Batic’s net profit slumps 73% in FY18 on G&As

Batic’s net profit slumps 73% in FY18 on G&As

28/03/2019 Argaam Exclusive

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Batic Investments and Logistics Co.’s net profit after zakat and tax plunged 73.01 percent year-on-year (YoY) to SAR 14.19 million for FY18, driven by higher costs of labor as well as increased general and administrative expenses (G&As).



Financials (M)

Item 2017 2018 Change‬
Revenues 486.00 507.63 4.4 %
Gross Income 111.32 77.56 (30.3 %)
Operating Income 65.73 27.09 (58.8 %)
Net Income 52.58 14.19 (73.0 %)
Average Shares 584.96 584.96 -
EPS (Riyals) 0.09 0.02 (73.0 %)

Q4 net profit after zakat and tax dropped 63.18 percent YoY to SAR 4.57 million, due to lower gross profit and higher operating costs.

 

On a sequential basis, Q4 net earnings rose 22.66 percent.



Current Quarter Comparison (M)

Compared With The
Item Q4 2017 Q4 2018 Change‬
Revenues 122.84 124.48 1.3 %
Gross Income 32.45 19.18 (40.9 %)
Operating Income 17.09 7.14 (58.2 %)
Net Income 12.42 4.57 (63.2 %)
Average Shares 584.96 584.96 -
EPS (Riyals) 0.02 0.01 (63.2 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2009 11.60 1.4 % 1.32 (19.8 %) 0.39 (62.3 %)
Q2 2009 12.63 0.6 % 1.65 (29.3 %) 0.74 (55.5 %)
Q3 2009 14.33 13.4 % 3.01 15.7 % 2.11 24.1 %
Q4 2009 13.38 10.5 % 1.61 14.1 % 0.59 47.3 %
Q1 2010 10.05 (13.3 %) 1.36 2.8 % 0.44 13.4 %
Q2 2010 12.11 (4.1 %) 1.23 (25.1 %) 0.24 (67.8 %)
Q3 2010 12.15 (15.2 %) 2.35 (21.7 %) 1.40 (33.7 %)
Q4 2010 10.89 (18.6 %) 0.28 (82.4 %) (0.78) (231.9 %)
Q1 2011 10.45 4.0 % 0.78 (42.4 %) (0.25) (157.1 %)
Q2 2011 10.16 (16.1 %) 0.56 (54.3 %) (1.05) (543.9 %)
Q3 2011 10.72 (11.7 %) 0.50 (78.8 %) (0.29) (120.4 %)
Q4 2011 10.90 0.1 % 0.39 38.2 % (3.43) (340.9 %)
Q1 2012 10.17 (2.7 %) 0.95 21.6 % (0.15) 41.7 %
Q2 2012 11.93 17.3 % 1.98 251.0 % 0.75 171.5 %
Q3 2012 11.45 6.8 % 1.40 180.0 % 0.39 236.1 %
Q4 2012 11.27 3.4 % 1.42 263.7 % (0.26) 92.4 %
Q1 2013 9.91 (2.6 %) 1.04 9.7 % (0.91) (515.6 %)
Q2 2013 10.62 (11.0 %) 0.73 (63.2 %) (1.26) (267.8 %)
Q3 2013 12.46 8.8 % 1.98 41.4 % (0.10) (124.5 %)
Q4 2013 13.11 16.4 % (0.23) (116.5 %) (5.24) (1,908.4 %)
Q1 2014 13.59 37.1 % 1.60 53.3 % (0.68) 25.1 %
Q2 2014 31.24 194.2 % 15.58 2039.4 % 13.08 1136.1 %
Q3 2014 52.48 321.3 % 29.40 1384.7 % 25.98 27449.5 %
Q4 2014 13.76 4.9 % 0.33 239.3 % (2.90) 44.6 %
Q1 2015 14.05 3.4 % 0.64 (60.2 %) (2.23) (229.4 %)
Q2 2015 116.03 271.4 % 38.83 149.3 % 31.83 143.4 %
Q3 2015 125.73 139.6 % 26.23 (10.8 %) 19.06 (26.7 %)
