SAPTCO widens loss to SAR 54.5 mln for Q1 2021

29/04/2021 Argaam Exclusive

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Saudi Public Transport Co. (SAPTCO) widened net loss after Zakat and tax to SAR 54.5 million for Q1 2021, from SAR 39.9 million in the same quarter last year.

 

The increase in loss is driven by lower revenue on the precautionary measures to curb the COVID-19 outbreak, higher cost of financing, and lower profit from associates.

On a sequential basis, SAPTCO trimmed net loss after Zakat and tax by 28%, due to lower cost of revenue, decrease in loss from a joint venture, and lower Zakat expenses.



Current Quarter Comparison (M)

Compared With The
Item Q1 2020 Q1 2021 Change‬
Revenues 420.06 211.58 (49.6 %)
Gross Income 3.79 (12.97) (442.1 %)
Operating Income (27.37) (35.49) (29.7 %)
Net Income (39.98) (53.73) (34.4 %)
Average Shares 125.00 125.00 -
EPS (Riyals) (0.32) (0.43) (34.4 %)


Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 167.03 26.0 % 10.16 155.5 % (7.08) 80.2 %
Q2 2012 202.52 6.0 % 27.50 (24.3 %) 11.01 (43.0 %)
Q3 2012 239.32 9.3 % 43.28 (14.6 %) 15.97 (36.3 %)
Q4 2012 306.07 14.5 % 79.65 10.8 % 29.91 (38.9 %)
Q1 2013 202.69 21.4 % 27.94 175.0 % 9.11 228.7 %
Q2 2013 257.03 26.9 % 55.86 103.1 % 32.73 197.3 %
Q3 2013 224.84 (6.1 %) 11.77 (72.8 %) (15.26) (195.6 %)
Q4 2013 283.29 (7.4 %) 78.77 (1.1 %) 30.00 0.3 %
Q1 2014 231.31 14.1 % 41.48 48.4 % 20.44 124.3 %
Q2 2014 229.77 (10.6 %) 30.87 (44.7 %) 11.28 (65.6 %)
Q3 2014 272.83 21.3 % 44.97 281.9 % 11.92 178.1 %
Q4 2014 285.29 0.7 % 70.28 (10.8 %) 29.94 (0.2 %)
Q1 2015 238.82 3.2 % 37.09 (10.6 %) 10.28 (49.7 %)
Q2 2015 252.93 10.1 % 30.08 (2.6 %) 2.55 (77.4 %)
Q3 2015 360.90 32.3 % 123.15 173.9 % 80.99 579.6 %
Q4 2015 248.06 (13.1 %) 36.83 (47.6 %) (9.80) (132.7 %)
Q1 2016 257.00 7.6 % 44.33 19.5 % 16.81 63.5 %
Q2 2016 284.21 12.4 % 44.58 48.2 % 6.79 166.2 %
Q3 2016 375.56 4.1 % 125.18 1.6 % 92.91 14.7 %
Q4 2016 234.88 (5.3 %) 26.75 (27.4 %) (18.20) (85.7 %)
Q1 2017 228.99 (10.9 %) 15.70 (64.6 %) (11.82) (170.3 %)
Q2 2017 294.17 3.5 % 53.85 20.8 % 26.90 296.3 %
Q3 2017 385.50 2.6 % 108.59 (13.3 %) 78.08 (16.0 %)
Q4 2017 218.87 (6.8 %) (6.61) (124.7 %) (54.81) (201.2 %)
Q1 2018 234.18 2.3 % 3.04 (80.6 %) (19.77) (67.2 %)
Q2 2018 325.46 10.6 % 29.51 (45.2 %) (3.68) (113.7 %)
Q3 2018 464.85 20.6 % 140.27 29.2 % 103.93 33.1 %
Q4 2018 430.97 96.9 % (0.89) 86.5 % (59.89) (9.3 %)
Q1 2019 411.06 75.5 % (1.83) (160.1 %) (32.50) (64.4 %)
Q2 2019 428.87 31.8 % 29.49 (0.1 %) (2.02) 45.2 %
Q3 2019 485.31 4.4 % 172.50 23.0 % 119.62 15.1 %
Q4 2019 386.66 (10.3 %) 14.91 1775.5 % (35.83) 40.2 %
Q1 2020 420.06 2.2 % 3.79 307.3 % (27.37) 15.8 %
Q2 2020 122.75 (71.4 %) (82.89) (381.1 %) (113.69) (5,528.4 %)
Q3 2020 313.93 (35.3 %) (26.46) (115.3 %) (56.77) (147.5 %)
Q4 2020 312.93 (19.1 %) (14.58) (197.8 %) (60.83) (69.8 %)
Q1 2021 211.58 (49.6 %) (12.97) (442.1 %) (35.49) (29.7 %)


