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Edarat’s 2022 profit jumps 95% to SAR 12.6 mln
31/01/2023
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Nomu-listed Edarat Communications and Information Technology Co. (Edarat) reported a net profit of SAR 12.6 million in 2022, up 95% compared to SAR 6.5 million in the previous year, driven by a 58% year-on-year (YoY) increase in revenue.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 37.33 | 58.89 | 57.8 % |
| Gross Income | 12.79 | 23.80 | 86.0 % |
| Operating Income | 7.47 | 14.31 | 91.5 % |
| Net Income | 6.48 | 12.60 | 94.5 % |
| Average Shares | 2.52 | 2.52 | - |
| Earnings Per Share before unusual items | 2.57 | 5.00 | 94.5 % |
| EPS (Riyals) | 2.57 | 5.00 | 94.5 % |
Gross profit also jumped 83% YoY.
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 26.50 | 30.35 | 14.5 % |
| Gross Income | 8.95 | 10.15 | 13.4 % |
| Operating Income | 6.50 | 7.11 | 9.3 % |
| Net Income | 5.65 | 6.33 | 12.1 % |
| Average Shares | 2.52 | 2.52 | - |
| Earnings Per Share before unusual items | 2.24 | 2.51 | 12.1 % |
| EPS (Riyals) | 2.24 | 2.51 | 12.1 % |
Total shareholders’ equity, with no minority interest, stood at SAR 21.46 million by the end of 2022, compared to SAR 12.91 million a year earlier.
Total comprehensive income came in at SAR 12 million, up from SAR 6.4 million in 2021. Statutory reserve from retained earnings was raised to 30% of capital.
View other reports
Share Price
Edarat Communication and Information Technology Co. (EDARAT)
| Current | |
| Market Cap (M Riyal) | 1,461.60 |
| Enterprise Value (EV) (M) | 1,451.33 |
| Shares Outstanding ((M)) | 2.52 |
| Book Value (BV) ( Riyal) | 24.95 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | More than 100 |
| Price/book | 23.24 |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 28.54 | 163.5 % | 13.65 | 255.4 % | 7.21 | 643.1 % |
| H2 2022 | 30.35 | 14.5 % | 10.15 | 13.4 % | 7.11 | 9.3 % |
| 2022 | 58.89 | 57.8 % | 23.80 | 86.0 % | 14.31 | 91.5 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | Earnings Per Share before unusual items |
|---|---|---|---|---|---|---|
| H1 2022 | 6.27 | 653.5 % | 2.49 | - | 6.27 | 2.49 |
| H2 2022 | 6.33 | 12.1 % | 2.51 | - | 6.33 | 2.51 |
| 2022 | 12.60 | 94.5 % | 5.00 | - | 12.60 | 5.00 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 41.06 % | 26.68 % | 21.65 % |
| H2 2022 | 40.41 % | 27.77 % | 21.40 % |
| 2022 | 40.41 % | 27.77 % | 21.40 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 2.52 | 4.73 | 4.73 | 6.24 |
| H2 2022 | 2.52 | 5.00 | 5.00 | 8.52 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | 12.02 | 12.02 | 7.06 |
Business Segments (Million)
Q2 2022
| Period | Engineering Services for Data Centres | Cloud computing services | Branches revenue |
|---|---|---|---|
| Q2 2022 | 20.66 | 5.78 | 2.10 |
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