Saudi Networkers profit leaps 14% to SAR 32.3 mln in 2022
27/03/2023
Argaam Exclusive
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Saudi Networkers Services Co. (SNS) reported a 14% jump in 2022 net profit to SAR 32.3 million, compared to SAR 28.4 million in 2021.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 462.79 | 478.63 | 3.4 % |
| Gross Income | 54.27 | 63.39 | 16.8 % |
| Operating Income | 30.22 | 35.78 | 18.4 % |
| Net Income | 28.34 | 30.10 | 6.2 % |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 4.72 | 5.02 | 6.2 % |
The profit growth was spurred by higher revenue and additional cost savings.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 227.49 | 249.06 | 9.5 % |
| Gross Income | 21.71 | 30.64 | 41.1 % |
| Operating Income | 10.04 | 14.57 | 45.1 % |
| Net Income | 10.36 | 9.52 | (8.1 %) |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 1.73 | 1.59 | (8.1 %) |
Shareholders’ equity, after minority interest, rose to SAR 82.6 million as of Dec. 31, 2022, from SAR 57.3 million a year earlier.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 229.57 | (2.4 %) | 32.75 | 0.6 % | 21.21 | 5.1 % |
| H2 2022 | 249.06 | 9.5 % | 30.64 | 41.1 % | 14.57 | 45.1 % |
| 2022 | 478.63 | 3.4 % | 63.39 | 16.8 % | 35.78 | 18.4 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2022 | 20.58 | 14.5 % | 3.43 | - | 20.58 | 3.43 |
| H2 2022 | 9.52 | (8.1 %) | 1.59 | - | 9.52 | 1.59 |
| 2022 | 30.10 | 6.2 % | 5.02 | - | 30.10 | 5.02 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2022 | 11.92 % | 7.03 % | 6.77 % |
| H2 2022 | 13.24 % | 7.63 % | 6.29 % |
| 2022 | 13.24 % | 7.63 % | 6.29 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 6.00 | 5.16 | 5.16 | 11.13 |
| H2 2022 | 6.00 | 5.02 | 5.02 | 14.59 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | 9.97 | 9.97 | 3.43 |
| Current | |
| Market Cap (M Riyal) | 487.80 |
| Enterprise Value (EV) (M) | 477.62 |
| Shares Outstanding ((M)) | 6.00 |
| Book Value (BV) ( Riyal) | 16.70 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | 13.34 |
| Price/book | 4.87 |
Share Price
Saudi Networkers Services Co. (NETWORKERS)
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