Al-Baha trims loss to SAR 8 mln in 2022, SAR 3.1 mln in Q4

31/03/2023 Argaam Exclusive

Al-Baha Investment and Development Co. cut losses to SAR 8 million in 2022, from SAR 8.3 million in 2021.



Financials (M)

Item 2021 2022 Change‬
Revenues 11.41 11.52 1.0 %
Gross Income 6.37 5.82 (8.7 %)
Operating Income (7.47) (1.60) 78.5 %
Net Income (8.34) (7.98) 4.4 %
Average Shares 2,964.00 2,970.00 0.2 %
EPS (Halala) (0.28) (0.27) 4.6 %

The company recorded other revenues of SAR 3.14 million. Investment properties and good will decreased by SAR 3.46 million and SAR 951.349. Further, Al-Baha recorded financing costs of SAR 2.75 million and a Zakat provision of SAR 2.72 million. It incurred non-recurring subscription expenses of SAR 3.99 million.

 

The financial impact of the projects acquired by the group from the net proceeds of the subscription will appear during 2023.

 

The fourth-quarter net losses narrowed to SAR 3.1 million, from SAR 5.91 million in Q4 2021.

 

Net losses increased from SAR 600,000 in Q3 2022.



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 3.47 3.54 2.0 %
Gross Income 2.21 2.27 3.1 %
Operating Income (5.88) (2.61) 55.5 %
Net Income (5.91) (3.08) 47.9 %
Average Shares 2,964.00 2,970.00 0.2 %
EPS (Halala) (0.20) (0.10) 48.0 %

Shareholders’ equity, excluding minority interest, rose to SAR 211.38 million as of Dec. 31, 2022, from SAR 99.36 million a year earlier.

 

Accumulated losses stood at SAR 85.61 million by the end of 2022, accounting for 28.83% of the company’s capital.

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Share Price

Al-Baha Investment and Development Co.
0.52
0.04 8.33 %

Al-Baha Investment and Development Co. (ALBAHA)

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Financial Ratios
Current
Market Cap (M Riyal) 1,135.13
Enterprise Value (EV) (M) 1,141.76
Shares Outstanding ((M)) 2,182.95
EPS (Halala) (TTM) 0.16
Book Value (BV) ( Riyal) 0.10
Par Value ( Halala) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 5.24
Return on Average Assets (%) (TTM) 1.3
Return on Average Equity (%) (TTM) 1.7
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