Arab Sea turns profitable in 2019

Arab Sea turns profitable in 2019

17/03/2020 Argaam Exclusive

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Arab Sea Information Systems Co. reported a net profit after Zakat and tax of SAR 24.2 million for the fiscal year of 2019, versus net losses of SAR 20.34 million in year-earlier period,  the company said in a bourse statement.

 

These earnings were driven by the reevaluation of an impairment in the intangible assets, writing back a sum of SAR 18.3 million.

 

Q4 net earnings stood at SAR 20.5 million, versus net losses of SAR 23.3 million in year-earlier period.



Financials (M)

Item 2018 2019 Change‬
Revenues 40.88 38.69 (5.4 %)
Gross Income 24.90 22.41 (10.0 %)
Operating Income 10.14 5.83 (42.5 %)
Net Income (20.34) 24.15 218.7 %
Average Shares 100.00 100.00 -
EPS (Riyals) (0.20) 0.24 218.7 %


Current Half Annual Comparison (M)

Compared With The
Item H2 2018 H2 2019 Change‬
Revenues 11.23 13.44 19.7 %
Gross Income 8.77 9.48 8.0 %
Operating Income 5.58 2.76 (50.6 %)
Net Income (23.38) 20.53 187.8 %
Average Shares 100.00 100.00 -
EPS (Riyals) (0.23) 0.21 187.8 %


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2010 - - - - - -
H2 2010 - - - - - -
H1 2011 - - - - - -
H2 2011 - - - - - -
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 13.97 - 7.92 - 3.06 -
H1 2016 11.31 - 3.46 - (0.45) -
H2 2016 14.97 7.2 % 5.53 (30.2 %) 1.14 (62.7 %)
H1 2017 11.63 2.9 % 4.02 16.2 % 0.88 295.7 %
H2 2017 16.54 10.5 % 6.61 19.6 % 3.75 228.2 %
H1 2018 9.90 (14.8 %) 4.88 21.4 % 1.73 97.8 %
H2 2018 11.23 (32.1 %) 8.77 32.7 % 5.58 48.9 %
H1 2019 8.62 (12.9 %) 5.85 19.9 % 2.79 60.9 %
H2 2019 13.44 19.7 % 9.48 8.0 % 2.76 (50.6 %)
2019 38.69 (5.4 %) 22.41 (10.0 %) 5.83 (42.5 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
H1 2010 - - - - - -
H2 2010 - - - - - -
H1 2011 - - - - - -
H2 2011 - - - - - -
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 2.77 - 0.03 - 2.77 0.03
H1 2016 (0.37) - 0.00 - (0.37) 0.00
H2 2016 0.72 (74.2 %) 0.01 - 0.72 0.01
H1 2017 0.79 313.2 % 0.01 - 0.79 0.01
H2 2017 (28.60) (4094.0 %) (0.29) (31.40) 2.80 0.03
H1 2018 1.01 28.4 % 0.01 (0.76) 1.77 0.02
H2 2018 (23.38) 18.2 % (0.23) (28.36) 4.98 0.05
H1 2019 3.04 200.2 % 0.03 - 3.04 0.03
H2 2019 20.53 187.8 % 0.21 18.33 2.20 0.02
2019 24.15 218.7 % 0.24 18.33 5.82 0.06

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2010 - - -
H2 2010 - - -
H1 2011 - - -
H2 2011 - - -
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 39.57 % 30.62 % 10.19 %
H1 2017 42.51 % 35.91 % 14.76 %
H2 2017 34.78 % 30.93 % 6.90 %
H1 2018 42.81 % 37.50 % 11.28 %
H2 2018 60.89 % 51.54 % 24.98 %
H1 2019 63.49 % 55.11 % 26.87 %
H2 2019 57.82 % 44.83 % 15.04 %
2019 57.93 % 44.85 % 15.04 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
H1 2010 - - - -
H2 2010 - - - -
H1 2011 - - - -
H2 2011 - - - -
H1 2012 - - - -
H2 2012 - - - -
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 100.00 - - 1.83
H1 2016 100.00 - - 1.82
H2 2016 100.00 0.05 0.05 1.88
H1 2017 100.00 0.08 0.08 1.90
H2 2017 100.00 (0.28) 0.03 1.48
H1 2018 100.00 (0.28) 0.05 1.58
H2 2018 100.00 (0.20) 0.10 1.28
H1 2019 100.00 (0.19) 0.10 1.31
H2 2019 100.00 0.24 0.06 1.52

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
H1 2010 - - -
H2 2010 - - -
H1 2011 - - -
H2 2011 - - -
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 18.20 18.20 0.75
H2 2017 NEG 35.44 0.81
H1 2018 NEG 22.16 0.70
H2 2018 NEG 12.04 0.96
H1 2019 NEG 11.90 0.94
H2 2019 9.10 37.77 1.45

Business Segments (Million)

Compared With The
Period Licenses in use of software and hardware Maintenance services and technical support


Financial Ratios
Current
Market Cap (M Riyal) 708.00
Enterprise Value (EV) (M) 704.33
Shares Outstanding ((M)) 100.00
Book Value (BV) ( Riyal) 1.27
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
Price/book 5.57
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Share Price

Arab Sea Information System Co.
7.08
0.05 0.71 %

Arab Sea Information System Co. (ARAB SEA)

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