven by an increase in retained earnings Attached Documents  

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.