Saudi Networkers posts 14% profit leap to SAR 20.6 mln in H1 2022

Saudi Networkers posts 14% profit leap to SAR 20.6 mln in H1 2022

14/09/2022 Argaam Exclusive

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Saudi Networkers Services Co. (SNS) posted a jump of 14% in H1 2022 net profit after Zakat and tax to SAR 20.6 million, compared to SAR 18 million in the year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 235.31 229.57 (2.4 %)
Gross Income 32.56 32.75 0.6 %
Operating Income 20.18 21.21 5.1 %
Net Income 17.98 20.58 14.5 %
Average Shares 6.00 6.00 -
EPS (Riyals) 3.00 3.43 14.5 %

The higher profit was driven by the reversals of old accrual balances, related to accrued employees cost, which are no longer payable, along with some additional cost savings.  



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 235.31 229.57 (2.4 %)
Gross Income 32.56 32.75 0.6 %
Operating Income 20.18 21.21 5.1 %
Net Income 17.98 20.58 14.5 %
Average Shares 6.00 6.00 -
EPS (Riyals) 3.00 3.43 14.5 %

Shareholders’ equity, after minority interest, came in at SAR 66.804 million as of June 30, 2022, up from SAR 63.392 million a year earlier.   

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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 235.31 - 32.56 - 20.18 -
H2 2021 227.49 - 21.71 - 10.04 -
H1 2022 229.57 (2.4 %) 32.75 0.6 % 21.21 5.1 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) 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 17.98 - 3.00 - 17.98 3.00
H2 2021 10.36 - 1.73 - 10.36 1.73
H1 2022 20.58 14.5 % 3.43 - 20.58 3.43

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 11.73 % 6.72 % 6.12 %
H1 2022 11.92 % 7.03 % 6.77 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) 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 6.00 - - -
H2 2021 6.00 4.72 4.72 9.55
H1 2022 6.00 5.16 5.16 11.13

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 - - -


Financial Ratios
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
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Share Price

Saudi Networkers Services Co.
81.30
3.80 4.90 %

Saudi Networkers Services Co. (NETWORKERS)

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