Saudi Azm net profit down 15% to SAR 8 mln in H1 2021/22

Saudi Azm net profit down 15% to SAR 8 mln in H1 2021/22

11/05/2022 Argaam Exclusive

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Saudi Azm for Communication and Information Technology Co. reported a net profit after Zakat and tax of SAR 8 million for the first half ended Dec. 31, 2021, a 15% decline from SAR 9.4 million in the year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 69.44 73.25 5.5 %
Gross Income 14.21 15.69 10.4 %
Operating Income 10.03 8.75 (12.8 %)
Net Income 9.40 8.00 (15.0 %)
Average Shares 60.00 60.00 -
EPS (Halala) 15.67 13.33 (15.0 %)

The profit decline is attributed to higher general and administrative expenses, since the company increased its technical and sales capabilities by establishing new business units to meet the expected demand for its services in the coming period. 

 

Meanwhile, the advisory and professional expenses increased due to the company’s listing on Nomu- Parallel Market. 



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 69.44 73.25 5.5 %
Gross Income 14.21 15.69 10.4 %
Operating Income 10.03 8.75 (12.8 %)
Net Income 9.40 8.00 (15.0 %)
Average Shares 60.00 60.00 -
EPS (Halala) 15.67 13.33 (15.0 %)
Total shareholders’ equity, excluding minority interest, rose 27.3% to SAR 41.44 million in H1 2021/22, compared to SAR 32.55 million in the year-ago period.
 

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 69.44 - 14.21 - 10.03 -
H2 2021 65.70 - 15.02 - 6.42 -
H1 2022 73.25 5.5 % 15.69 10.4 % 8.75 (12.8 %)


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 - - - - - -
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 9.40 - 15.67 - 9.40 0.16
H2 2021 6.13 - 10.22 - 6.13 0.10
H1 2022 8.00 (15.0 %) 13.33 - 8.00 0.13

Profitability

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 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 21.63 % 13.24 % 11.50 %
H1 2022 22.10 % 11.96 % 10.17 %


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 - - - -
H2 2020 - - - -
H1 2021 60.00 - - -
H2 2021 60.00 25.89 25.89 0.54
H1 2022 60.00 23.55 23.55 0.69

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 33.97 33.97 11.58

Business Segments (Million)

Compared With The
Period Corporate services Third-party platforms Advisory Proprietary Technologies
Q2 2020 47.02 5.89 12.15 4.37
Q2 2021 47.02 5.89 12.15 4.37
Q4 2021 50.18 9.55 4.26 1.72
Q2 2022 41.37 3.41 22.58 5.89


Financial Ratios
Current
Market Cap (M Riyal) 1,812.00
Enterprise Value (EV) (M) 1,768.49
Shares Outstanding ((M)) 60.00
Book Value (BV) ( Riyal) 1.14
Par Value ( Halala) 50.00
Adjusted P/E (Last12) More than 100
Price/book 26.48
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Share Price

Saudi Azm for Communication and Information Technology Co.
30.20
0.00 0.00 %

Saudi Azm for Communication and Information Technology Co. (AZM)

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