CATRION profit rises 10% to SAR 282.7M in 2023; Q4 at SAR 69.5M

24/03/2024 Argaam Exclusive

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CATRION Catering Holding Co. reported a net profit of SAR 282.7 million for 2023, up 10 % from SAR 257.1 million in 2022, boosted by the positive performance of inflight and non-aviation catering segments.

Financials (M)

Item	2022	2023	Change‬
Revenues	1,818.01	2,133.76	17.4 %
Gross Income	516.32	565.99	9.6 %
Operating Income	258.26	276.30	7.0 %
Net Income	257.10	282.66	9.9 %
Average Shares	82.00	82.00	-
EPS (Riyals)	3.14	3.45	9.9 %

Revenue soared 17.4% to SAR 2.13 billion in 2023 from SAR 1.81 billion a year earlier, driven by the inflight catering segment as well as non-aviation catering services, such as catering to remote sites and healthcare customers.

Net profit dropped 35% YoY to SAR 69.5 million in Q4 2023.

Compared to Q3, the fourth-quarter net profit fell 24.8% from SAR 92.35 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	507.99	549.13	8.1 %
Gross Income	152.66	142.19	(6.9 %)
Operating Income	78.17	72.19	(7.7 %)
Net Income	107.08	69.45	(35.1 %)
Average Shares	82.00	82.00	-
EPS (Riyals)	1.31	0.85	(35.1 %)

Item	Q3 2023	Q4 2023	Change‬
Revenues	565.97	549.13	(3.0 %)
Gross Income	156.27	142.19	(9.0 %)
Operating Income	76.07	72.19	(5.1 %)
Net Income	92.35	69.45	(24.8 %)
Average Shares	82.00	82.00	-
EPS (Riyals)	1.13	0.85	(24.8 %)

Shareholders’ equity, no minority interest, rose to SAR 1.28 billion as of Dec. 31, 2023, from SAR 1.11 billion a year earlier.

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