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.
| 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.
| 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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