Financial Results : Batic turns to net loss of SAR 11.9 mln in H1 2022, Q2 loss at SAR 12.7 mln

Batic turns to net loss of SAR 11.9 mln in H1 2022, Q2 loss at SAR 12.7 mln

25/08/2022 Argaam Exclusive

View other reports

Batic Investments and Logistics Co. reported a net loss after Zakat and tax of SAR 11.9 million in the first six months of 2022, against a profit of SAR 131,242 a year earlier.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Revenues 236.73 209.57 (11.5 %)
Gross Income 19.63 19.64 0.1 %
Operating Income 0.25 (7.14) (3004.1 %)
Net Income 0.13 (11.88) (9169.7 %)
Average Shares 584.96 600.00 2.6 %
EPS (Riyals) 0.00 (0.02) (8942.4 %)

The losses were attributed to the inclusion of expected credit loss expenses during the current period, higher financing costs due to the increase in interest expenses on lease liabilities and service concession agreement as well as higher general and administrative expenses.

 

In Q2 2022, the company swung to a net loss of SAR 12.7 million, from a profit of SAR 3.4 million in the year-earlier period.

 

On a sequential basis, Batic also saw a net loss against a profit of SAR 842,232.



Current Quarter Comparison (M)

Compared With The
Item Q2 2021 Q2 2022 Change‬
Revenues 113.09 100.27 (11.3 %)
Gross Income 10.23 8.44 (17.5 %)
Operating Income 2.70 (6.44) (339.0 %)
Net Income 3.36 (12.72) (479.1 %)
Average Shares 584.96 600.00 2.6 %
EPS (Riyals) 0.01 (0.02) (469.6 %)

Total shareholders’ equity, excluding minority interest, stood at SAR 487.597 million by the end of H1 2022, compared to SAR 358.177 million in a year-earlier period.

 

Accumulated losses reached SAR 17.473 million, or 2.9% of capital as of June 30, 2022.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.