KnowledgeNet 2022 profit doubles to SAR 3.2 mln

30/03/2023 Argaam Exclusive

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KnowledgeNet Co. posted a net profit of SAR 3.2 million in 2022, from SAR 1.6 million a year before.

Financials (M)

Item	2021	2022	Change‬
Revenues	49.02	58.41	19.2 %
Gross Income	14.88	19.64	32.0 %
Operating Income	2.55	1.34	(47.6 %)
Net Income	1.57	3.10	97.0 %
Average Shares	3.50	3.50	-
EPS (Riyals)	0.45	0.89	97.0 %

The better results were mainly due to an increase in sales by 19.19% year-on-year (YoY) to SAR 58.42 million in 2022.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	28.04	28.09	0.2 %
Gross Income	10.51	9.72	(7.5 %)
Operating Income	3.69	(0.53)	(114.4 %)
Net Income	2.90	(1.77)	(161.2 %)
Average Shares	3.50	3.50	-
EPS (Riyals)	0.83	(0.51)	(161.2 %)

Item	H1 2022	H2 2022	Change‬
Revenues	30.32	28.09	(7.3 %)
Gross Income	9.92	9.72	(2.0 %)
Operating Income	1.87	(0.53)	(128.5 %)
Net Income	4.87	(1.77)	(136.4 %)
Average Shares	3.50	3.50	-
EPS (Riyals)	1.39	(0.51)	(136.4 %)

Shareholders' equity, after minority interest, reached SAR 46.94 million by the end of 2022, compared to SAR 42.51 million a year before.

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