MIS secures over SAR 3B in new contracts, sets investments at SAR 250M: CEO

Abdullah Al-Ghamdi, CEO of Al Moammar Information Systems Co. (MIS), said that the value of new contracts and awards since the beginning of 2025 surpassed SAR 3 billion, expecting to secure additional projects during the fourth quarter and beyond.

Speaking to Argaam, Al-Ghamdi stated that the company’s backlog reached nearly SAR 9.4 billion. This includes SAR 3.5 billion in signed core business contracts, SAR 750 million in awards pending signature, and SAR 1.5 billion in framework agreements within the information and communications technology (ICT) sector, which are converted into active projects through work orders.

He added that MIS has already begun executing several work orders under these framework agreements and is partnering with the Saudi Data Center Fund (BSF Capital) to expand data center capacity by an additional 112 megawatts. The company expects revenues from data center projects to reach around SAR 2.5 billion, with room for further growth.

Regarding investments, Al-Ghamdi said that the company’s total investments reached approximately SAR 250 million by the end of Q3 2025. These include SAR 198 million in data centers, SAR 24 million in Idarat Co., SAR 3.8 million in xAI, and SAR 12.9 million in Vision Bank.

Commenting on the financial results, he said MIS posted its highest-ever gross profit in Q3 2025 at SAR 83 million, supported by business growth and improved profit margins.

However, the company’s year-to-date profits were impacted by temporary factors, including losses from subsidiaries amounting to SAR 12 million, higher provisions of SAR 10 million, and increased financing costs (FCs) of SAR 23 million.

MIS is implementing multiple initiatives to enhance efficiency and reduce FCs in parallel with the strong growth in new contracts and the expansion of subsidiaries.

He emphasized that the current performance indicators support expectations of strong revenue and profit growth in Q4 2025, as MIS continues improving its financial and operational performance.

Al-Ghamdi noted that MIS continues to expand its operations, backed by client confidence and robust growth in the Saudi economy, particularly in IT, data centers and AI.

The company is actively exploring new investment opportunities to enhance shareholder returns and support its growth strategy.

He pointed to the board’s recent approval to acquire a 15% stake in Eltizam - Car Insurance Platform, as well as plans to establish new subsidiaries - either wholly owned or in partnership with other entities.

Al-Ghamdi stressed that the company’s partnership with HUMAIN represents a strategic collaboration in the field of AI. Hosting HUMAIN’s technologies through MIS and BSF Capital (Sahayeb Datacenters) will strengthen the Kingdom’s position as a leading hub in this vital sector.

He added that MIS plans to focus more on AI-related data center services in the coming period, leveraging the growing local and global demand in collaboration with HUMAIN, Microsoft, and Tadawul Group.

According to Argaam data, MIS profit fell to SAR 91.2 million in the first nine months of 2025, compared to SAR 121.6 million a year ago. Third-quarter profit came in at SAR 25.1 million.