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Home›Gross Income›Batic Investments and Logistics Co. announces interim consolidated financial results for the period ending 30-09-2021 (nine months)

Batic Investments and Logistics Co. announces interim consolidated financial results for the period ending 30-09-2021 (nine months)

By Daniel Bingham
November 7, 2021
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Batic Investments and Logistics Co. announces interim consolidated financial results for the period ending 30-09-2021 (nine months)

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List of items

Current quarter

Similar quarter for the previous year

%Switch

Previous quarter

% Switch

Sales / Revenue

112,392,007 190 748 346 -41,078 108 595 558 3.495

Gross profit (loss)

12 744 388 31 044 106 -58.947 11 140 070 14,401

Operating profit (loss)

669,705 21 103 398 -96.826 47 635 1,305,909

Net profit (loss) after zakat and taxes

258,011 9,164,018 -97,184 3 853 714 -93,304

Total comprehensive income

258,011 9,164,018 -97,184 3 853 714 -93,304

All figures are in Saudi Arabia (real), in riyals

List of items

Current period

Similar period for the previous year

%Switch

Sales / Revenue

330 277 721 394 430 327 -16,264

Gross profit (loss)

32 700 511 50 339 231 -35,039

Operating profit (loss)

-1 119 665 18 683 629 –

Net profit (loss) after zakat and taxes

348,724 -1 148 795 –

Total comprehensive income

348,724 -1 148 795 –

Total shareholders’ equity (after deduction of minority equity)

358 394 188 372 449 060 -3,773

Earnings (loss) per share

0.01 -0.04

All figures are in Saudi Arabia (real), in riyals

List of items

Explanation

The reason for the increase (decrease) in net profit in the current quarter compared to the same quarter of last year is

The reason for the decrease in net profit in the current quarter compared to the same quarter of the previous year is mainly due to:

1- The 41% decrease in operating income, operating income during Q3-2021 amounting to 112.4 million SAR, compared to 190.1 million SAR in Q3-2020 due to the realization of revenues from the medical equipment supply sector activity, amounting to SAR 85.8 million in the same quarter of the previous year

2- The decrease in gross margin of 59%, the gross margin in Q3-2021 amounting to 12.7 million SAR, compared to 31 million SAR in the third quarter-2020 due to the same quarter of the previous year including a total profit from the equipment supply sector of SAR 21.8 million, in addition to the inclusion in the current quarter of a total loss from the smart parking sector, which is still in the preparation and construction phase and is not fully operating the sites, this is offset by the improvement in total profit From the security guards sector, ATM feed sector, cash sector in transit and the real estate investment sector.

3- The 72% increase in financing costs, with financing costs during Q3-2021 amounting to 3.3 million SAR, compared to 1.9 million SAR during the same quarter of the year former.

The reason for the increase (decrease) in net profit in the current quarter compared to the previous period in the current year is

The reason for the decrease in net profit in the current quarter compared to the previous quarter is mainly due to:

1- The increase in general and administrative expenses of 9%, general and administrative expenses during Q3-2021 amounting to 12.1 million SAR, against 11.1 million SAR during the previous quarter of this year.

2- The increase in financing costs of 119%, financing costs during Q3-2021 amounting to 3.3 million SAR, compared to 1.5 million SAR during the previous quarter of the year In progress

3- Zakat spending increase of 81%, Zakat spending during Q3-2021 amounting to SAR 2 million, compared to SAR 1.1 million in the previous quarter of the current year

The reason for the increase (decrease) in net profit during the current period compared to the same period last year is

The reason for realizing a net profit in the current period compared to a net loss in the same period of the previous year is mainly due to:

1- Including the current period, reversal of provision for expected credit losses, net of 4.6 million SAR, against expected credit losses of 8.8 million SAR during the same period of the previous year.

2- Including the current period on unrealized income from investments at fair value through profit or loss, for an amount of SAR 853 thousand.

Declaration of the type of external auditor’s report

Unmodified conclusion

Reclassification of comparators

N / A

The Capital Market Authority and the Saudi Stock Exchange do not assume any responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim all liability for any loss arising out of, or incurred in doing so. basis on, any part of this disclosure, and the Issuer accepts full responsibility for the accuracy of the information contained therein and confirms, after making all reasonable inquiries, that to its knowledge, there is no other fact or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

Disclaimer

Batic investment and logistics company published this content on November 07, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 07 November 2021 06:17:08 AM UTC.

Public now 2021

All the news of BATIC SOCIETE D’INVESTISSEMENT ET DE LOGISTIQUE
Sales 2020 498 million
133 million
133 million
2020 net income -12.9 million
-3.43 million
-3.43 million
Net debt 2020 291 million
77.6 million
77.6 million
PER 2020 ratio -81.4x
2020 yield –
Capitalization 1,290 million
344 million
344 million
VE / Sales 2019 1.98x
VE / Sales 2020 2.69x
Number of employees –
Free float 85.0%

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