Naseej Tech 2023 profit drops 40% to SAR 13.1M

Naseej Tech 2023 profit drops 40% to SAR 13.1M

31/03/2024 Argaam Exclusive

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Naseej for Technology Co. (Naseej Tech) reported a 40% fall in its 2023 net profit to SAR 13.1 million, from SAR 21.9 million in 2022.



Financials (M)

Item 2022 2023 Change‬
Revenues 215.07 215.23 0.1 %
Gross Income 64.91 64.86 (0.1 %)
Operating Income 25.27 17.04 (32.6 %)
Net Income 21.85 13.04 (40.3 %)
Average Shares 5.00 5.00 -
EPS (Riyals) 4.37 2.61 (40.3 %)

The company was hit by higher general and administrative expenses that reached SAR 6.7 million, an increase in expected credit losses to SAR 5.4 million, and higher marketing expenses to SAR 1.47 million. Zakat charges also rose to SAR 0.58 million.



Total shareholders’ equity, after minority interest, rose to SAR 129.02 million by the end of 2023, from SAR 116.14 million a year earlier.

View more financial results

 


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
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 56.82 - 19.65 - (0.36) - (0.07)
Q1 2021 - - - - - - -
Q2 2021 - - - - - - -
Q3 2021 34.70 - 14.43 - 5.61 - 1.12
Q4 2021 66.35 16.8 % 16.23 (17.4 %) 5.24 1574.9 % 1.05
Q1 2022 - - - - - - -
Q2 2022 - - - - - - -
Q3 2022 - - - - - - -
Q4 2022 - - - - - - -
Q1 2023 - - - - - - -
Q2 2023 - - - - - - -
Q3 2023 - - - - - - -
Q4 2023 - - - - - - -
2023 215.23 0.1 % 64.86 (0.1 %) 13.04 (40.3 %) 2.61

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 - - -
Q2 2020 - - -
Q3 2020 - - -
Q4 2020 34.58 % 8.16 % (0.62 %)
Q1 2021 - - -
Q2 2021 - - -
Q3 2021 37.24 % 12.11 % 5.74 %
Q4 2021 31.87 % 11.00 % 6.64 %
Q1 2022 - - -
Q2 2022 - - -
Q3 2022 - - -
Q4 2022 - - -
Q1 2023 - - -
Q2 2023 - - -
Q3 2023 - - -
Q4 2023 - - -
2023 30.13 % 8.55 % 6.06 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) 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 - - - -
Q2 2020 - - - -
Q3 2020 - - - -
Q4 2020 5.00 (0.07) (0.07) 14.77
Q1 2021 - - - -
Q2 2021 - - - -
Q3 2021 5.00 1.05 1.05 17.79
Q4 2021 5.00 2.10 2.10 18.77
Q1 2022 - - - -
Q2 2022 - - - -
Q3 2022 - - - -
Q4 2022 - - - -
Q1 2023 - - - -
Q2 2023 - - - -
Q3 2023 - - - -
Q4 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 - - -
Q3 2023 - - -
Q4 2023 - - -

Business Segments (Million)

Compared With The
Period Knowledge Asset Management Solutions Education Solutions Electronic Solutions
Q4 2020 37.24 5.42 14.16
Q3 2021 16.29 6.96 11.45
Q4 2021 40.66 15.16 10.53


Financial Ratios
Current
Market Cap (M Riyal) 275.00
Enterprise Value (EV) (M) 273.66
Shares Outstanding ((M)) 5.00
Book Value (BV) ( Riyal) 25.81
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 21.09
Price/book 2.13
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Share Price

Naseej for Technology Co.
55.00
(1.00) (1.79 %)

Naseej for Technology Co. (NASEEJ TECH)

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