Batic Investments’ net profit slumps 76% in 9M 2018

08/11/2018 Argaam Exclusive

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Share Price

Batic Investments and Logistics Co. (BATIC)

Batic Investments and Logistics Co. posted a net profit of SAR 9.61 million, declining 76.05 percent year-on-year (YoY) in the first nine months of 2018, attributed to higher operating as well as labour costs.

Financials (M)

Item	9m 2017	9m 2018	Change‬
Revenues	363.17	383.15	5.5 %
Gross Income	78.87	58.38	(26.0 %)
Operating Income	48.64	19.95	(59.0 %)
Net Income	40.16	9.62	(76.1 %)
Average Shares	584.96	584.96	-
EPS (Riyals)	0.07	0.02	(76.1 %)

The third-quarter net profit dropped 74.8 percent YoY to SAR 3.73 million, on lower gross profit, higher operating as well as labour costs. Also, general and administrative expenses (G&As) increased to SAR 1.4 million in the quarter.

When compared to the previous quarter, net profit in Q3 jumped by 92.4 percent.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2017	Q3 2018	Change‬
Revenues	125.97	127.58	1.3 %
Gross Income	27.84	20.26	(27.2 %)
Operating Income	16.91	7.92	(53.1 %)
Net Income	14.82	3.73	(74.8 %)
Average Shares	584.96	584.96	-
EPS (Riyals)	0.03	0.01	(74.8 %)

Item	Q2 2018	Q3 2018	Change‬
Revenues	128.12	127.58	(0.4 %)
Gross Income	19.83	20.26	2.2 %
Operating Income	5.82	7.92	36.3 %
Net Income	1.94	3.73	92.4 %
Average Shares	584.96	584.96	-
EPS (Riyals)	0.00	0.01	92.4 %

Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
Q1 2009	11.60	1.4 %	1.32	(19.8 %)	0.35	(73.0 %)	0.00
Q2 2009	12.63	0.6 %	1.65	(29.3 %)	1.46	(77.4 %)	0.00
Q3 2009	14.33	13.4 %	3.01	15.7 %	3.23	41.7 %	0.01
Q4 2009	13.38	10.5 %	1.61	14.1 %	0.16	(86.0 %)	0.00
2009	51.94	6.6 %	7.58	(5.0 %)	5.20	(53.4 %)	0.01
Q1 2010	10.05	(13.3 %)	1.36	2.8 %	(8.93)	(2666.4 %)	(0.02)
Q2 2010	12.11	(4.1 %)	1.23	(25.1 %)	0.96	(34.3 %)	0.00
Q3 2010	12.15	(15.2 %)	2.35	(21.7 %)	2.01	(37.6 %)	0.00
Q4 2010	10.89	(18.6 %)	0.28	(82.4 %)	(1.08)	(789.2 %)	0.00
2010	45.19	(13.0 %)	5.23	(31.1 %)	(7.04)	(235.5 %)	(0.01)
Q1 2011	10.45	4.0 %	0.78	(42.4 %)	(118.81)	(1,230.3 %)	(0.20)
Q2 2011	10.16	(16.1 %)	0.56	(54.3 %)	3.14	226.6 %	0.01
Q3 2011	10.72	(11.7 %)	0.50	(78.8 %)	(0.23)	(111.6 %)	0.00
Q4 2011	10.90	0.1 %	0.39	38.2 %	(3.78)	(249.0 %)	(0.01)
2011	42.24	(6.5 %)	2.24	(57.2 %)	(119.68)	(1,600.4 %)	(0.20)
Q1 2012	10.17	(2.7 %)	0.95	21.6 %	(0.24)	99.8 %	0.00
Q2 2012	11.93	17.3 %	1.98	251.0 %	1.50	(52.2 %)	0.00
Q3 2012	11.45	6.8 %	1.40	180.0 %	1.18	605.6 %	0.00
Q4 2012	11.27	3.4 %	1.42	263.7 %	(0.18)	95.3 %	0.00
2012	44.82	6.1 %	5.75	157.1 %	2.27	101.9 %	0.00
Q1 2013	9.91	(2.6 %)	1.04	9.7 %	0.34	245.3 %	0.00
Q2 2013	10.62	(11.0 %)	0.73	(63.2 %)	4.68	212.1 %	0.01
Q3 2013	12.46	8.8 %	1.98	41.4 %	1.22	3.2 %	0.00
Q4 2013	13.11	16.4 %	(0.23)	(116.5 %)	81.36	46325.0 %	0.14
2013	46.10	2.9 %	3.52	(38.8 %)	87.60	3764.1 %	0.15
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)
2014	111.06	140.9 %	46.90	1233.5 %	44.01	(49.8 %)	0.08
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
2015	374.12	236.8 %	86.97	85.4 %	51.31	16.6 %	0.09
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)
2016	442.10	18.2 %	77.28	(11.1 %)	16.82	(67.2 %)	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
2017	486.00	9.9 %	111.32	44.0 %	52.58	212.5 %	0.09
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

