Batic’s net profit falls 57% in Q1

10/05/2018 Argaam Exclusive

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Batic Investments and Logistics Co. reported a net profit of SAR 3.9 million for Q1 2018, a drop of 57.5 percent year-on-year (YoY), hurt by a decline in gross profit, higher operating costs as well as general and administrative (G&A) expenses.

The first-quarter net profit plummeted 68 percent compared to Q4 2017, as the previous quarter included gains on property and equipment and SAR 8.7 million in other income against SAR 317,866 for the current quarter.



Current Quarter Comparison (M)

Compared With The
Item Q1 2017 Q1 2018 Change‬
Revenues 116.12 127.45 9.8 %
Gross Income 24.19 18.30 (24.3 %)
Operating Income 14.21 6.21 (56.3 %)
Net Income 9.29 3.95 (57.5 %)
Average Shares 584.96 584.96 -
EPS (Riyals) 0.02 0.01 (57.5 %)


Financial results (Million)

Period Revenues Change Gross Income Change Net Income Change EPS(Riyal)
Q1 2009 11.60 1.4 % 1.32 (19.8 %) 0.35 (73.0 %) 0.00
Q2 2009 12.63 0.6 % 1.65 (29.3 %) 1.46 (77.4 %) 0.00
Q3 2009 14.33 13.4 % 3.01 15.7 % 3.23 41.7 % 0.01
Q4 2009 13.38 10.5 % 1.61 14.1 % 0.16 (86.0 %) 0.00
Q1 2010 10.05 (13.3 %) 1.36 2.8 % (8.93) (2666.4 %) (0.02)
Q2 2010 12.11 (4.1 %) 1.23 (25.1 %) 0.96 (34.3 %) 0.00
Q3 2010 12.15 (15.2 %) 2.35 (21.7 %) 2.01 (37.6 %) 0.00
Q4 2010 10.89 (18.6 %) 0.28 (82.4 %) (1.08) (789.2 %) 0.00
Q1 2011 10.45 4.0 % 0.78 (42.4 %) (118.81) (1,230.3 %) (0.20)
Q2 2011 10.16 (16.1 %) 0.56 (54.3 %) 3.14 226.6 % 0.01
Q3 2011 10.72 (11.7 %) 0.50 (78.8 %) (0.23) (111.6 %) 0.00
Q4 2011 10.90 0.1 % 0.39 38.2 % (3.78) (249.0 %) (0.01)
Q1 2012 10.17 (2.7 %) 0.95 21.6 % (0.24) 99.8 % 0.00
Q2 2012 11.93 17.3 % 1.98 251.0 % 1.50 (52.2 %) 0.00
Q3 2012 11.45 6.8 % 1.40 180.0 % 1.18 605.6 % 0.00
Q4 2012 11.27 3.4 % 1.42 263.7 % (0.18) 95.3 % 0.00
Q1 2013 9.91 (2.6 %) 1.04 9.7 % 0.34 245.3 % 0.00
Q2 2013 10.62 (11.0 %) 0.73 (63.2 %) 4.68 212.1 % 0.01
Q3 2013 12.46 8.8 % 1.98 41.4 % 1.22 3.2 % 0.00
Q4 2013 13.11 16.4 % (0.23) (116.5 %) 81.36 46325.0 % 0.14
Q1 2014 13.59 37.1 % 1.60 53.3 % 1.37 300.6 % 0.00
Q2 2014 31.24 194.2 % 15.58 2039.4 % 12.97 176.9 % 0.02
Q3 2014 52.48 321.3 % 29.40 1384.7 % 32.78 2595.5 % 0.06
Q4 2014 13.76 4.9 % 0.33 239.3 % (3.11) (103.8 %) (0.01)
Q1 2015 14.05 3.4 % 0.64 (60.2 %) 0.40 (70.7 %) 0.00
Q2 2015 116.03 271.4 % 38.83 149.3 % 20.29 56.4 % 0.03
Q3 2015 125.73 139.6 % 26.23 (10.8 %) 18.01 (45.0 %) 0.03
Q4 2015 118.31 760.0 % 21.28 6426.1 % 12.61 505.6 % 0.02
Q1 2016 112.82 703.2 % 22.43 3426.4 % 15.33 3704.0 % 0.03
Q2 2016 109.49 (5.6 %) 18.52 (52.3 %) 10.73 (47.1 %) 0.02
Q3 2016 109.76 (12.7 %) 18.52 (29.4 %) 7.33 (59.3 %) 0.01
Q4 2016 110.03 (7.0 %) 17.82 (16.3 %) (16.56) (231.3 %) (0.03)
Q1 2017 116.12 2.9 % 24.19 7.8 % 9.29 (39.4 %) 0.02
Q2 2017 121.08 10.6 % 26.85 45.0 % 16.05 49.6 % 0.03
Q3 2017 125.97 14.8 % 27.84 50.3 % 14.82 102.1 % 0.03
Q4 2017 122.84 11.6 % 32.45 82.2 % 12.42 175.0 % 0.02
Q1 2018 127.45 9.8 % 18.30 (24.3 %) 3.95 (57.5 %) 0.01

