Financial Results : SGS trims 2022 net loss to SAR 244.5 mln, Q4 at SAR 107.8 mln

SGS trims 2022 net loss to SAR 244.5 mln, Q4 at SAR 107.8 mln

26/03/2023 Argaam Exclusive

View other reports

Saudi Ground Services Co. (SGS) narrowed 2022 net loss to SAR 244.5 million, compared to SAR 254.4 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 1,607.93 1,977.04 23.0 %
Gross Income 194.98 159.04 (18.4 %)
Operating Income (183.62) (146.21) 20.4 %
Net Income (254.41) (244.49) 3.9 %
Average Shares 188.00 188.00 -
EPS (Riyals) (1.35) (1.30) 3.9 %

The company noted the continuous recovery of operations, which led to an increase in operating revenues by 23% year-on-year (YoY) in addition to higher actuarial gain by SAR 61.9 million. 

 

The increase in revenue from investments at fair value through profit or loss (SAR 20.4 million), while, share of profit from equity accounted investment and other income grew by SAR 58.8 million and SAR 8.1 million, respectively.

 

The recovery in operations resulted in decreasing the operational loss by 31% YoY.

 

Meanwhile, Zakat expenses increased by SAR 126.8 million, and financing costs rose by SAR 4.4 million YoY. The SAR 68.2 million support provided by the SANED program stopped in 2022. 



Current Quarter Comparison (M)

Compared With The
Item Q4 2021 Q4 2022 Change‬
Revenues 439.46 501.44 14.1 %
Gross Income 69.59 22.30 (68.0 %)
Operating Income (71.45) (79.41) (11.1 %)
Net Income (101.07) (107.77) (6.6 %)
Average Shares 188.00 188.00 -
EPS (Riyals) (0.54) (0.57) (6.6 %)

Q4 2022 net loss stood at SAR 107.8 million, versus SAR 101.07 million in Q4 2021.

 

On a sequential basis, SGS widened net loss from SAR 50.85 million in Q3 2022.

 

Shareholders’ equity, excluding minority interest, reached SAR 2.10 billion as of Dec. 31, 2022, compared to SAR 2.26 billion in a year earlier period.

View More Financial Results

 

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.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

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

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
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.