MIS Q1 2023 profit spikes to SAR 46.6 mln

Al Moammar Information Systems Co. (MIS) reported a net profit spike to SAR 46.6 million in Q1 2023, from SAR 4.6 million in the year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q1 2022	Q1 2023	Change‬
Revenues	106.60	437.48	310.4 %
Gross Income	28.79	76.45	165.5 %
Operating Income	8.61	54.04	528.0 %
Net Income	4.60	46.57	911.9 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.15	1.55	911.9 %

Item	Q4 2022	Q1 2023	Change‬
Revenues	313.19	437.48	39.7 %
Gross Income	73.44	76.45	4.1 %
Operating Income	42.08	54.04	28.4 %
Net Income	49.33	46.57	(5.6 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	1.64	1.55	(5.6 %)

MIS recorded better revenue across all product lines and services. The growth in revenue was driven by a healthy order backlog and new awards received in the current year.

The company also reported higher gross margin contribution and continued operational efficiency during the current quarter, despite an increase in operational expenses and higher finance charges.

Gross profit climbed to SAR 76.45 million in the current quarter from SAR 28.79 million in Q1 2022.

Compared to Q4 2022, the first-quarter net profit decreased by 5.6% from SAR 49.33 million. MIS was hurt by a gain on the disposal of Edarat Group, an associate, which was recorded as a one-off item in Q4 2022 at SAR 15.23 million.

Shareholders’ equity, no minority interest, jumped to SAR 381.47 million by March 31, 2023, compared to SAR 311.91 million in the year-earlier period.

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Share Price

Al Moammar Information Systems Co. (MIS)

	Current
Market Cap (M Riyal)	4,950.00
Enterprise Value (EV) (M)	5,708.21
Shares Outstanding ((M))	30.00
Book Value (BV) ( Riyal)	13.91
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
Price/book	11.86
Return on Average Assets (%) (TTM)	4.7
Return on Average Equity (%) (TTM)	29.6

