Saudi Automotive Services Co. (SASCO) reported a 27% rise in the 2021 net profit after Zakat and tax to SAR 50.8 million, from SAR 40.1 million a year earlier.
| Item | 2020 | 2021 | Change |
|---|---|---|---|
| Revenues | 2,136.24 | 4,061.64 | 90.1 % |
| Gross Income | 150.26 | 159.30 | 6.0 % |
| Operating Income | 104.34 | 104.30 | 0.0 % |
| Net Income | 40.13 | 50.84 | 26.7 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.67 | 0.85 | 26.7 % |
The higher profit was driven by better sales volumes and gross profit. Moreover, the company reported an increase in investment income and lower credit loss provisions and Zakat expenses.
In Q4 2021, the company reported a net profit after Zakat and tax of SAR 15.3 million, a rise of 52% year-on-year (YoY).
On a sequential basis, Q4 net profit climbed 34.5% from SAR 11.40 million.
| Item | Q4 2020 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 610.97 | 1,214.42 | 98.8 % |
| Gross Income | 34.26 | 50.30 | 46.8 % |
| Operating Income | 19.59 | 30.65 | 56.5 % |
| Net Income | 10.12 | 15.35 | 51.7 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.17 | 0.26 | 51.7 % |
| Item | Q3 2021 | Q4 2021 | Change |
|---|---|---|---|
| Revenues | 1,140.82 | 1,214.42 | 6.5 % |
| Gross Income | 36.41 | 50.30 | 38.1 % |
| Operating Income | 23.56 | 30.65 | 30.1 % |
| Net Income | 11.40 | 15.35 | 34.6 % |
| Average Shares | 60.00 | 60.00 | - |
| EPS (Riyals) | 0.19 | 0.26 | 34.6 % |
Shareholders’ equity, excluding minority interest, edged up to SAR 811.94 million in 2021, compared to SAR 804.75 million in 2020.
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