Jahez net profit slumps 50% to SAR 59 mln in 2022
21/03/2023
Argaam Exclusive
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Jahez International Company for Information System Technology reported a net profit of SAR 59 million for 2022, down 50% from SAR 117.1 million a year earlier.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 1,159.57 | 1,602.48 | 38.2 % |
| Gross Income | 245.53 | 359.18 | 46.3 % |
| Operating Income | 119.29 | 140.85 | 18.1 % |
| Net Income | 117.07 | 58.98 | (49.6 %) |
| Average Shares | 192.00 | 209.84 | 9.3 % |
| EPS (Halala) | 60.97 | 28.11 | (53.9 %) |
The drop was driven by the logistics segment reporting a loss of SAR 123.8 million in 2022 compared to a loss of SAR 6.4 million in the previous year despite revenue rising 180.4%.
On the other hand, the profit of the delivery platforms segment increased by 56% to SAR 180.4 million in 2022 from SAR 115.9 million in 2021 on higher gross revenue and an increase in the average number of users.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 673.11 | 862.65 | 28.2 % |
| Gross Income | 151.26 | 190.37 | 25.9 % |
| Operating Income | 87.84 | 80.71 | (8.1 %) |
| Net Income | 88.35 | 5.76 | (93.5 %) |
| Average Shares | 192.00 | 209.84 | 9.3 % |
| EPS (Halala) | 46.01 | 2.74 | (94.0 %) |
Total shareholders’ equity, excluding minority interest, reached SAR 1.00 billion as of Dec. 31, 2022, compared to SAR 187.27 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| 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 %) |
| 2022 | 1,602.48 | 38.2 % | 359.18 | 46.3 % | 140.85 | 18.1 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Halala) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| 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 |
| 2022 | 58.98 | (49.6 %) | 28.11 | (79.53) | 138.51 | 0.66 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 22.65 % | 11.13 % | 10.02 % |
| H2 2022 | 22.41 % | 10.26 % | 8.64 % |
| 2022 | 22.41 % | 10.26 % | 8.64 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Halala) | Adjusted EPS (Halala) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 209.84 | 67.47 | 67.47 | 4.72 |
| H2 2022 | 209.84 | 28.11 | 66.01 | 4.79 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | 67.37 | 67.37 | 9.62 |
| H2 2022 | More than 100 | 52.95 | 7.30 |
Business Segments (Million)
Q4 2022
| 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) |
| 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 |
Share Price
Jahez International Company for Information Systems Technology (JAHEZ)
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