Al-Babtain profit down 37% to SAR 51 mln in 2021; Q4 at SAR 7.4 mln

29/03/2022 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported a net profit after Zakat and tax of SAR 51 million for 2021, a drop of 37% from SAR 80.3 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	1,387.13	1,502.12	8.3 %
Gross Income	202.56	194.79	(3.8 %)
Operating Income	99.06	94.17	(4.9 %)
Net Income	80.31	51.03	(36.5 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	1.26	0.80	(36.5 %)

The decline was driven by higher raw material prices, which led to an increase of operating expenses.

The company’s Q4 2021 net profit after Zakat and tax fell 74% year-on-year (YoY) to SAR 7.4 million.

On a sequential basis, net profit declined 41.7% from SAR 12.65 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	350.34	452.54	29.2 %
Gross Income	56.79	64.69	13.9 %
Operating Income	27.10	38.51	42.1 %
Net Income	28.26	7.38	(73.9 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	0.44	0.12	(73.9 %)

Item	Q3 2021	Q4 2021	Change‬
Revenues	341.77	452.54	32.4 %
Gross Income	39.67	64.69	63.0 %
Operating Income	14.73	38.51	161.4 %
Net Income	12.65	7.38	(41.7 %)
Average Shares	63.95	63.95	-
EPS (Riyals)	0.20	0.12	(41.7 %)

Total shareholders’ equity, after minority interest, rose 7.6% to SAR 835.2 million as of Dec. 31, 2021, from SAR 776.5 million a year earlier.

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