Al-Baha widens H1 2022 net loss to SAR 4.3 mln; Q2 at SAR 195,000

01/08/2022 Argaam Exclusive

Al-Baha Investment and Development Co. deepened net losses after Zakat and tax to SAR 4.3 million in H1 2022, from SAR 1.6 million a year earlier, on recording non-recurring expenses related to the company's capital increase file expenses, in addition to an increase in financing costs.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 5.35 5.17 (3.2 %)
Gross Income 2.90 2.25 (22.4 %)
Operating Income (1.49) 0.81 154.4 %
Net Income (1.62) (4.29) (165.8 %)
Average Shares 2,964.00 2,970.00 0.2 %
EPS (Halala) (0.05) (0.14) (165.3 %)

In Q2 2022, Al-Baha narrowed its net loss to SAR 195,000, as no expected credit losses were recorded during the current quarter compared to Q2 2021. 

 

Compared to the previous quarter, the company narrowed its net losses by 95.2% from SAR 4.06 million, as no underwriting expenses were recorded during the second quarter.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 2.81 2.62 (6.6 %)
Gross Income 1.58 1.17 (26.1 %)
Operating Income (0.93) 0.41 143.7 %
Net Income (0.66) (0.20) 70.6 %
Average Shares 2,964.00 2,970.00 0.2 %
EPS (Halala) (0.02) (0.01) 70.6 %

Shareholders’ equity, after minority interest, rose to SAR 215.063 million as of June 30, 2022, from SAR 106.085 million in the year-earlier period.

 

Accumulated losses stood at SAR 81.936 million by the end of H1 2022, accounting for 27.59% of the company’s capital.

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Share Price

Al-Baha Investment and Development Co.
0.33
0.03 10.00 %

Al-Baha Investment and Development Co. (ALBAHA)

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Financial Ratios
Current
Market Cap (M Riyal) 980.10
Enterprise Value (EV) (M) 986.73
Shares Outstanding ((M)) 2,970.00
EPS (Halala) (TTM) 0.12
Book Value (BV) ( Riyal) 0.07
Par Value ( Halala) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/book 4.52
Return on Average Assets (%) (TTM) 1.3
Return on Average Equity (%) (TTM) 1.7
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