Jahez posts 18% profit jump to SAR 62.7 mln in H1 2023

03/09/2023 Argaam Exclusive

Jahez International Company for Information System Technology reported a net profit rise of 18% to SAR 62.7 million in the first half of 2023 from SAR 53.2 million in the prior-year period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 739.82 835.62 12.9 %
Gross Income 168.81 184.71 9.4 %
Operating Income 60.14 42.25 (29.8 %)
Net Income 53.22 62.70 17.8 %
Average Shares 209.84 209.84 -
EPS (Halala) 25.36 29.88 17.8 %

The profit growth was spurred by delivery platforms in Saudi Arabia. The segment reported a net profit rise of 45% year-on-year (YoY) to SAR 115.5 million. Orders grew by 17% YoY in the Kingdom, due to the group’s focus on expansion in 100 cities and maintaining a solid position in the markets where it currently operates.

 

On the other hand, delivery platforms outside the Kingdom incurred a net loss of SAR 41.1 million, primarily on the company’s expansion strategies and customer acquisition costs in order to gain a market share in the new markets.

 

The logistics segment, two years after establishment, recorded positive earnings before interest, taxes, depreciation, and amortization (EBITDA) of over SAR 7.1 million leveraging cost efficiencies initiatives and economies of scale.

 

The logistics business net losses decreased by 54% YoY to SAR 10.6 million in H1 2023.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 739.82 835.62 12.9 %
Gross Income 168.81 184.71 9.4 %
Operating Income 60.14 42.25 (29.8 %)
Net Income 53.22 62.70 17.8 %
Average Shares 209.84 209.84 -
EPS (Halala) 25.36 29.88 17.8 %

Shareholders’ equity, after minority interest, rose to SAR 1.07 billion as of June 30, 2023, from SAR 990.96 million a year earlier.

 

Attached Documents

 

 

                                                                            Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2020

158.68

21.43

2.04

H2 2020

300.63

18.26

1.74

H1 2021

486.46

28.72

2.74

H1 2022

673.11

88.35

8.42

H1 2022

739.82

53.22

5.17

H2 2022

862.66

 5.76

0.56

H1 2023

835.62

62.70

6.10

 

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Share Price

Jahez International Company for Information Systems Technology
37.60
1.00 2.73 %

Jahez International Company for Information Systems Technology (JAHEZ)

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Financial Ratios
Current
Market Cap (M Riyal) 7,889.98
Enterprise Value (EV) (M) 6,669.24
Shares Outstanding ((M)) 209.84
Book Value (BV) ( Riyal) 5.49
Par Value ( Halala) 50.00
Adjusted P/E (Last12) More than 100
Price/book 6.85
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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 158.68 - 39.67 - 20.33 -
H2 2020 300.63 - 68.86 - 20.12 -
H1 2021 486.46 206.6 % 94.26 137.6 % 31.45 54.7 %
H2 2021 673.11 123.9 % 151.26 119.7 % 87.84 336.6 %
H1 2022 739.82 52.1 % 168.81 79.1 % 60.14 91.2 %
H2 2022 862.65 28.2 % 190.37 25.9 % 80.71 (8.1 %)
H1 2023 835.62 12.9 % 184.71 9.4 % 42.25 (29.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 20.05 - 14.32 - 20.05 0.14
H2 2020 19.64 - 14.03 - 19.64 0.14
H1 2021 28.72 43.3 % 14.96 - 28.72 0.15
H2 2021 88.35 349.8 % 46.01 - 88.35 0.46
H1 2022 53.22 85.3 % 25.36 - 53.22 0.25
H2 2022 5.76 (93.5 %) 2.74 (79.53) 85.29 0.41
H1 2023 62.70 17.8 % 29.88 - 62.70 0.30

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 23.63 % - 8.64 %
H1 2021 20.72 % 6.89 % 6.14 %
H2 2021 21.17 % 10.81 % 10.10 %
H1 2022 22.65 % 11.13 % 10.02 %
H2 2022 22.41 % 10.26 % 8.64 %
H1 2023 22.09 % 9.90 % 8.71 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) Book Value (BV)
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 140.00 - - -
H2 2020 140.00 28.35 28.35 0.31
H1 2021 192.00 25.19 25.19 0.51
H2 2021 192.00 60.97 60.97 0.98
H1 2022 209.84 67.47 67.47 4.72
H2 2022 209.84 28.11 66.01 4.79
H1 2023 209.84 32.62 70.52 5.13

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H1 2022 67.37 67.37 9.62
H2 2022 More than 100 52.95 7.30
H1 2023 96.56 44.67 6.14

Business Segments (Million)

Compared With The
Period Delivery Platforms Segment Logistics Activity Other Activities Exclusions
Q2 2022 738.13 138.59 1.69 (138.59)
Q4 2022 859.18 171.78 3.47 (171.78)
Q2 2023 826.21 188.21 5.15 (183.95)

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