News

Saudi Public Transport Company - SAPTCO - announces its interim consolidated financial results for the period ending on 31-03-2025 (Three Months)

11-05-2025

Saudi Public Transport Company - SAPTCO - announces its interim consolidated financial results for the period ending on 31-03-2025 (Three Months).

Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Sales/Revenue 341,331 308,517 10.636 302,825 12.715
Gross Profit (Loss) 37,838 16,367 131.184 66,420 -43.032
Operational Profit (Loss) -1,698 -12,197 -86.078 8,039 -
Net profit (Loss) -20,071 -48,629 -58.726 -5,734 250.034
Total Comprehensive Income -20,071 -48,629 -58.726 11,482 -
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Total Shareholders Equity (after Deducting Minority Equity) 897,568 864,990 3.766
Profit (Loss) per Share -0.19 -0.39
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Amount Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value - -
Accumulated Losses -352,432 -28.19
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is The reason of the increase in the revenues in the current quarter compared to the same quarter of the last year due to increase in public transport operations.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is

The reason for the decrease in the losses during the current quarter compared to the same quarter of the previous year is due to:

  1. Increase of the operation revenue as a result of the increase in public transport operation.
  2. Recognition of profit in joint venture.
  3. Increase in associate Company profits.
  4. Increase in finance income.
  5. Decrease in finance cost.
  6. Recognition of lower impairment in trade receivable.

However, the cost of revenues, general and administrative expenses, selling and distribution and zakat and income tax expenses has been increased, addition to decrease in other income.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The reason of the increase in the revenues in the current quarter compared to the previous quarter due to increase in public transport operations.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is

The reason for the increase in loss during the current quarter compared to the previous quarter is due to:

  1. Increase in cost of revenues.
  2. Increase in selling and distribution expenses.
  3. Decrease in finance income.
  4. Increase in Zakat and income tax expenses.

However, revenue and other income has been increased, cost of finance has been decreased and recognition of profit in joint.

Furthermore, during the previous quarter recognition of impairment of assets held for sale, and higher impairment in trade receivables.
Statement of the type of external auditor's report Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) None
Reclassification of Comparison Items -
Additional Information - The loss per share for the current quarter was calculated based on a net loss attributable to the shareholders of the parent company amounting to SAR (24) million. In comparison, the loss per share for the same quarter of the previous year was based on a net loss of SAR (49) million attributable to the parent company's shareholders.

- As of December 31, 2024, the company’s accumulated losses stood at SAR (328.1) million, representing 26.25% of its capital of SAR 1,250 million. These accumulated losses increased to SAR (352.4) million, equal to 28.19% of the capital, as of March 31, 2025, due to the recognition of a loss in the first quarter of 2025.