Saudi Azm net profit up 38% to SAR 11.1 mln in H1 2022/23

12/02/2023 Argaam Exclusive

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Share Price

Saudi Azm for Communication and Information Technology Co. (AZM)

Saudi Azm for Communication and Information Technology Co. reported a net profit after Zakat and tax of SAR 11.1 million for the first half ended Dec. 31, 2022, a 38% increase from SAR 8 million in the year-earlier period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	73.25	102.92	40.5 %
Gross Income	15.69	22.56	43.8 %
Operating Income	8.75	11.56	32.1 %
Net Income	8.00	10.98	37.3 %
Average Shares	60.00	60.00	-
EPS (Halala)	13.33	18.30	37.3 %

The profit rise came on the back of an overall increase in revenue by 40.50% year-on-year (YoY) where all other costs were consistent with higher revenue.

Increase in revenue from new customers was 27% of the total revenue growth.

Total shareholders’ equity, excluding minority interest, stood at SAR 57.73 million as of Dec. 31, 2022, compared to SAR 41.44 million in the year-ago period.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Halala)
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	15.26	-	4.20	-	2.98	-	4.97
Q1 2019	-	-	-	-	-	-	-
Q2 2019	-	-	-	-	-	-	-
Q3 2019	-	-	-	-	-	-	-
Q4 2019	-	-	-	-	-	-	-
2019	67.45	342.1 %	18.55	341.8 %	7.76	160.0 %	12.93
Q1 2020	-	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-	-
2020	102.98	52.7 %	20.72	11.7 %	11.87	53.1 %	19.79
Q1 2021	-	-	-	-	-	-	-
Q2 2021	-	-	-	-	-	-	-
Q3 2021	-	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-	-
2021	135.14	31.2 %	29.23	41.1 %	15.54	30.8 %	25.89
Q1 2022	-	-	-	-	-	-	-
Q2 2022	-	-	-	-	-	-	-
Q3 2022	-	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-	-
2022	152.56	12.9 %	30.81	5.4 %	19.10	23.0 %	31.84
Q1 2023	-	-	-	-	-	-	-
Q2 2023	-	-	-	-	-	-	-

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Halala)
2013	-	-	-	-	-	-	-
2014	-	-	-	-	-	-	-
2015	-	-	-	-	-	-	-
2016	-	-	-	-	-	-	-
2017	-	-	-	-	-	-	-
2018	15.26	-	4.20	-	2.98	-	4.97
2019	67.45	342.1 %	18.55	341.8 %	7.76	160.0 %	12.93
2020	102.98	52.7 %	20.72	11.7 %	11.87	53.1 %	19.79
2021	135.14	31.2 %	29.23	41.1 %	15.54	30.8 %	25.89
2022	152.56	12.9 %	30.81	5.4 %	19.10	23.0 %	31.84

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	27.51 %	21.44 %	19.55 %
Q1 2019	-	-	-
Q2 2019	-	-	-
Q3 2019	-	-	-
Q4 2019	-	-	-
2019	27.49 %	14.41 %	11.50 %
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	20.12 %	13.56 %	11.53 %
Q1 2021	-	-	-
Q2 2021	-	-	-
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	21.63 %	13.24 %	11.50 %
Q1 2022	-	-	-
Q2 2022	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	20.20 %	10.23 %	8.78 %
Q1 2023	-	-	-
Q2 2023	-	-	-

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	27.51 %	21.44 %	19.55 %
2019	27.49 %	14.41 %	11.50 %
2020	20.12 %	13.56 %	11.53 %
2021	21.63 %	13.24 %	11.50 %
2022	20.20 %	10.23 %	8.78 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	-	-	-
Q2 2023	-	-	-

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
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	-	-	-	-
Q3 2022	-	-	-	-
Q4 2022	-	-	-	-
Q1 2023	-	-	-	-
Q2 2023	-	-	-	-

Period	Shares Outstanding (M)	EPS (Halala)	Adjusted EPS (Halala)	Book Value (BV)
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	60.00	4.97	4.97	0.05
2019	60.00	12.93	12.93	0.16
2020	60.00	19.79	19.79	0.36
2021	60.00	25.89	25.89	0.54
2022	60.00	31.84	22.32	0.86

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-
Q1 2023	-	-	-
Q2 2023	-	-	-

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	27.01	38.53	9.95

Business Segments (Million)

Compared With The

Period	Enterprise Services	Platforms for third parties	Advisory	Proprietary Technologies

Period	Enterprise Services	Platforms for third parties	Advisory	Proprietary Technologies
2021	97.20	15.44	16.41	6.09
2022	89.45	14.58	39.20	9.33

Financial Ratios

	Current
Market Cap (M Riyal)	894.00
Enterprise Value (EV) (M)	850.49
Shares Outstanding ((M))	60.00
Book Value (BV) ( Riyal)	1.14
Par Value ( Halala)	50.00
Adjusted P/E (Last12)	More than 50
Price/book	13.07

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Saudi Azm net profit up 38% to SAR 11.1 mln in H1 2022/23

View other reports

Share Price

Saudi Azm for Communication and Information Technology Co. (AZM)

Financials (M)

Financial results (Million)

Profitability

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q2

Financial Ratios

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Saudi Azm net profit up 38% to SAR 11.1 mln in H1 2022/23

View other reports

Share Price

Saudi Azm for Communication and Information Technology Co. (AZM)

Financials (M)

Financial results (Million)

Profitability

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Business Segments (Million) 2023

Revenue by Business Segment (Latest) 2023 Q2

Financial Ratios

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Business Segments (Million)