MIS profit surges to SAR 122M in 9M 2024; Q3 at SAR 17M

Al Moammar Information Systems Co. (MIS) recorded a net profit of SAR 122 million in the first nine months of 2024, soaring from SAR 27 million in the prior-year period.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Revenues	1,171.00	957.51	(18.2 %)
Gross Income	214.00	201.22	(6.0 %)
Operating Income	55.00	102.39	86.2 %
Net Income	27.00	121.56	350.2 %
Average Shares	30.00	30.00	-
EPS (Riyals)	0.90	4.05	350.2 %

This was mainly attributed to registering a SAR 77 million gain from disposal of some shares in the associate, Edarat Communications and Information Technology Co., and valuation of data centers units.

The company also cited an expected credit loss provision in 9M 2023, which was not recorded at the same amount during the current period.

However, revenue dropped 18% to SAR 958 million from SAR 1.17 billion a year ago.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Revenues	361.00	273.46	(24.3 %)
Gross Income	58.00	69.16	19.2 %
Operating Income	(58.00)	32.94	156.8 %
Net Income	(69.00)	16.73	124.3 %
Average Shares	30.00	30.00	-
EPS (Riyals)	(2.30)	0.56	124.3 %

Item	Q2 2024	Q3 2024	Change‬
Revenues	350.55	273.46	(22.0 %)
Gross Income	78.12	69.16	(11.5 %)
Operating Income	39.55	32.94	(16.7 %)
Net Income	31.74	16.73	(47.3 %)
Average Shares	30.00	30.00	-
EPS (Riyals)	1.06	0.56	(47.3 %)

In Q3 2024, the company turned to net earnings of SAR 17 million, versus net losses of SAR 69 million in Q3 2023, driven by higher gross profit.

Sequentially, Q3 2024 net earnings dropped from SAR 32 million in Q2 2024.

Total shareholders’ equity, no minority interest, increased to SAR 417 million as of Sept. 30, 2024, from SAR 317 million in the prior-year period.

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Quarterly Actuals vs Estimates 10/11/202411/11/2024

All
Above Expectations
Below Expectations

Company	Estimated	Actual	Change
CENOMI RETAIL	(94.00)	17.71	118.8 %
CENOMI CENTERS	259.80	334.65	28.8 %
DALLAH HEALTH	125.18	126.15	0.8 %
ALMAWARID	25.80	17.10	(33.7 %)
MIS	35.23	16.73	(52.5 %)
SPIMACO	23.50	(8.03)	(134.2 %)

Company	Estimated	Actual	Change
CENOMI RETAIL	(94.00)	17.71	118.8 %
CENOMI CENTERS	259.80	334.65	28.8 %
DALLAH HEALTH	125.18	126.15	0.8 %

Company	Estimated	Actual	Change
SPIMACO	23.50	(8.03)	(134.2 %)
MIS	35.23	16.73	(52.5 %)
ALMAWARID	25.80	17.10	(33.7 %)

Share Price

Al Moammar Information Systems Co. (MIS)

	Current
Market Cap (M Riyal)	4,908.00
Enterprise Value (EV) (M)	5,666.21
Shares Outstanding ((M))	30.00
Book Value (BV) ( Riyal)	13.91
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	More than 100
Price/book	11.76
Return on Average Assets (%) (TTM)	4.7
Return on Average Equity (%) (TTM)	29.6

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MIS profit surges to SAR 122M in 9M 2024; Q3 at SAR 17M

Financials (M)

Current Quarter Comparison (M)

Quarterly Actuals vs Estimates 10/11/202411/11/2024

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Share Price

Al Moammar Information Systems Co. (MIS)

Financial Ratios

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