On 2026-08-10 08:04:59 (Saudi Time), BinDawood Holding Co. announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending 30 June 2026, BinDawood Holding's sales/revenue rose 9.71% YoY to SAR 3,454.47 million (H1 2025: SAR 3,148.70 million), driven by higher customer traffic and store expansion in grocery retail, the full six-month contribution of the acquired pharmacy segment, Toy Triangle's full-period contribution alongside new food and non-food product lines in distribution, and strong growth from Ykone in the technology segment. Gross profit increased 8.899% YoY to SAR 1,156.49 million, supported by enhanced supplier investment, improved product mix, and the integration of pharmacy stores within grocery outlets, while total operating expenses rose to SAR 948 million from SAR 892.4 million in H1 2025, reflecting full-period consolidation of retail pharmacy and Toy Triangle costs, normalized 2025 expansion costs, and one month of Vaza Foods expenses. Net profit attributable to shareholders increased only marginally by 0.638% YoY to SAR 119.71 million (H1 2025: SAR 118.95 million), as the 22% growth in operating profit to SAR 211.31 million was substantially offset by higher finance costs, lower finance income, and a greater share of consolidated profit being attributable to non-controlling interests from partially owned subsidiaries compared with H1 2025.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 9.3% to SAR 1,643.03 million (from SAR 1,811.44 million in Q1 2026), primarily driven by a seasonal slowdown in Retail Grocery and softened Travel and Luggage distribution due to lower travel activity. Net profit attributable to shareholders fell 29.3% to SAR 49.58 million (from SAR 70.13 million in Q1 2026), as lower operating profit combined with higher finance costs associated with lease liabilities and acquisition financing for Pharmacy and Vaza Foods weighed on earnings. The decline was further amplified by increased profit contributions from partially owned subsidiaries, resulting in a higher share of profit attributable to non-controlling interests compared with Q1 2026.

Other Items

The external auditor issued an unmodified conclusion with no additional comments, reservations, or other matters noted. No material risks, going concern uncertainties, or debt covenant breaches were disclosed. Key events during H1 2026 included the opening of 3 Danube and BinDawood grocery stores (bringing the total to 103 stores) and 8 pharmacy stores (bringing the total to 209 stores), the completed acquisition of Vaza Foods Company, the opening of a food processing meat factory, and the acquisition of three companies within Ykone. Changes in the statement of financial position as at 30 June 2026 included an increase in non-current assets driven by higher right-of-use assets and goodwill, a slight rise in current assets from higher receivables, prepayments and advances, a decrease in current liabilities mainly due to lower accounts payable and the current portion of bank borrowings, an increase in non-current liabilities from higher lease liabilities and the non-current portion of bank loans, and an improvement in total equity attributable to higher retained earnings, with total shareholders' equity (after deducting minority equity) reaching SAR 1,609,463,210 as at 30 June 2026 (30 June 2025: SAR 1,419,416,035), a 13.389% increase. No comparative figures for the previous period were reclassified.

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