KnowledgeNet turns to SAR 5.3M loss in 2023

31/03/2024 Argaam Exclusive

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. 



Financials (M)

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) (690.8 %)
Net Income 3.10 (5.26) (269.8 %)
Average Shares 3.50 3.50 -
EPS (Riyals) 0.89 (1.50) (269.8 %)


Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 28.09 26.76 (4.8 %)
Gross Income 9.72 13.18 35.5 %
Operating Income (0.53) (2.60) (389.0 %)
Net Income (1.77) (1.23) 30.6 %
Average Shares 3.50 3.50 -
EPS (Riyals) (0.51) (0.35) 30.6 %

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)
 

View More Financial Results

 

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Share Price

Knowledge Net Co.
29.00
(2.70) (8.52 %)

Knowledge Net Co. (KNOWLEDGENET)

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Financial Ratios
Current
Market Cap (M Riyal) 101.50
Enterprise Value (EV) (M) 88.93
Shares Outstanding ((M)) 3.50
Book Value (BV) ( Riyal) 11.29
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
Price/book 2.57
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