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2009 15.66 % 29.78 % 20.90 %
Q2 2009 14.24 % 28.98 % 10.63 %
Q3 2009 14.57 % 29.57 % 12.15 %
Q4 2009 14.60 % 29.70 % 10.00 %
Q1 2010 15.12 % 30.57 % (8.10 %)
Q2 2010 14.45 % 30.89 % (9.20 %)
Q3 2010 13.75 % 31.23 % (12.16 %)
Q4 2010 11.57 % 30.35 % (15.57 %)
Q1 2011 10.20 % 28.99 % 1.50 %
Q2 2011 9.12 % 24.90 % 0.70 %
Q3 2011 5.04 % 19.27 % (4.64 %)
Q4 2011 5.29 % 11.00 % (10.82 %)
Q1 2012 5.73 % 9.78 % (8.57 %)
Q2 2012 8.73 % 13.85 % (6.12 %)
Q3 2012 10.61 % 16.21 % (2.81 %)
Q4 2012 12.83 % 23.76 % 5.06 %
Q1 2013 13.11 % 21.51 % 6.39 %
Q2 2013 10.62 % 16.57 % 13.94 %
Q3 2013 11.69 % 14.83 % 13.71 %
Q4 2013 7.63 % 4.43 % (14.54 %)
Q1 2014 8.18 % 6.48 % (11.39 %)
Q2 2014 26.88 % 26.52 % 3.72 %
Q3 2014 41.97 % 41.35 % 30.95 %
Q4 2014 42.23 % 43.58 % 25.41 %
Q1 2015 41.19 % 42.65 % 24.44 %
Q2 2015 35.24 % 35.90 % 25.76 %
Q3 2015 24.49 % 25.51 % 13.29 %
Q4 2015 23.25 % 24.39 % 16.72 %
Q1 2016 23.00 % 23.01 % 15.35 %
Q2 2016 18.97 % 18.22 % 9.31 %
Q3 2016 17.93 % 16.18 % 7.27 %
Q4 2016 17.48 % 12.29 % 4.79 %
Q1 2017 17.75 % 12.55 % 4.90 %
Q2 2017 19.12 % 14.19 % 6.73 %
Q3 2017 20.43 % 15.48 % 8.08 %
Q4 2017 22.91 % 19.15 % 11.15 %
Q1 2018 21.20 % 17.30 % 9.46 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2009 584.96 0.02 0.02 0.28
Q2 2009 584.96 0.01 0.01 0.29
Q3 2009 584.96 0.01 0.01 0.29
Q4 2009 584.96 0.01 0.01 0.29
Q1 2010 584.96 (0.01) (0.01) 0.28
Q2 2010 584.96 (0.01) (0.01) 0.27
Q3 2010 584.96 (0.01) (0.01) 0.28
Q4 2010 584.96 (0.01) (0.01) 0.28
Q1 2011 584.96 (0.20) 0.00 0.25
Q2 2011 584.96 (0.20) 0.00 0.25
Q3 2011 584.96 (0.20) 0.00 0.25
Q4 2011 584.96 (0.20) (0.01) 0.25
Q1 2012 584.96 0.00 (0.01) 0.28
Q2 2012 584.96 0.00 0.00 0.26
Q3 2012 584.96 0.00 0.00 0.27
Q4 2012 584.96 0.00 0.00 0.27
Q1 2013 584.96 0.00 0.00 0.28
Q2 2013 584.96 0.01 0.01 0.28
Q3 2013 584.96 0.01 0.01 0.29
Q4 2013 584.96 0.15 (0.01) 0.41
Q1 2014 584.96 0.15 (0.01) 0.42
Q2 2014 584.96 0.17 0.00 0.41
Q3 2014 584.96 0.22 0.06 0.46
Q4 2014 584.96 0.08 0.05 0.42
Q1 2015 584.96 0.07 0.05 0.42
Q2 2015 584.96 0.09 0.09 0.45
Q3 2015 584.96 0.06 0.06 0.46
Q4 2015 584.96 0.09 0.11 0.48
Q1 2016 584.96 0.11 0.12 0.50
Q2 2016 584.96 0.10 0.07 0.52
Q3 2016 584.96 0.08 0.06 0.52
Q4 2016 584.96 0.03 0.04 0.52
Q1 2017 584.96 0.02 0.04 0.54
Q2 2017 584.96 0.03 0.05 0.56
Q3 2017 584.96 0.04 0.07 0.58
Q4 2017 584.96 0.09 0.09 0.60
Q1 2018 584.96 0.08 0.08 0.61

