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CATRION Catering Holding Co. announces its Interim Financial Results for the Period Ending on 30-09-2023 (Nine Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 566 | 502 | 12.75 | 497.1 | 13.86 |
| Gross Profit (Loss) | 156.3 | 147.7 | 5.82 | 124.9 | 25.14 |
| Operational Profit (Loss) | 96 | 84.2 | 14.01 | 68.4 | 40.35 |
| Net Profit (Loss) after Zakat and Tax | 92.3 | 71.2 | 29.63 | 63.7 | 44.9 |
| Total Comprehensive Income | 92.3 | 71.2 | 29.63 | 65.4 | 41.13 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 1,584.6 | 1,310 | 20.96 |
| Gross Profit (Loss) | 423.8 | 363.7 | 16.52 |
| Operational Profit (Loss) | 229.5 | 185.7 | 23.59 |
| Net Profit (Loss) after Zakat and Tax | 213.2 | 150 | 42.13 |
| Total Comprehensive Income | 214.9 | 150 | 43.27 |
| Total Share Holders Equity (after Deducting Minority Equity) | 1,211.8 | 1,022.5 | 18.51 |
| Profit (Loss) per Share | 2.6 | 1.83 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| 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 profit after Zakat for the 3rd quarter 2023 amounts to SAR 92.3 million as compared to SAR 71.2 million of the 3rd quarter 2022 is due to improved sales from inflight catering, remote sites catering, railways catering services and interest income from Murabaha investment deposits . The increase in number of flights and growth in customers operations from non-aviation catering segments led to a positive impact on the Saudi Airline Catering’s operations resulting in increase of revenue by 12.7% (amounting to SAR 64.0 million). |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The profit after Zakat increased by 44.9% to SAR 92.3 million from SAR 63.7 million. The turnover in 3rd quarter, 2023 had increased by 13.9% to SAR 566.0 million from SAR 497.1 million from 2nd quarter 2023. The increase in revenue was mainly from the in-flight catering followed by non-aviation segment. The increase in profit in 3rd quarter 2023 compared to 2nd quarter 2023 is due to increase in sales derived from increase in number of flights and operations in non-aviation segment. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Main reasons for the net profit after Zakat of SAR 213.2 million compared to previous year amount of net profit SAR 150.0 million is due to improved sales aligned with increase in-flight operations, increase in non-aviation business operations and interest income from Murabaha investment deposits. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | NA |
| Additional Information | On 27 Rabie Al-Awwal (corresponding to 12 October 2023), the shareholders’ approved in the Extraordinary General Assembly meeting to change the name of the Company from Saudi Airlines Catering Company to CATRION Catering Holding Company. All legal formalities were completed subsequent to the period end in relation to change of the name of the Group. |
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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