Q4 2015 118.31 760.0 % 21.28 6426.1 % 14.31 593.2 %
Q1 2016 112.82 703.2 % 22.43 3426.4 % 12.33 652.3 %
Q2 2016 109.49 (5.6 %) 18.52 (52.3 %) 8.71 (72.6 %)
Q3 2016 109.76 (12.7 %) 18.52 (29.4 %) 8.85 (53.6 %)
Q4 2016 110.03 (7.0 %) 17.82 (16.3 %) (2.35) (116.4 %)
Q1 2017 116.12 2.9 % 24.19 7.8 % 14.21 15.2 %
Q2 2017 121.08 10.6 % 26.85 45.0 % 17.53 101.2 %
Q3 2017 125.97 14.8 % 27.84 50.3 % 16.91 91.0 %
Q4 2017 122.84 11.6 % 32.45 82.2 % 17.09 828.7 %
Q1 2018 127.45 9.8 % 18.30 (24.3 %) 6.21 (56.3 %)
Q2 2018 128.12 5.8 % 19.83 (26.2 %) 5.82 (66.8 %)
Q3 2018 127.58 1.3 % 20.26 (27.2 %) 7.92 (53.1 %)
Q4 2018 124.48 1.3 % 19.18 (40.9 %) 7.14 (58.2 %)
2018 507.63 4.4 % 77.56 (30.3 %) 27.09 (58.8 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2009 0.35 (73.0 %) 0.00 - 0.35 0.00
Q2 2009 1.46 (77.4 %) 0.00 - 1.46 0.00
Q3 2009 3.23 41.7 % 0.01 - 3.23 0.01
Q4 2009 0.16 (86.0 %) 0.00 - 0.16 0.00
Q1 2010 (8.93) (2666.4 %) (0.02) - (8.93) (0.02)
Q2 2010 0.96 (34.3 %) 0.00 - 0.96 0.00
Q3 2010 2.01 (37.6 %) 0.00 - 2.01 0.00
Q4 2010 (1.08) (789.2 %) 0.00 - (1.08) 0.00
Q1 2011 (118.81) (1,230.3 %) (0.20) (117.60) (1.21) 0.00
Q2 2011 3.14 226.6 % 0.01 2.56 0.58 0.00
Q3 2011 (0.23) (111.6 %) 0.00 0.02 (0.25) 0.00
Q4 2011 (3.78) (249.0 %) (0.01) (0.08) (3.69) (0.01)
Q1 2012 (0.24) 99.8 % 0.00 - (0.24) 0.00
Q2 2012 1.50 (52.2 %) 0.00 - 1.50 0.00
Q3 2012 1.18 605.6 % 0.00 - 1.18 0.00
Q4 2012 (0.18) 95.3 % 0.00 - (0.18) 0.00
Q1 2013 0.34 245.3 % 0.00 - 0.34 0.00
Q2 2013 4.68 212.1 % 0.01 - 4.68 0.01
Q3 2013 1.22 3.2 % 0.00 - 1.22 0.00
Q4 2013 81.36 46325.0 % 0.14 94.30 (12.94) (0.02)
Q1 2014 1.37 300.6 % 0.00 - 1.37 0.00
Q2 2014 12.97 176.9 % 0.02 - 12.97 0.02
Q3 2014 32.78 2595.5 % 0.06 - 32.78 0.06
Q4 2014 (3.11) (103.8 %) (0.01) 15.79 (18.90) (0.03)
Q1 2015 0.40 (70.7 %) 0.00 - 0.40 0.00
Q2 2015 20.29 56.4 % 0.03 (16.01) 36.30 0.06
Q3 2015 18.01 (45.0 %) 0.03 - 18.01 0.03
Q4 2015 12.61 505.6 % 0.02 4.78 7.84 0.01
Q1 2016 15.33 3704.0 % 0.03 4.90 10.43 0.02
Q2 2016 10.73 (47.1 %) 0.02 3.60 7.13 0.01
Q3 2016 7.33 (59.3 %) 0.01 - 7.33 0.01
Q4 2016 (16.56) (231.3 %) (0.03) (12.87) (3.69) (0.01)
Q1 2017 9.29 (39.4 %) 0.02 (1.79) 11.08 0.02
Q2 2017 16.05 49.6 % 0.03 - 16.05 0.03
Q3 2017 14.82 102.1 % 0.03 - 14.82 0.03
Q4 2017 12.42 175.0 % 0.02 0.18 12.24 0.02
Q1 2018 3.95 (57.5 %) 0.01 - 3.95 0.01
Q2 2018 1.94 (87.9 %) 0.00 - 1.94 0.00
Q3 2018 3.73 (74.8 %) 0.01 - 3.73 0.01
Q4 2018 4.57 (63.2 %) 0.01 (1.05) 5.62 0.01
2018 14.19 (73.0 %) 0.02 (1.05) 15.24 0.03

