Batic Investments and Logistics Co. reported a net profit of SAR 57,000 for the first nine months of 2024, compared to a loss of SAR 6.1 million in the year-earlier period.
Item | 9m 2023 | 9m 2024 | Change |
---|---|---|---|
Revenues | 354.25 | 367.28 | 3.7 % |
Gross Income | 46.66 | 48.31 | 3.5 % |
Operating Income | 2.01 | 14.60 | 627.6 % |
Net Income | (6.09) | 0.06 | 100.9 % |
Average Shares | 600.00 | 600.00 | - |
EPS (Riyals) | (0.01) | 0.00 | 100.9 % |
Batic recorded a 3.7% rise year-on-year (YoY) in revenue for the current period, driven by a 42% increase in land transport, 37% growth in smart parking, and a 23% rise in investment property revenue, offset by a 36% drop in security services.
Operating profit jumped 627% to SAR 14.6 million, mainly due to a 4% rise in operational revenue, an 18% cut in general expenses, and a 55% reduction in financial impairment provisions.
Item | Q3 2023 | Q3 2024 | Change |
---|---|---|---|
Revenues | 122.68 | 119.77 | (2.4 %) |
Gross Income | 12.50 | 16.27 | 30.1 % |
Operating Income | (3.57) | 4.62 | 229.4 % |
Net Income | (6.62) | (0.79) | 88.0 % |
Average Shares | 600.00 | 600.00 | - |
EPS (Riyals) | (0.01) | 0.00 | 88.0 % |
Item | Q2 2024 | Q3 2024 | Change |
---|---|---|---|
Revenues | 123.20 | 119.77 | (2.8 %) |
Gross Income | 17.03 | 16.27 | (4.5 %) |
Operating Income | 5.82 | 4.62 | (20.6 %) |
Net Income | (0.75) | (0.79) | (6.2 %) |
Average Shares | 600.00 | 600.00 | - |
EPS (Riyals) | 0.00 | 0.00 | (6.2 %) |
Unrealized gains from fair value investments increased 49% to SAR 9 million, up from SAR 6 million in the prior-year period.
This was despite a 46% YoY rise in financing costs and last year's SAR 1.8 million revenue from asset sales.
Total shareholders’ equity, no minority interest, increased to SAR 456.187 million as of Sept. 30, 2024, from SAR 458.308 million a year earlier.
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