Financial Results : AICTEC net profit falls to SAR 5.2 mln in 2021

AICTEC net profit falls to SAR 5.2 mln in 2021

14/04/2022 Argaam Exclusive

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Advance International Company for Communication and Information Technology’s (AICTEC) net profit after Zakat and tax fell 42% to SAR 5.2 million in 2021 from SAR 9 million in the year-earlier period.



Financials (M)

Item 2020 2021 Change‬
Revenues 32.83 30.11 (8.3 %)
Gross Income 18.38 18.90 2.8 %
Operating Income 9.73 6.45 (33.7 %)
Net Income 8.98 5.25 (41.6 %)
Average Shares 64.00 64.00 -
Earnings Per Share before unusual items (Halala) 14.03 8.20 (41.6 %)
EPS (Halala) 14.03 8.20 (41.6 %)

The decline was due to higher operating fees and general and administrative expenses, as well as a rise in the value of external purchases.



Current Half Annual Comparison (M)

Compared With The
Item H2 2020 H2 2021 Change‬
Revenues 21.78 17.34 (20.4 %)
Gross Income 12.14 8.54 (29.6 %)
Operating Income 7.47 1.86 (75.1 %)
Net Income 7.43 0.98 (86.8 %)
Average Shares 64.00 64.00 -
Earnings Per Share before unusual items (Halala) 11.61 1.53 (86.8 %)
EPS (Halala) 11.61 1.53 (86.8 %)

Total shareholders’ equity, excluding minority interest, rose 25.7% year-on-year (YoY) to SAR 26.71 million.

 

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Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 11.05 - 6.24 - 2.25 -
H2 2020 21.78 - 12.14 - 7.47 -
H1 2021 12.77 15.6 % 10.35 65.9 % 4.59 103.6 %
H2 2021 17.34 (20.4 %) 8.54 (29.6 %) 1.86 (75.1 %)
2021 30.11 (8.3 %) 18.90 2.8 % 6.45 (33.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Halala) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Halala)
H1 2012 - - - - - -
H2 2012 - - - - - -
H1 2013 - - - - - -
H2 2013 - - - - - -
H1 2014 - - - - - -
H2 2014 - - - - - -
H1 2015 - - - - - -
H2 2015 - - - - - -
H1 2016 - - - - - -
H2 2016 - - - - - -
H1 2017 - - - - - -
H2 2017 - - - - - -
H1 2018 - - - - - -
H2 2018 - - - - - -
H1 2019 - - - - - -
H2 2019 - - - - - -
H1 2020 1.55 - 2.42 - 1.55 2.42
H2 2020 7.43 - 11.61 - 7.43 11.61
H1 2021 4.27 175.9 % 6.67 - 4.27 6.67
H2 2021 0.98 (86.8 %) 1.53 - 0.98 1.53
2021 5.25 (41.6 %) 8.20 - 5.25 8.20

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 55.98 % 33.03 % 27.34 %
2020 55.97 % 33.03 % 27.34 %
H1 2021 65.09 % 38.23 % 33.85 %
H2 2021 62.76 % 25.30 % 17.43 %
2021 62.76 % 25.30 % 17.43 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Halala) Earnings Per Share before unusual items (Halala) Book Value (BV)
H1 2012 - - - -
H2 2012 - - - -
H1 2013 - - - -
H2 2013 - - - -
H1 2014 - - - -
H2 2014 - - - -
H1 2015 - - - -
H2 2015 - - - -
H1 2016 - - - -
H2 2016 - - - -
H1 2017 - - - -
H2 2017 - - - -
H1 2018 - - - -
H2 2018 - - - -
H1 2019 - - - -
H2 2019 - - - -
H1 2020 64.00 - - 0.22
H2 2020 64.00 14.03 14.03 0.33
H1 2021 64.00 18.28 18.28 0.40
H2 2021 64.00 8.20 8.20 0.42

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E Price/book
H1 2012 - - -
H2 2012 - - -
H1 2013 - - -
H2 2013 - - -
H1 2014 - - -
H2 2014 - - -
H1 2015 - - -
H2 2015 - - -
H1 2016 - - -
H2 2016 - - -
H1 2017 - - -
H2 2017 - - -
H1 2018 - - -
H2 2018 - - -
H1 2019 - - -
H2 2019 - - -
H1 2020 - - -
H2 2020 - - -
H1 2021 - - -
H2 2021 - - -

Business Segments (Million)

Compared With The
Period Projects Wholesale technical support Other


Financial Ratios
Current
Market Cap (M Riyal) 137.60
Enterprise Value (EV) (M Riyal) 142.46
Shares Outstanding ((M)) 64.00
Book Value (BV) ( Riyal) 0.56
Par Value ( Halala) 50.00
Recurring P/E Neg
Price/book 3.84
EV/adj EBITDA -
EV/Revenues 4.15
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Share Price

Advance International Company for Communication and Information Technology
2.15
(0.15) (6.52 %)

Advance International Company for Communication and Information Technology (AICTEC)

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