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 15.66 % 29.78 % 20.90 %
Q2 2009 14.24 % 28.98 % 10.63 %
Q3 2009 14.57 % 29.57 % 12.15 %
Q4 2009 14.60 % 29.70 % 10.00 %
Q1 2010 15.12 % 30.57 % (8.10 %)
Q2 2010 14.45 % 30.89 % (9.20 %)
Q3 2010 13.75 % 31.23 % (12.16 %)
Q4 2010 11.57 % 30.35 % (15.57 %)
Q1 2011 10.20 % 28.99 % 1.50 %
Q2 2011 9.12 % 24.90 % 0.70 %
Q3 2011 5.04 % 19.27 % (4.64 %)
Q4 2011 5.29 % 11.00 % (10.82 %)
Q1 2012 5.73 % 9.78 % (8.57 %)
Q2 2012 8.73 % 13.85 % (6.12 %)
Q3 2012 10.61 % 16.21 % (2.81 %)
Q4 2012 12.83 % 23.76 % 5.06 %
Q1 2013 13.11 % 21.51 % 6.39 %
Q2 2013 10.62 % 16.57 % 13.94 %
Q3 2013 11.69 % 14.83 % 13.71 %
Q4 2013 7.63 % 4.43 % (14.54 %)
Q1 2014 8.18 % 6.48 % (11.39 %)
Q2 2014 26.88 % 26.52 % 3.72 %
Q3 2014 41.97 % 41.35 % 30.95 %
Q4 2014 42.23 % 43.58 % 25.41 %
Q1 2015 41.19 % 42.65 % 24.44 %
Q2 2015 35.24 % 35.90 % 25.76 %
Q3 2015 24.49 % 25.51 % 13.29 %
Q4 2015 23.25 % 24.39 % 16.72 %
Q1 2016 23.00 % 23.01 % 15.35 %
Q2 2016 18.97 % 18.22 % 9.31 %
Q3 2016 17.93 % 16.18 % 7.27 %
Q4 2016 17.48 % 12.29 % 4.79 %
Q1 2017 17.75 % 12.55 % 4.90 %
Q2 2017 19.12 % 14.19 % 6.73 %
Q3 2017 20.43 % 15.48 % 8.08 %
Q4 2017 22.91 % 19.15 % 11.15 %
Q1 2018 21.20 % 17.30 % 9.46 %
Q2 2018 19.51 % 14.82 % 6.53 %
Q3 2018 17.95 % 13.08 % 4.32 %
Q4 2018 15.28 % 11.13 % 3.00 %
2018 15.28 % 11.13 % 3.00 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2009 584.96 0.02 0.02 0.28
Q2 2009 584.96 0.01 0.01 0.29
Q3 2009 584.96 0.01 0.01 0.29
Q4 2009 584.96 0.01 0.01 0.29
Q1 2010 584.96 (0.01) (0.01) 0.28
Q2 2010 584.96 (0.01) (0.01) 0.27
Q3 2010 584.96 (0.01) (0.01) 0.28
Q4 2010 584.96 (0.01) (0.01) 0.28
Q1 2011 584.96 (0.20) 0.00 0.25
Q2 2011 584.96 (0.20) 0.00 0.25
Q3 2011 584.96 (0.20) 0.00 0.25
Q4 2011 584.96 (0.20) (0.01) 0.25
Q1 2012 584.96 0.00 (0.01) 0.28
Q2 2012 584.96 0.00 0.00 0.26
Q3 2012 584.96 0.00 0.00 0.27
Q4 2012 584.96 0.00 0.00 0.27
Q1 2013 584.96 0.00 0.00 0.28
Q2 2013 584.96 0.01 0.01 0.28
Q3 2013 584.96 0.01 0.01 0.29
Q4 2013 584.96 0.15 (0.01) 0.41
Q1 2014 584.96 0.15 (0.01) 0.42
Q2 2014 584.96 0.17 0.00 0.41
Q3 2014 584.96 0.22 0.06 0.46
Q4 2014 584.96 0.08 0.05 0.42
Q1 2015 584.96 0.07 0.05 0.42
Q2 2015 584.96 0.09 0.09 0.45
Q3 2015 584.96 0.06 0.06 0.46
Q4 2015 584.96 0.09 0.11 0.48
Q1 2016 584.96 0.11 0.12 0.50
Q2 2016 584.96 0.10 0.07 0.52
Q3 2016 584.96 0.08 0.06 0.52
Q4 2016 584.96 0.03 0.04 0.52
Q1 2017 584.96 0.02 0.04 0.54
Q2 2017 584.96 0.03 0.05 0.56
Q3 2017 584.96 0.04 0.07 0.58
Q4 2017 584.96 0.09 0.09 0.60
Q1 2018 584.96 0.08 0.08 0.61
Q2 2018 584.96 0.06 0.06 0.61
Q3 2018 584.96 0.04 0.04 0.62
Q4 2018 584.96 0.02 0.03 0.63

