Al Moammar Information Systems Co. announces its Interim Financial results for the Period Ending on 2024-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	351	372	-5.645	334	5.089
Gross Profit (Loss)	78	79	-1.265	54	44.444
Operational Profit (Loss)	40	59	-32.203	30	33.333
Net profit (Loss)	43	50	-14	73	-41.095
Total Comprehensive Income	43	50	-14	72	-40.277
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Sales/Revenue	684	810	-15.555
Gross Profit (Loss)	132	155	-14.838
Operational Profit (Loss)	69	113	-38.938
Net profit (Loss)	116	96	20.833
Total Comprehensive Income	115	96	19.791
Total Shareholders Equity (after Deducting Minority Equity)	413	431	-4.176
Profit (Loss) per Share	3.86	3.2
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	-	-
Accumulated Losses	-	-
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 company posted a sales revenue of SAR. 351M in the current quarter in comparison to SAR. 372M in a similar quarter to the previous year registering a drop of 6%. The decrease is attributed to the drop in operational revenue of the company business.
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 company posted a gross profit of SAR 78M in the current quarter versus SAR 79M in a similar quarter of the previous year, a decrease of 1%, which is attributed to the decrease in some of the operational revenue of the company business.

The net profit for the current quarter is SAR. 43M in comparison to net profit of SAR.50M for a similar quarter to the previous year, registering a decrease of 14%. The decrease is mainly attributed to the decrease in gross profits, an increase in operational & finance costs, and increase in impairment loss in contract assets and trade receivables by SAR. 6.7M all these elements contributed together to the drop in net profit in the current quarter.

The total comprehensive income for the current quarter is SAR. 43M in comparison to SAR. 50M in a similar quarter to the previous year, registering a decrease of 14%.The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The company posted a sales revenue of SAR. 351M in the current quarter in comparison to SAR. 334M in the previous quarter of the current year registering an increase of 5%. The increase is attributed to the increase in operational revenue of the company business.The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The net profit for the current quarter is SAR. 43M versus SAR. 73M in the previous quarter of the current year, registering a drop of 41%. During the previous quarter of current year, the company had registered a one-time gain from disposal of shares of Edarat amounting to SAR. 58M versus SAR. 22M gain from valuation of DC units in current quarter, in addition, the company registered a provision in investment in Digital Bank amounting to SAR. 6M and increase in impairment loss in contract assets and trade receivables by SAR. 6.7M all these contributed together to the drop in net profit in the current quarterThe reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is The company posted a sales revenue of SAR. 684M in the current period in comparison to SAR. 810M in a similar period to the previous year registering a drop of 16%. The decrease is attributed to the decrease in some of the operational revenue of the company business.The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The net profit for the current period is SAR. 116M in comparison to SAR. 96M in the same period of the last year, registering an increase of 21%. This mainly attributed to the company registered a gain from one-time transaction from disposal of some shares in its associate company Edarat and valuation of data centers units amounting to SAR. 80M.Statement of the type of external auditor's report Unmodified conclusionComment 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/AReclassification of Comparison Items N/AAdditional Information N/A

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