Al Moammar’s net profit jumps 39% in 9M 2019
31/10/2019
Argaam Exclusive
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Al Moammar Information Systems Co. reported a net profit after zakat and tax of SAR 39.13 million for the first nine months of 2019, an increase of 38.7 percent year-on-year (YoY), driven by higher revenue from contracts and lower selling and marketing expenses.
Financials (M)
| Item | 9m 2018 | 9m 2019 | Change |
|---|---|---|---|
| Revenues | 612.18 | 679.28 | 11.0 % |
| Gross Income | 81.11 | 99.53 | 22.7 % |
| Operating Income | 46.46 | 58.75 | 26.5 % |
| Net Income | 28.21 | 39.13 | 38.7 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.94 | 1.30 | 38.7 % |
The company’s net profit for Q3 2019 declined 12.2 percent YoY to SAR 14.39 million, due to higher operating revenue, increased gross profit and lower selling and marketing expenses.
On a sequential basis, Q3 2019 net profit rose 10.6 percent.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2018 | Q3 2019 | Change |
|---|---|---|---|
| Revenues | 216.66 | 229.94 | 6.1 % |
| Gross Income | 34.74 | 33.12 | (4.7 %) |
| Operating Income | 22.32 | 20.74 | (7.1 %) |
| Net Income | 16.39 | 14.39 | (12.2 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.55 | 0.48 | (12.2 %) |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2019 | 211.22 | 73.0 % | 30.57 | 87.4 % | 18.26 | 311.3 % |
| Q2 2019 | 238.12 | (12.9 %) | 35.84 | 19.3 % | 19.75 | 0.3 % |
| Q3 2019 | 229.94 | 6.1 % | 33.12 | (4.7 %) | 20.74 | (7.1 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2019 | 11.72 | 1122.1 % | 0.39 | - | 11.72 | 0.39 |
| Q2 2019 | 13.01 | 0.4 % | 0.43 | - | 13.01 | 0.43 |
| Q3 2019 | 14.39 | (12.2 %) | 0.48 | - | 14.39 | 0.48 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2019 | 15.16 % | 10.30 % | 7.93 % |
| Q2 2019 | 16.35 % | 10.71 % | 8.24 % |
| Q3 2019 | 15.95 % | 10.36 % | 7.91 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2019 | 30.00 | 2.58 | 2.58 | 6.97 |
| Q2 2019 | 30.00 | 2.58 | 2.58 | 7.37 |
| Q3 2019 | 30.00 | 2.51 | 2.51 | 7.84 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2019 | - | - | - |
| Q2 2019 | 10.74 | 10.74 | 3.76 |
| Q3 2019 | 10.61 | 10.61 | 3.40 |
Business Segments (Million)
Q3 2019
| Period | Maintenance and operation sector | Networking Unit | Systems Unit | Information Technology Security Unit | Solutions Unit | Business Services Management Unit |
|---|---|---|---|---|---|---|
| Q1 2019 | 23.76 | 16.53 | 34.85 | 25.08 | 84.70 | 26.30 |
| Q2 2019 | 28.70 | 36.23 | 42.84 | 30.47 | 82.42 | 17.45 |
| Q3 2019 | 21.16 | 13.87 | 104.01 | 27.03 | 52.48 | 11.40 |
| Current | |
| Market Cap (M Riyal) | 4,950.00 |
| Enterprise Value (EV) (M) | 5,708.21 |
| Shares Outstanding ((M)) | 30.00 |
| Book Value (BV) ( Riyal) | 13.91 |
| Par Value ( Riyal) | 10.00 |
| Adjusted P/E (Last12) | More than 100 |
| Price/book | 11.86 |
| Return on Average Assets (%) (TTM) | 4.7 |
| Return on Average Equity (%) (TTM) | 29.6 |
Share Price
Al Moammar Information Systems Co. (MIS)
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