MIS expects 2025 revenue, profit to grow by 15–20%: Vice Chairman

Ibrahim Al Moammar, Vice Chairman of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) is forecast to witness growth ranging between 15-20% in its business, both in terms of revenue and net profit, during 2025, said Vice Chairman Ibrahim Al Moammar.

These projections are based on current conditions and market activity, in addition to the initiatives led by the Kingdom in technology and artificial intelligence, infrastructure, and data centers, he added in an interview with Argaam.

The company plays an active role among tech service providers, especially in the field of data centers, said Al Moammar.

He expressed hope that MIS would capture a share of the available opportunities amid broad-based growth across the Kingdom’s sectors, including digital technology, as it seeks to leverage this momentum for further expansion.

The Vice Chairman noted that since the beginning of the year, MIS has secured contracts valued between SAR 1.2 and 1.3 billion, up from around SAR 800 million in the same period last year, reflecting positive results and a year-on-year growth of more than 50% in signed contracts.

The total value of MIS projects backlog is about SAR 4.2 billion. In addition, the value of signed data center leasing contracts exceeds SAR 2.5 billion, with framework agreements exceeding SAR 1.5 billion.

MIS is awaiting work orders for these contracts, some of which are already underway, bringing the total value of projects under execution to around SAR 7–7.5 billion—the highest in the company’s history, the Vice Chairman said.

MIS posted its highest-ever quarterly gross profit of around SAR 82 million in Q1 2025, thanks to the contracts secured in previous periods. Meanwhile, the decline in net profit quarter-on-quarter was due to non-recurring factors, according to Al-Moammar.

He also clarified that there were three main reasons for the drop in Q1 net profit QoQ, including an investment gain of about SAR 58 million from the sale of 10% of the company’s stake in Edarat during Q1 2024.

The first quarter also saw increased losses related to subsidiaries due to additional expenses and provisions, driven by the growth of their businesses, especially MISPay. This is in addition to the development of the company’s tech, financial, and accounting infrastructure, as well as the other provisions related to employee expenses, bonuses, and community initiatives the company is committed to, such as its participation in the Ehsan platform, he added.

As for MISPay, the company is exploring ways to support its growth through funding rounds and off-balance sheet financing options to reduce burdens and costs on the parent company, said the Vice Chairman, adding that no decision has been made yet in this regard.

Al Moammar also highlighted that, while these factors impacted the results, they are non-recurring. He expects the company will post strong performance in 2025.