Saudi Airlines Catering Co.’s net profit rose 53% to SAR 120.9 million in H1 2023 from SAR 78.8 million in H1 2022.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 808.05 | 1,018.66 | 26.1 % |
| Gross Income | 215.96 | 267.53 | 23.9 % |
| Operating Income | 98.15 | 128.04 | 30.5 % |
| Net Income | 78.78 | 120.86 | 53.4 % |
| Average Shares | 82.00 | 82.00 | - |
| EPS (Riyals) | 0.96 | 1.47 | 53.4 % |
The profit increase was driven by improved sales, increased in-flight operations and higher non-aviation business operations.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 413.45 | 497.08 | 20.2 % |
| Gross Income | 112.90 | 124.89 | 10.6 % |
| Operating Income | 53.49 | 65.76 | 23.0 % |
| Net Income | 43.46 | 63.73 | 46.6 % |
| Average Shares | 82.00 | 82.00 | - |
| EPS (Riyals) | 0.53 | 0.78 | 46.6 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 521.58 | 497.08 | (4.7 %) |
| Gross Income | 142.65 | 124.89 | (12.5 %) |
| Operating Income | 62.28 | 65.76 | 5.6 % |
| Net Income | 57.13 | 63.73 | 11.6 % |
| Average Shares | 82.00 | 82.00 | - |
| EPS (Riyals) | 0.70 | 0.78 | 11.6 % |
In Q2 2023, the company’s net profit grew by 46% to SAR 63.7 million from SAR 43.5 million in the prior-year period on a higher number of flights and growth in customer operations from non-aviation catering segments, resulting in an increase of revenue by 20.2% to SAR 83.7 million).
Sequentially, net profit jumped 11.5% from SAR 57.13 million in Q1 2023.
Total shareholders’ equity, no minority interest, rose to SAR 1.2 billion as of June 30, 2023, from SAR 951.3 million in the earlier-year period.
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