Batic Investments narrows 2021 net loss to SAR 9.7 mln; Q4 at SAR 10 mln

24/03/2022 Argaam Exclusive

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Batic Investments and Logistics Co. posted a net loss after Zakat and tax of SAR 9.7 million for 2021, compared with a loss of SAR 11.61 million a year earlier.

Financials (M)

Item	2020	2021	Change‬
Revenues	516.93	474.83	(8.1 %)
Gross Income	60.36	48.41	(19.8 %)
Operating Income	(2.05)	(1.34)	34.5 %
Net Income	(11.62)	(9.65)	17.0 %
Average Shares	584.96	584.96	-
EPS (Riyals)	(0.02)	(0.02)	17.0 %

The narrowed net loss was attributable to improved gross profit of some operating segments of subsidiaries and realizing a gross profit from the smart parking sector, compared with a gross loss in the previous year.

This improvement was offset by the decrease in gross profit of some other segments, the most important of which are land transport and medical equipment supplies. The latter segment achieved no revenues in 2021, compared to revenues of SAR 82 million a year earlier.

The company’s Q4 2021 net loss amounted to SAR 10 million, compared with SAR 10.47 million in year- earlier period.

On a sequential basis, the company turned to a loss in Q4 2021 from a net profit of SAR 0.26 million in Q3 2021.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2020	Q4 2021	Change‬
Revenues	122.50	118.92	(2.9 %)
Gross Income	10.02	15.96	59.3 %
Operating Income	(12.00)	(4.59)	61.8 %
Net Income	(10.47)	(10.25)	2.1 %
Average Shares	584.96	584.96	-
EPS (Riyals)	(0.02)	(0.02)	2.1 %

Item	Q3 2021	Q4 2021	Change‬
Revenues	119.18	118.92	(0.2 %)
Gross Income	12.82	15.96	24.5 %
Operating Income	3.00	(4.59)	(252.8 %)
Net Income	0.47	(10.25)	(2285.5 %)
Average Shares	584.96	584.96	-
EPS (Riyals)	0.00	(0.02)	(2285.5 %)

Total shareholders’ equity, after minority interest, amounted to SAR 225.8 million at the end of 2021, down 37.2% from SAR 359.3 million a year before.

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