Saudi Catering turns to loss of SAR 334.7 mln in 2020

22/03/2021 Argaam Exclusive

View other reports

Saudi Airlines Catering Co. turned to a net loss after Zakat and tax of SAR 334.7 million in 2020, compared to a net profit of SAR 463.9 million in 2019.

Financials (M)

Item	2019	2020	Change‬
Revenues	2,156.27	926.57	(57.0 %)
Gross Income	786.93	42.23	(94.6 %)
Operating Income	541.39	(251.30)	(146.4 %)
Net Income	463.93	(334.69)	(172.1 %)
Average Shares	82.00	82.00	-
EPS (Riyals)	5.66	(4.08)	(172.1 %)

The company attributed the loss to the impact of COVID-19 and the temporary suspension of domestic and international commercial flights from mid-March 2020, as a result of precautionary measures taken by the government.

The temporary suspension of flights led to a direct impact on the company's operations with a decrease in revenue by 57.03%, amounting to SAR 1.229 billion.

The company recognized impairment losses of SAR 22.9 million.

The company also turned to a net loss after Zakat and tax of SAR 100 million for Q4 2020.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	504.87	205.95	(59.2 %)
Gross Income	172.13	(9.50)	(105.5 %)
Operating Income	107.37	(64.44)	(160.0 %)
Net Income	101.32	(100.00)	(198.7 %)
Average Shares	82.00	82.00	-
EPS (Riyals)	1.24	(1.22)	(198.7 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	154.78	205.95	33.1 %
Gross Income	(26.76)	(9.50)	64.5 %
Operating Income	(92.57)	(64.44)	30.4 %
Net Income	(106.47)	(100.00)	6.1 %
Average Shares	82.00	82.00	-
EPS (Riyals)	(1.30)	(1.22)	6.1 %

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×