Financial Results : Al-Babtain profit down 37% to SAR 51 mln in 2021; Q4 at SAR 7.4 mln

Al-Babtain profit down 37% to SAR 51 mln in 2021; Q4 at SAR 7.4 mln

29/03/2022 Argaam Exclusive

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Al-Babtain Power and Telecommunication Co. reported a net profit after Zakat and tax of SAR 51 million for 2021, a drop of 37% from SAR 80.3 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 1,387.13 1,502.12 8.3 %
Gross Income 202.56 194.79 (3.8 %)
Operating Income 99.06 94.17 (4.9 %)
Net Income 80.31 51.03 (36.5 %)
Average Shares 63.95 63.95 -
Earnings Per Share before unusual items (Riyals) 1.14 0.80 (30.1 %)
EPS (Riyal) 1.26 0.80 (36.5 %)

The decline was driven by higher raw material prices, which led to an increase of operating expenses.

 

The company’s Q4 2021 net profit after Zakat and tax fell 74% year-on-year (YoY) to SAR 7.4 million.

 

On a sequential basis, net profit declined 41.7% from SAR 12.65 million in Q3 2021.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 350.34 452.54 29.2 %
Gross Income 56.79 64.69 13.9 %
Operating Income 27.10 38.51 42.1 %
Net Income 28.26 7.38 (73.9 %)
Average Shares 63.95 63.95 -
Earnings Per Share before unusual items (Riyal) 0.35 0.12 (67.2 %)
EPS (Riyal) 0.44 0.12 (73.9 %)

Total shareholders’ equity, after minority interest, rose 7.6% to SAR 835.2 million as of Dec. 31, 2021, from SAR 776.5 million a year earlier.

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