Al-Baha Investment and Development Co. cut losses to SAR 8 million in 2022, from SAR 8.3 million in 2021.
| 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.
| 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 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 2.80 | 3.54 | 26.4 % |
| Gross Income | 1.30 | 2.27 | 75.2 % |
| Operating Income | 0.20 | (2.61) | (1400.0 %) |
| Net Income | (0.60) | (3.08) | (411.8 %) |
| Average Shares | 2,970.00 | 2,970.00 | - |
| EPS (Halala) | (0.02) | (0.10) | (411.8 %) |
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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