Al-Baha extends 9M 2022 loss to SAR 4.9 mln, Q3 at SAR 600,000

08/11/2022 Argaam Exclusive

Al-Baha Investment and Development Co. widened net losses after Zakat and tax to SAR 4.9 million in the first nine months of 2022, from SAR 2.4 million in the year-earlier period.



Financials (M)

Item 9m 2021 9m 2022 Change‬
Revenues 7.93 7.98 0.5 %
Gross Income 4.17 3.55 (14.9 %)
Operating Income (1.59) 1.01 163.4 %
Net Income (2.44) (4.89) (101.0 %)
Average Shares 2,964.00 2,970.00 0.2 %
EPS (Halala) (0.08) (0.16) (100.6 %)

The increase in net losses is attributed to recording non-recurring expenses related to the company's capital increase file, in addition to higher financing costs.

 

In Q3 2022, Al-Baha narrowed its losses to SAR 600,000, from SAR 820,000 in Q3 2021.

 

Compared to Q2 2022, losses saw a three-fold jump from SAR 200,000 due to no other revenue.



Current Quarter Comparison (M)

Compared With The
Item Q3 2021 Q3 2022 Change‬
Revenues 2.59 2.80 8.3 %
Gross Income 1.27 1.30 2.3 %
Operating Income (0.11) 0.20 291.4 %
Net Income (0.82) (0.60) 26.5 %
Average Shares 2,964.00 2,970.00 0.2 %
EPS (Halala) (0.03) (0.02) 26.6 %

Total shareholders’ equity, excluding minority interest, rose to SAR 214.462 million as of Sept. 30, 2022, from SAR 105.265 million a year earlier.

 

Accumulated losses came in at SAR 82.538 million by the end of the nine-month period, representing 27.79% of the company’s capital.

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Share Price

Al-Baha Investment and Development Co.
0.30
(0.01) (3.23 %)

Al-Baha Investment and Development Co. (ALBAHA)

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Financial Ratios
Current
Market Cap (M Riyal) 891.00
Enterprise Value (EV) (M) 897.63
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 4.11
Return on Average Assets (%) (TTM) 1.3
Return on Average Equity (%) (TTM) 1.7
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