Jahez 9M 2024 net profit up 33% to SAR 122.9M

04/11/2024 Argaam Exclusive

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Jahez International Company for Information System Technology (Jahez) reported a net profit of SAR 122.9 million for the first nine months of 2024, 33% growth from SAR 92.1 million in the year-earlier period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	1,287.26	1,623.16	26.1 %
Gross Income	285.99	374.51	31.0 %
Operating Income	67.66	106.68	57.7 %
Net Income	92.06	122.84	33.4 %
Average Shares	209.84	209.84	-
EPS (Halala)	43.87	58.54	33.4 %

The nine-month revenue reached SAR 1.62 billion in 9M 2024, a 26.1% increase YoY, mainly driven by order volumes, an increase in active users to 4.2 million, improved take rate from 13% in 9M 2023 to 14.6% in 9M 2024, and increased average order value (AOV). Further, optimized customer promotions focused on targeted delivery offers, controlled marketing spending, and reduced delivery costs, enhanced overall profitability.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	451.65	601.27	33.1 %
Gross Income	101.27	157.59	55.6 %
Operating Income	25.42	74.38	192.7 %
Net Income	29.37	80.15	172.9 %
Average Shares	209.84	209.84	-
EPS (Halala)	14.00	38.20	172.9 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	540.96	601.27	11.1 %
Gross Income	121.28	157.59	29.9 %
Operating Income	27.12	74.38	174.2 %
Net Income	30.24	80.15	165.0 %
Average Shares	209.84	209.84	-
EPS (Halala)	14.41	38.20	165.0 %

Q3 2024 net profit stood at SAR 80.2 million, an increase of more than two-fold year-on-year (YoY) from SAR 29.4 million.

Q3 2024 revenue reached SAR 601.3 million, a 33.1% increase from SAR 451.6 million in Q3 2023, as total orders rose 25.2% to a record of SAR 28 million.

In addition, the company saw a 26.3% YoY increase in the active users to reach 4.2 million. The take rate improved from 13.4% in Q3 2023 to 14.6% in Q3 2024.

Further, AOV increased to SAR 61.7 compared to SAR 59.7 in Q3 2023, supported by strategic bundle offerings that enhanced customer value. Other revenues also grew significantly to SAR 79 million.

Q3 profit growth was also driven by optimized customer promotions focused on targeted delivery offers, controlled marketing spending, and reduced delivery costs.

On a sequential basis, net earnings rose from SAR 30.2 million in Q2 2024.

Total shareholders’ equity (after minority equity) stood at SAR 1.17 billion by Sept. 30, 2024, compared to SAR 1.15 billion a year earlier.

Attached Documents

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	158.53	-	25.49	-	(4.04)	-
Q1 2020	64.75	-	13.48	-	3.68	-
Q2 2020	93.93	-	26.19	-	18.04	-
Q3 2020	129.54	-	38.03	-	21.94	-
Q4 2020	171.09	-	30.83	-	(0.89)	-
2020	459.31	189.7 %	108.53	325.7 %	42.77	1159.8 %
Q1 2021	243.29	275.7 %	59.43	340.9 %	27.04	635.1 %
Q2 2021	243.17	158.9 %	34.83	33.0 %	4.41	(75.5 %)
Q3 2021	361.24	178.9 %	98.05	157.8 %	61.18	178.9 %
Q4 2021	311.87	82.3 %	53.21	72.6 %	26.66	3107.7 %
2021	1,159.57	152.5 %	245.53	126.2 %	119.29	178.9 %
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	1,602.48	38.2 %	359.18	46.3 %	140.85	18.1 %
Q1 2023	414.58	-	81.66	-	2.93	-
Q2 2023	421.04	-	103.05	-	39.31	-
Q3 2023	451.65	-	101.27	-	25.42	-
Q4 2023	497.49	-	119.89	-	35.15	-
2023	1,784.76	11.4 %	405.88	13.0 %	102.82	(27.0 %)
Q1 2024	480.93	16.0 %	95.64	17.1 %	5.17	76.3 %
Q2 2024	540.96	28.5 %	121.28	17.7 %	27.12	(31.0 %)
Q3 2024	601.27	33.1 %	157.59	55.6 %	74.38	192.7 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	158.53	-	25.49	-	(4.04)	-
2020	459.31	189.7 %	108.53	325.7 %	42.77	1159.8 %
2021	1,159.57	152.5 %	245.53	126.2 %	119.29	178.9 %
2022	1,602.48	38.2 %	359.18	46.3 %	140.85	18.1 %
2023	1,784.76	11.4 %	405.88	13.0 %	102.82	(27.0 %)

Profit Performance (Million)

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2015	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-
2019	(6.42)	-	(22.94)	-	(6.42)	(0.23)
Q1 2020	3.69	-	2.64	-	3.69	0.03
Q2 2020	17.74	-	12.67	-	17.74	0.13
Q3 2020	21.75	-	15.54	-	21.75	0.16
Q4 2020	(1.17)	-	(0.84)	-	(1.17)	(0.01)
2020	42.01	753.9 %	30.01	-	42.01	0.30
Q1 2021	26.34	613.4 %	18.81	-	26.34	0.19
Q2 2021	2.38	(86.6 %)	1.24	-	2.38	0.01
Q3 2021	61.33	182.0 %	31.94	-	61.33	0.32
Q4 2021	27.02	2402.9 %	14.07	-	27.02	0.14
2021	117.07	178.7 %	60.97	-	117.07	0.61
Q1 2022	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-
Q3 2022	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-
2022	58.98	(49.6 %)	28.11	(79.53)	138.51	0.66
Q1 2023	12.34	-	5.88	-	12.34	0.06
Q2 2023	50.36	-	24.00	-	50.36	0.24
Q3 2023	29.37	-	14.00	-	29.37	0.14
Q4 2023	33.27	-	15.86	-	33.27	0.16
2023	125.34	112.5 %	59.73	-	125.34	0.60
Q1 2024	12.45	0.9 %	5.93	-	12.45	0.06
Q2 2024	30.24	(39.9 %)	14.41	-	30.24	0.14
Q3 2024	80.15	172.9 %	38.20	-	80.15	0.38

