Knowledge Tower’s net profit slips 2% to SAR 3.6 mln in FY 2021/22
28/09/2022
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Knowledge Tower Trading Co. reported a net profit of SAR 3.6 million for the fiscal year ended on March 31, 2022, a 2% decline from SAR 3.7 million in the year-earlier period.
Financials (M)
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 13.80 | 20.40 | 47.8 % |
| Gross Income | 5.59 | 7.62 | 36.3 % |
| Operating Income | 3.84 | 4.15 | 8.2 % |
| Net Income | 3.65 | 3.58 | (2.0 %) |
| Average Shares | 17.50 | 17.50 | - |
| Earnings Per Share before unusual items (Riyals) | 0.21 | 0.20 | (2.0 %) |
| EPS (Riyal) | 0.21 | 0.20 | (2.0 %) |
This profit drop was attributed to a 56% increase year-on-year (YoY) in cost of sales, along with a more than 100% surge YoY in operating expenses. The company also cited higher cost of finance and Zakat provisions.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2020 | H2 2021 | Change |
|---|---|---|---|
| Revenues | 1.59 | 1.40 | (12.1 %) |
| Gross Income | 1.48 | 0.75 | (49.0 %) |
| Operating Income | 0.69 | (0.58) | (184.2 %) |
| Net Income | 0.60 | (1.06) | (277.5 %) |
| Average Shares | 17.50 | 17.50 | - |
| Earnings Per Share before unusual items (Riyal) | 0.03 | (0.06) | (277.5 %) |
| EPS (Riyal) | 0.03 | (0.06) | (277.5 %) |
Shareholders’ equity, excluding minority interest, reached SAR 21.07 million by the end of FY ended on March 31, 2022, compared to SAR 4.89 million a year.
The company generated SAR 17.68 million in revenue from books, SAR 1.84 million from robotics and steam programs, and SAR 877,000 in revenue from other programs for the same FY.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2021 | 19.00 | 55.6 % | 6.87 | 66.9 % | 4.73 | 50.1 % |
| H2 2021 | 1.40 | (12.1 %) | 0.75 | (49.0 %) | (0.58) | (184.2 %) |
| 2021 | 20.40 | 47.8 % | 7.62 | 36.3 % | 4.15 | 8.2 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| H1 2021 | 4.64 | 51.9 % | 0.27 | - | 4.64 | 0.27 |
| H2 2021 | (1.06) | (277.5 %) | (0.06) | - | (1.06) | (0.06) |
| 2021 | 3.58 | (2.0 %) | 0.20 | - | 3.58 | 0.20 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2020 | - | - | - |
| H2 2020 | 40.51 % | 29.15 % | 26.45 % |
| 2020 | 40.51 % | 29.15 % | 26.45 % |
| H1 2021 | 40.52 % | 27.44 % | 25.42 % |
| H2 2021 | 37.35 % | 22.00 % | 17.55 % |
| 2021 | 37.35 % | 22.00 % | 17.55 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2021 | 17.50 | 0.30 | 0.30 | 1.27 |
| H2 2021 | 17.50 | 0.20 | 0.20 | 1.20 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| H1 2021 | - | - | - |
| H2 2021 | - | - | - |
Business Segments (Million)
2021
| Period | Books and Publications | Books and Publications through Websites | allowed discount |
|---|
| Current | |
| Market Cap (M Riyal) | 218.75 |
| Enterprise Value (EV) (M Riyal) | 223.32 |
| Shares Outstanding ((M)) | 17.50 |
| Book Value (BV) ( Riyal) | 1.44 |
| Par Value ( Riyal) | 1.00 |
| Recurring P/E | More than 100 |
| Price/book | 8.70 |
| EV/adj EBITDA | 64.32 |
| EV/Revenues | 7.73 |
Share Price
Knowledge Tower Trading Co. (KNOWLEDGE TOWER)
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