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	568.53	-	108.74	-	52.84	-
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	716.81	26.1 %	96.87	(10.9 %)	53.84	1.9 %
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	654.02	(8.8 %)	98.46	1.6 %	55.45	3.0 %
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	750.98	14.8 %	119.27	21.1 %	70.95	28.0 %
Q1 2018	122.10	-	16.32	-	4.44	-
Q2 2018	273.42	-	30.05	-	19.70	-
Q3 2018	216.66	-	34.74	-	22.32	-
Q4 2018	273.97	-	52.51	-	39.43	-
2018	886.15	18.0 %	133.62	12.0 %	85.89	21.1 %
Q1 2019	211.22	73.0 %	30.57	87.4 %	18.26	311.3 %
Q2 2019	238.12	(12.9 %)	35.84	19.3 %	19.75	0.3 %
Q3 2019	229.94	6.1 %	33.12	(4.7 %)	20.74	(7.1 %)
Q4 2019	318.23	16.2 %	64.29	22.4 %	49.03	24.4 %
2019	997.52	12.6 %	163.82	22.6 %	100.20	16.7 %
Q1 2020	228.04	8.0 %	37.61	23.0 %	21.92	20.1 %
Q2 2020	319.51	34.2 %	48.37	34.9 %	26.87	36.0 %
Q3 2020	234.81	2.1 %	44.63	34.8 %	27.08	30.6 %
Q4 2020	-	-	42.28	(34.2 %)	22.43	(54.3 %)
2020	674.79	(32.4 %)	173.23	5.7 %	98.30	(1.9 %)
Q1 2021	143.44	(37.1 %)	32.40	(13.9 %)	14.99	(31.6 %)
Q2 2021	148.16	(53.6 %)	34.85	(28.0 %)	17.98	(33.1 %)
Q3 2021	171.97	(26.8 %)	42.19	(5.5 %)	20.59	(24.0 %)
Q4 2021	175.26	-	57.28	35.5 %	23.70	5.7 %
2021	638.82	(5.3 %)	166.72	(3.8 %)	77.26	(21.4 %)
Q1 2022	106.60	(25.7 %)	28.79	(11.1 %)	8.61	(42.6 %)
Q2 2022	171.03	15.4 %	48.21	38.3 %	21.79	21.2 %
Q3 2022	198.80	15.6 %	52.33	24.0 %	29.30	42.3 %
Q4 2022	313.19	78.7 %	73.44	28.2 %	42.08	77.5 %
2022	789.62	23.6 %	202.77	21.6 %	101.78	31.7 %
Q1 2023	437.48	310.4 %	76.45	165.5 %	54.04	528.0 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	568.53	-	108.74	-	52.84	-
2015	716.81	26.1 %	96.87	(10.9 %)	53.84	1.9 %
2016	654.02	(8.8 %)	98.46	1.6 %	55.45	3.0 %
2017	750.98	14.8 %	119.27	21.1 %	70.95	28.0 %
2018	886.15	18.0 %	133.62	12.0 %	85.89	21.1 %
2019	997.52	12.6 %	163.82	22.6 %	100.20	16.7 %
2020	674.79	(32.4 %)	173.23	5.7 %	98.30	(1.9 %)
2021	638.82	(5.3 %)	166.72	(3.8 %)	77.26	(21.4 %)
2022	789.62	23.6 %	202.77	21.6 %	101.78	31.7 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-
2014	40.01	-	1.33	-	40.01	1.33
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	40.91	2.2 %	1.36	-	40.91	1.36
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	36.08	(11.8 %)	1.20	-	36.08	1.20
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	51.62	43.1 %	1.72	-	51.62	1.72
Q1 2018	(1.15)	-	(0.04)	-	(1.15)	(0.04)
Q2 2018	12.96	-	0.43	-	12.96	0.43
Q3 2018	16.39	-	0.55	-	16.39	0.55
Q4 2018	36.30	-	1.21	-	36.30	1.21
2018	64.51	25.0 %	2.15	-	64.51	2.15
Q1 2019	11.72	1122.1 %	0.39	-	11.72	0.39
Q2 2019	13.01	0.4 %	0.43	-	13.01	0.43
Q3 2019	14.39	(12.2 %)	0.48	-	14.39	0.48
Q4 2019	36.85	1.5 %	1.23	-	36.85	1.23
2019	75.98	17.8 %	2.53	-	75.98	2.53
Q1 2020	16.93	44.4 %	0.56	-	16.93	0.56
Q2 2020	24.41	87.6 %	0.81	-	24.41	0.81
Q3 2020	22.50	56.3 %	0.75	-	22.50	0.75
Q4 2020	17.44	(52.7 %)	0.58	-	17.44	0.58
2020	81.28	7.0 %	2.71	-	81.28	2.71
Q1 2021	9.30	(45.1 %)	0.31	-	9.30	0.31
Q2 2021	13.53	(44.6 %)	0.45	-	13.53	0.45
Q3 2021	14.83	(34.1 %)	0.49	-	14.83	0.49
Q4 2021	18.83	7.9 %	0.63	-	18.83	0.63
2021	56.48	(30.5 %)	1.88	-	56.48	1.88
Q1 2022	4.60	(50.5 %)	0.15	-	4.60	0.15
Q2 2022	16.85	24.5 %	0.56	-	16.85	0.56
Q3 2022	25.09	69.2 %	0.84	-	25.09	0.84
Q4 2022	49.33	162.0 %	1.64	15.24	34.09	1.14
2022	95.86	69.7 %	3.20	15.24	80.62	2.69
Q1 2023	46.57	911.9 %	1.55	-	46.57	1.55

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	40.01	-	1.33	-	40.01	1.33
2015	40.91	2.2 %	1.36	-	40.91	1.36
2016	36.08	(11.8 %)	1.20	-	36.08	1.20
2017	51.62	43.1 %	1.72	-	51.62	1.72
2018	64.51	25.0 %	2.15	-	64.51	2.15
2019	75.98	17.8 %	2.53	-	75.98	2.53
2020	81.28	7.0 %	2.71	-	81.28	2.71
2021	56.48	(30.5 %)	1.88	-	56.48	1.88
2022	95.86	69.7 %	3.20	15.24	80.62	2.69

