Batic profit up 59% to SAR 850,000 in H1 2024; Q2 loss at SAR 746,000

06/08/2024 Argaam Exclusive

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Batic Investments and Logistics Co. posted SAR 850,000 net profit in H1 2024, a rise of 59% from SAR 536,000 in the same period a year ago.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	231.57	247.50	6.9 %
Gross Income	34.16	32.05	(6.2 %)
Operating Income	5.58	9.98	78.9 %
Net Income	0.54	0.85	58.5 %
Average Shares	600.00	600.00	-
EPS (Riyals)	0.00	0.00	58.5 %

The rise in revenues was driven by a 50% increase in the income of the land transport segment, a 34% rise in the revenues of the real estate segment and a 28% jump in the revenues of the smart parking segment.

The company swung to a net loss of SAR 746,000 in Q2 2024, against a net profit of SAR 480,424 in Q2 2023.

Sequentially, Batic turned to a net loss against a net profit of SAR 1.6 million in Q1 2024.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	117.37	123.20	5.0 %
Gross Income	18.38	17.03	(7.3 %)
Operating Income	3.56	5.82	63.4 %
Net Income	0.48	(0.75)	(255.3 %)
Average Shares	600.00	600.00	-
EPS (Riyals)	0.00	0.00	(255.3 %)

Item	Q1 2024	Q2 2024	Change‬
Revenues	124.30	123.20	(0.9 %)
Gross Income	15.01	17.03	13.5 %
Operating Income	4.16	5.82	39.8 %
Net Income	1.60	(0.75)	(146.8 %)
Average Shares	600.00	600.00	-
EPS (Riyals)	0.00	0.00	(146.8 %)

Shareholders' equity, after minority interest, fell to SAR 456.98 million as of June 30, 2024, compared to SAR 462.478 million a year ago.

Attached Documents:

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