Saudi Networkers makes SAR 16.5 mln profit in H1 2023

Saudi Networkers makes SAR 16.5 mln profit in H1 2023

08/08/2023 Argaam Exclusive

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Saudi Networkers Services Co. (SNS) reported a drop of 20% in H1 2023 net profit to SAR 16.5 million from SAR 20.6 million in the year-ago period, on the one-off reversals of old accrual balances in June 2022.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 229.57 276.46 20.4 %
Gross Income 32.75 32.23 (1.6 %)
Operating Income 21.21 18.74 (11.7 %)
Net Income 20.58 16.55 (19.6 %)
Average Shares 6.00 6.00 -
EPS (Riyals) 3.43 2.76 (19.6 %)


Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 229.57 276.46 20.4 %
Gross Income 32.75 32.23 (1.6 %)
Operating Income 21.21 18.74 (11.7 %)
Net Income 20.58 16.55 (19.6 %)
Average Shares 6.00 6.00 -
EPS (Riyals) 3.43 2.76 (19.6 %)

Total shareholders’ equity, no minority interest, reached SAR 85.20 million as of June 30, 2023, compared to SAR 66.80 million a year earlier.

 

Historical Data

Period

Revenue

Net Profit

EPS

H1 2021

235.30

17.98

3.00

H2 2021

227.48

10.36

1.72

H1 2022

229.57

20.57

3.43

H2 2022

249.06

11.76

1.96

H1 2023

276.46

16.54

2.76

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 %
H2 2022 249.06 9.5 % 30.64 41.1 % 14.57 45.1 %
H1 2023 276.46 20.4 % 32.23 (1.6 %) 18.74 (11.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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
H2 2022 9.52 (8.1 %) 1.59 - 9.52 1.59
H1 2023 16.55 (19.6 %) 2.76 - 16.55 2.76

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
H2 2022 13.24 % 7.63 % 6.29 %
H1 2023 11.96 % 6.50 % 4.96 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
H2 2022 6.00 5.02 5.02 14.59
H1 2023 6.00 4.34 4.34 15.02

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H2 2022 9.97 9.97 3.43
H1 2023 14.32 14.32 4.14


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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