Sure posts 18% increase in profit to SAR 18.1 mln in 2021

26/09/2022 Argaam Exclusive

Sure Global Technology Co. reported a net profit of SAR 18.1 million for 2021, an increase of 18% from SAR 15.4 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 134.80 185.43 37.6 %
Gross Income 37.84 41.16 8.8 %
Operating Income 19.12 21.86 14.4 %
Net Income 15.41 18.13 17.6 %
Average Shares 7.50 7.69 2.6 %
EPS (Riyals) 2.05 2.36 14.7 %

The increase was driven by a 38% year-on-year (YoY) rise in revenue and an 11% YoY decline in Zakat provision.

 

This came despite a 49% YoY increase in the cost of revenue, coupled with higher financing cost that reached SAR 562,000 in 2021 from 300,000 in the year before.



Current Half Annual Comparison (M)

Compared With The
Item H2 2020 H2 2021 Change‬
Revenues 78.85 133.06 68.8 %
Gross Income 24.16 22.86 (5.4 %)
Operating Income 13.15 11.97 (9.0 %)
Net Income 10.23 9.44 (7.8 %)
Average Shares 7.50 7.69 2.6 %
EPS (Riyals) 1.36 1.23 (10.1 %)

Shareholders’ equity (no minority interest) stood at SAR 81.67 million as of Dec. 31, 2021, from SAR 68.47 million a year earlier.

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Share Price

Sure Global Tech Co.
88.50
(1.50) (1.67 %)

Sure Global Tech Co. (SURE)

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Financial Ratios
Current
Market Cap (M Riyal) 680.57
Enterprise Value (EV) (M) 614.94
Shares Outstanding ((M)) 7.69
Book Value (BV) ( Riyal) 14.88
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 23.73
Price/book 5.95
more


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 55.95 - 13.68 - 5.97 -
H2 2020 78.85 - 24.16 - 13.15 -
H1 2021 52.38 (6.4 %) 18.30 33.7 % 9.89 65.7 %
H2 2021 133.06 68.8 % 22.86 (5.4 %) 11.97 (9.0 %)
2021 185.43 37.6 % 41.16 8.8 % 21.86 14.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 5.18 - 0.69 - 5.18 0.69
H2 2020 10.23 - 1.36 - 10.23 1.36
H1 2021 8.69 67.8 % 1.13 - 8.69 1.13
H2 2021 9.44 (7.8 %) 1.23 - 9.44 1.23
2021 18.13 17.6 % 2.36 - 18.13 2.36

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 28.07 % 15.71 % 11.43 %
H1 2021 32.35 % 19.46 % 14.42 %
H2 2021 22.20 % 12.88 % 9.78 %
2021 22.20 % 12.88 % 9.78 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2012 - - - -
H2 2012 - - - -
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 7.50 - - 5.70
H2 2020 7.50 2.05 2.05 9.13
H1 2021 7.69 2.46 2.46 9.38
H2 2021 7.69 2.36 2.36 10.61

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
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 - - -

Business Segments (Million)

Compared With The
Period Infrastructure Managed Sevices Digital Services Products

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