Period	Revenues	Change	Gross Income	Change	Net Income	Change	EPS(Riyal)
2008	48.74	4.8 %	7.98	7.4 %	11.16	(17.1 %)	0.02
2009	51.94	6.6 %	7.58	(5.0 %)	5.20	(53.4 %)	0.01
2010	45.19	(13.0 %)	5.23	(31.1 %)	(7.04)	(235.5 %)	(0.01)
2011	42.24	(6.5 %)	2.24	(57.2 %)	(119.68)	(1,600.4 %)	(0.20)
2012	44.82	6.1 %	5.75	157.1 %	2.27	101.9 %	0.00
2013	46.10	2.9 %	3.52	(38.8 %)	87.60	3764.1 %	0.15
2014	111.06	140.9 %	46.90	1233.5 %	44.01	(49.8 %)	0.08
2015	374.12	236.8 %	86.97	85.4 %	51.31	16.6 %	0.09
2016	442.10	18.2 %	77.28	(11.1 %)	16.82	(67.2 %)	0.03
2017	486.00	9.9 %	111.32	44.0 %	52.58	212.5 %	0.09

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 %
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 %)
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 %)
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 %
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 %)
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 %
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 %
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 %
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 %
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 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2008	16.38 %	30.04 %	22.89 %
2009	14.60 %	29.70 %	10.00 %
2010	11.57 %	30.35 %	(15.57 %)
2011	5.29 %	11.00 %	(10.82 %)
2012	12.83 %	23.76 %	5.06 %
2013	7.63 %	4.43 %	(14.54 %)
2014	42.23 %	43.58 %	25.41 %
2015	23.25 %	24.39 %	16.72 %
2016	17.48 %	12.29 %	4.79 %
2017	22.91 %	19.15 %	11.15 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2009	11.38 %	28.65 %	3.00 %
Q2 2009	13.03 %	28.86 %	11.58 %
Q3 2009	20.97 %	34.89 %	22.51 %
Q4 2009	12.04 %	25.86 %	1.17 %
Q1 2010	13.51 %	32.81 %	(88.88 %)
Q2 2010	10.18 %	30.13 %	7.94 %
Q3 2010	19.38 %	36.93 %	16.58 %
Q4 2010	2.60 %	20.99 %	(9.94 %)
Q1 2011	7.48 %	26.77 %	(11.57 %)
Q2 2011	5.54 %	12.81 %	5.74 %
Q3 2011	4.66 %	16.34 %	(2.33 %)
Q4 2011	3.59 %	(11.06 %)	(33.88 %)
Q1 2012	9.35 %	22.15 %	(2.32 %)
Q2 2012	16.57 %	27.29 %	12.59 %
Q3 2012	12.22 %	25.36 %	10.28 %
Q4 2012	12.62 %	19.85 %	(1.56 %)
Q1 2013	10.52 %	12.00 %	3.46 %
Q2 2013	6.86 %	7.86 %	44.12 %
Q3 2013	15.89 %	18.49 %	9.76 %
Q4 2013	(1.78 %)	(17.45 %)	(98.73 %)
Q1 2014	11.77 %	17.48 %	10.11 %
Q2 2014	49.86 %	52.10 %	41.53 %
Q3 2014	56.01 %	55.81 %	62.45 %
Q4 2014	2.37 %	3.31 %	(137.36 %)
Q1 2015	4.53 %	10.96 %	2.87 %
Q2 2015	33.46 %	33.78 %	31.28 %
Q3 2015	20.86 %	21.92 %	14.33 %
Q4 2015	17.98 %	19.41 %	6.62 %
Q1 2016	19.88 %	16.93 %	9.24 %
Q2 2016	16.92 %	14.02 %	6.51 %
Q3 2016	16.87 %	14.09 %	6.68 %
Q4 2016	16.19 %	4.03 %	(3.36 %)
Q1 2017	20.83 %	17.78 %	9.54 %
Q2 2017	22.17 %	20.06 %	13.26 %
Q3 2017	22.10 %	18.95 %	11.76 %
Q4 2017	26.42 %	19.74 %	9.96 %
Q1 2018	14.36 %	10.71 %	3.10 %
Q2 2018	15.47 %	10.12 %	1.51 %
Q3 2018	15.88 %	12.02 %	2.92 %

