AICTEC posts 46% rise in 2022 profit to SAR 7.7 mln

23/03/2023 Argaam Exclusive

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Advance International Company for Communication and Information Technology (AICTEC) reported a 46% rise in 2022 net profit to SAR 7.7 million, from SAR 5.3 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	30.11	41.76	38.7 %
Gross Income	18.90	18.32	(3.1 %)
Operating Income	6.45	7.35	13.9 %
Net Income	5.25	7.66	46.0 %
Average Shares	64.00	64.00	-
EPS (Halala)	8.20	11.97	46.0 %

The profit growth was attributed to higher revenues from project services related to control and entry systems, security gates, metal detection, bags, sales of surveillance cameras, licenses of systems and programs developed by the company.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	17.34	20.72	19.5 %
Gross Income	8.54	7.51	(12.0 %)
Operating Income	1.86	2.65	42.6 %
Net Income	0.98	2.21	126.0 %
Average Shares	64.00	64.00	-
EPS (Halala)	1.53	3.46	126.0 %

Item	H1 2022	H2 2022	Change‬
Revenues	21.05	20.72	(1.6 %)
Gross Income	10.81	7.51	(30.5 %)
Operating Income	4.69	2.65	(43.4 %)
Net Income	5.45	2.21	(59.4 %)
Average Shares	64.00	64.00	-
EPS (Halala)	8.51	3.46	(59.4 %)

Shareholders’ equity, no minority interest, rose to SAR 34.25 million as of Dec. 31, 2022, up from SAR 26.71 million a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
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	16.48	-	7.66	-	3.30	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	30.37	84.3 %	11.06	44.4 %	7.03	112.9 %
H1 2020	11.05	-	6.24	-	2.25	-
H2 2020	21.78	-	12.14	-	7.47	-
2020	32.83	8.1 %	18.38	66.1 %	9.73	38.4 %
H1 2021	12.77	15.6 %	10.35	65.9 %	4.59	103.6 %
H2 2021	17.34	(20.4 %)	8.54	(29.6 %)	1.86	(75.1 %)
2021	30.11	(8.3 %)	18.90	2.8 %	6.45	(33.7 %)
H1 2022	21.05	64.8 %	10.81	4.4 %	4.69	2.3 %
H2 2022	20.72	19.5 %	7.51	(12.0 %)	2.65	42.6 %
2022	41.76	38.7 %	18.32	(3.1 %)	7.35	13.9 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	16.48	-	7.66	-	3.30	-
2019	30.37	84.3 %	11.06	44.4 %	7.03	112.9 %
2020	32.83	8.1 %	18.38	66.1 %	9.73	38.4 %
2021	30.11	(8.3 %)	18.90	2.8 %	6.45	(33.7 %)
2022	41.76	38.7 %	18.32	(3.1 %)	7.35	13.9 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
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	3.41	-	5.33	-	3.41	0.05
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	5.89	72.5 %	9.20	-	5.89	0.09
H1 2020	1.55	-	2.42	-	1.55	0.02
H2 2020	7.43	-	11.61	-	7.43	0.12
2020	8.98	52.5 %	14.03	-	8.98	0.14
H1 2021	4.27	175.9 %	6.67	-	4.27	0.07
H2 2021	0.98	(86.8 %)	1.53	-	0.98	0.02
2021	5.25	(41.6 %)	8.20	-	5.25	0.08
H1 2022	5.45	27.6 %	8.51	-	5.45	0.09
H2 2022	2.21	126.0 %	3.46	-	2.21	0.03
2022	7.66	46.0 %	11.97	-	7.66	0.12

Period	Net Income	Change	EPS(Halala)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	3.41	-	5.33	-	3.41	0.05
2019	5.89	72.5 %	9.20	-	5.89	0.09
2020	8.98	52.5 %	14.03	-	8.98	0.14
2021	5.25	(41.6 %)	8.20	-	5.25	0.08
2022	7.66	46.0 %	11.97	-	7.66	0.12

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2013	-	-	-
H2 2013	-	-	-
2013	-	-	-
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	46.48 %	21.43 %	20.71 %
H1 2019	-	-	-
H2 2019	-	-	-
2019	36.43 %	26.98 %	19.39 %
H1 2020	-	-	-
H2 2020	55.98 %	33.03 %	27.34 %
2020	55.97 %	33.03 %	27.34 %
H1 2021	65.09 %	38.23 %	33.85 %
H2 2021	62.76 %	25.30 %	17.43 %
2021	62.76 %	25.30 %	17.43 %
H1 2022	50.41 %	20.08 %	16.74 %
H2 2022	43.86 %	20.95 %	18.34 %
2022	43.86 %	20.95 %	18.34 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	46.48 %	21.43 %	20.71 %
2019	36.43 %	26.98 %	19.39 %
2020	55.97 %	33.03 %	27.34 %
2021	62.76 %	25.30 %	17.43 %
2022	43.86 %	20.95 %	18.34 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2013	-	-	-
H2 2013	-	-	-
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	56.47 %	25.57 %	14.00 %
H2 2020	55.73 %	36.82 %	34.12 %
H1 2021	81.06 %	40.64 %	33.41 %
H2 2021	49.27 %	13.99 %	5.65 %
H1 2022	51.34 %	25.09 %	25.88 %
H2 2022	36.26 %	16.74 %	10.69 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
H1 2013	-	-	-	-
H2 2013	-	-	-	-
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	64.00	-	-	0.22
H2 2020	64.00	14.03	14.03	0.33
H1 2021	64.00	18.28	18.28	0.40
H2 2021	64.00	8.20	8.20	0.42
H1 2022	64.00	10.04	10.04	0.50
H2 2022	64.00	11.97	11.97	0.54

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	64.00	5.33	5.33	0.10
2019	64.00	9.20	9.20	0.19
2020	64.00	14.03	14.03	0.33
2021	64.00	8.20	8.20	0.42
2022	64.00	11.97	11.97	0.54

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
H1 2013	-	-	-
H2 2013	-	-	-
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	39.02	39.02	7.80
H2 2022	19.91	19.91	4.45

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	19.91	19.91	4.45

Business Segments (Million)

Compared With The

Period	Projects	Wholesale	technical support	Other
Q2 2022	16.47	4.57	-	-
Q4 2022	17.17	3.55	-	-

Period	Projects	Wholesale	technical support	Other
2019	10.23	19.87	0.27	-
2020	20.88	9.35	0.63	1.98
2021	17.69	11.86	0.04	0.52
2022	33.64	8.12	-	-

Financial Ratios

	Current
Market Cap (M Riyal)	251.52
Enterprise Value (EV) (M)	248.09
Shares Outstanding ((M))	64.00
Book Value (BV) ( Riyal)	0.58
Par Value ( Halala)	50.00
Adjusted P/E (Last12)	More than 100
Price/book	6.74

Advance International Company for Communication and Information Technology (AICTEC)

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AICTEC posts 46% rise in 2022 profit to SAR 7.7 mln

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)

Revenue by Business Segment (Latest) 2022 Q4

Financial Ratios

Share Price

Advance International Company for Communication and Information Technology (AICTEC)

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AICTEC posts 46% rise in 2022 profit to SAR 7.7 mln

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) Q4 2022

Revenue by Business Segment (Latest) 2022 Q4

Financial Ratios

Share Price

Advance International Company for Communication and Information Technology (AICTEC)

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Business Segments (Million)