BinDawood Reports SAR 269.93M Net Profit in Year 2025
BINDAWOOD 4161.SA | 0.00 |
On 2026-03-10 08:05:59 (Saudi Time), BinDawood Holding Co. announced its Annual financial results for the twelve months ended on December 31, 2025.
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 6,347,958,607 | 5,677,685,762 | 11.8 | ||
| Gross Profit (Loss) | 2,165,748,298 | 1,893,784,751 | 14.36 | ||
| Operational Profit (Loss) | 395,727,489 | 369,064,995 | 7.22 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 269,931,705 | 272,158,318 | -0.82 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 285,396,223 | 258,580,444 | 10.37 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,530,037,332 | 1,398,949,216 | 9.37 | ||
| Profit (Loss) per Share | 0.24 | 0.24 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year |
BinDawood Holding (BDH) Revenue Performance – FY 2025
• Total Revenue: Achieved SAR 6,348.0 million • Annual Growth: Represents an 11.8% rise over FY 2024 (SAR 5,677.7 million) Key Reasons for Growth: 1. Retail BinDawood and Danube (Grocery Stores): Growth driven by: o Contribution from new store openings (9 stores) and complete integration of the 2024 rollout. o Noticeable rebound in H2 2025 supported by enhanced customer engagement activity, after a short-term sales slowdown in Q2 2025 caused by the change in customer’s preferences.
Zahrat Al Rawdah (Pharma Stores): Growth driven by: o Improved like-for-like revenue growth. o Contribution from 14 newly launched independent stores. o Expansion through 27 integrated pharmacies within BinDawood and Danube stores. o Consolidation impact from February 2025 onward. o Operational synergies realized through efficiency enhancements.
2. Distribution: Jumairah Trading Company: Growth driven by: o Expanded merchandise assortment and entry into new categories. o Upside from peak “Back-to-School” seasonality. o Full-year consolidation impact in 2025 from the August 2024 acquisition. o Partial contribution from Toy Triangle acquisition in Q4 2025.
3. Tech: International Applications trading Company (IACO): Growth driven by: o Increase in the number of online orders driven by the expansion of in-store online operations and dark stores. o Addition of aggregators to the online segment.
Ykone: Growth driven by: o High-level performance from Ykone in the Middle East. o Upgraded financial outcomes across the Western Europe market. o Full-year consolidation of Barcode Company operations. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
Gross Profit:
Growth driven by: o Rose 14.4% to SAR 2,165.7 million; margins expanded from 33.4% to 34.1%. Volume Drivers: o Driven by improved like-for-like performance across all the segments. o Additional uplift from retail pharmacy consolidation and a full year of distribution operations.
Margin Catalysts: o Stable grocery margins supported by product mix and supplier income, despite competitive pricing and sector-wide cost pressures. o Effective synergy realization between pharmacy and distribution sectors within the core retail platform.
Operating Expenses: Totaled SAR 1,775.9 million in FY 2025, rising from SAR 1,531.0 million in FY 2024. Contributing Factors: o New store openings and the openings made last year increased absolute operating expenses; however, they did not affect the operational expenses -to-sales ratio in the retail segment. o Stable grocery opex margins reflect effective cost synergies and operational efficiency. o Consolidation of opex driven by the retail pharmacy following its acquisition in February 2025 including partial one-off acquisition costs and full-year impact of opex of distribution segment. o Additional incremental opex relates to the Toy Triangle acquisition in Q4 2025. o Higher opex related to the mega dark store, which were incurred in the current year as the pilot phase commenced.
Operating profit Increased by 7.2% to SAR 395.7 million (2024: SAR 369.1 million). Growth was driven by: o Improved performance across all operating segments and margin-accretive acquisitions. o Strategic expansion into higher-margin pharmacy and distribution segments increased the gross margin to 34.1%. o Despite expansion, the OPEX-to-sales ratio in the core retail segment remained stable. However, operating expenses (OPEX) rose by 16.0% due to infrastructure scaling and segment expansion.
o Strong operating leverage, disciplined cost management, and improved operational efficiency supported sustainable and high-quality earnings growth.
Net Profit: Despite better operational performance, Net Profit slightly decreased by 3.6% in FY 2025 (SAR 270.0 million, compared to SAR 280.2 million in the previous year). Contributing Factors: o Higher Finance Costs: Net profit was impacted by increased finance expenses related to the bank loan secured to partially fund the acquisition of Zahrat Al Rawdah in Q1 2025. o Lower Finance Income: Finance income declined year-on-year due to lower surplus cash balances following the strategic deployment of funds for the acquisitions of Zahrat Al Rawdah and Toy Triangle. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | Not applicable |
| Reclassification of Comparison Items | None |
| Additional Information |
Changes in the Statement of Financial Position as at 31 December 2025 were as follows:
• Non-current assets: Increased due to increase of property and equipment, goodwill and right-of-use assets. • Current assets: Rose slightly, driven by higher inventories and receivables. • Current liabilities: Increased mainly due to increase of the current portion of bank borrowings and accounts payable, accruals and other liabilities. • Non-current liabilities: Increased due to increased lease liabilities and non-current portion of bank borrowings. • Total equity: Improved mainly due to an increase in retained earnings. |
| Attached Documents |
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Year-on-Year Performance Drivers
Sales increased 11.8% YoY to SAR 6,347.96 million, driven by new store openings across retail segments, full-year consolidation of acquisitions including Zahrat Al Rawdah and distribution operations, and improved like-for-like performance. Net profit declined slightly by 0.82% to SAR 269.93 million despite 7.22% growth in operating profit to SAR 395.73 million. The net profit decrease was primarily attributed to higher finance costs from bank loans used to fund the Zahrat Al Rawdah acquisition and lower finance income due to reduced cash balances following strategic acquisitions.
Other Items
The auditors issued an unmodified opinion with no additional comments or qualifications. BinDawood Holding reported revenue growth of 11.8% to SAR 6,347,958,607 and gross profit margin expansion from 33.4% to 34.1%, reaching SAR 2,165,748,298. Operating profit increased 7.22% to SAR 395,727,489, while net profit attributable to shareholders decreased 0.82% to SAR 269,931,705 due to higher finance costs from acquisition funding. Total shareholders equity grew 9.37% to SAR 1,530,037,332. The company expanded through acquisitions of Zahrat Al Rawdah pharmacy chain and Toy Triangle, adding 9 new grocery stores, 14 independent pharmacies, and 27 integrated pharmacy locations within existing stores.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=93564&anCat=1&cs=4161&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/16909_1821_2026-03-09_23-48-01_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.