Financial Results : Jahez net profit rises 85% to SAR 53.2 mln in H1 2022

Jahez net profit rises 85% to SAR 53.2 mln in H1 2022

04/09/2022 Argaam Exclusive

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Jahez International Company for Information System Technology reported a net profit after Zakat and tax of SAR 53.2 million for the first half of 2022, a rise of 85% from SAR 28.7 million a year earlier.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 486.46 739.82 52.1 %
Gross Income 94.26 168.81 79.1 %
Operating Income 31.45 60.14 91.2 %
Net Income 28.72 53.22 85.3 %
Average Shares 192.00 209.84 9.3 %
EPS (Halala) 14.96 25.36 69.6 %

The profit surge was attributed to a 59.9% surge year-on-year (YoY) in revenue, due to the increase in delivery fee and commission revenue by SAR 159.5 million and SAR 81.8 million, respectively.

 

The higher revenue was driven by a 36.5% YoY rise in gross merchandize value (GMV) to SAR 2 billion. The average take rate increased in the first half to 12.3%, compared to 11.2% in H1 2021. Gross profit also soared 90% despite a 52.6% increase in the cost of revenue.

 

Operating profit skyrocketed 91.2% YoY. Earnings before interest, tax, depreciation and amortization (EBITDA) grew to SAR 66.1 million, from SAR 34.1 million in H1 2021.



Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 486.46 739.82 52.1 %
Gross Income 94.26 168.81 79.1 %
Operating Income 31.45 60.14 91.2 %
Net Income 28.72 53.22 85.3 %
Average Shares 192.00 209.84 9.3 %
EPS (Halala) 14.96 25.36 69.6 %

Total shareholders’ equity, excluding minority interest, rose to SAR 990.96 million as of June 30, 2022, from SAR 98.77 million a year earlier.  

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