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CATRION Catering Holding Co. announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 589,387 | 552,813 | 6.615 | 594,432 | -0.848 |
| Gross Profit (Loss) | 169,890 | 152,457 | 11.434 | 174,542 | -2.665 |
| Operational Profit (Loss) | 86,943 | 71,915 | 20.896 | 100,311 | -13.326 |
| Net profit (Loss) | 74,778 | 71,228 | 4.983 | 98,738 | -24.266 |
| Total Comprehensive Income | 74,778 | 71,228 | 4.983 | 96,380 | -22.413 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 1,432,293 | 1,267,097 | 13.037 |
| Profit (Loss) per Share | 0.91 | 0.87 | |
| 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 | - | - | |
| 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 | During the first quarter of 2025, the Company recorded a notable increase in its revenue stream. Specifically, revenue grew by 6.6%, rising from SAR 552.8 million in the first quarter of 2024 to SAR 589.4 million in the first quarter of 2025. The primary driver of this growth was the strong performance in in-flight catering revenue, supported by steady improvements in non-airlines and business lounge revenue streams. This positive development in revenues contributed to an overall enhancement in the Company’s financial performance during the period. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | During the first quarter of 2025, the Company reported a net profit after Zakat of SAR 74.8 million, compared to SAR 71.2 million in the same quarter of 2024, representing an increase of 5.0%. This growth in net profit was mainly driven by the increased sales, particularly from in-flight catering operations, along with improved performance in the business lounge and non-airlines revenues. In the first quarter of 2025, the earnings per share (EPS) amounted to SAR 0.91, compared to SAR 0.87 in the first quarter of 2024, reflecting an improvement of 4.6%. The gross profit for the first quarter of 2025 reached SAR169.9 million, an increase of 11.4% from SAR152.5 million reported in the same quarter of 2024. Furthermore, the operational profit for the first quarter of 2025 amounted to SAR 86.9 million, representing a growth of 20.9% compared to SAR 71.9 million in the same quarter of 2024. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | During the first quarter of 2025, the Company recorded a slight decrease of 0.8% in revenues compared to the previous quarter. Revenue declined from SAR 594.4 million in the fourth quarter of 2024 to SAR 589.4 million in the first quarter of 2025. This marginal decline was primarily attributable to the seasonality effect typically observed in the first quarter, including the impact of the holy month of Ramadan, which affected business lounge revenue and retail segments. Despite the slight reduction in revenue, the Company continued to demonstrate resilience through strong performance in its core in-flight catering operations and remains focused on implementing growth strategies across diversified revenue streams. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The Company announced a net profit of SAR 74.8 million after Zakat for the first quarter of 2025, representing a decrease of 24.3% compared to the previous quarter’s profit of SAR 98.7 million. This decrease in net profit is primarily attributable to the seasonality effect typically observed during the first quarter, including the impact of the holy month of Ramadan, which affected the performance of certain business segments. Additionally, the decrease reflects the impact of the new major lease contract signed with Jeddah Airports Company (JEDCO) during the period. In accordance with IFRS 16 accounting standards, the new lease agreement has resulted in higher depreciation and finance costs recognized in the current quarter, thereby contributing to the decline in net profit. The earnings per share amounted to SAR 0.91 in the first quarter of 2025, compared to SAR 1.20 in the previous quarter, reflecting a decrease of 24.2%. The gross profit amounted to SAR169.9 million in the first quarter of 2025, compared to SAR 174.5 million in the prior quarter, reflecting a decrease of 2.7%. The operational profit amounted to SAR 86.9 million in the first quarter of 2025, compared to SAR 100.3 million in the prior quarter, reflecting a decrease of 13.3%. This decline reflects the seasonal slowdown typically experienced during the first quarter, alongside the financial impact of newly commenced long-term lease agreements. In line with IFRS 16 requirements, the new lease arrangement increased finance costs during the period. |
| 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 | NA |
| Additional Information | - |
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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