Naseej Tech H1 2022 net profit down 23% to SAR 7.6 mln

17/08/2022 Argaam Exclusive

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Naseej for Technology Co. (NASEEJ TECH)

Naseej for Technology Co. (Naseej Tech) reported a 23% fall in H1 2022 net profit after Zakat and tax to SAR 7.6 million, from SAR 9.9 million in the same period a year earlier.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	93.37	94.85	1.6 %
Gross Income	30.16	29.17	(3.3 %)
Operating Income	13.19	9.91	(24.9 %)
Net Income	9.87	7.61	(22.9 %)
Average Shares	5.00	5.00	-
EPS (Riyals)	1.97	1.52	(22.9 %)

The company was hit by higher general and administrative expenses (G&A) on increased professional fees related to the company’s direct listing. It also recorded an increase in salary expenses in the six-month period.

Total shareholders’ equity, after minority interest, rose to SAR 101.232 million by the end of the six-month period, from SAR 93.839 million a year earlier.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2013	-	-	-	-	-	-	-
Q2 2013	-	-	-	-	-	-	-
Q3 2013	-	-	-	-	-	-	-
Q4 2013	-	-	-	-	-	-	-
2013	-	-	-	-	-	-	-
Q1 2014	-	-	-	-	-	-	-
Q2 2014	-	-	-	-	-	-	-
Q3 2014	-	-	-	-	-	-	-
Q4 2014	-	-	-	-	-	-	-
2014	-	-	-	-	-	-	-
Q1 2015	-	-	-	-	-	-	-
Q2 2015	-	-	-	-	-	-	-
Q3 2015	-	-	-	-	-	-	-
Q4 2015	-	-	-	-	-	-	-
2015	-	-	-	-	-	-	-
Q1 2016	-	-	-	-	-	-	-
Q2 2016	-	-	-	-	-	-	-
Q3 2016	-	-	-	-	-	-	-
Q4 2016	-	-	-	-	-	-	-
2016	-	-	-	-	-	-	-
Q1 2017	-	-	-	-	-	-	-
Q2 2017	-	-	-	-	-	-	-
Q3 2017	-	-	-	-	-	-	-
Q4 2017	-	-	-	-	-	-	-
2017	-	-	-	-	-	-	-
Q1 2018	-	-	-	-	-	-	-
Q2 2018	-	-	-	-	-	-	-
Q3 2018	-	-	-	-	-	-	-
Q4 2018	-	-	-	-	-	-	-
2018	-	-	-	-	-	-	-
Q1 2019	-	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-	-
2019	177.84	-	59.64	-	3.47	-	0.69
Q1 2020	-	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-	-
Q4 2020	56.82	-	19.65	-	(0.36)	-	(0.07)
2020	205.49	15.6 %	69.66	16.8 %	9.50	173.8 %	1.90
Q1 2021	-	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-	-
Q3 2021	34.70	-	14.43	-	5.61	-	1.12
Q4 2021	66.35	16.8 %	16.23	(17.4 %)	5.24	1574.9 %	1.05
2021	194.42	(5.4 %)	60.83	(12.7 %)	20.71	117.9 %	4.14
Q1 2022	-	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-	-

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2012	-	-	-	-	-	-	-
2013	-	-	-	-	-	-	-
2014	-	-	-	-	-	-	-
2015	-	-	-	-	-	-	-
2016	-	-	-	-	-	-	-
2017	-	-	-	-	-	-	-
2018	-	-	-	-	-	-	-
2019	177.84	-	59.64	-	3.47	-	0.69
2020	205.49	15.6 %	69.66	16.8 %	9.50	173.8 %	1.90
2021	194.42	(5.4 %)	60.83	(12.7 %)	20.71	117.9 %	4.14

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	33.54 %	4.13 %	1.95 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	34.58 %	8.16 %	(0.62 %)
2020	33.90 %	8.67 %	4.62 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	37.24 %	12.11 %	5.74 %
Q4 2021	31.87 %	11.00 %	6.64 %
2021	31.29 %	13.69 %	10.65 %
Q1 2022	-	-	-
Q2 2022	-	-	-

