Naseej Tech posts 73% profit fall to SAR 2.1 mln in H1 2023

Naseej Tech posts 73% profit fall to SAR 2.1 mln in H1 2023

17/08/2023 Argaam Exclusive

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Naseej for Technology Co. (Naseej Tech) reported a 73% slump in H1 2023 net profit to SAR 2.1 million from SAR 7.6 million in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 94.85 90.87 (4.2 %)
Gross Income 29.17 23.54 (19.3 %)
Operating Income 9.91 2.66 (73.2 %)
Net Income 7.61 2.09 (72.6 %)
Average Shares 5.00 5.00 -
EPS (Riyals) 1.52 0.42 (72.6 %)

The company cited a 4.2% decline year-on-year (YoY) in revenue, due to a delay in some projects out of the company’s control. Additionally, an increase in selling and marketing expenses weighed on the operating profit, which in turn led to a decrease in net income.



Shareholders’ equity, after minority interest, reached SAR 118.17 million by the end of the six-month period, compared to SAR 101.23 million a year earlier.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

93.37

9.87

1.97

H2 2021

101.05

10.84

2.17

H1 2022

94.85

7.61

1.52

H2 2022

120.22

14.24

2.85

H1 2023

90.87

2.1

0.42

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 - - - - - - -

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 - - -


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 - - - -

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 - - -

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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