Edarat’s 2022 profit jumps 95% to SAR 12.6 mln

31/01/2023 Argaam Exclusive

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Share Price

Edarat Communication and Information Technology Co. (EDARAT)

Nomu-listed Edarat Communications and Information Technology Co. (Edarat) reported a net profit of SAR 12.6 million in 2022, up 95% compared to SAR 6.5 million in the previous year, driven by a 58% year-on-year (YoY) increase in revenue.

Financials (M)

Item	2021	2022	Change‬
Revenues	37.33	58.89	57.8 %
Gross Income	12.79	23.80	86.0 %
Operating Income	7.47	14.31	91.5 %
Net Income	6.48	12.60	94.5 %
Average Shares	2.52	2.52	-
EPS (Riyals)	2.57	5.00	94.5 %

Gross profit also jumped 83% YoY.

Total shareholders’ equity, with no minority interest, stood at SAR 21.46 million by the end of 2022, compared to SAR 12.91 million a year earlier.

Total comprehensive income came in at SAR 12 million, up from SAR 6.4 million in 2021. Statutory reserve from retained earnings was raised to 30% of capital.

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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	-	-	-	-	-	-	-
Q1 2020	-	-	-	-	-	-	-
Q2 2020	-	-	-	-	-	-	-
Q3 2020	-	-	-	-	-	-	-
Q4 2020	-	-	-	-	-	-	-
2020	30.64	-	8.64	-	3.87	-	1.54
Q1 2021	4.05	-	0.46	-	(0.36)	-	(0.14)
Q2 2021	6.78	-	3.39	-	1.20	-	0.47
Q3 2021	-	-	-	-	-	-	-
Q4 2021	-	-	-	-	-	-	-
2021	37.33	21.8 %	12.79	48.0 %	6.48	67.2 %	2.57
Q1 2022	13.64	237.0 %	5.94	1204.8 %	3.03	933.5 %	1.20
Q2 2022	14.90	119.7 %	7.72	127.8 %	3.24	170.7 %	1.28
Q3 2022	-	-	-	-	-	-	-
Q4 2022	-	-	-	-	-	-	-
2022	58.89	57.8 %	23.80	86.0 %	12.60	94.5 %	5.00

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2013	-	-	-	-	-	-	-
2014	-	-	-	-	-	-	-
2015	-	-	-	-	-	-	-
2016	-	-	-	-	-	-	-
2017	-	-	-	-	-	-	-
2018	-	-	-	-	-	-	-
2019	-	-	-	-	-	-	-
2020	30.64	-	8.64	-	3.87	-	1.54
2021	37.33	21.8 %	12.79	48.0 %	6.48	67.2 %	2.57
2022	58.89	57.8 %	23.80	86.0 %	12.60	94.5 %	5.00

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	-	-	-
Q1 2020	-	-	-
Q2 2020	-	-	-
Q3 2020	-	-	-
Q4 2020	-	-	-
2020	28.21 %	15.29 %	12.64 %
Q1 2021	11.25 %	-	(9.00 %)
Q2 2021	35.47 %	-	7.68 %
Q3 2021	-	-	-
Q4 2021	-	-	-
2021	34.27 %	22.27 %	17.35 %
Q1 2022	39.96 %	-	15.80 %
Q2 2022	44.43 %	-	18.04 %
Q3 2022	-	-	-
Q4 2022	-	-	-
2022	40.41 %	27.77 %	21.40 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	28.21 %	15.29 %	12.64 %
2021	34.27 %	22.27 %	17.35 %
2022	40.41 %	27.77 %	21.40 %

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	-	-	-
Q1 2021	11.25 %	-	(9.00 %)
Q2 2021	49.91 %	-	17.63 %
Q3 2021	-	-	-
Q4 2021	-	-	-
Q1 2022	43.54 %	-	22.25 %
Q2 2022	51.76 %	-	21.73 %
Q3 2022	-	-	-
Q4 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	-	-	-	-
Q1 2021	2.52	(0.14)	(0.14)	-
Q2 2021	2.52	0.33	0.33	2.92
Q3 2021	-	-	-	-
Q4 2021	-	-	-	-
Q1 2022	2.52	1.53	1.53	-
Q2 2022	2.52	2.82	2.82	6.24
Q3 2022	-	-	-	-
Q4 2022	-	-	-	-

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	-	-	-	-
2014	-	-	-	-
2015	-	-	-	-
2016	-	-	-	-
2017	-	-	-	-
2018	-	-	-	-
2019	-	-	-	-
2020	2.52	1.54	1.54	2.59
2021	2.52	2.57	2.57	5.12
2022	2.52	5.00	5.00	8.52

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	-	-	-
Q3 2022	-	-	-
Q4 2022	-	-	-

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	-	-	-
2016	-	-	-
2017	-	-	-
2018	-	-	-
2019	-	-	-
2020	-	-	-
2021	-	-	-
2022	12.02	12.02	7.06

Business Segments (Million)

Compared With The

Period	Engineering Services for Data Centres	Cloud computing services

Period	Engineering Services for Data Centres	Cloud computing services
2020	11.29	19.35
2021	24.36	12.97
2022	46.81	12.08

Financial Ratios

	Current
Market Cap (M Riyal)	859.32
Enterprise Value (EV) (M)	851.17
Shares Outstanding ((M))	2.52
Book Value (BV) ( Riyal)	15.49
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	49.47
Price/book	22.02

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Edarat’s 2022 profit jumps 95% to SAR 12.6 mln

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Share Price

Edarat Communication and Information Technology Co. (EDARAT)

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 Q4

Financial Ratios

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Edarat’s 2022 profit jumps 95% to SAR 12.6 mln

View other reports

Share Price

Edarat Communication and Information Technology Co. (EDARAT)

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 Q4

Financial Ratios

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Business Segments (Million)