Intelligent Oud 2022 earnings rise to SAR 3.7 mln

Intelligent Oud 2022 earnings rise to SAR 3.7 mln

03/08/2023 Argaam Exclusive

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Intelligent Oud Co. (IOud), which is set to be listed on Nomu-Parallel Market, posted earnings of SAR 3.7 million for 2022, compared to SAR 771,000 a year earlier.  



Financials (M)

Item 2021 2022 Change‬
Revenues 13.11 23.09 76.2 %
Gross Income 8.41 14.45 71.8 %
Operating Income 0.96 5.05 423.6 %
Net Income 0.77 3.72 382.8 %
Average Shares 1.56 1.56 -
Earnings Per Share before unusual items 0.49 2.39 382.8 %
EPS (Riyals) 0.49 2.39 382.8 %

The profit growth was driven by a 76% leap year-on-year (YoY) in revenue to SAR 23 million, as well as higher operating profit margin from 11% to 22%.

 

This was despite a rise of over 100% in the cost of financing short-and long-term loans, as well as a 61% jump in the provision of Zakat and taxes.

 

General, administrative, and marketing expenses were up 16% YoY, while other revenues declined.



Current Half Annual Comparison (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Average Shares 1.56 1.56 -

Total shareholders' equity, no minority interest, reached SAR 22.02 million at the end of the period, compared to SAR 18.02 million a year before.

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