Our News
Saudi Public Transport Company- (SAPTCO) announces its interim consolidated financial results for the period ending on 31-03-2024 (Three Months)
Saudi Public Transport Company- (SAPTCO) announces its interim consolidated financial results for the period ending on 31-03-2024 (Three Months).
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 308,517 | 307,668 | 0.275 | 372,241 | -17.119 |
| Gross Profit (Loss) | 14,367 | 10,203 | 40.811 | 22,472 | -36.067 |
| Operational Profit (Loss) | -18,009 | -27,072 | -33.477 | -57,403 | -68.627 |
| Net profit (Loss) | -48,629 | -47,397 | 2.599 | -68,916 | -29.437 |
| Total Comprehensive Income | -48,629 | -47,397 | 2.599 | -64,218 | -24.275 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (After Deducting the Minority Equity) | 864,990 | 900,657 | -3.96 |
| Profit (Loss) per Share | -0.39 | -0.36 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Percentage of the capital (%) | Amount | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -30.8 | -385,010 | |
| 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 of the operation during Ramadan season. |
| 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 increase in the losses during the current quarter compared to the same quarter of the previous year is due to:
1. Recognition of loss in the joint venture. 2. Recording of a higher amount of impairment on trade receivables. 3. Increase in cost of finance. However, the revenues has been increased during the current quarter compared to the same quarter of the last year due to increase of operation during Ramadan season. In addition to incremental other income, increase in finance income, and recognition of profit in the associate Company. Furthermore, the cost of revenues, selling and distribution expenses, general and administrative expenses and zakat expenses has been decreased in the current quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason of the decrease in the revenues in the current quarter compared to the previous quarter due to decrease 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 decrease in loss during the current quarter compared to the previous quarter is due to:
1. Decrease in the cost of revenue, general and administrative expenses, selling and distribution expenses, and zakat expenses. 2. Recognition of impairment of asset held for sell, and loss in the impairment of intangible assets during the previous quarter. 3. Recognition of higher impairment of trade receivable during the previous quarter. 4. Recognition of higher profit in associate Company in the current quarter. 5. Decrease in the other income and finance income. 6. Increase in the loss of the joint venture. 7. Increase in the cost of finance. |
| 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 | None |
| Additional Information |
- The losses per share for the current quarter was calculated based on the net losses for the quarter relating to the shareholders of the parent company amounting to (49) million riyals. Similarly, the losses per share for
the similar quarter of the previous year was calculated based on the net losses of the quarter relating to the shareholders of the parent company amounting to (44) million riyals.
- The accumulated losses as of 31/12/2023 amounted to (335.9) million riyals, which is equivalent to 26.87% of the company’s capital amounting to (1,250) million riyals, is increased to (385.01) million riyals, which is equivalent to 30.80% of the company’s capital amounting to (1,250) million riyals. The date of this increase was 31/03/2024 AD. The reason for the increase is due to recognized of a loss in the quarter one 2024. |