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	33.54 %	4.13 %	1.95 %
2020	33.90 %	8.67 %	4.62 %
2021	31.29 %	13.69 %	10.65 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	34.58 %	8.16 %	(0.62 %)
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	41.59 %	18.58 %	16.16 %
Q4 2021	24.46 %	9.48 %	7.89 %
Q1 2022	-	-	-
Q2 2022	-	-	-

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2013	-	-	-	-
Q2 2013	-	-	-	-
Q3 2013	-	-	-	-
Q4 2013	-	-	-	-
Q1 2014	-	-	-	-
Q2 2014	-	-	-	-
Q3 2014	-	-	-	-
Q4 2014	-	-	-	-
Q1 2015	-	-	-	-
Q2 2015	-	-	-	-
Q3 2015	-	-	-	-
Q4 2015	-	-	-	-
Q1 2016	-	-	-	-
Q2 2016	-	-	-	-
Q3 2016	-	-	-	-
Q4 2016	-	-	-	-
Q1 2017	-	-	-	-
Q2 2017	-	-	-	-
Q3 2017	-	-	-	-
Q4 2017	-	-	-	-
Q1 2018	-	-	-	-
Q2 2018	-	-	-	-
Q3 2018	-	-	-	-
Q4 2018	-	-	-	-
Q1 2019	-	-	-	-
Q2 2019	-	-	-	-
Q3 2019	-	-	-	-
Q4 2019	-	-	-	-
Q1 2020	-	-	-	-
Q2 2020	-	-	-	-
Q3 2020	-	-	-	-
Q4 2020	5.00	(0.07)	(0.07)	14.77
Q1 2021	-	-	-	-
Q2 2021	-	-	-	-
Q3 2021	5.00	1.05	1.05	17.79
Q4 2021	5.00	2.10	2.10	18.77
Q1 2022	-	-	-	-
Q2 2022	-	-	-	-

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2012	-	-	-	-
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	5.00	0.69	0.69	12.70
2020	5.00	1.90	1.90	14.77
2021	5.00	4.14	4.14	18.77

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2013	-	-	-
Q2 2013	-	-	-
Q3 2013	-	-	-
Q4 2013	-	-	-
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	-	-	-
Q3 2015	-	-	-
Q4 2015	-	-	-
Q1 2016	-	-	-
Q2 2016	-	-	-
Q3 2016	-	-	-
Q4 2016	-	-	-
Q1 2017	-	-	-
Q2 2017	-	-	-
Q3 2017	-	-	-
Q4 2017	-	-	-
Q1 2018	-	-	-
Q2 2018	-	-	-
Q3 2018	-	-	-
Q4 2018	-	-	-
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	-	-	-
Q2 2022	-	-	-

Period	P/E	Adjusted P/E	Price/book
2012	-	-	-
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-

Business Segments (Million)

Compared With The

Period	Knowledge Asset Management Solutions	Education Solutions	Electronic Solutions
Q4 2020	37.24	5.42	14.16
Q3 2021	16.29	6.96	11.45
Q4 2021	40.66	15.16	10.53

Period	Knowledge Asset Management Solutions	Education Solutions	Electronic Solutions
2019	114.61	22.04	41.19
2020	117.28	28.09	60.12
2021	109.48	38.41	46.53

Financial Ratios

	Current
Market Cap (M Riyal)	285.00
Enterprise Value (EV) (M)	283.66
Shares Outstanding ((M))	5.00
Book Value (BV) ( Riyal)	25.81
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	21.86
Price/book	2.21

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Naseej Tech H1 2022 net profit down 23% to SAR 7.6 mln

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Share Price

Naseej for Technology Co. (NASEEJ TECH)

Financials (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million)

Revenue by Business Segment (Latest) 2022 Q2

Financial Ratios

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Naseej Tech H1 2022 net profit down 23% to SAR 7.6 mln

View other reports

Share Price

Naseej for Technology Co. (NASEEJ TECH)

Financials (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million) 2022

Revenue by Business Segment (Latest) 2022 Q2

Financial Ratios

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Business Segments (Million)