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Arabian Internet and Communications Services Company (solutions) announces its annual consolidated financial results for the year ended 31-12-2023
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 11,040 | 8,805 | 25.38 | ||
| Gross Profit (Loss) | 2,598 | 2,011 | 29.19 | ||
| Operational Profit (Loss) | 1,387 | 1,160 | 19.57 | ||
| Net profit (Loss) | 1,192 | 1,053 | 13.2 | ||
| Total Comprehensive Income | 1,099 | 986 | 11.46 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 3,324 | 2,810 | 18.29 | ||
| Profit (Loss) per Share | 10.02 | 8.86 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| 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 year compared to the last year | The increase in revenues for the year 2023 by 25.4% as compared to the previous year was mainly due to the increase in each of Core ICT Services by 25.6%, IT Managed and Operational Services by 40.0% and Digital Services by 4.7%. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net profit for the year 2023 by SAR 139 million as compared to the previous year was mainly due to the increase in gross profit by SAR 587 million, as a result of the increase in revenues by SAR 2,235 million, which was offset by an increase in the cost of revenues by SAR 1,649 million. On the other side, operating expenses increased by SAR 360 million, as a result of the increase in both general and administration expenses by SAR 110 million, and selling and distribution expenses by SAR 250 million. Zakat and tax charge also increased by SAR 92 million. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | N/A |
| Reclassification of Comparison Items | Certain comparative period amount has been reclassified to conform with the classification used for the year ended 31 December 2023. |
| Additional Information | Earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for the year 2023 amounted to SAR 1,669 million as compared to SAR 1,392 million for the last year, with an increase of 19.9%. Basic earnings per share (EPS) was calculated based on the weighted average number of ordinary traded shares which stands at 118,974 shares (in thousand) for the twelve-months period ended in 31st December 2023. |
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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Last Price 197.0
Net Change 0.3 (+0.15%)
Value Traded (Sar) 18,289,861.7
Volume Traded 92,739
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