Al Moammar net profit surges 63% to SAR 63.8 mln in 9M 2020
22/10/2020
Argaam Exclusive
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Al Moammar Information Systems Co. (MIS) reported an estimated net profit after Zakat and tax of SAR 63.8 million for the first nine months of 2020, an increase of 63% year-on-year (YoY), driven by growth in overall sales revenue and gross profit contribution.
Financials (M)
| Item | 9m 2019 | 9m 2020 | Change |
|---|---|---|---|
| Revenues | 679.28 | 782.36 | 15.2 % |
| Gross Income | 99.53 | 130.95 | 31.6 % |
| Operating Income | 58.75 | 75.87 | 29.1 % |
| Net Income | 39.13 | 63.84 | 63.1 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 1.30 | 2.13 | 63.1 % |
The company’s net profit for Q3 2020 climbed 56% YoY to SAR 22.5 million, due to higher revenue from contracts and improved segment gross margins. However, selling and marketing expenses, as well as general and administration, and finance costs increased.
On a sequential basis, Q3 2020 net profit fell 7.8%.
Compared With The
Current Quarter Comparison (M)
| Item | Q3 2019 | Q3 2020 | Change |
|---|---|---|---|
| Revenues | 229.94 | 234.81 | 2.1 % |
| Gross Income | 33.12 | 44.63 | 34.8 % |
| Operating Income | 20.74 | 27.08 | 30.6 % |
| Net Income | 14.39 | 22.50 | 56.3 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.48 | 0.75 | 56.3 % |
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| Q1 2020 | 228.04 | 8.0 % | 37.61 | 23.0 % | 21.92 | 20.1 % |
| Q2 2020 | 319.51 | 34.2 % | 48.37 | 34.9 % | 26.87 | 36.0 % |
| Q3 2020 | 234.81 | 2.1 % | 44.63 | 34.8 % | 27.08 | 30.6 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| Q1 2020 | 16.93 | 44.4 % | 0.56 | - | 16.93 | 0.56 |
| Q2 2020 | 24.41 | 87.6 % | 0.81 | - | 24.41 | 0.81 |
| Q3 2020 | 22.50 | 56.3 % | 0.75 | - | 22.50 | 0.75 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| Q1 2020 | 16.84 % | 11.12 % | 8.00 % |
| Q2 2020 | 16.74 % | 10.95 % | 8.45 % |
| Q3 2020 | 17.71 % | 11.51 % | 9.15 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Adjusted EPS (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| Q1 2020 | 30.00 | 2.71 | 2.71 | 8.54 |
| Q2 2020 | 30.00 | 3.09 | 3.09 | 9.28 |
| Q3 2020 | 30.00 | 3.36 | 3.36 | 9.42 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| Q1 2020 | 8.95 | 8.95 | 2.84 |
| Q2 2020 | 9.96 | 9.96 | 3.31 |
| Q3 2020 | 12.97 | 12.97 | 4.62 |
Business Segments (Million)
Q3 2020
| Period | Maintenance and operation sector | Networking Unit | Systems Unit | Information Technology Security Unit | Solutions Unit | Business Services Management Unit |
|---|---|---|---|---|---|---|
| Q1 2020 | 25.08 | 56.70 | 49.15 | 32.38 | 48.68 | 16.04 |
| Q2 2020 | 24.13 | 109.66 | 56.54 | 46.60 | 77.04 | 5.54 |
| Q3 2020 | 30.00 | 63.90 | 45.38 | 23.41 | 47.20 | 24.92 |
| Current | |
| Market Cap (M Riyal) | 5,118.00 |
| Enterprise Value (EV) (M) | 5,876.21 |
| 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 | 12.26 |
| 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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