Financial Results : KnowledgeNet earns SAR 25.9M in 2024, SAR 26.5M in H2 on stake sale profits

KnowledgeNet earns SAR 25.9M in 2024, SAR 26.5M in H2 on stake sale profits

01/05/2025 Argaam Exclusive

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KnowledgeNet Co. posted a net profit after minority interest of SAR 25.9 million in 2024, against a net loss of SAR 5.3 million a year before.
 
Earnings per share reached SAR 7.2 in 2024, against a loss per share of SAR 1.5 a year earlier.


Financials (M)

Item 2023 2024 Change‬
Revenues 49.89 58.69 17.6 %
Gross Income 17.82 25.14 41.1 %
Operating Income (4.80) 4.33 190.0 %
Net Income (5.26) 25.94 593.0 %
Average Shares 3.50 3.50 -
Earnings Per Share before unusual items (Riyals) (1.59) (1.12) 29.6 %
EPS (Riyal) (1.50) 7.41 593.0 %

The company recorded a non-recurring net profit before minority interest of SAR 36.86 million in 2024 after impairment. The company sold stakes in affiliates as part of a reinvestment plan in return for receiving investment units in the Saudi Technology Fund.

 

KnowledgeNet reported 18% year-on-year (YoY) in the annual operating revenue driven by improved performance and increased demand for the company’s products. Additionally, the company opened a new market and expanded in the countries, where it operates.

 

In H2 2024, net profit reached SAR 26.5 million against a net loss of SAR 1.2 million in H2 2023.
In the first half of 2024, KnowledgeNet incurred a net loss of SAR 540,000.


Current Half Annual Comparison (M)

Compared With The
Item H2 2023 H2 2024 Change‬
Revenues 24.78 29.77 20.1 %
Gross Income 13.21 14.99 13.5 %
Operating Income 0.49 6.34 1188.7 %
Net Income (1.23) 26.48 2251.5 %
Average Shares 3.50 3.50 -
Earnings Per Share before unusual items (Riyal) (0.44) (0.97) (119.1 %)
EPS (Riyal) (0.35) 7.57 2251.5 %
Total shareholders’ equity, after minority interest, rose to SAR 64.69 million as of Dec. 31, 2024, from SAR 39.50 million a year earlier.

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Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS(Riyal)
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 (1.32) - (0.88) - (1.32) (0.88)
H2 2021 2.90 - 0.83 - 2.90 0.83
H1 2022 4.87 468.5 % 1.39 1.76 3.11 0.89
H2 2022 (1.77) (161.2 %) (0.51) - (1.77) (0.51)
H1 2023 (4.03) (182.7 %) (1.15) - (4.03) (1.15)
H2 2023 (1.23) 30.6 % (0.35) 0.31 (1.54) (0.44)
H1 2024 (0.54) 86.5 % (0.16) - (0.54) (0.16)
H2 2024 26.48 2251.5 % 7.57 29.86 (3.38) (0.97)
2024 25.94 593.0 % 7.41 29.86 (3.92) (1.12)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
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 20.97 - 4.37 - (1.14) -
H2 2021 28.04 - 10.51 - 3.69 -
H1 2022 30.32 44.6 % 9.92 127.1 % 1.87 263.8 %
H2 2022 28.09 0.2 % 9.72 (7.5 %) (0.53) (114.4 %)
H1 2023 25.11 (17.2 %) 4.61 (53.6 %) (5.30) (383.4 %)
H2 2023 24.78 (11.8 %) 13.21 35.8 % 0.49 192.4 %
H1 2024 28.93 15.2 % 10.15 120.2 % (2.01) 62.1 %
H2 2024 29.77 20.1 % 14.99 13.5 % 6.34 1188.7 %
2024 58.69 17.6 % 25.14 41.1 % 4.33 190.0 %

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 30.35 % 10.00 % 3.21 %
H1 2022 35.01 % 13.85 % 10.30 %
H2 2022 33.63 % 6.87 % 2.29 %
H1 2023 26.94 % (5.38 %) (10.91 %)
H2 2023 35.71 % (1.10 %) (11.17 %)
2023 35.71 % (1.10 %) (11.17 %)
H1 2024 43.48 % 5.48 % (3.88 %)
H2 2024 42.83 % 15.71 % (6.69 %)
2024 42.83 % 15.72 % (6.69 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
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 1.50 - - 11.73
H2 2021 3.50 0.45 0.45 12.15
H1 2022 3.50 2.22 1.72 13.54
H2 2022 3.50 0.89 0.38 13.38
H1 2023 3.50 (1.66) (1.66) 11.73
H2 2023 3.50 (1.50) (1.59) 11.29
H1 2024 3.50 (0.51) (0.60) 11.13
H2 2024 3.50 7.41 (1.12) 18.48

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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 - - -
H1 2022 - - -
H2 2022 - - -
H1 2023 NEG NEG 3.62
H2 2023 NEG NEG 3.19
H1 2024 NEG NEG 2.51
H2 2024 4.13 NEG 1.66

Business Segments (Million)

Compared With The
Period consulting services maintenance and technical support services sale of programs licenses Implementation of program licenses
Q2 2022 17.23 5.38 7.70 -
Q4 2022 14.80 6.35 6.94 -
Q2 2023 13.81 5.22 2.93 3.15
Q2 2024 12.23 6.77 6.75 3.19


Financial Ratios
Current
Market Cap (M Riyal) 108.33
Enterprise Value (EV) (M) 105.32
Shares Outstanding ((M)) 3.50
Book Value (BV) ( Riyal) 18.48
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
Price/book 1.67
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Share Price

Knowledge Net Co.
30.95
1.95 6.72 %

Knowledge Net Co. (KNOWLEDGENET)

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