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 6.72 121.6 % 0.05 - (5.37) (0.04)
Q2 2012 16.99 (14.7 %) 0.14 - 16.27 0.13
Q3 2012 16.83 (35.9 %) 0.13 - 16.82 0.13
Q4 2012 33.28 (33.7 %) 0.27 - 32.38 0.26
Q1 2013 20.08 198.7 % 0.16 - 10.58 0.08
Q2 2013 36.21 113.1 % 0.29 - 36.71 0.29
Q3 2013 (13.11) (177.9 %) (0.10) - (13.11) (0.10)
Q4 2013 34.40 3.4 % 0.28 - 34.40 0.28
Q1 2014 21.10 5.1 % 0.17 - 20.69 0.17
Q2 2014 22.44 (38.0 %) 0.18 - 11.58 0.09
Q3 2014 23.79 281.5 % 0.19 - 11.75 0.09
Q4 2014 34.72 0.9 % 0.28 - 34.13 0.27
Q1 2015 137.91 553.7 % 1.10 - 19.09 0.15
Q2 2015 12.82 (42.9 %) 0.10 - 11.68 0.09
Q3 2015 81.40 242.1 % 0.65 - 77.72 0.62
Q4 2015 (35.51) (202.3 %) (0.28) - (28.05) (0.22)
Q1 2016 32.77 (76.2 %) 0.26 - 25.53 0.20
Q2 2016 10.66 (16.9 %) 0.09 - 10.31 0.08
Q3 2016 87.25 7.2 % 0.70 - 87.25 0.70
Q4 2016 1.82 105.1 % 0.01 - 1.82 0.01
Q1 2017 2.48 (92.4 %) 0.02 - 2.48 0.02
Q2 2017 38.66 262.8 % 0.31 - 38.66 0.31
Q3 2017 62.47 (28.4 %) 0.50 - 62.47 0.50
Q4 2017 (24.70) (1460.7 %) (0.20) - (24.70) (0.20)
Q1 2018 (4.86) (295.9 %) (0.04) - (4.86) (0.04)
Q2 2018 (30.30) (178.4 %) (0.24) - (2.62) (0.02)
Q3 2018 94.87 51.9 % 0.76 - 94.87 0.76
Q4 2018 (39.30) (59.1 %) (0.31) - (39.30) (0.31)
Q1 2019 (11.00) (126.4 %) (0.09) - (11.00) (0.09)
Q2 2019 (9.23) 69.6 % (0.07) - (9.23) (0.07)
Q3 2019 97.11 2.4 % 0.78 - 97.11 0.78
Q4 2019 (41.56) (5.8 %) (0.33) - (41.56) (0.33)
Q1 2020 (39.98) (263.6 %) (0.32) - (39.98) (0.32)
Q2 2020 (138.64) (1,402.8 %) (1.11) - (138.64) (1.11)
Q3 2020 (120.95) (224.6 %) (0.97) - (78.25) (0.63)
Q4 2020 (75.59) (81.9 %) (0.60) - (75.59) (0.60)
Q1 2021 (53.73) (34.4 %) (0.43) - (53.73) (0.43)

