solutions net profit rises 14% to SAR 718 mln in 9M 2021

19/10/2021 Argaam Exclusive

View other reports

Arabian Internet and Communications Services Co. (solutions) reported a net profit after Zakat and tax of SAR 718 million for the first nine months of 2021, an increase of 14% from SAR 628 million in the same period last year.

The profit growth was driven by higher gross profit and improved total revenue, on an increase in IT managed and operational services by 19.8%, core ICT service by 11.5% and digital services by 4.9%.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	5,141.37	5,755.45	11.9 %
Gross Income	1,110.36	1,284.24	15.7 %
Operating Income	675.11	771.33	14.3 %
Net Income	628.24	718.49	14.4 %
Average Shares	120.00	120.00	-
EPS (Riyals)	5.24	5.99	14.4 %

The net profit after Zakat and tax for Q3 2021 stood at SAR 257 million, up 7% year-on-year (YoY), due to a 6.7% increase in gross profit, 0.46% growth in total revenue and a 1.3% decline in the cost of revenue.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	1,942.35	1,951.46	0.5 %
Gross Income	434.16	462.77	6.6 %
Operating Income	254.35	276.44	8.7 %
Net Income	240.11	257.17	7.1 %
Average Shares	120.00	120.00	-
EPS (Riyals)	2.00	2.14	7.1 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	1,937.20	1,951.46	0.7 %
Gross Income	432.10	462.77	7.1 %
Operating Income	270.60	276.44	2.2 %
Net Income	256.12	257.17	0.4 %
Average Shares	120.00	120.00	-
EPS (Riyals)	2.13	2.14	0.4 %

On a sequential basis, net profit was almost flat, rising by 0.39%.

Earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) rose 22.7% to SAR 923 million for the nine-month period, compared to SAR 752 million for the corresponding period last year.

Meanwhile, Q3 2021 EBITDA jumped 24.7% YoY to SAR 353 million.

Total shareholders’ equity, excluding minority interest, rose 12.45% YoY to SAR 2.14 billion in 9M 2021.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×