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Arabian Internet and Communications Services Company (solutions) announces its interim condensed consolidated financial results for the period ending on 31-03-2024 (three months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 2,809 | 2,676 | 4.97 | 2,868 | -2.057 |
| Gross Profit (Loss) | 619 | 606 | 2.145 | 464 | 33.405 |
| Operational Profit (Loss) | 370 | 357 | 3.641 | 204 | 81.372 |
| Net profit (Loss) | 353 | 304 | 16.118 | 162 | 117.901 |
| Total Comprehensive Income | 198 | 220 | -10 | 146 | 35.616 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 3,525 | 3,016 | 16.876 |
| Profit (Loss) per Share | 2.97 | 2.55 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The increase in revenues for the current quarter by 5.0% as compared to the corresponding quarter of the previous year was mainly due to the increase in each of Core ICT Services by 1.6%, IT Managed and Operational Services by 15.4% and Digital Services by 0.8%. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The increase in net profit for the current quarter by SAR 49 million as compared to the corresponding quarter of the previous year was mainly due to the increase in gross profit by SAR 13 million as a result of the increase in revenues by SAR 133 million which was offset by an increase in the cost of revenues by SAR 120 million. On the other side, operating expenses slightly increased by SAR 0.1 million, as a result of the increase in general and administration expenses by SAR 9.3 million, which was offset by a decrease in selling and distribution expenses by SAR 9.2 million. Zakat and tax charge decreased by SAR 48 million. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The decrease in revenues for the current quarter by 2.1% as compared to the previous quarter was mainly due to the decrease in IT Managed and Operational Services by 10.2%, despite the increase in each of Core ICT Services by 0.1% and Digital Services by 6.6%. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The increase in net profit for the current quarter by SAR 191 million as compared to the previous quarter was mainly due to the increase in gross profit by SAR 155 million as a result of the decrease in cost of revenues by SAR 214 million which was offset by a decrease in revenues by SAR 59 million. Operating expenses decreased by SAR 10 million, as a result of the decrease in general and administration expenses by SAR 36 million, which was offset by an increase in selling and distribution expenses by SAR 26 million. Zakat and tax charge also decreased by SAR 56 million. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | - |
| Reclassification of Comparison Items | - |
| Additional Information | Earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for the current quarter amounted to SAR 440 million as compared to SAR 419 million for the corresponding quarter of the previous year, with an increase of 5.0%. Basic earnings per share (EPS) was calculated based on the weighted average number of ordinary traded shares which stands at 118,977 (in thousand) shares for the three-months period ended in 31st March 2024. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Company Performance
Key Parameters
Last Price 295.2
Net Change -7.0 (-2.32%)
Value Traded (Sar) 102,637,940.4
Volume Traded 346,394
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