Theeb Rent a Car Co. reported net profit after Zakat and tax of SAR 63.3 million for 2020, a 46% decline, from SAR 119 million a year earlier.
This earnings drop was driven by lower utilization rates for the short-term rental activities across the Kingdom. The company also cited lower revenue from the short-term rental activities due to the COVID-19 outbreak.
| Item | 2019 | 2020 | Change |
|---|---|---|---|
| Revenues | 631.14 | 660.00 | 4.6 % |
| Gross Income | 221.15 | 162.01 | (26.7 %) |
| Operating Income | 156.16 | 91.52 | (41.4 %) |
| Net Income | 116.03 | 63.25 | (45.5 %) |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 2.70 | 1.47 | (45.5 %) |
The company’s Q4 2020 net profit after Zakat and tax fell 43% year-on-year to SAR 21.4 million.
| Item | Q4 2019 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 180.17 | 174.90 | (2.9 %) |
| Gross Income | 65.73 | 50.51 | (23.2 %) |
| Operating Income | 43.15 | 28.61 | (33.7 %) |
| Net Income | 37.61 | 21.37 | (43.2 %) |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.87 | 0.50 | (43.2 %) |
| Item | Q3 2020 | Q4 2020 | Change |
|---|---|---|---|
| Revenues | 165.98 | 174.90 | 5.4 % |
| Gross Income | 38.56 | 50.51 | 31.0 % |
| Operating Income | 22.20 | 28.61 | 28.9 % |
| Net Income | 13.99 | 21.37 | 52.8 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.33 | 0.50 | 52.8 % |
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}