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2018
Highlights

It was a banner
year for Tadawul

Chairperson’s
statement

A giant leap
forward

Chief Executive Officer’s
Message

The
springboard

 

For the year ended 31 December 2018
(Saudi Arabian Riyals)

For the year ended 31 December Notes 2018 2017
(Restated)
Cash flows from operating activities:
Profit for the year 148,186,665 145,302,709
Adjustments to reconcile net profit for the year to net cash generated from operating activities:
Depreciation and amortization 19&20 32,271,083 30,545,550
Charge for credit losses on account receivables 3,839,671 1,363,561
Reversal for impairment on investments held at amortized cost (65,573) –
Loss/(gain) on sale on property and equipment 49,355 (3,656)
Provision for employees’ end-of-service benefits 14 14,418,075 792,232
Realised gain on investments 21 (10,679,758) (6,864,227)
Unrealised gain on investments 21 (3,753,316) (16,702,044)
Share of loss in equity-accounted investee 7 6,629,084 2,409,809
Changes in operating assets and liabilities:
Account receivables (15,543,634) (18,559,057)
Prepaid expenses and other current assets (7,020,494) 10,090,005
Account payables 36,151,101 (9,613,699)
Balance due to Capital Market Authority 44,779,519 (4,377,476)
Deferred revenue (1,096,690) 3,180,227
Accrued expenses and other current liabilities 10,625,595 5,966,411
Cash generated from operations 258,790,683 143,530,345
Employees’ end-of-service benefits paid 14 (13,880,716) (6,208,090)
Net cash flows generated from operating activities 244,909,967 137,322,255
Cash flows from investing activities:
Purchase of investments (1,224,838,967) (1,724,196,739)
Proceeds from disposal of investments 907,992,408 2,202,240,332
Purchase of intangible assets and property and equipment (57,467,089) (21,710,659)
Proceeds from disposal of property and equipment (475,228) 4,500
Net cash flows (used in)/generated from investing activities (374,788,876) 456,337,434
Cash flows from financing activities:
Dividend paid 28 (120,000,000) (90,000,000)
Net cash used in financing activities (120,000,000) (90,000,000)
Net change in cash and cash equivalents (249,878,909) 503,659,689
Cash and cash equivalents at the beginning of the year 613,057,827 109,398,138
Cash and cash equivalents at the end of the year 11 363,178,918 613,057,827

The accompanying notes from (1) through (30) form an integral part of these consolidated financial statements

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