Batic posts SAR 536,000 profit in H1 2023, SAR 480,000 in Q2

Batic posts SAR 536,000 profit in H1 2023, SAR 480,000 in Q2

03/08/2023 Argaam Exclusive

View other reports

Batic Investment and Logistics Co. swung to a net profit of SAR 536,000 in H1 2023 from a net loss of SAR 11.9 million in H1 2022.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 209.57 231.57 10.5 %
Gross Income 19.64 34.16 73.9 %
Operating Income (7.14) 5.58 178.1 %
Net Income (11.88) 0.54 104.5 %
Average Shares 600.00 600.00 -
EPS (Riyals) (0.02) 0.00 104.5 %

Gross profit jumped by 74% year-on-year (YoY) to SAR 34.2 million in H1 2023, mainly due to a 10% YoY increase in operating revenues. In addition, the percentage of the cost of goods sold reached 85% compared to 91% in H1 2022.

 

The current period includes SAR 1.8 million revenue from the sale of investments.

 

Unrealized gains from investments at fair value through profit or loss increased to SAR 4 million from SAR 2 million in H1 2022. This came despite a 63% increase YoY in financing costs. Provisions for expected credit losses also expanded by 59% YoY.

 

In Q2 2023, the company turned a profit of SAR 480,000 against a net loss of SAR 12.72 million in the prior-year period. Batic’s gross profit surged 118% YoY to SAR 18.4 million. General and administrative expenses decreased by 9% YoY. The company reported SAR 2.7 million in unrealized gains from investments at fair value through profit or loss against unrealized losses of SAR 2.4 million.

 

The net earnings skyrocketed from SAR 60,000 in Q1 2023.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 100.27 117.37 17.1 %
Gross Income 8.44 18.38 117.8 %
Operating Income (6.44) 3.56 155.3 %
Net Income (12.72) 0.48 103.8 %
Average Shares 600.00 600.00 -
EPS (Riyals) (0.02) 0.00 103.8 %

Shareholders’ equity, after minority interest, reached SAR 462.47 million by the end of the six-month period, compared to SAR 487.59 million a year earlier.



Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2014 13.59 37.1 % 1.60 53.3 % 1.37 300.6 % 0.00
Q2 2014 31.24 194.2 % 15.58 2039.4 % 12.97 176.9 % 0.02
Q3 2014 52.48 321.3 % 29.40 1384.7 % 32.78 2595.5 % 0.06
Q4 2014 13.76 4.9 % 0.33 239.3 % (3.11) (103.8 %) (0.01)
Q1 2015 14.05 3.4 % 0.64 (60.2 %) 0.40 (70.7 %) 0.00
Q2 2015 116.03 271.4 % 38.83 149.3 % 20.29 56.4 % 0.03
Q3 2015 125.73 139.6 % 26.23 (10.8 %) 18.01 (45.0 %) 0.03
Q4 2015 118.31 760.0 % 21.28 6426.1 % 12.61 505.6 % 0.02
Q1 2016 112.82 703.2 % 22.43 3426.4 % 15.33 3704.0 % 0.03
Q2 2016 109.49 (5.6 %) 18.52 (52.3 %) 10.73 (47.1 %) 0.02
Q3 2016 109.76 (12.7 %) 18.52 (29.4 %) 7.33 (59.3 %) 0.01
Q4 2016 110.03 (7.0 %) 17.82 (16.3 %) (16.56) (231.3 %) (0.03)
Q1 2017 116.12 2.9 % 24.19 7.8 % 9.29 (39.4 %) 0.02
Q2 2017 121.08 10.6 % 26.85 45.0 % 16.05 49.6 % 0.03
Q3 2017 125.97 14.8 % 27.84 50.3 % 14.82 102.1 % 0.03
Q4 2017 122.84 11.6 % 32.45 82.2 % 12.42 175.0 % 0.02
Q1 2018 127.45 9.8 % 18.30 (24.3 %) 3.95 (57.5 %) 0.01
Q2 2018 128.12 5.8 % 19.83 (26.2 %) 1.94 (87.9 %) 0.00
Q3 2018 127.58 1.3 % 20.26 (27.2 %) 3.73 (74.8 %) 0.01
Q4 2018 124.48 1.3 % 19.18 (40.9 %) 4.57 (63.2 %) 0.01
Q1 2019 114.09 (10.5 %) 17.23 (5.8 %) 1.94 (50.9 %) 0.00
Q2 2019 117.78 (8.1 %) 16.15 (18.5 %) 1.80 (7.3 %) 0.00
Q3 2019 115.72 (9.3 %) 14.65 (27.7 %) 2.07 (44.6 %) 0.00
Q4 2019 116.36 (6.5 %) 12.44 (35.2 %) 1.10 (75.9 %) 0.00
Q1 2020 105.67 (7.4 %) 14.36 (16.7 %) (3.11) (260.7 %) (0.01)
Q2 2020 98.05 (16.8 %) 4.97 (69.2 %) (7.20) (500.6 %) (0.01)
Q3 2020 190.75 64.8 % 31.04 112.0 % 9.16 343.8 % 0.02
Q4 2020 122.50 5.3 % 10.02 (19.5 %) (10.47) (1051.0 %) (0.02)
Q1 2021 123.64 17.0 % 9.40 (34.6 %) (3.23) (3.6 %) (0.01)
Q2 2021 113.09 15.3 % 10.23 105.7 % 3.36 146.6 % 0.01
Q3 2021 119.18 (37.5 %) 12.82 (58.7 %) 0.47 (94.9 %) 0.00
Q4 2021 118.92 (2.9 %) 15.96 59.3 % (10.25) 2.1 % (0.02)
Q1 2022 109.66 (11.3 %) 11.61 23.5 % 0.84 126.1 % 0.00
Q2 2022 100.27 (11.3 %) 8.44 (17.5 %) (12.72) (479.1 %) (0.02)
Q3 2022 104.69 (12.2 %) 7.38 (42.5 %) (12.79) (2827.5 %) (0.02)
Q4 2022 113.23 (4.8 %) 16.13 1.1 % (6.16) 39.9 % (0.01)
Q1 2023 114.20 4.1 % 15.78 36.0 % 0.06 (93.4 %) 0.00
Q2 2023 117.37 17.1 % 18.38 117.8 % 0.48 103.8 % 0.00

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
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 %
Q1 2019 15.48 % 11.13 % 2.68 %
Q2 2019 15.05 % 11.31 % 2.70 %
Q3 2019 14.24 % 11.10 % 2.42 %
Q4 2019 13.03 % 10.12 % 1.49 %
Q1 2020 12.64 % 8.71 % 0.41 %
Q2 2020 10.65 % 6.30 % (1.64 %)
Q3 2020 12.30 % 8.08 % (0.01 %)
Q4 2020 11.68 % 5.98 % (2.25 %)
Q1 2021 10.36 % 6.22 % (2.19 %)
Q2 2021 11.03 % 8.20 % (0.21 %)
Q3 2021 8.88 % 6.75 % (2.06 %)
Q4 2021 10.20 % 8.88 % (2.03 %)
Q1 2022 10.98 % 9.93 % (1.21 %)
Q2 2022 10.90 % 8.88 % (4.84 %)
Q3 2022 10.01 % 6.94 % (8.06 %)
Q4 2022 10.18 % 7.62 % (7.90 %)
Q1 2023 11.04 % 8.88 % (8.41 %)
Q2 2023 12.83 % 11.35 % (5.16 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
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
Q1 2019 584.96 0.02 0.02 0.64
Q2 2019 584.96 0.02 0.02 0.64
Q3 2019 584.96 0.02 0.02 0.64
Q4 2019 584.96 0.01 0.01 0.64
Q1 2020 584.96 0.00 0.00 0.63
Q2 2020 584.96 (0.01) (0.01) 0.62
Q3 2020 584.96 0.00 0.00 0.64
Q4 2020 584.96 (0.02) (0.02) 0.61
Q1 2021 584.96 (0.02) (0.02) 0.61
Q2 2021 584.96 0.00 0.00 0.61
Q3 2021 584.96 (0.02) (0.02) 0.61
Q4 2021 584.96 (0.02) (0.02) 0.39
Q1 2022 600.00 (0.01) (0.01) 0.87
Q2 2022 600.00 (0.04) (0.04) 0.81
Q3 2022 600.00 (0.06) (0.06) 0.79
Q4 2022 600.00 (0.05) (0.06) 0.78
Q1 2023 600.00 (0.05) (0.06) 0.77
Q2 2023 600.00 (0.03) (0.04) 0.77

