Financial Results : Jahez net profit slumps 50% to SAR 59 mln in 2022

Jahez net profit slumps 50% to SAR 59 mln in 2022

21/03/2023 Argaam Exclusive

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Jahez International Company for Information System Technology reported a net profit of SAR 59 million for 2022, down 50% from SAR 117.1 million a year earlier. 



Financials (M)

Item 2021 2022 Change‬
Revenues 1,159.57 1,602.48 38.2 %
Gross Income 245.53 359.18 46.3 %
Operating Income 119.29 140.85 18.1 %
Net Income 117.07 58.98 (49.6 %)
Average Shares 192.00 209.84 9.3 %
EPS (Halala) 60.97 28.11 (53.9 %)

The drop was driven by the logistics segment reporting a loss of SAR 123.8 million in 2022 compared to a loss of SAR 6.4 million in the previous year despite revenue rising 180.4%.

 

On the other hand, the profit of the delivery platforms segment increased by 56% to SAR 180.4 million in 2022 from SAR 115.9 million in 2021 on higher gross revenue and an increase in the average number of users.  

 



Current Half Annual Comparison (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Revenues 673.11 862.65 28.2 %
Gross Income 151.26 190.37 25.9 %
Operating Income 87.84 80.71 (8.1 %)
Net Income 88.35 5.76 (93.5 %)
Average Shares 192.00 209.84 9.3 %
EPS (Halala) 46.01 2.74 (94.0 %)

Total shareholders’ equity, excluding minority interest, reached SAR 1.00 billion as of Dec. 31, 2022, compared to SAR 187.27 million a year earlier.  

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