Al Moammar Information Systems Co. (MIS) discloses its annual financial performance for the period ending December 31, 2024.

April 2, 2025 - The company recorded a sales revenue of SAR 1,213M this year, compared to SAR 1,460M in the previous year.

This decline is mainly attributed to the reduction in certain company operations and the combined role of the company as both principal and agent.

The company reported a gross profit of SAR 258M for the current year, up from SAR 246M in the previous year, driven by an improvement in the gross profit margin from 16% to 21%.

The company achieved an operational profit of SAR 121M this year, compared to SAR 62M in the prior year.

This increase is primarily due to the absence of additional ECL provision charges this year, whereas SAR 87M was booked in the previous year, along with the improvement in the gross profit margin.

The net profit for the current year stands at SAR 124M, compared to SAR 14M last year. This rise is attributed to the growth in operational profit, a one-time adjustment of SAR 58M from the sale of a 10% stake in the associate company Edarat Telecommunication and IT, and a SAR 25M gain from the fair value assessment of data center units. However, this was offset by SAR 29M in booked losses from subsidiaries.

The total comprehensive income for the current year reached SAR 126M, compared to SAR 14M in the previous year.

It is noteworthy that total shareholders' equity has grown, reaching SAR 423M during the current period, up from SAR 287M in the same period last year.

Additionally, earnings per share increased to SAR 4.15 per share in the current period, compared to SAR 0.47 per share in the previous year.