Edarat’s 2022 profit jumps 95% to SAR 12.6 mln
31/01/2023
Argaam Exclusive
AI Summary
Content Summary: 
Loading data...
Please note that this news summary has been generated using artificial intelligence. It is recommended to review the original
sources for complete details and to verify the accuracy of the information.
View other reports
Nomu-listed Edarat Communications and Information Technology Co. (Edarat) reported a net profit of SAR 12.6 million in 2022, up 95% compared to SAR 6.5 million in the previous year, driven by a 58% year-on-year (YoY) increase in revenue.
Financials (M)
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 37.33 | 58.89 | 57.8 % |
| Gross Income | 12.79 | 23.80 | 86.0 % |
| Operating Income | 7.47 | 14.31 | 91.5 % |
| Net Income | 6.48 | 12.60 | 94.5 % |
| Average Shares | 5.04 | 5.04 | - |
| Earnings Per Share before unusual items (Riyals) | 1.29 | 2.50 | 94.5 % |
| EPS (Riyal) | 1.29 | 2.50 | 94.5 % |
Gross profit also jumped 83% YoY.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2021 | H2 2022 | Change |
|---|---|---|---|
| Revenues | 26.50 | 30.35 | 14.5 % |
| Gross Income | 8.95 | 10.15 | 13.4 % |
| Operating Income | 6.50 | 7.11 | 9.3 % |
| Net Income | 5.65 | 6.33 | 12.1 % |
| Average Shares | 5.04 | 5.04 | - |
| Earnings Per Share before unusual items (Riyal) | 1.12 | 1.26 | 12.1 % |
| EPS (Riyal) | 1.12 | 1.26 | 12.1 % |
Total shareholders’ equity, with no minority interest, stood at SAR 21.46 million by the end of 2022, compared to SAR 12.91 million a year earlier.
Total comprehensive income came in at SAR 12 million, up from SAR 6.4 million in 2021. Statutory reserve from retained earnings was raised to 30% of capital.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2022 | 28.54 | 163.5 % | 13.65 | 255.4 % | 7.21 | 643.1 % |
| H2 2022 | 30.35 | 14.5 % | 10.15 | 13.4 % | 7.11 | 9.3 % |
| 2022 | 58.89 | 57.8 % | 23.80 | 86.0 % | 14.31 | 91.5 % |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Riyal) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS(Riyal) |
|---|---|---|---|---|---|---|
| H1 2022 | 6.27 | 653.5 % | 1.24 | - | 6.27 | 1.24 |
| H2 2022 | 6.33 | 12.1 % | 1.26 | - | 6.33 | 1.26 |
| 2022 | 12.60 | 94.5 % | 2.50 | - | 12.60 | 2.50 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2021 | - | - | - |
| H2 2021 | 34.26 % | 22.27 % | 17.36 % |
| 2021 | 34.27 % | 22.27 % | 17.36 % |
| H1 2022 | 41.06 % | 26.68 % | 21.65 % |
| H2 2022 | 40.41 % | 27.77 % | 21.40 % |
| 2022 | 40.41 % | 27.77 % | 21.40 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Riyal) | Earnings Per Share before unusual items (Riyal) | Book Value (BV) |
|---|---|---|---|---|
| H1 2022 | 5.04 | 2.36 | 2.36 | 3.12 |
| H2 2022 | 5.04 | 2.50 | 2.50 | 4.26 |
Multiple Ratios (End of Period Price)
| Period | P/E | Recurring P/E | Price/book |
|---|---|---|---|
| H1 2022 | - | - | - |
| H2 2022 | 12.03 | 12.03 | 7.06 |
Business Segments (Million)
Q2 2022
| Period | Engineering Services for Data Centres | Cloud computing services | Branches revenue |
|---|---|---|---|
| Q2 2022 | 20.66 | 5.78 | 2.10 |
| Current | |
| Market Cap (M Riyal) | 1,008.00 |
| Enterprise Value (EV) (M Riyal) | 997.73 |
| Shares Outstanding ((M)) | 5.04 |
| Book Value (BV) ( Riyal) | 15.14 |
| Par Value ( Riyal) | 10.00 |
| Recurring P/E | 35.59 |
| Price/book | 13.21 |
| EV/adj EBITDA | - |
| EV/Revenues | 7.44 |
Share Price
Edarat Communication and Information Technology Co. (EDARAT)
Follow us on
Comments {{getCommentCount()}}
Be the first to comment
{{Comments.indexOf(comment)+1}}
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.
Comments Analysis: