SAPTCO turns to SAR 375.2 mln loss in 2020

09/02/2021 Argaam Exclusive

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Saudi Public Transport Co. (SAPTCO) reported a net loss after Zakat and tax of SAR 375.2 million in 2020, versus a net profit of SAR 35.3 million a year earlier, hit by lower operating revenue amid the COVID-19 precautionary measures, impairment provisions on assets held for sale, and a decline in other revenues.

Moreover, the company reported a decrease in its profit share from an associate.

Financials (M)

Item	2019	2020	Change‬
Revenues	1,711.89	1,169.66	(31.7 %)
Gross Income	219.37	(120.14)	(154.8 %)
Operating Income	49.27	(258.66)	(625.0 %)
Net Income	35.32	(375.16)	(1162.1 %)
Average Shares	125.00	125.00	-
EPS (Riyals)	0.28	(3.00)	(1162.1 %)

In Q4 2020, SAPTCO incurred net losses of SAR 75.6 million.

Accumulated losses reached SAR 22.1 million, or 1.76% of total capital by the end of 2020.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2019	Q4 2020	Change‬
Revenues	386.66	312.93	(19.1 %)
Gross Income	14.91	(14.58)	(197.8 %)
Operating Income	(35.83)	(60.83)	(69.8 %)
Net Income	(41.56)	(75.59)	(81.9 %)
Average Shares	125.00	125.00	-
EPS (Riyals)	(0.33)	(0.60)	(81.9 %)

Item	Q3 2020	Q4 2020	Change‬
Revenues	313.93	312.93	(0.3 %)
Gross Income	(26.46)	(14.58)	44.9 %
Operating Income	(56.77)	(60.83)	(7.2 %)
Net Income	(120.95)	(75.59)	37.5 %
Average Shares	125.00	125.00	-
EPS (Riyals)	(0.97)	(0.60)	37.5 %

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