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	19.13 %	9.53 %	7.04 %
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	13.51 %	7.61 %	5.71 %
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	15.05 %	8.59 %	5.52 %
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	15.88 %	9.53 %	6.87 %
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	15.08 %	9.77 %	7.28 %
2018	15.08 %	9.77 %	7.28 %
Q1 2019	15.16 %	10.30 %	7.93 %
Q2 2019	16.35 %	10.71 %	8.24 %
Q3 2019	15.95 %	10.36 %	7.91 %
Q4 2019	16.42 %	10.93 %	7.62 %
2019	16.42 %	10.17 %	7.62 %
Q1 2020	16.84 %	11.12 %	8.00 %
Q2 2020	16.74 %	10.95 %	8.45 %
Q3 2020	17.71 %	11.51 %	9.15 %
Q4 2020	-	-	-
2020	25.67 %	14.79 %	12.04 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	26.10 %	12.70 %	8.84 %
2021	26.10 %	12.70 %	8.84 %
Q1 2022	27.09 %	12.50 %	8.60 %
Q2 2022	28.24 %	12.68 %	8.82 %
Q3 2022	28.63 %	13.54 %	10.03 %
Q4 2022	25.68 %	13.51 %	10.21 %
2022	25.68 %	13.51 %	10.21 %
Q1 2023	22.35 %	13.59 %	10.94 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	19.13 %	9.53 %	7.04 %
2015	13.51 %	7.61 %	5.71 %
2016	15.05 %	8.59 %	5.52 %
2017	15.88 %	9.53 %	6.87 %
2018	15.08 %	9.77 %	7.28 %
2019	16.42 %	10.17 %	7.62 %
2020	25.67 %	14.79 %	12.04 %
2021	26.10 %	12.70 %	8.84 %
2022	25.68 %	13.51 %	10.21 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	13.36 %	3.83 %	(0.94 %)
Q2 2018	10.99 %	7.27 %	4.74 %
Q3 2018	16.03 %	10.43 %	7.56 %
Q4 2018	19.17 %	14.40 %	13.25 %
Q1 2019	14.47 %	8.76 %	5.55 %
Q2 2019	15.05 %	8.43 %	5.47 %
Q3 2019	14.40 %	9.03 %	6.26 %
Q4 2019	20.20 %	15.61 %	11.58 %
Q1 2020	16.49 %	9.77 %	7.42 %
Q2 2020	15.14 %	8.52 %	7.64 %
Q3 2020	19.00 %	11.70 %	9.58 %
Q4 2020	-	-	-
Q1 2021	22.59 %	11.03 %	6.48 %
Q2 2021	23.52 %	12.74 %	9.13 %
Q3 2021	24.53 %	12.58 %	8.62 %
Q4 2021	32.68 %	14.16 %	10.74 %
Q1 2022	27.01 %	9.31 %	4.32 %
Q2 2022	28.19 %	13.36 %	9.85 %
Q3 2022	26.32 %	15.42 %	12.62 %
Q4 2022	23.45 %	13.82 %	10.89 %
Q1 2023	17.48 %	12.68 %	10.64 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	30.00	-	-	5.26
Q2 2018	30.00	-	-	5.34
Q3 2018	30.00	-	-	5.91
Q4 2018	30.00	2.15	2.15	6.55
Q1 2019	30.00	2.58	2.58	6.97
Q2 2019	30.00	2.58	2.58	7.37
Q3 2019	30.00	2.51	2.51	7.84
Q4 2019	30.00	2.53	2.53	9.31
Q1 2020	30.00	2.71	2.71	8.54
Q2 2020	30.00	3.09	3.09	9.28
Q3 2020	30.00	3.36	3.36	9.42
Q4 2020	30.00	2.71	2.71	10.82
Q1 2021	30.00	2.45	2.45	10.11
Q2 2021	30.00	2.09	2.09	10.43
Q3 2021	30.00	1.84	1.84	10.24
Q4 2021	30.00	1.88	1.88	11.12
Q1 2022	30.00	1.73	1.73	10.40
Q2 2022	30.00	1.84	1.84	11.03
Q3 2022	30.00	2.18	2.18	10.72
Q4 2022	30.00	3.20	2.69	12.37
Q1 2023	30.00	4.59	4.09	12.72

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	-	-	-	-
2014	30.00	1.33	1.33	4.82
2015	30.00	1.36	1.36	5.34
2016	30.00	1.20	1.20	5.69
2017	30.00	1.72	1.72	5.28
2018	30.00	2.15	2.15	6.55
2019	30.00	2.53	2.53	9.31
2020	30.00	2.71	2.71	10.82
2021	30.00	1.88	1.88	11.12
2022	30.00	3.20	2.69	12.37

