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Batic Investments and Logistics Co. announces the interim consolidated financial results for the period ending on 31-03-2024(Three Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 124,300,896 | 114,203,718 | 8.841 | 126,322,355 | -1.6 |
| Gross Profit (Loss) | 15,012,931 | 15,781,707 | -4.871 | 10,769,566 | 39.401 |
| Operational Profit (Loss) | 4,162,326 | 2,017,257 | 106.335 | -7,061,793 | - |
| Net profit (Loss) | 1,595,693 | 55,671 | 2,766.291 | -7,803,752 | - |
| Total Comprehensive Income | 1,595,693 | 55,671 | 2,766.291 | -2,177,687 | - |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 457,726,338 | 461,997,561 | -0.924 |
| Profit (Loss) per Share | 0.003 | 0 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The reason for the increase in revenues during the current quarter of 2024 by 9% compared to the same quarter of the previous year is mainly due to the increase in land transport sector revenues by 59% and the smart parking sector revenues by 40%. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the increase in net profit during the current quarter compared to the same quarter of the previous year is mainly due to: 1- The increase in operating profit by 106%, as operating profit amounted to 4.2 million riyals during the current quarter compared to an operating profit of 2 million riyals during the same quarter of the previous year, which is mainly due to the increase in operating revenues during the current quarter by 9% compared to the same quarter of the previous year, in addition to the decrease in general and administrative expenses during the current quarter by 24% compared to the same quarter of the previous year. 2-The increase in unrealized gains from investments at fair value through profit or loss, as the unrealized gains during the current quarter amounted to 4.2 million SAR compared to gains of 1.2 million SAR during the same quarter of the previous year. Despite the increase in financing costs during the current quarter by 33% In addition to including revenues from the sale of investment shares amounted to 1.8 million riyals in the same quarter of the previous year. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for the decrease in operating revenues during the current quarter of 2024 by 1.6% compared to the previous quarter is mainly due to a decrease in the revenues of the security guard sector by 29% and a decrease in the revenues of the ATM feeding sector by 12%. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for achieving a net profit during the current quarter compared to a net loss during the previous quarter is mainly due to: - 1-The increase in Gross profit by 39%, as the Gross profit during the current quarter amounted to 15 million riyals, compared to a Gross profit of 10.8 million riyals during the previous quarter, which is mainly due to the decrease in the percentage of Cost of revenue, as the percentage of costs for the current quarter reached 88% compared to 91%. During the previous quarter. 2- The decrease in the provision for impairment of financial assets, as the provision during the current quarter amounted to 1.5 million riyals compared to 6.6 million during the previous quarter. 3-The decrease in the provision for Slow moving inventories, as the provision during the current quarter amounted to 168 thousand riyals compared to the amount of 1.9 million during the previous quarter. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | non |
| Reclassification of Comparison Items | Certain prior period figures have been re-classified to confirm with the presentation in the current period. None of the re-classifications impacted company's results or Shareholders’ Equity. |
| Additional Information | -The basic and diluted share of profit and loss For the current period and the similar period of the previous year was calculated by dividing the net profit or loss for each period after zakat attributable to the company’s shareholders by the weighted average number of ordinary shares outstanding at the end of each period, where the weighted average shares for the current period 600,000,000 shares compared to 600,000,000 shares for the similar period of the previous year, This is after the approval of the Extraordinary General Assembly on June 21, 2023 to divide the nominal value of the share from 10 Saudi riyals per share to 1 Saudi riyal per share, so that the number of shares of the company after the split becomes 600 million shares instead of 60 million shares. -We would like to draw the shareholders' attention; a financial performance report has been attached on the performance for the first quarter of 2024. |
| Attached Documents |  |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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