Al Moammar Information Systems Co. — Earnings Release 2022

Feb 20, 2023

Al Moammar Information Systems Co.(MIS) announces its Annual Financial Results for the Period Ending on 2022-12-31

7200 · 20/02/2023 09:44:27 · Announcement #72084 · View on Saudi Exchange

Al Moammar Information Systems Co.(MIS) announces its Annual Financial Results for the Period Ending on 2022-12-31

Element List	Current Year	Previous Year	%Change
Sales/Revenue	789.62	638.82	23.61
Gross Profit (Loss)	202.77	166.72	21.62
Operational Profit (Loss)	101.78	77.26	31.74
Net Profit (Loss) after Zakat and Tax	95.86	56.48	69.72
Total Comprehensive Income	98.44	56.21	75.13
Total Share Holders Equity (after Deducting Minority Equity)	371.1	333.66	11.22
Profit (Loss) per Share	3.2	1.88
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current year compared to the last year is	The company posted a sales revenue of SAR. 789.62M in the current year in comparison to SAR. 638.82M for the previous year a growth of 24%. The increase is attributed to growth in company core operation across all products line and services

offering.

The company posted a gross profit of SAR 202.77M in the current year versus SAR 166.72M for the previous year, an increase of 22%, which is attributed by the increase in revenue and continued operational efficiency.

The company has reported gain on disposal of some shares held in Edarat amounting to SAR. 15.24M.

The net profit for the current year SAR. 95.86M in comparison to SAR. 56.48M for the previous year, an increase of 70% in the current year due to revenue growth and continued operational efficiency during the current reporting year, despite increase in operational expenses.

It is worth mentioning that the charge to income statement through impairment provisions were significantly reduced to SAR 1.7M in 2022 as compared to SAR 18.4M in previous year 2021, due to the improvement in collection from customers

The total comprehensive income for the current year is SAR. 98.44M in comparison to SAR. 56.21M in the previous year, an increase of 75%. Statement of the type of external auditor's report Unmodified opinion Reclassification of Comparison Items There has been reclassification in some accounts to comply with IAS 1 - Presentation of Financial Statements. Certain prior year amounts have been reclassified to conform with the presentation in the current year. Additional Information The company posted Sales Revenue of SAR. 313M in Q4-2022 in comparison to SAR. 175M in Q4-2021, registering a growth of 80%. Further the Income from Operations registered a growth of 78% in Q4-2022 compared to Q4-2021. The Net Income after Zakat grew by 163% to SAR. 49.3M in Q4-2022 in comparison to SAR. 18.7M in Q4-2021.

The company posted Sales Revenue of SAR. 313M in Q4-2022 in comparison to SAR. 198M in Q3-2022, registering a growth of 58%. Further the Income from Operations registered a growth of 44% in Q4-2022 compared to Q3-2022. The Net Income after Zakat grew by 97% to SAR. 49M in Q4-2022 in comparison to SAR. 25M in Q3-2022.

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