KnowledgeNet posts SAR 4.9 mln profit in H1 2022

25/01/2023 Argaam Exclusive

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KnowledgeNet Co., which is set to be listed on Nomu-Parallel Market, posted a profit of SAR 4.9 million in H1 2022 against a loss of SAR 1.3 million in the prior-year period.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	20.97	30.32	44.6 %
Gross Income	4.37	9.92	127.1 %
Operating Income	(1.14)	1.87	263.8 %
Net Income	(1.32)	4.87	468.5 %
Average Shares	1.50	3.50	-
EPS (Riyals)	(0.88)	1.39	258.0 %

The turnaround was driven by a 45% rise year-on-year (YoY) in revenue and a 33% increase YoY in gross profit margin.

Sales of equity instruments contributed SAR 1.8 million to the six-month earnings, while divestment of a stake in the subsidiary, Takharuj Information Technology Co., resulted in a gain of SAR 1 million.

However, the general and administrative expenses increased YoY.

Total shareholders' equity, excluding minority interests, reached SAR 46.82 million at the end of June 30, 2022, compared to SAR 17.65 million in the year-earlier period.

The company's cash balance stood at SAR 24.3 million as of June 30, 2022. However, cash from operating activities was -SAR 2.2 million.

KnowledgeNet reported SAR 17.3 million in revenue from strategic projects in the first six months of 2022, compared to SAR 16.1 million a year earlier. Revenue from core business products rose to SAR 13 million from SAR 4.9 million at the end of H1 2022.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2021	H1 2022	Change‬
Revenues	20.97	30.32	44.6 %
Gross Income	4.37	9.92	127.1 %
Operating Income	(1.14)	1.87	263.8 %
Net Income	(1.32)	4.87	468.5 %
Average Shares	1.50	3.50	-
EPS (Riyals)	(0.88)	1.39	258.0 %

Item	H2 2021	H1 2022	Change‬
Revenues	28.04	30.32	8.1 %
Gross Income	10.51	9.92	(5.6 %)
Operating Income	3.69	1.87	(49.4 %)
Net Income	2.90	4.87	68.3 %
Average Shares	3.50	3.50	-
EPS (Riyals)	0.83	1.39	68.3 %

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
H1 2013	-	-	-	-	-	-
H2 2013	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	45.91	-	18.10	-	7.78	-
H1 2021	20.97	-	4.37	-	(1.14)	-
H2 2021	28.04	-	10.51	-	3.69	-
2021	49.02	6.8 %	14.88	(17.8 %)	2.55	(67.2 %)
H1 2022	30.32	44.6 %	9.92	127.1 %	1.87	263.8 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	45.91	-	18.10	-	7.78	-
2021	49.02	6.8 %	14.88	(17.8 %)	2.55	(67.2 %)

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	-	-	-	-	-	-
2013	-	-	-	-	-	-
H1 2014	-	-	-	-	-	-
H2 2014	-	-	-	-	-	-
2014	-	-	-	-	-	-
H1 2015	-	-	-	-	-	-
H2 2015	-	-	-	-	-	-
2015	-	-	-	-	-	-
H1 2016	-	-	-	-	-	-
H2 2016	-	-	-	-	-	-
2016	-	-	-	-	-	-
H1 2017	-	-	-	-	-	-
H2 2017	-	-	-	-	-	-
2017	-	-	-	-	-	-
H1 2018	-	-	-	-	-	-
H2 2018	-	-	-	-	-	-
2018	-	-	-	-	-	-
H1 2019	-	-	-	-	-	-
H2 2019	-	-	-	-	-	-
2019	-	-	-	-	-	-
H1 2020	-	-	-	-	-	-
H2 2020	-	-	-	-	-	-
2020	7.61	-	5.07	-	7.61	5.07
H1 2021	(1.32)	-	(0.88)	-	(1.32)	(0.88)
H2 2021	2.90	-	0.83	-	2.90	0.83
2021	1.57	(79.3 %)	0.45	-	1.57	0.45
H1 2022	4.87	468.5 %	1.39	1.76	3.11	0.89

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2012	-	-	-	-	-	-
2013	-	-	-	-	-	-
2014	-	-	-	-	-	-
2015	-	-	-	-	-	-
2016	-	-	-	-	-	-
2017	-	-	-	-	-	-
2018	-	-	-	-	-	-
2019	-	-	-	-	-	-
2020	7.61	-	5.07	-	7.61	5.07
2021	1.57	(79.3 %)	0.45	-	1.57	0.45

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
H1 2013	-	-	-
H2 2013	-	-	-
2013	-	-	-
H1 2014	-	-	-
H2 2014	-	-	-
2014	-	-	-
H1 2015	-	-	-
H2 2015	-	-	-
2015	-	-	-
H1 2016	-	-	-
H2 2016	-	-	-
2016	-	-	-
H1 2017	-	-	-
H2 2017	-	-	-
2017	-	-	-
H1 2018	-	-	-
H2 2018	-	-	-
2018	-	-	-
H1 2019	-	-	-
H2 2019	-	-	-
2019	-	-	-
H1 2020	-	-	-
H2 2020	-	-	-
2020	39.43 %	20.27 %	16.58 %
H1 2021	-	-	-
H2 2021	30.35 %	10.00 %	3.21 %
2021	30.35 %	10.00 %	3.21 %
H1 2022	35.01 %	13.85 %	10.30 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	39.43 %	20.27 %	16.58 %
2021	30.35 %	10.00 %	3.21 %

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	20.82 %	0.63 %	(6.30 %)
H2 2021	37.48 %	17.01 %	10.33 %
H1 2022	32.72 %	10.92 %	10.27 %

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	1.50	-	-	11.73
H2 2021	3.50	0.45	0.45	12.15
H1 2022	3.50	2.22	1.72	13.54

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	1.50	5.07	5.07	12.55
2021	3.50	0.45	0.45	12.15

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	-	-	-

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-

Business Segments (Million)

Compared With The

Period	consulting services	maintenance and technical support services	sale of programs licenses
Q2 2022	17.23	5.38	7.70

Period	consulting services	maintenance and technical support services	sale of programs licenses
2021	30.38	10.80	7.84

Financial Ratios

	Current
Market Cap (M Riyal)	95.55
Enterprise Value (EV) (M)	82.98
Shares Outstanding ((M))	3.50
Book Value (BV) ( Riyal)	11.29
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	Neg
Price/book	2.42

Knowledge Net Co. (KNOWLEDGENET)

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KnowledgeNet posts SAR 4.9 mln profit in H1 2022

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Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million)

Revenue by Business Segment (Latest) 2022 Q2

Financial Ratios

Share Price

Knowledge Net Co. (KNOWLEDGENET)

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KnowledgeNet posts SAR 4.9 mln profit in H1 2022

View other reports

Financials (M)

Current Half Annual Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million) Q2 2022

Revenue by Business Segment (Latest) 2022 Q2

Financial Ratios

Share Price

Knowledge Net Co. (KNOWLEDGENET)

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Business Segments (Million)