KnowledgeNet Co. reported a net loss of SAR 5.3 million for 2023, versus a net profit of SAR 3.1 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 58.41 | 51.87 | (11.2 %) |
| Gross Income | 19.64 | 17.78 | (9.5 %) |
| Operating Income | 1.34 | (7.90) | (690.7 %) |
| Net Income | 3.10 | (5.26) | (269.8 %) |
| Average Shares | 3.50 | 3.50 | - |
| EPS (Riyals) | 0.89 | (1.50) | (269.8 %) |
This was due to an increase in operating expenses as a result of the strategic investment in some subsidiaries, which amounted to SAR 4.22 million. These investments are still in the early stages of growth and have not begun generating revenues in 2023.
The company also cited one-off expenses of SAR 935,772 related to its Nomu listing that took place in H1 2023. This is in addition to lower revenue from an affiliate, which pressured the overall 2023 topline.
Total shareholders’ equity, after minority interest, stood at SAR 39.50 million by Dec. 31, 2023, compared to SAR 46.81 million a year ago.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net profit (SAR mln) |
EPS (SAR /share) |
|
H1 2021 |
20.97 |
(1.32) |
(0.53) |
|
H2 2021 |
28.05 |
2.89 |
1.16 |
|
H1 2022 |
30.32 |
4.87 |
1.39 |
|
H2 2022 |
28.10 |
(1.65) |
(0.47) |
|
H1 2023 |
25.11 |
(4.34) |
(1.24) |
|
H2 2023 |
26.76 |
(0.923) |
(0.26) |
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