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	(6.42)	-	(22.94)	-	(6.42)	(0.23)
2020	42.01	753.9 %	30.01	-	42.01	0.30
2021	117.07	178.7 %	60.97	-	117.07	0.61
2022	58.98	(49.6 %)	28.11	(79.53)	138.51	0.66
2023	125.34	112.5 %	59.73	-	125.34	0.60

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	16.08 %	(1.11 %)	(4.05 %)
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	23.63 %	9.66 %	9.15 %
2020	23.63 %	10.00 %	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 %
2021	21.17 %	10.81 %	10.10 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	22.41 %	10.26 %	8.64 %
Q1 2023	-	-	-
Q2 2023	-	-	-
Q3 2023	-	-	-
Q4 2023	22.74 %	7.13 %	7.02 %
2023	22.74 %	8.67 %	7.02 %
Q1 2024	22.68 %	-	6.78 %
Q2 2024	22.23 %	-	5.34 %
Q3 2024	23.31 %	7.88 %	7.36 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	16.08 %	(1.11 %)	(4.05 %)
2020	23.63 %	10.00 %	9.15 %
2021	21.17 %	10.81 %	10.10 %
2022	22.41 %	10.26 %	8.64 %
2023	22.74 %	8.67 %	7.02 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	27.88 %	-	18.88 %
Q3 2020	29.36 %	-	16.79 %
Q4 2020	18.02 %	0.02 %	(0.69 %)
Q1 2021	24.43 %	11.59 %	10.83 %
Q2 2021	14.32 %	2.42 %	0.98 %
Q3 2021	27.14 %	17.36 %	16.98 %
Q4 2021	17.06 %	9.15 %	8.66 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	19.70 %	-	2.98 %
Q2 2023	24.48 %	-	11.96 %
Q3 2023	22.42 %	7.68 %	6.50 %
Q4 2023	24.10 %	10.12 %	6.69 %
Q1 2024	19.89 %	-	2.59 %
Q2 2024	22.42 %	-	5.59 %
Q3 2024	26.21 %	14.06 %	13.33 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
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	-	-	0.02
Q2 2020	140.00	-	-	-
Q3 2020	140.00	-	-	0.30
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	0.51
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	209.84	-	-	-
Q2 2023	209.84	-	-	5.13
Q3 2023	209.84	-	-	5.29
Q4 2023	209.84	59.73	59.73	5.49
Q1 2024	209.84	59.78	59.78	-
Q2 2024	209.84	50.20	50.20	5.41
Q3 2024	209.84	74.40	74.40	5.58

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	28.00	(22.94)	(22.94)	0.00
2020	140.00	30.01	30.01	0.31
2021	192.00	60.97	60.97	0.98
2022	209.84	28.11	66.01	4.79
2023	209.84	59.73	59.73	5.49

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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	-	-	6.14
Q3 2023	-	-	4.25
Q4 2023	44.28	44.28	4.82
Q1 2024	56.87	56.87	-
Q2 2024	55.48	55.48	5.14
Q3 2024	32.74	32.74	4.37

Period	P/E	Adjusted P/E	Price/book
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	More than 100	52.95	7.30
2023	44.28	44.28	4.82

Business Segments (Million)

Compared With The

Period	Delivery Platforms Segment	Logistics Activity	Other Activities	Exclusions
Q3 2023	447.09	105.62	4.03	(105.09)
Q4 2023	492.24	110.30	5.44	(110.48)
Q3 2024	580.45	116.06	18.50	(113.74)

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)
2023	1,765.54	404.13	14.62	(399.53)

Financial Ratios

	Current
Market Cap (M Riyal)	6,358.15
Enterprise Value (EV) (M)	5,350.70
Shares Outstanding ((M))	209.84
EPS (Halala) (TTM)	74.40
Book Value (BV) ( Riyal)	5.58
Par Value ( Halala)	50.00
Adjusted P/E (Last12)	40.73
P/E (TTM)	40.73
Price/book	5.43
Return on Average Assets (%) (TTM)	-
Return on Average Equity (%) (TTM)	13.7

Jahez International Company for Information System Technology (JAHEZ)

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Jahez 9M 2024 net profit up 33% to SAR 122.9M

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Financials (M)

Current Quarter 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) 2024 Q3

Financial Ratios

Share Price

Jahez International Company for Information System Technology (JAHEZ)

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Jahez 9M 2024 net profit up 33% to SAR 122.9M

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Financials (M)

Current Quarter 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) Q3 2024

Revenue by Business Segment (Latest) 2024 Q3

Financial Ratios

Share Price

Jahez International Company for Information System Technology (JAHEZ)

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Business Segments (Million)