Robust financial performance with resilient profitability levels and expanding backlog

Robust financial performance with resilient profitability levels and expanding backlog

A healthy and diversified, growing backlog driven by strong profit levels, sales and diversification of revenue streams

One of the leading ICT providers
in the Kingdom of Saudi Arabia

One of the leading ICT providers in the Kingdom of Saudi Arabia

Deep knowledge and understanding of the culture and work environment in both the public and private sectors

Proven capabilities to deliver
a diverse range of tailored solutions

Proven capabilities to deliver a diverse range of tailored solutions

Our strong digital capabilities offers customers comprehensive and tailored digital initiatives with ready-to-use optimised transformation solutions, with compliance tools

Overview

2P provides a wide range of comprehensive ICT services and solutions to its clients through three integrated business units, the Software Development Unit, Operation and Maintenance Unit and Customer Experience Unit. Each of these units covers an important part of the ICT sector and requirements within Saudi Arabia, operating in an interconnected and integrated environment to meet the requirements of all clients while maintaining the highest market standards for quality and excellence. The diversity and integration of the Company’s existing products and services, and continuous development of new products and services, means that 2P is the only dedicated ICT provider of its kind in Saudi Arabia.

Message From the Management

We believe that the Saudi ICT sector represents an enormous and exciting opportunity as it continues to grow following the increase in investment in Smart Cities and Giga Projects over recent years.
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The listing of 2P will help propel our future growth in line with market demands, and enable us to maintain and enhance our position as a leading ICT company in the Kingdom, supporting the Crown Prince HRH Mohammed Bin Salman’s inspiring vision.

Nasser Albassam

Founder and Chairman

2P has strong digital capabilities and scale to offer our clients comprehensive and tailored solutions. Since its foundation, the Company has built a solid reputation and demonstrated its ability to be able to address our clients’ needs and have remained focused on providing innovate solutions.

Ehsan Doughman

CEO

About 2P

Well placed player within a growing sector

A growing player in a growing ICT market

  • The ICT sector in Saudi Arabia has been growing in recent years, with increased investment in Giga Projects and Smart Cities
  • The global pandemic has changed the needs and requirements of the sector, with a greater reliance now placed on the products and services 2P offers
  • One of the most important factors that contributed to the Company’s growth is its deep knowledge and understanding of the culture and work environment of its clients in both the public and private sectors
  • With an overall increased spend on emerging technologies, 2P has a proven track record of capturing market growth and grow its market share.
Highly experience operator within the market

Proven capabilities to deliver diverse range of tailored solutions to its customers

  • Since its establishment, 2P has successfully evolved and adapted from its initial core offering by enhancing its digital capabilities and diversifying the set of products offered.
  • The company’s strong digital capabilities and scale offers customers comprehensive, tailored solutions by identifying market opportunities and quickly addressing the market gaps and needs.
  • The Company uses its detailed knowledge and deep understanding of the market to provide customized solutions to its clients that best meet their needs.
  • The Company’s deep understanding of the Saudi technology market and its developments over the years has enabled strong relationships with suppliers from foreign companies that wish to initiate partnerships with Saudi companies.
Robust backlog, giving greater visibility on future performance

Expanding backlog, providing high visibility on 2P’s performance over next 3 years

  • The company has a healthy and diversified backlog, which is growing steadily.
  • Over the last 3 years, 2P was able to expand its backlog by 2.6x times as a result of strong sales, favourable vendor and client terms and well-established relationships with both government and corporate clients.
Strong financial performance vs market

Strong financial performance with topline exceeding market trends

  • 2P has delivered strong financial results over the last 3 years achieving an impressive 48% CAGR from 2019 until 2021.
  • In line with the topline growth, the net profit has increased significantly over the last 3 years with net profit margin increasing by 4% during this period.
  • 2P enjoys strong returns with average high RoE, coupled with low debt balance over the last 3 years.
Experienced management team with expertise across relevant industries

Well-rounded executives, supported by a strong board of directors with diverse backgrounds

  • The Company’s management team consists of individuals with deep operational experience and executive capabilities gained through their work with the Company and within the sector.
  • The management team has an average experience of 17 years in the sector and a combined experience of 100 years.
  • Additionally, 2P adopts high corporate governance framework, having 4 independent board members.