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	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 %

Item	H2 2022	H1 2023	Change‬
Revenues	862.65	835.62	(3.1 %)
Gross Income	190.37	184.71	(3.0 %)
Operating Income	80.71	42.25	(47.7 %)
Net Income	5.76	62.70	988.7 %
Average Shares	209.84	209.84	-
EPS (Halala)	2.74	29.88	988.7 %

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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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	158.53	-	25.49	-	(4.04)	-
H1 2020	158.68	-	39.67	-	20.33	-
H2 2020	300.63	-	68.86	-	20.12	-
2020	459.31	189.7 %	108.53	325.7 %	40.45	1102.4 %
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 %
2021	1,159.57	152.5 %	245.53	126.2 %	119.29	194.9 %
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 %
H1 2023	835.62	12.9 %	184.71	9.4 %	42.25	(29.8 %)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	158.53	-	25.49	-	(4.04)	-
2020	459.31	189.7 %	108.53	325.7 %	40.45	1102.4 %
2021	1,159.57	152.5 %	245.53	126.2 %	119.29	194.9 %
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 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	(6.42)	-	(22.94)	-	(6.42)	(0.23)
H1 2020	20.05	-	14.32	-	20.05	0.14
H2 2020	19.64	-	14.03	-	19.64	0.14
2020	39.69	717.8 %	28.35	-	39.69	0.28
H1 2021	28.72	43.3 %	14.96	-	28.72	0.15
H2 2021	88.35	349.8 %	46.01	-	88.35	0.46
2021	117.07	195.0 %	60.97	-	117.07	0.61
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
H1 2023	62.70	17.8 %	29.88	-	62.70	0.30

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	(6.42)	-	(22.94)	-	(6.42)	(0.23)
2020	39.69	717.8 %	28.35	-	39.69	0.28
2021	117.07	195.0 %	60.97	-	117.07	0.61
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 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	16.08 %	(1.11 %)	(4.05 %)
H1 2020	-	-	-
H2 2020	23.63 %	-	8.64 %
2020	23.63 %	9.50 %	8.64 %
H1 2021	20.72 %	6.89 %	6.14 %
H2 2021	21.17 %	10.81 %	10.10 %
2021	21.17 %	10.81 %	10.10 %
H1 2022	22.65 %	11.13 %	10.02 %
H2 2022	22.41 %	10.26 %	8.64 %
2022	22.41 %	10.26 %	8.64 %
H1 2023	22.09 %	9.90 %	8.71 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	16.08 %	(1.11 %)	(4.05 %)
2020	23.63 %	9.50 %	8.64 %
2021	21.17 %	10.81 %	10.10 %
2022	22.41 %	10.26 %	8.64 %

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	25.00 %	-	12.63 %
H2 2020	22.90 %	-	6.53 %
H1 2021	19.38 %	7.01 %	5.90 %
H2 2021	22.47 %	13.56 %	13.13 %
H1 2022	22.82 %	8.93 %	7.19 %
H2 2022	22.07 %	11.40 %	9.89 %
H1 2023	22.11 %	8.35 %	7.50 %

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

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	28.00	(22.94)	(22.94)	0.00
2020	140.00	28.35	28.35	0.31
2021	192.00	60.97	60.97	0.98
2022	209.84	28.11	66.01	4.79

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

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	More than 100	52.95	7.30

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)

Period	Delivery Platforms Segment	Logistics Activity	Other Activities	Exclusions
2021	1,158.08	110.68	1.49	(110.68)
2022	1,597.31	310.37	5.17	(310.37)

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

Jahez International Company for Information Systems Technology (JAHEZ)

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

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Financials (M)

Current Half Annual Comparison (M)

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 Q2

Financial Ratios

Share Price

Jahez International Company for Information Systems Technology (JAHEZ)

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

View other reports

Financials (M)

Current Half Annual Comparison (M)

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) Q2 2023

Revenue by Business Segment (Latest) 2023 Q2

Financial Ratios

Share Price

Jahez International Company for Information Systems Technology (JAHEZ)

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Business Segments (Million)