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2009 29.13 29.13 1.81
Q2 2009 99.32 99.32 3.07
Q3 2009 79.60 79.60 2.87
Q4 2009 95.21 95.21 2.93
Q1 2010 NEG NEG 2.84
Q2 2010 NEG NEG 2.05
Q3 2010 NEG NEG 1.92
Q4 2010 NEG NEG 2.00
Q1 2011 NEG More than 100 2.12
Q2 2011 NEG More than 100 2.25
Q3 2011 NEG NEG 2.80
Q4 2011 NEG NEG 6.22
Q1 2012 NEG NEG 7.28
Q2 2012 NEG NEG 7.48
Q3 2012 NEG NEG 9.77
Q4 2012 More than 100 More than 100 12.15
Q1 2013 More than 100 More than 100 10.45
Q2 2013 More than 100 More than 100 8.98
Q3 2013 More than 100 More than 100 5.47
Q4 2013 9.02 NEG 3.32
Q1 2014 11.34 NEG 4.10
Q2 2014 10.07 More than 100 4.10
Q3 2014 8.89 33.42 4.21
Q4 2014 17.29 26.96 3.09
Q1 2015 21.83 34.47 3.80
Q2 2015 32.11 31.97 6.19
Q3 2015 34.52 34.30 4.55
Q4 2015 31.17 25.57 5.72
Q1 2016 17.15 15.65 3.90
Q2 2016 20.65 26.96 3.86
Q3 2016 20.91 29.39 3.15
Q4 2016 More than 100 85.16 5.88
Q1 2017 More than 100 77.64 5.41
Q2 2017 More than 100 52.41 4.95
Q3 2017 79.70 49.16 5.52
Q4 2017 32.43 31.47 4.83
Q1 2018 36.59 36.73 4.84
Q2 2018 47.84 48.10 4.41
Q3 2018 61.64 62.14 3.75
Q4 2018 More than 100 94.07 3.86

Business Segments (Million)

Compared With The
Period Security guard sector Transport sector ATM feeding sector Facility Management Sector Insured money transfer sector Real Estate department Counting and postal sector
Q1 2016 34.70 15.27 40.71 - 18.94 - 3.20
Q2 2016 30.97 19.52 39.87 - 16.99 - 2.15
Q3 2016 30.88 15.61 42.31 - 18.77 - 2.20
Q4 2016 29.85 12.83 46.67 - 18.47 - 2.21
Q1 2017 32.94 13.37 47.70 - 19.14 - 2.97
Q2 2017 33.27 14.66 49.49 - 20.50 - 3.16
Q3 2017 38.44 13.58 50.65 0.47 19.80 - 3.02
Q4 2017 40.07 13.57 47.96 0.47 17.80 - 2.97
Q1 2018 48.31 12.38 47.36 0.38 19.01 - -
Q2 2018 49.30 13.62 42.31 0.41 22.48 - -
Q3 2018 52.07 15.53 40.78 0.76 18.44 - -
Q4 2018 53.79 15.70 37.60 0.68 16.71 - -


Financial Ratios
Current
Market Cap (M Riyal) 2,154.00
Enterprise Value (EV) (M) 2,223.98
Shares Outstanding ((M)) 600.00
EPS ( Riyal) (TTM) (0.01)
Book Value (BV) ( Riyal) 0.76
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 4.72
Return on Average Assets (%) (TTM) (0.52 )
Return on Average Equity (%) (TTM) (1.69 )
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Share Price

Batic Investments and Logistics Co.
3.59
(0.12) (3.23 %)

Batic Investments and Logistics Co. (BATIC)

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