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
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
Q1 2019 More than 100 More than 100 3.84
Q2 2019 More than 100 97.87 3.42
Q3 2019 More than 100 More than 100 3.26
Q4 2019 More than 100 More than 100 2.94
Q1 2020 More than 100 More than 100 2.18
Q2 2020 NEG NEG 2.39
Q3 2020 NEG NEG 3.31
Q4 2020 NEG NEG 3.66
Q1 2021 NEG NEG 4.06
Q2 2021 NEG NEG 4.26
Q3 2021 NEG NEG 4.65
Q4 2021 NEG NEG 6.52
Q1 2022 NEG NEG 2.62
Q2 2022 NEG NEG 3.03
Q3 2022 NEG NEG 3.06
Q4 2022 NEG NEG 3.05
Q1 2023 NEG NEG 3.08
Q2 2023 NEG NEG 3.19

Business Segments (Million)

Compared With The
Period Security guard sector Transport sector ATM feeding sector Facility Management Sector Smart Parks Insured money transfer sector Real Estate department Supply of Medical Equipment communication and information technology Home Medical Services and Physiotherapy Counting and postal sector Other activities
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 - - - - - -
Q1 2019 50.00 14.89 32.43 0.64 - 15.76 0.36 - - - - -
Q2 2019 51.71 17.47 30.76 0.89 - 16.54 0.39 - - - - -
Q3 2019 50.16 17.28 30.10 1.55 - 16.25 0.41 - - - - -
Q4 2019 57.24 15.80 26.59 0.76 - 15.54 2.30 - - - - (1.87)
Q1 2020 42.66 15.45 32.27 1.57 - 14.19 0.88 - - - - (1.34)
Q2 2020 35.70 17.07 32.49 (0.49) - 11.89 0.01 - - - - -
Q3 2020 41.58 16.63 31.44 1.12 - 13.80 0.42 85.76 - - - -
Q4 2020 40.31 16.83 33.24 5.16 19.88 14.60 2.39 (3.40) - - - (6.52)
Q1 2021 41.24 17.28 33.65 3.44 15.66 14.01 0.98 - - - - (2.62)
Q2 2021 39.50 18.23 32.04 4.39 6.30 14.61 0.98 - - - - (3.63)
Q3 2021 39.73 16.18 32.44 5.81 11.03 15.65 0.98 - - 0.46 - (3.09)
Q4 2021 38.59 16.41 32.09 9.17 8.13 14.26 1.01 - - 0.41 - (1.15)
Q1 2022 32.92 19.33 27.36 8.88 11.60 11.40 0.97 - - 0.43 - (3.23)
Q2 2022 23.40 23.28 20.42 10.16 12.84 9.99 0.97 - - 0.28 - (1.43)
Q3 2022 25.36 22.73 18.40 11.03 16.07 11.69 0.97 - - 0.21 - (1.78)
Q4 2022 29.35 23.92 19.17 11.15 15.89 11.95 0.97 - 1.22 - - (0.39)
Q1 2023 33.45 25.04 19.61 11.78 13.52 11.78 1.03 - - - - (2.01)
Q2 2023 29.76 27.73 20.37 11.39 16.30 12.68 1.37 - - - - (2.24)

Current
Market Cap (M Riyal) 2,088.00
Enterprise Value (EV) (M) 2,170.37
Shares Outstanding ((M)) 600.00
EPS ( Riyal) (TTM) (0.02)
Book Value (BV) ( Riyal) 0.76
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 4.56
Return on Average Assets (%) (TTM) (0.85 )
Return on Average Equity (%) (TTM) (2.69 )

Share Price

Batic Investments and Logistics Co. (BATIC)


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.