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Batic Investments and Logistics Co. announces its Annual Consolidated financial results for the period ending on 31-12-2023.
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 480,572,141 | 427,495,117 | 12.41 | ||
| Gross Profit (Loss) | 57,433,469 | 43,154,230 | 33.09 | ||
| Operational Profit (Loss) | -5,054,431 | -19,613,825 | -74.23 | ||
| Net profit (Loss) | -13,890,857 | -30,837,648 | -54.95 | ||
| Total Comprehensive Income | -8,264,792 | -34,322,043 | -75.92 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 456,130,645 | 465,156,037 | -1.94 | ||
| Profit (Loss) per Share | -0.02 | -0.05 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| 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 year compared to the last year | The reason for the increase in revenues during the current year 2023 by 12% over the previous year is mainly due to the increase in revenues of most of the group’s operational sectors, as land transport sector revenues increased by 26%, security guard sector revenues increased by 15%, maintenance and operation revenues increased by 16%, Smart parking increased by 12%, CIT revenues increased by 10%, and Investment property revenues increased by 40% |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for the decrease in net loss during the current year compared to the previous year is mainly due to: 1- The increase in gross profit by 33%, as the gross profit during the current year amounted to 57.4 million SAR compared to a total profit of 43.2 million SAR during the previous year, mainly due to the increase in operating revenues during the current year by 12% compared to the previous year In addition to the decrease in the percentage of revenue costs, as the percentage of costs for the current year 88% compared to 90 % during the previous year. 2- The decrease in general and administrative expenses, as the percentage of general and administrative expenses during the current year was 9% compared to 11% during the previous year. 3-The increase in unrealized gains from investments at fair value through profit or loss, as the unrealized gains during the current year amounted to 10.1 million SAR compared to gains of 1.5 million SAR during the previous year. Despite the increase in financing costs during the current period by 43 % in addition to the increase in zakat expenses by 28%. compared to the previous year. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | None |
| 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 year and the previous year was calculated by dividing the net profit or loss for each year after zakat attributable to the company’s shareholders by the weighted average number of ordinary shares outstanding at the end of each year, where the weighted average shares for the current year 600,000,000 shares compared to 589,320,000 shares for 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. The company uses the cost model option for measuring properties and investment properties. We would like to draw the shareholders' attention; a financial performance report has been attached on the performance of the company for the year 2023. |
| 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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