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	10.74	10.74	3.76
Q3 2019	10.61	10.61	3.40
Q4 2019	9.35	9.35	2.54
Q1 2020	8.95	8.95	2.84
Q2 2020	9.96	9.96	3.31
Q3 2020	12.97	12.97	4.62
Q4 2020	23.67	23.67	5.93
Q1 2021	40.73	40.73	9.89
Q2 2021	50.58	50.58	10.15
Q3 2021	75.96	75.96	13.62
Q4 2021	67.01	67.01	11.34
Q1 2022	72.90	72.90	12.10
Q2 2022	44.21	44.21	7.36
Q3 2022	43.61	43.61	8.86
Q4 2022	29.17	34.68	7.53
Q1 2023	24.77	27.85	8.95

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	9.35	9.35	2.54
2020	23.67	23.67	5.93
2021	67.01	67.01	11.34
2022	29.17	34.68	7.53

Business Segments (Million)

Compared With The

Period	Data sector	Maintenance and operation sector	Networking Unit	Systems Unit	Information Technology Security Unit	Solutions Unit	Business Services Management Unit
Q1 2018	-	21.13	14.66	20.99	21.58	38.02	5.72
Q2 2018	-	41.28	33.30	58.32	39.38	61.20	39.94
Q3 2018	-	23.20	13.78	67.81	14.43	74.30	23.14
Q4 2018	-	31.83	23.34	78.70	47.58	66.15	26.37
Q1 2019	-	23.76	16.53	34.85	25.08	84.70	26.30
Q2 2019	-	28.70	36.23	42.84	30.47	82.42	17.45
Q3 2019	-	21.16	13.87	104.01	27.03	52.48	11.40
Q4 2019	-	52.95	50.67	66.85	54.81	64.15	28.80
Q1 2020	-	25.08	56.70	49.15	32.38	48.68	16.04
Q2 2020	-	24.13	109.66	56.54	46.60	77.04	5.54
Q3 2020	-	30.00	63.90	45.38	23.41	47.20	24.92
Q1 2021	-	29.23	30.36	50.19	4.99	6.63	22.04
Q2 2021	-	35.01	55.38	30.91	8.62	11.89	6.35
Q3 2021	-	44.30	59.52	34.98	17.49	10.04	5.63
Q4 2021	-	39.31	54.22	12.44	16.78	19.09	33.42
Q1 2022	-	44.08	33.46	10.39	5.11	7.87	5.69
Q2 2022	22.93	59.38	41.75	12.60	12.07	12.96	9.36
Q3 2022	37.59	52.16	57.49	17.05	12.41	15.81	6.29
Q4 2022	80.05	61.29	62.32	53.18	25.26	8.97	22.13
Q1 2023	252.20	52.54	62.27	27.96	13.43	23.37	5.70

Period	Data sector	Maintenance and operation sector	Networking Unit	Systems Unit	Information Technology Security Unit	Solutions Unit	Business Services Management Unit
2014	-	55.67	68.33	66.36	66.48	248.67	63.03
2015	-	72.00	98.96	96.10	83.09	300.25	66.40
2016	-	96.57	72.14	268.07	70.28	53.37	93.59
2017	-	83.34	86.73	70.33	59.77	327.34	123.47
2018	-	117.43	85.07	225.82	122.97	239.68	95.18
2019	-	126.57	117.29	248.56	137.39	283.75	83.95
2020	-	102.71	250.20	127.58	73.06	76.96	44.29
2021	-	147.85	199.47	128.52	47.88	47.65	67.45
2022	140.57	216.87	195.05	93.21	54.86	45.61	43.47

Analysts Estimates (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change‬
Average	29.55	46.57	57.58 %

Estimates vs Actual (Million)

Item	Q1 2023 (e)	Q1 2023 (a)	Change
Al Rajhi Capital	44.00	46.57	5.8 %
U-Capital	15.10	46.57	208.4 %

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MIS Q1 2023 profit spikes to SAR 46.6 mln

Current Quarter Comparison (M)

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Share Price

Al Moammar Information Systems Co. (MIS)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

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MIS Q1 2023 profit spikes to SAR 46.6 mln

Current Quarter Comparison (M)

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Share Price

Al Moammar Information Systems Co. (MIS)

Financial Ratios

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q1 2023

Revenue by Business Segment (Latest) 2023 Q1

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

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Business Segments (Million)