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Saudi Public Transport Company (SAPTCO) announces consolidated annual financial results for the period ended December 31, 2023
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 1,569,656 | 1,319,467 | 18.96 | ||
| Gross Profit (Loss) | 270,725 | 176,083 | 53.75 | ||
| Operational Profit (Loss) | 60,082 | -41,695 | - | ||
| Net profit (Loss) | -24,177 | -96,354 | -74.91 | ||
| Total Comprehensive Income | -19,479 | -109,841 | -82.27 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 914,085 | 945,085 | -3.28 | ||
| Profit (Loss) per Share | -0.28 | -0.73 | |||
| 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 | -335,915 | 26.87 | |
| 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 increase in revenues in 2023 compared to 2022 is due to: Revenue increased due to an increase in public transport operations, and Ramadan and Hajj season. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The (decrease) in losses in 2023 compared to 2022 is due to: 1- Revenue increased due to an increase in public transport operations, and Ramadan and Hajj season, which added significantly to the revenue. An increase in operations and revenue is directly proportionate to the cost of revenues, selling and distribution expenses, general and administrative expenses, cost of finance, and the Zakat expenses. 2- Recognition of lower impairment in the non-current assets and lower amount of impairment on receivables in the current year. 3-Lower loss recognized in associate company in the current year. 4- Increase in financing income. 5- Recognition of impairment in assets held for sale in the current year. 6- Recognition of higher losses in joint venture in the current year. 7- Decreased in the other income. |
| 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 losses per share for the current year was calculated based on the net losses for the year attributable to the shareholders of the parent company amounting to approximately (35.6) million riyals. Similarly, the losses per share for the previous year was calculated based on the net losses attributable to the shareholders of the parent company amounting to approximately (90.9) million riyals. - The accumulated losses as of 30/09/2023 amounted to (268.7) million riyals, which is equivalent to 21.49% of the company’s capital amounting to (1,250) million riyals, is increased to (335.9) million riyals, which is equivalent to 26.87% of the company’s capital amounting to (1,250) million riyals. The date of this increase was 12/31/2023 AD. The reason for the increase is due to recognized of a loss in quarter four 2023. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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