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

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

03/09/2023 Argaam Exclusive

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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 203.37 205.48 1.0 %
EPS (Halala) 26.17 30.51 16.6 %

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.



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

 



Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Halala)
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 - - - - - - -
Q3 2019 - - - - - - -
Q4 2019 - - - - - - -
Q1 2020 64.75 - 13.48 - 3.69 - 2.64
Q2 2020 93.93 - 26.19 - 17.74 - 12.67
Q3 2020 129.54 - 38.03 - 21.75 - 15.54
Q4 2020 171.09 - 30.83 - (1.17) - (0.84)
Q1 2021 243.29 275.7 % 59.43 340.9 % 26.34 613.4 % 18.81
Q2 2021 243.17 158.9 % 34.83 33.0 % 2.38 (86.6 %) 1.24
Q3 2021 361.24 178.9 % 98.05 157.8 % 61.33 182.0 % 31.94
Q4 2021 311.87 82.3 % 53.21 72.6 % 27.02 2403.2 % 14.07
Q1 2022 - - - - - - -
Q2 2022 - - - - - - -
Q3 2022 - - - - - - -
Q4 2022 - - - - - - -
Q1 2023 - - - - - - -
Q2 2023 - - - - - - -

Profitability

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 - - -
Q2 2018 - - -
Q3 2018 - - -
Q4 2018 - - -
Q1 2019 - - -
Q2 2019 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 20.82 % 6.74 % 5.70 %
Q2 2020 25.00 % - 13.51 %
Q3 2020 26.96 % - 14.98 %
Q4 2020 23.63 % 9.66 % 9.15 %
Q1 2021 24.22 % 10.69 % 10.14 %
Q2 2021 20.72 % 7.12 % 6.26 %
Q3 2021 21.90 % 9.50 % 8.72 %
Q4 2021 21.17 % 10.81 % 10.10 %
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 - - -


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Adjusted EPS (Halala) 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 - - - -
Q2 2018 - - - -
Q3 2018 - - - -
Q4 2018 - - - -
Q1 2019 - - - -
Q2 2019 - - - -
Q3 2019 - - - -
Q4 2019 - - - -
Q1 2020 140.00 2.64 2.64 -
Q2 2020 140.00 15.31 15.31 -
Q3 2020 140.00 30.84 30.84 -
Q4 2020 140.00 30.01 30.01 0.31
Q1 2021 140.00 46.18 46.18 0.50
Q2 2021 192.00 25.68 25.68 -
Q3 2021 192.00 46.29 46.29 0.83
Q4 2021 192.00 60.97 60.97 0.98
Q1 2022 - - - -
Q2 2022 - - - -
Q3 2022 - - - -
Q4 2022 - - - -
Q1 2023 - - - -
Q2 2023 - - - -

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 - - -
Q3 2019 - - -
Q4 2019 - - -
Q1 2020 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 - - -
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 - - -
Q4 2021 - - -
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 - - -

Business Segments (Million)

Compared With The
Period Delivery Platforms Segment Logistics Activity Other Activities Exclusions

Current
Market Cap (M Riyal) 5,592.24
Enterprise Value (EV) (M) 4,371.49
Shares Outstanding ((M)) 209.84
Book Value (BV) ( Riyal) 5.49
Par Value ( Halala) 50.00
Adjusted P/E (Last12) 44.62
Price/book 4.86

Jahez International Company for Information Systems Technology (JAHEZ)


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