Alqemam reports H1 2024 profit at SAR 4.6M

Alqemam reports H1 2024 profit at SAR 4.6M

22/08/2024 Argaam Exclusive

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Alqemam for Computer Systems Co. reported a net profit of SAR 4.6 million in H1 2024, compared to SAR 1.4 million in the year-earlier period.



Financials (M)

Item 6m 2023 6m 2024 Change‬
Revenues 16.09 16.48 2.4 %
Gross Income 10.03 8.62 (14.1 %)
Operating Income 2.27 5.57 145.4 %
Net Income 1.41 4.59 225.1 %
Average Shares 3.00 3.00 -
EPS (Riyals) 0.47 1.53 225.1 %


Current Half Annual Comparison (M)

Compared With The
Item H1 2023 H1 2024 Change‬
Revenues 16.09 16.48 2.4 %
Gross Income 10.03 8.62 (14.1 %)
Operating Income 2.27 5.57 145.4 %
Net Income 1.41 4.59 225.1 %
Average Shares 3.00 3.00 -
EPS (Riyals) 0.47 1.53 225.1 %

This was attributed to revenue growth of 2.40% year-on-year (YoY). Also, expected credit losses dropped by 80% YoY in the same period.

Meanwhile, gross profit fell 14% YoY in H1 2024.

 

Total shareholders’ equity, no minority interest, amounted to SAR 75.3 million by June 30, 2024, compared to SAR 53.4 million in the prior-year period.

 

Development of Interim Results

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR/Share)

H1 2022

7.30

0.75

0.25

H2 2022

20.87

13.17

4.39

H1 2023

16.09

1.41

0.47

H2 2023

35.79

17.47

5.82

H1 2024

16.48

4.59

1.53
 

View More Financial Results

 


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 7.30 - 3.03 - 1.26 -
H2 2022 20.87 - 14.17 - 14.03 -
H1 2023 16.09 120.4 % 10.03 231.2 % 2.27 79.7 %
H2 2023 35.80 71.5 % 23.67 67.0 % 18.98 35.3 %
H1 2024 16.48 2.4 % 8.62 (14.1 %) 5.57 145.4 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
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 0.75 - 0.25 - 0.75 0.25
H2 2022 13.17 - 4.39 - 13.17 4.39
H1 2023 1.41 88.9 % 0.47 - 1.41 0.47
H2 2023 17.47 32.6 % 5.82 - 17.47 5.82
H1 2024 4.59 225.1 % 1.53 - 4.59 1.53

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 61.06 % 57.85 % 49.42 %
H1 2023 65.48 % 47.37 % 39.46 %
H2 2023 64.95 % 43.45 % 36.39 %
H1 2024 61.76 % 49.89 % 42.20 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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 3.00 - - -
H2 2022 3.00 4.64 4.64 17.30
H1 2023 3.00 4.86 4.86 17.81
H2 2023 3.00 6.29 6.29 23.59
H1 2024 3.00 7.35 7.35 25.08

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H1 2023 18.10 18.10 4.94
H2 2023 14.76 14.76 3.94
H1 2024 10.93 10.93 3.21

Business Segments (Million)

Compared With The
Period Maintenance and technical support Supplies Other
Q2 2022 6.21 1.10 -
Q4 2022 14.92 5.95 -
Q2 2023 14.32 1.77 -
Q4 2023 33.37 2.42 -
Q2 2024 13.18 3.30 -


Financial Ratios
Current
Market Cap (M Riyal) 276.00
Enterprise Value (EV) (M) 277.10
Shares Outstanding ((M)) 3.00
Book Value (BV) ( Riyal) 23.59
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 14.62
Price/book 3.90
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Share Price

Alqemam for Computer Systems Co.
92.00
(3.00) (3.16 %)

Alqemam for Computer Systems Co. (ALQEMAM)

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