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The Saudi Public Transport Company (SAPTCO) announces its Interim Financial Results for the Period Ending on 2023-06-30 (Six Months)
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 457,898 | 310,359 | 47.54 | 307,668 | 48.83 |
| Gross Profit (Loss) | 121,960 | 43,806 | 178.41 | 10,203 | 1,095.33 |
| Operational Profit (Loss) | 70,462 | 14,357 | 390.78 | -27,072 | - |
| Net Profit (Loss) after Zakat and Tax | 58,542 | -464 | - | -47,397 | - |
| Total Comprehensive Income | 58,542 | -464 | - | -47,397 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 765,566 | 609,672 | 25.57 |
| Gross Profit (Loss) | 132,163 | 69,188 | 91.02 |
| Operational Profit (Loss) | 43,390 | 5,156 | 741.54 |
| Net Profit (Loss) after Zakat and Tax | 11,145 | -2,557 | - |
| Total Comprehensive Income | 11,145 | -2,557 | - |
| Total Share Holders Equity (after Deducting Minority Equity) | 961,133 | 1,048,086 | -8.3 |
| Profit (Loss) per Share | 0.13 | -0.01 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| -288,867 | 1,250,000 | -23.11 | |
| All figures are in (Thousands) 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 reason for the profit during the current quarter compared to the loss in the same quarter of the previous year is due to: 1. Revenue is increased due to during Hajj season which added significantly to the revenue. Increase in operations and revenue is directly proportionate to the cost of revenues, selling and distribution expenses, general and administrative expenses. In addition, increased cost of finance and recognition of loss in associated entity. Few other factors included: 2. Recognition of higher Impairment of receivable in the same quarter of previous year. 3. Incremental other income during the current quarter. |
| 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 reason for profits during the current quarter compared to the losses in the previous quarter of the current year is due to: 1 Revenue is increased due to Hajj season which added significantly to the revenue. Increase in operations and revenue is directly proportionate to the cost of revenues, selling and distribution expenses, general and administrative. Further, recognition of losses in joint venture and higher losses of associated entity. Few other factors included: 2. Increase in other revenues. 3. Reduction in finance cost and Zakat expenses. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason for the profits during the current period compared to the same period of the previous year is due to: 1 Revenue is increased due to Ramadan and Hajj season which added significantly to the revenue. Increase in operations and revenue is directly proportionate to the cost of revenues, selling and distribution expenses, general and administrative. However, cost of finance has increased when compared to previous period. Few other factors included: 2. Recognition of higher losses in joint venture in the same period of previous year. 3. Recognition of higher Impairment of receivable in the same period of previous year. 4. Reversal of impairment on assets held for sales in the same period of previous year. 5. Recognition of higher losses in associates in the current period. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | _ |
| Reclassification of Comparison Items | _ |
| Additional Information | - The profit per share for the current quarter was calculated based on the net profit for the current quarter relating to the shareholders of the parent company amounting to SAR 60,476 thousand. Similarly, the profit per share for the same quarter of the previous year was calculated based on the net profit relating to the shareholders of the parent company amounting to SAR 1,974 thousand. - The profit per share for the current period was calculated based on the net profit for the current period relating to the shareholders of the parent company amounting to SAR 16,048 thousand. Similarly, the losses per share for the same period of the previous year was calculated based on the net losses relating to the shareholders of the parent company amounting to SAR (1,564) thousand. - The accumulated losses were SAR (349.3) million as of 30/Mar/2023, representing 27.95% of the share capital of SAR 1,250 million, decreased to SAR (288.9) million as of 30/June/2023, representing 23.11% of the share capital. The decrease in the accumulated losses was consequent to the profit realized during quarter two 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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