Al-Babtain Power and Telecommunication Co. reported a net profit rise to SAR 141.5 million in 2023, compared to SAR 52.6 million in 2022, on higher revenue as the company was awarded new projects while selling prices improved. Al-Babtain also cited increased operating profit.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 2,197.06 | 2,490.49 | 13.4 % |
| Gross Income | 268.60 | 397.34 | 47.9 % |
| Operating Income | 137.26 | 272.99 | 98.9 % |
| Net Income | 52.63 | 141.49 | 168.8 % |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.82 | 2.21 | 168.8 % |
The fourth-quarter net earnings skyrocketed to SAR 43.3 million, compared to SAR 14.1 million in Q4 2022.
On a sequential basis, net profit slid 0.3% from SAR 43.37 million.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 686.77 | 563.04 | (18.0 %) |
| Gross Income | 124.67 | 139.58 | 12.0 % |
| Operating Income | 83.03 | 110.99 | 33.7 % |
| Net Income | 14.08 | 43.24 | 207.0 % |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.22 | 0.68 | 207.0 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 757.66 | 563.04 | (25.7 %) |
| Gross Income | 99.01 | 139.58 | 41.0 % |
| Operating Income | 84.78 | 110.99 | 30.9 % |
| Net Income | 43.37 | 43.24 | (0.3 %) |
| Average Shares | 63.95 | 63.95 | - |
| EPS (Riyals) | 0.68 | 0.68 | (0.3 %) |
Shareholders’ equity, after minority interest, reached SAR 905 million as of Dec. 31, 2023, up from SAR 823.2 million in the prior-year period.
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