AICTEC net profit falls to SAR 5.2 mln in 2021
14/04/2022
Argaam Exclusive
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Advance International Company for Communication and Information Technology’s (AICTEC) net profit after Zakat and tax fell 42% to SAR 5.2 million in 2021 from SAR 9 million in the year-earlier period.
Financials (M)
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 32.83 | 30.11 | (8.3 %) |
| Gross Income | 18.38 | 18.90 | 2.8 % |
| Operating Income | 9.73 | 6.45 | (33.7 %) |
| Net Income | 8.98 | 5.25 | (41.6 %) |
| Average Shares | 64.00 | 64.00 | - |
| EPS (Halala) | 14.03 | 8.20 | (41.6 %) |
The decline was due to higher operating fees and general and administrative expenses, as well as a rise in the value of external purchases.
Compared With The
Current Half Annual Comparison (M)
| Item | H2 2020 | H2 2021 | Change |
|---|---|---|---|
| Revenues | 21.78 | 17.34 | (20.4 %) |
| Gross Income | 12.14 | 8.54 | (29.6 %) |
| Operating Income | 7.47 | 1.86 | (75.1 %) |
| Net Income | 7.43 | 0.98 | (86.8 %) |
| Average Shares | 64.00 | 64.00 | - |
| EPS (Halala) | 11.61 | 1.53 | (86.8 %) |
Total shareholders’ equity, excluding minority interest, rose 25.7% year-on-year (YoY) to SAR 26.71 million.
Financial results (Million)
| Period | Revenues | Change | Gross Income | Change | Operating Income | Change |
|---|---|---|---|---|---|---|
| H1 2021 | 12.77 | 15.6 % | 10.35 | 65.9 % | 4.59 | 103.6 % |
| H2 2021 | 17.34 | (20.4 %) | 8.54 | (29.6 %) | 1.86 | (75.1 %) |
| 2021 | 30.11 | (8.3 %) | 18.90 | 2.8 % | 6.45 | (33.7 %) |
Profit Performance (Million)
| Period | Net Income | Change | EPS(Halala) | Extraordinary Income/Expense | Net Profit Before Unusual Items | EPS Before XO Items |
|---|---|---|---|---|---|---|
| H1 2021 | 4.27 | 175.9 % | 6.67 | - | 4.27 | 0.07 |
| H2 2021 | 0.98 | (86.8 %) | 1.53 | - | 0.98 | 0.02 |
| 2021 | 5.25 | (41.6 %) | 8.20 | - | 5.25 | 0.08 |
Profitability
| Period | Gross Margin | OIBDA Margin | Net Margin Before Unusual Items |
|---|---|---|---|
| H1 2021 | 65.09 % | 38.23 % | 33.85 % |
| H2 2021 | 62.76 % | 25.30 % | 17.43 % |
| 2021 | 62.76 % | 25.30 % | 17.43 % |
Compared With The
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS (Halala) | Adjusted EPS (Halala) | Book Value (BV) |
|---|---|---|---|---|
| H1 2021 | 64.00 | 18.28 | 18.28 | 0.40 |
| H2 2021 | 64.00 | 8.20 | 8.20 | 0.42 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E | Price/book |
|---|---|---|---|
| H1 2021 | - | - | - |
| H2 2021 | - | - | - |
Business Segments (Million)
2021
| Period | Projects | Wholesale | technical support | Other |
|---|
| Current | |
| Market Cap (M Riyal) | 260.48 |
| Enterprise Value (EV) (M) | 257.05 |
| Shares Outstanding ((M)) | 64.00 |
| Book Value (BV) ( Riyal) | 0.58 |
| Par Value ( Halala) | 50.00 |
| Adjusted P/E (Last12) | More than 100 |
| Price/book | 6.98 |
Share Price
Advance International Company for Communication and Information Technology (AICTEC)
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