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

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2008	584.96	0.02	0.02	0.28
2009	584.96	0.01	0.01	0.29
2010	584.96	(0.01)	(0.01)	0.28
2011	584.96	(0.20)	(0.01)	0.25
2012	584.96	0.00	0.00	0.27
2013	584.96	0.15	(0.01)	0.41
2014	584.96	0.08	0.05	0.42
2015	584.96	0.09	0.11	0.48
2016	584.96	0.03	0.04	0.52
2017	584.96	0.09	0.09	0.60

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

Period	P/E	Adjusted P/E	Price/book
2008	25.25	25.25	1.70
2009	95.21	95.21	2.93
2010	NEG	NEG	2.00
2011	NEG	NEG	6.22
2012	More than 100	More than 100	12.15
2013	9.02	NEG	3.32
2014	17.29	26.96	3.09
2015	31.17	25.57	5.72
2016	More than 100	85.17	5.88
2017	32.43	31.47	4.83

Business Segments (Million)

Compared With The

Period	Security guard sector	Transport sector	ATM feeding sector	Insured money transfer sector	Maintenance and operation 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	19.80	0.47	-	3.02
Q4 2017	40.07	13.57	47.96	17.80	0.47	-	2.97
Q1 2018	48.31	12.38	47.36	19.01	0.38	-	-
Q2 2018	49.30	13.62	42.31	22.48	0.41	-	-
Q3 2018	52.07	15.53	40.78	18.44	0.76	-	-

Period	Security guard sector	Transport sector	ATM feeding sector	Insured money transfer sector	Maintenance and operation sector	Real Estate department	Counting and postal sector
2015	110.22	63.43	105.44	57.24	-	28.28	9.52
2016	126.39	63.24	169.56	73.16	-	-	9.75
2017	144.71	55.19	195.79	77.24	0.95	-	12.13

Financial Ratios

	Current
Market Cap (M Riyal)	1,986.00
Enterprise Value (EV) (M)	2,068.37
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	4.34
Return on Average Assets (%) (TTM)	(0.85 )
Return on Average Equity (%) (TTM)	(2.69 )

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Batic Investments’ net profit slumps 76% in 9M 2018

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Share Price

Batic Investments and Logistics Co. (BATIC)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2018 Q3

Financial Ratios

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Batic Investments’ net profit slumps 76% in 9M 2018

View other reports

Share Price

Batic Investments and Logistics Co. (BATIC)

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profitability

Profitability

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2018

Revenue by Business Segment (Latest) 2018 Q3

Financial Ratios

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Business Segments (Million)