Saudi Azm reports 26% profit growth to SAR 10.4M in Q1 2024/25

05/11/2024 Argaam Exclusive

Saudi Azm for Communication and Information Technology Co. reported a net profit of SAR 10.37 million in the first quarter of the fiscal year (FY) 2024/2025, a 26% rise from SAR 8.24 million in the year-earlier period.

 

Financial results summary (SAR mln)

Item

Q1 FY24/25

Q1 FY23/24

Change

Revenues

(SAR mln)

60.68

50.31

+20.6%

Net Income

(SAR mln)

10.38

8.24

+25.9%

Average shares

(mln shares)

60

60

-

EPS

(SAR / share)

0.17

0.13

+25.9%

Azm posted a 20.62% rise in revenues to SAR 60.68 million on winning new projects. It also posted a gross profit of SAR 3.88 million and other revenues of SAR 0.17 million.



However, it registered higher operating expenses, financing costs, as well as Zakat and income tax expenses at SAR 2.16 million, SAR 0.56 million, and SAR 0.15 million, respectively.

 

Shareholders’ equity, after excluding minority interest, amounted to SAR 98.73 million by the end of Q1 2024/2025, compared to SAR 77.55 million a year earlier.

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Share Price

Saudi Azm for Communication and Information Technology Co.
30.00
(2.75) (8.40 %)

Saudi Azm for Communication and Information Technology Co. (AZM)

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Financial Ratios
Current
Market Cap (M Riyal) 1,800.00
Enterprise Value (EV) (M) 1,756.49
Shares Outstanding ((M)) 60.00
Book Value (BV) ( Riyal) 1.14
Par Value ( Halala) 50.00
Adjusted P/E (Last12) More than 100
Price/book 26.31
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 69.44 - 14.21 - 10.03 -
H2 2021 65.70 - 15.02 - 6.42 -
H1 2022 73.25 5.5 % 15.69 10.4 % 8.75 (12.8 %)
H2 2022 79.31 20.7 % 15.12 0.7 % 5.76 (10.3 %)
H1 2023 102.92 40.5 % 22.56 43.8 % 11.56 32.1 %
H2 2023 67.91 (14.4 %) 15.91 5.2 % 5.77 0.0 %
H1 2024 107.42 4.4 % 25.76 14.2 % 14.23 23.1 %
H2 2024 110.22 62.3 % 32.06 101.5 % 13.44 133.2 %
2024 217.64 27.4 % 57.82 50.3 % 27.68 59.7 %


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 - - - - - -
H2 2020 - - - - - -
H1 2021 9.40 - 15.67 - 9.40 0.16
H2 2021 6.13 - 10.22 - 6.13 0.10
H1 2022 8.00 (15.0 %) 13.33 - 8.00 0.13
H2 2022 11.11 81.2 % 18.51 5.71 5.39 0.09
H1 2023 10.98 37.3 % 18.30 - 10.98 0.18
H2 2023 12.10 9.0 % 20.17 6.32 5.79 0.10
H1 2024 13.41 22.2 % 22.36 - 13.41 0.22
H2 2024 14.53 20.1 % 24.22 2.11 12.42 0.21
2024 27.95 21.1 % 46.58 2.11 25.83 0.43

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 21.63 % 13.24 % 11.50 %
H1 2022 22.10 % 11.96 % 10.17 %
H2 2022 20.20 % 10.23 % 8.78 %
H1 2023 20.68 % 10.64 % 8.98 %
H2 2023 22.52 % 11.44 % 9.81 %
H1 2024 23.77 % 12.70 % 10.95 %
H2 2024 26.57 % 13.90 % 11.87 %
2024 26.57 % 13.90 % 11.87 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 - - - -
H2 2020 - - - -
H1 2021 60.00 - - -
H2 2021 60.00 25.89 25.89 0.54
H1 2022 60.00 23.55 23.55 0.69
H2 2022 60.00 31.84 22.32 0.86
H1 2023 60.00 36.81 27.29 0.96
H2 2023 60.00 38.47 27.94 1.14
H1 2024 60.00 42.53 32.00 1.38
H2 2024 60.00 46.58 43.06 1.47

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -
H1 2022 33.97 33.97 11.58
H2 2022 27.01 38.53 9.95
H1 2023 31.24 42.14 11.95
H2 2023 28.33 39.01 9.56
H1 2024 43.26 57.49 13.36
H2 2024 64.94 70.26 20.52

Business Segments (Million)

Compared With The
Period Corporate services Third-party platforms Advisory Proprietary Technologies
Q2 2020 47.02 5.89 12.15 4.37
Q2 2021 47.02 5.89 12.15 4.37
Q4 2021 50.18 9.55 4.26 1.72
Q2 2022 41.37 3.41 22.58 5.89
Q4 2022 48.08 11.17 16.62 3.45
Q2 2023 63.10 21.98 16.01 1.83
Q4 2023 27.06 (6.47) 8.50 38.81
Q2 2024 44.24 18.87 10.23 34.07
Q4 2024 71.88 (0.91) 14.37 24.87

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