Preparation of the Financial Statements
In addition, there are no differences from the accounting standards issued by the Saudi Organization for Chartered and Professional Accountants (“SOCPA”). There are no material notes from the Auditor’s on the Company’s financial statements for the fiscal 2022.
Income Statement
| FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | |
| Operating revenue | 1,071,429,658 | 1,166,080,140 | 1,079,635,090 | 564,747,899 | 583,280,040 |
| Operating costs | (387,725,914) | (331,786,738) | (336,748,634) | (325,979,623) | (294,664,266) |
| Gross profit | 683,703,744 | 834,293,402 | 742,886,456 | 238,768,276 | 288,615,774 |
| General and administrative expenses | (256,317,557) | (221,535,351) | (177,719,748) | (193,786,573) | (207,543,808) |
| (Allowance)/reversal of allowance for expected credit losses |
(268,425) | 814,878 | (19,735,859) | (148,493) | (3,839,672) |
| Operating profit | 427,117,762 | 613,572,929 | 545,430,849 | 44,833,210 | 77,232,294 |
| Investment income | 74,724,252 | 40,596,274 | 38,797,145 | 94,343,939 | 79,211,522 |
| Share of net loss in an equity- accounted investee |
(9,918,562) | (3,279,208) | (2,101,685) | (1,610,095) | (6,629,084) |
| Finance costs | (2,371,987) | (2,695,456) | (2,525,112) | (3,174,036) | (2,976,469) |
| Other income | 2,737,273 | 5,732,352 | 4,478,947 | 18,900,768 | 1,348,402 |
| Non-operating profit | 65,170,976 | 40,353,962 | 38,649,295 | 108,460,576 | 70,954,371 |
| Profit for the year before Zakat | 492,288,738 | 653,926,891 | 584,080,144 | 153,293,786 | 148,186,665 |
| Zakat | (67,690,412) | (66,223,360) | (83,561,274) | - | - |
| Profit for the year after Zakat | 424,598,326 | 587,703,531 | 500,518,870 | 153,293,786 | 148,186,665 |
Balance Sheet
| FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | |
| ASSETS | |||||
| Current assets | |||||
| Cash and cash equivalents | 2,118,826,096 | 86,197,458 | 96,798,376 | 268,487,867 | 363,178,918 |
| Clearing participant financial assets | 4,060,678,204 | 18,013,567 | 32,177,558 | – | – |
| Accounts receivables, net | 64,348,393 | 60,547,611 | 57,364,818 | 41,179,879 | 38,594,342 |
| Prepaid expenses and other assets | 116,105,444 | 108,059,619 | 102,271,835 | 102,841,000 | 31,959,881 |
| Investments | 618,569,219 | 2,631,732,808 | 3,103,518,964 | 2,660,288,572 | 2,616,337,849 |
| Total current assets | 6,978,527,356 | 2,904,551,063 | 3,392,131,551 | 3,072,797,318 | 3,050,070,990 |
| Non-current assets | |||||
| Investment in equity-accounted investee | 400,697,523 | 375,616,085 | 378,895,293 | 40,996,978 | 42,607,073 |
| Property and equipment, net | 110,404,115 | 56,056,384 | 21,381,712 | 13,693,404 | 18,321,065 |
| Intangible assets, net | 139,298,385 | 144,727,277 | 179,552,282 | 176,516,175 | 114,622,164 |
| Investments | 55,809,077 | 55,272,377 | 101267886 | 231,554,876 | 306,327,691 |
| Right of use assets | 5,310,445 | 7,120,394 | 19,856,726 | 11,271,347 | – |
| Total non-current assets | 711,519,545 | 638,792,517 | 700,953,899 | 474,032,780 | 481,877,993 |
| Total assets | 7,690,046,901 | 3,543,343,580 | 4,093,085,450 | 3,546,830,098 | 3,531,948,983 |
| FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | |
| LIABILITIES AND SHAREHOLDER’S EQUITY | |||||
| Current liabilities | |||||
| Clearing participant financial liabilities | 4,031,775,573 | 18,013,349 | 22,177,557 | – | – |
| Lease liability | – | 982,913 | 9,128,643 | 4,263,087 | – |
| Accounts payables | 30,928,875 | 6,785,710 | 5,977,047 | 105,383,866 | 87,268,042 |
| Balance due to Capital Market Authority | 19,375,330 | 22,280,843 | 32,758,785 | 22,330,201 | 56,661,001 |
| Accrued expenses and other liabilities | 264,771,975 | 236,085,074 | 205,953,907 | 75,018,332 | 59,136,932 |
| Deferred revenue | 16,722,361 | 3,214,902 | 3,223,464 | 3,134,967 | 4,733,107 |
| Zakat payable | 67,221,868 | 66,663,698 | 83,561,274 | – | – |
| Total current liabilities | 4,430,795,982 | 354,026,489 | 362,780,677 | 210,130,453 | 207,799,082 |
| Non-current liabilities | |||||
| Provision for end-of-service benefits | 79,561,092 | 96,876,185 | 91,024,046 | 77,294,401 | 72,059,827 |
| Lease liability | – | – | 4,658,348 | – | – |
| Provision for specific obligations | – | – | – | – | 17,430,875 |
| Total non-current liabilities | 79,561,092 | 96,876,185 | 95,682,394 | 77,294,401 | 89,490,702 |
| Total liabilities | 4,510,357,074 | 450,902,674 | 458,463,071 | 287,424,854 | 297,289,784 |
| Shareholder’s equity | |||||
| Share capital | 1,200,000,000 | 1,200,000,000 | 1,200,000,000 | 1,200,000,000 | 1,200,000,000 |
| Statutory reserve | 360,000,000 | 360,000,000 | 376,963,633 | 326,911,746 | 311,582,367 |
| General reserve | – | – | 1,114,180,214 | 1,114,180,214 | 1,114,180,214 |
| Retained earnings | 1,619,689,827 | 1,532,440,906 | 943,478,532 | 618,313,284 | 608,896,618 |
| Total shareholder’s equity | 3,179,689,827 | 3,092,440,906 | 3,634,622,379 | 3,259,405,244 | 3,234,659,199 |
| Total liabilities and shareholder’s equity | 7,690,046,901 | 3,543,343,580 | 4,093,085,450 | 3,546,830,098 | 3,531,948,983 |