News
Saudi Public Transport Company - SAPTCO - announces consolidated annual financial results for the period ended 31/12/2024
Saudi Public Transport Company - SAPTCO - announces consolidated annual financial results for the period ended 31/12/2024.
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,459,637 | 1,569,656 | -7.01 | ||
| Gross Profit (Loss) | 303,565 | 275,173 | 10.32 | ||
| Operational Profit (Loss) | 146,703 | 96,556 | 51.94 | ||
| Net profit (Loss) | 15,116 | -24,177 | - | ||
| Total Comprehensive Income | 32,332 | -19,479 | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 921,881 | 914,085 | 0.85 | ||
| Profit (Loss) per Share | -0.08 | -0.28 | |||
| 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 | -328,119 | -26.25 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The decrease in revenues in 2024 compared to 2023 is due to decreased in public transport operations as result of the end concession contract. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
The profit in 2024, compared to the losses in 2023, is primarily attributed to the following factors:
1- A decrease in cost of revenue and selling and distribution expenses. 2-The recognition of a profit from an associate company in the current year, compared to a loss in the previous year. 3- Increase in finance income 4- Recognition of a reversal of impairment on assets held for sale in the current year, in contrast to the impairment loss recognized in the prior year. However, a reduction in revenue, decline in other income, increase in finance costs, increase in Zakat expenses and increase in losses from joint ventures. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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 year was calculated based on the net losses attributable to the shareholders of the parent company, amounting to (9.6) million riyals. Similarly, the loss per share for the previous year
was calculated based on the net losses attributable to the shareholders of the parent company, totaling (35.6) million riyals.
- As of 30 September, 2024, the accumulated losses amounted to (334.8) million riyals, representing 26.78% of the company’s capital of 1,250 million riyals. By 31 December, 2024, these losses decreased to (328.1) million riyals, which is 26.25% of the company’s capital of 1,250 million riyals, following the recognition of comprehensive income in the fourth quarter of 2024. |