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 20.02 % 28.33 % 10.77 %
Q2 2012 18.72 % 27.41 % 10.19 %
Q3 2012 17.44 % 26.62 % 8.89 %
Q4 2012 17.55 % 24.11 % 6.57 %
Q1 2013 18.76 % 25.40 % 8.00 %
Q2 2013 20.57 % 26.75 % 9.60 %
Q3 2013 17.69 % 24.37 % 6.72 %
Q4 2013 18.01 % 24.80 % 7.09 %
Q1 2014 18.85 % 25.06 % 7.90 %
Q2 2014 16.81 % 23.25 % 5.53 %
Q3 2014 19.28 % 24.49 % 7.71 %
Q4 2014 18.41 % 24.73 % 7.67 %
Q1 2015 17.84 % 22.59 % 7.46 %
Q2 2015 17.37 % 20.32 % 7.30 %
Q3 2015 22.90 % 24.08 % 12.53 %
Q4 2015 20.64 % 20.29 % 7.31 %
Q1 2016 20.95 % 20.86 % 7.77 %
Q2 2016 21.64 % 21.07 % 7.43 %
Q3 2016 21.54 % 22.55 % 8.16 %
Q4 2016 20.91 % 22.32 % 10.84 %
Q1 2017 18.89 % 21.02 % 9.06 %
Q2 2017 19.54 % 23.59 % 11.49 %
Q3 2017 17.92 % 21.98 % 9.22 %
Q4 2017 15.21 % 20.10 % 7.00 %
Q1 2018 14.03 % 19.58 % 6.32 %
Q2 2018 11.56 % 16.41 % 2.60 %
Q3 2018 13.37 % 18.02 % 5.04 %
Q4 2018 11.81 % 14.73 % 3.30 %
Q1 2019 10.23 % 12.25 % 2.57 %
Q2 2019 9.62 % 11.40 % 2.04 %
Q3 2019 11.35 % 12.01 % 2.14 %
Q4 2019 12.56 % 13.70 % 2.06 %
Q1 2020 12.82 % 13.95 % 0.37 %
Q2 2020 7.66 % 9.09 % (8.70 %)
Q3 2020 (7.29 %) (3.95 %) (24.00 %)
Q4 2020 (10.27 %) (5.25 %) (28.42 %)
Q1 2021 (14.24 %) (7.41 %) (36.02 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 125.00 0.82 0.73 11.66
Q2 2012 125.00 0.80 0.70 11.22
Q3 2012 125.00 0.73 0.62 11.37
Q4 2012 125.00 0.59 0.48 11.66
Q1 2013 125.00 0.70 0.61 11.82
Q2 2013 125.00 0.85 0.77 11.59
Q3 2013 125.00 0.61 0.53 11.49
Q4 2013 125.00 0.62 0.55 11.76
Q1 2014 125.00 0.63 0.63 11.47
Q2 2014 125.00 0.52 0.43 11.59
Q3 2014 125.00 0.81 0.63 11.79
Q4 2014 125.00 0.82 0.63 11.95
Q1 2015 125.00 1.75 0.61 13.07
Q2 2015 125.00 1.67 0.61 11.97
Q3 2015 125.00 2.13 1.14 12.42
Q4 2015 125.00 1.57 0.64 12.18
Q1 2016 125.00 0.73 0.70 12.38
Q2 2016 125.00 0.71 0.68 12.02
Q3 2016 125.00 0.76 0.76 12.61
Q4 2016 125.00 1.06 1.00 12.82
Q1 2017 125.00 0.82 0.81 12.34
Q2 2017 125.00 1.04 1.04 12.71
Q3 2017 125.00 0.84 0.84 13.19
Q4 2017 125.00 0.63 0.63 12.96
Q1 2018 125.00 0.57 0.57 13.02
Q2 2018 125.00 0.02 0.24 12.33
Q3 2018 125.00 0.28 0.50 13.06
Q4 2018 125.00 0.16 0.38 12.68
Q1 2019 125.00 0.11 0.34 12.71
Q2 2019 125.00 0.28 0.28 12.64
Q3 2019 125.00 0.30 0.30 13.39
Q4 2019 125.00 0.28 0.28 13.07
Q1 2020 125.00 0.05 0.05 12.61
Q2 2020 125.00 (0.98) (0.98) 11.58
Q3 2020 125.00 (2.73) (2.39) 10.75
Q4 2020 125.00 (3.00) (2.66) 10.17
Q1 2021 125.00 (3.11) (2.77) 9.74

