KnowledgeNet turns to SAR 5.3M loss in 2023
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KnowledgeNet Co. reported a net loss of SAR 5.3 million for 2023, versus a net profit of SAR 3.1 million a year earlier.
Financials (M)
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 58.41 | 51.87 | (11.2 %) |
| Gross Income | 19.64 | 17.78 | (9.5 %) |
| Operating Income | 1.34 | (7.90) | (690.8 %) |
| Net Income | 3.10 | (5.26) | (269.8 %) |
| Average Shares | 3.50 | 3.50 | - |
| EPS (Riyals) | 0.89 | (1.50) | (269.8 %) |
Current Half Annual Comparison (M)
| Item | H2 2022 | H2 2023 | Change |
|---|---|---|---|
| Revenues | 28.09 | 26.76 | (4.8 %) |
| Gross Income | 9.72 | 13.18 | 35.5 % |
| Operating Income | (0.53) | (2.60) | (389.0 %) |
| Net Income | (1.77) | (1.23) | 30.6 % |
| Average Shares | 3.50 | 3.50 | - |
| EPS (Riyals) | (0.51) | (0.35) | 30.6 % |
This was due to an increase in operating expenses as a result of the strategic investment in some subsidiaries, which amounted to SAR 4.22 million. These investments are still in the early stages of growth and have not begun generating revenues in 2023.
The company also cited one-off expenses of SAR 935,772 related to its Nomu listing that took place in H1 2023. This is in addition to lower revenue from an affiliate, which pressured the overall 2023 topline.
Total shareholders’ equity, after minority interest, stood at SAR 39.50 million by Dec. 31, 2023, compared to SAR 46.81 million a year ago.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net profit (SAR mln) |
EPS (SAR /share) |
|
H1 2021 |
20.97 |
(1.32) |
(0.53) |
|
H2 2021 |
28.05 |
2.89 |
1.16 |
|
H1 2022 |
30.32 |
4.87 |
1.39 |
|
H2 2022 |
28.10 |
(1.65) |
(0.47) |
|
H1 2023 |
25.11 |
(4.34) |
(1.24) |
|
H2 2023 |
26.76 |
(0.923) |
(0.26) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2023 | 25.11 | (17.2 %) | 4.61 | (53.6 %) | (5.30) | (383.4 %) |
| H2 2023 | 26.76 | (4.8 %) | 13.18 | 35.5 % | (2.60) | (389.0 %) |
| 2023 | 51.87 | (11.2 %) | 17.78 | (9.5 %) | (7.90) | (690.8 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2023 | (4.03) | (182.7 %) | (1.15) | - | (4.03) | (1.15) |
| H2 2023 | (1.23) | 30.6 % | (0.35) | 0.31 | (1.54) | (0.44) |
| 2023 | (5.26) | (269.8 %) | (1.50) | 0.31 | (5.57) | (1.59) |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2023 | 26.94 % | (5.38 %) | (10.91 %) |
| H2 2023 | 34.29 % | (7.02 %) | (10.75 %) |
| 2023 | 34.29 % | (7.02 %) | (10.75 %) |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2023 | 3.50 | (1.66) | (1.66) | 11.73 |
| H2 2023 | 3.50 | (1.50) | (1.59) | 11.29 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2023 | NEG | NEG | 3.62 |
| H2 2023 | NEG | NEG | 3.19 |
Business Segments (Million)
Q2 2023
| Period | consulting services | maintenance and technical support services | sale of programs licenses | Implementation of program licenses |
|---|---|---|---|---|
| Q2 2023 | 13.81 | 5.22 | 2.93 | 3.15 |
| Current | |
| Market Cap (M Riyal) | 83.09 |
| Enterprise Value (EV) (M) | 70.52 |
| Shares Outstanding ((M)) | 3.50 |
| Book Value (BV) ( Riyal) | 11.29 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | Neg |
| Price/book | 2.10 |
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