MIS backlog at SAR 3.8B, targets 15% revenue growth: CEO

Abdullah Al-Ghamdi, CEO of Al Moammar Information Systems Co. (MIS) 

Al Moammar Information Systems (MIS) CEO Abdullah Al-Ghamdi said the company’s backlog stands at nearly SAR 3.8 billion, excluding other framework agreements.

These agreements have been signed with Saudi Aramco, Saudi Basic Industries Corp. (SABIC), Saudi Technology and Security Comprehensive Control Co. (Tahakom), and Saudi Data Center Fund 1, as well as leasing contracts with Microsoft, which are expected to support future growth, he told Argaam.

Contract awarded in digital infrastructure, systems solutions, cybersecurity, managed services, and platform and application monitoring exceeded SAR 800 million in Q2 2025, compared to SAR 550 million a year earlier, the CEO said.

The number of contracts signed in the first half of 2025 rose to SAR 1.5 billion from SAR 860 million a year ago, supported by ongoing development that has enhanced client confidence.

Al-Ghamdi said MIS is diversifying operations through new opportunities, expanding professional services, and boosting activities across technology sectors, which will positively impact net income.

The company is developing new products via subsidiaries, including a buy-now-pay-later company and a medical firm. He said that the operating losses of these companies and provisions for the digital bank weighed on H1 profitability.

Lower revenue was linked to weaker data center income as projects neared completion and delays in signing some contracts. However, MIS saw gains in professional services and core ICT operations.

He expects revenue to improve as projects progress and new deals are signed, noting that the impact of planned data center expansion under a deal with the Saudi Data Center Fund 1 to build 112 megawatts will be evident in the coming periods.

The company’s profit declined to SAR 66.1 million in the first half of 2025, compared to SAR 104.8 million a year ago, according to data available with Argaam. The second-quarter profit stood at SAR 32.3 million.