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 22.80 25.84 1.61
Q2 2012 17.23 19.77 1.23
Q3 2012 23.08 26.88 1.47
Q4 2012 27.94 34.32 1.42
Q1 2013 23.09 26.46 1.36
Q2 2013 18.15 20.01 1.33
Q3 2013 34.66 39.81 1.85
Q4 2013 43.66 49.39 2.30
Q1 2014 44.37 44.32 2.43
Q2 2014 72.31 87.53 3.23
Q3 2014 47.84 62.05 3.30
Q4 2014 29.40 38.39 2.01
Q1 2015 16.28 46.54 2.18
Q2 2015 16.35 44.63 2.29
Q3 2015 8.31 15.56 1.43
Q4 2015 10.66 26.06 1.38
Q1 2016 16.57 17.45 0.98
Q2 2016 18.88 19.72 1.12
Q3 2016 15.25 15.27 0.92
Q4 2016 14.32 15.19 1.18
Q1 2017 17.85 17.91 1.18
Q2 2017 13.43 13.43 1.10
Q3 2017 17.30 17.30 1.11
Q4 2017 25.54 25.54 1.24
Q1 2018 28.26 28.26 1.24
Q2 2018 More than 100 60.24 1.18
Q3 2018 50.12 27.99 1.08
Q4 2018 85.48 36.28 1.10
Q1 2019 More than 100 43.02 1.14
Q2 2019 48.02 48.02 1.07
Q3 2019 54.93 54.93 1.23
Q4 2019 63.63 63.63 1.38
Q1 2020 More than 100 More than 100 0.93
Q2 2020 NEG NEG 1.22
Q3 2020 NEG NEG 1.69
Q4 2020 NEG NEG 1.76
Q1 2021 NEG NEG 2.67

Business Segments (Million)

Compared With The
Period passenger transport segment Public transportation project Specialized Services Digital mobility solutions The main center Consolidation adjustments & eliminations
Q1 2012 124.99 - 34.08 - 7.96 -
Q2 2012 144.58 - 45.22 - 12.72 -
Q3 2012 187.00 - 36.82 - 15.49 -
Q4 2012 159.17 - 132.84 - 14.07 -
Q1 2013 145.80 - 41.59 - 15.30 -
Q2 2013 188.07 - 51.54 - 17.43 -
Q3 2013 171.24 - 35.47 - 18.12 -
Q4 2013 152.60 - 112.75 - 17.94 -
Q1 2014 148.11 - 66.07 - 17.14 -
Q2 2014 149.33 - 59.60 - 20.84 -
Q3 2014 194.28 - 49.77 - 28.78 -
Q4 2014 156.70 - 106.80 - 21.79 -
Q1 2015 157.40 - 59.58 - 21.84 -
Q2 2015 171.90 - 50.46 - 30.58 -
Q3 2015 219.06 - 117.79 - 24.06 -
Q4 2015 151.02 - 60.98 - 37.32 -
Q1 2016 170.55 15.87 51.44 - 20.59 (1.45)
Q2 2016 184.82 19.26 55.78 - 22.91 -
Q3 2016 202.55 15.20 139.96 - 17.84 -
Q4 2016 187.31 28.68 80.22 - (61.34) -
Q1 2017 147.62 19.54 61.84 - - -
Q2 2017 192.41 17.44 60.57 - 23.76 -
Q3 2017 171.30 17.82 176.66 - 19.73 -
Q4 2017 177.41 21.94 81.17 - (61.65) -
Q1 2018 144.48 28.49 61.20 - - -
Q2 2018 193.89 57.80 73.77 - - -
Q3 2018 193.21 83.99 187.66 - - -
Q4 2018 143.61 233.37 53.99 - - -
Q1 2019 141.03 215.18 54.84 - - -
Q2 2019 185.83 187.00 56.04 - - -
Q3 2019 179.93 105.68 199.71 - - -
Q4 2019 160.19 167.11 59.35 - - -
Q1 2020 134.54 237.39 48.13 - - -
Q2 2020 13.62 94.72 14.40 - - -
Q3 2020 85.74 203.90 24.29 - - -
Q4 2020 116.26 174.54 22.13 - - -
Q1 2021 102.91 81.90 26.77 - - -

Current
Market Cap (M Riyal) 2,350.00
Enterprise Value (EV) (M) 3,277.35
Shares Outstanding ((M)) 125.00
EPS ( Riyal) (TTM) (0.32)
Book Value (BV) ( Riyal) 6.92
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/book 2.72
Return on Average Assets (%) (TTM) (0.98 )
Return on Average Equity (%) (TTM) (4.56 )

Share Price

Saudi Public Transport Co. (SAPTCO)


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