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2009 29.13 29.13 1.81
Q2 2009 99.32 99.32 3.07
Q3 2009 79.60 79.60 2.87
Q4 2009 95.21 95.21 2.93
Q1 2010 NEG NEG 2.84
Q2 2010 NEG NEG 2.05
Q3 2010 NEG NEG 1.92
Q4 2010 NEG NEG 2.00
Q1 2011 NEG More than 100 2.12
Q2 2011 NEG More than 100 2.25
Q3 2011 NEG NEG 2.80
Q4 2011 NEG NEG 6.22
Q1 2012 NEG NEG 7.28
Q2 2012 NEG NEG 7.48
Q3 2012 NEG NEG 9.77
Q4 2012 More than 100 More than 100 12.15
Q1 2013 More than 100 More than 100 10.45
Q2 2013 More than 100 More than 100 8.98
Q3 2013 More than 100 More than 100 5.47
Q4 2013 9.02 NEG 3.32
Q1 2014 11.34 NEG 4.10
Q2 2014 10.07 More than 100 4.10
Q3 2014 8.89 33.42 4.21
Q4 2014 17.29 26.96 3.09
Q1 2015 21.83 34.47 3.80
Q2 2015 32.11 31.97 6.19
Q3 2015 34.52 34.30 4.55
Q4 2015 31.17 25.57 5.72
Q1 2016 17.15 15.65 3.90
Q2 2016 20.65 26.96 3.86
Q3 2016 20.91 29.39 3.15
Q4 2016 More than 100 85.16 5.88
Q1 2017 More than 100 77.64 5.41
Q2 2017 More than 100 52.41 4.95
Q3 2017 79.70 49.16 5.52
Q4 2017 32.43 31.47 4.83
Q1 2018 36.59 36.73 4.84

Business Segments (Million)

Compared With The
Period Security guard sector Transport sector ATM feeding sector Insured money transfer sector Maintenance and operation sector Real Estate department Counting and postal sector
Q1 2016 34.70 15.27 40.71 18.94 - - 3.20
Q2 2016 30.97 19.52 39.87 16.99 - - 2.15
Q3 2016 30.88 15.61 42.31 18.77 - - 2.20
Q4 2016 29.85 12.83 46.67 18.47 - - 2.21
Q1 2017 32.94 13.37 47.70 19.14 - - 2.97
Q2 2017 33.27 14.66 49.49 20.50 - - 3.16
Q3 2017 38.44 13.58 50.65 19.80 0.47 - 3.02
Q4 2017 40.07 13.57 47.96 17.80 0.47 - 2.97
Q1 2018 48.31 12.38 47.36 19.01 0.38 - -


Financial Ratios
Current
Market Cap (M Riyal) 1,962.00
Enterprise Value (EV) (M) 2,044.37
Shares Outstanding ((M)) 600.00
EPS ( Riyal) (TTM) (0.02)
Book Value (BV) ( Riyal) 0.76
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 4.29
Return on Average Assets (%) (TTM) (0.85 )
Return on Average Equity (%) (TTM) (2.69 )
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Share Price

Batic Investments and Logistics Co.
3.27
(0.09) (2.68 %)

Batic Investments and Logistics Co. (BATIC)

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