Saudi Airlines Catering Co. (Catering) reported a net profit surge to SAR 257.1 million for 2022, from SAR 14.1 million in 2021, thanks to an increase in commercial flights during the year. Revenue also leapt by 49.9%, or SAR 605.5 million, year-on-year (YoY).
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 1,212.51 | 1,818.01 | 49.9 % |
| Gross Income | 331.85 | 516.32 | 55.6 % |
| Operating Income | 57.62 | 258.26 | 348.2 % |
| Net Income | 14.06 | 257.10 | 1729.3 % |
| Average Shares | 82.00 | 82.00 | - |
| EPS (Riyals) | 0.17 | 3.14 | 1729.3 % |
In Q4 2022, net profit more than doubled to SAR 107.1 million, from SAR 46.1 million in the prior-year period.
The fourth-quarter net profit rose by 50.3% from SAR 71.2 million in Q3 2022.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 366.97 | 507.99 | 38.4 % |
| Gross Income | 124.92 | 152.66 | 22.2 % |
| Operating Income | 55.11 | 78.17 | 41.9 % |
| Net Income | 46.15 | 107.08 | 132.0 % |
| Average Shares | 82.00 | 82.00 | - |
| EPS (Riyals) | 0.56 | 1.31 | 132.0 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 501.96 | 507.99 | 1.2 % |
| Gross Income | 147.70 | 152.66 | 3.4 % |
| Operating Income | 81.94 | 78.17 | (4.6 %) |
| Net Income | 71.25 | 107.08 | 50.3 % |
| Average Shares | 82.00 | 82.00 | - |
| EPS (Riyals) | 0.87 | 1.31 | 50.3 % |
Shareholders’ equity, no minority interest, rose to SAR 1.11 billion as of Dec. 31 2022, from SAR 872.51 million a year earlier.
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