Financial Results : CATRION profit rises 10% to SAR 282.7M in 2023; Q4 at SAR 69.5M

CATRION profit rises 10% to SAR 282.7M in 2023; Q4 at SAR 69.5M

24/03/2024 Argaam Exclusive

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CATRION Catering Holding Co. reported a net profit of SAR 282.7 million for 2023, up 10 % from SAR 257.1 million in 2022, boosted by the positive performance of inflight and non-aviation catering segments.



Financials (M)

Item 2022 2023 Change‬
Revenues 1,818.01 2,133.76 17.4 %
Gross Income 516.32 565.99 9.6 %
Operating Income 258.26 276.30 7.0 %
Net Income 257.10 282.66 9.9 %
Average Shares 82.00 82.00 -
Earnings Per Share before unusual items (Riyals) 2.88 3.22 11.8 %
EPS (Riyal) 3.14 3.45 9.9 %

Revenue soared 17.4% to SAR 2.13 billion in 2023 from SAR 1.81 billion a year earlier, driven by the inflight catering segment as well as non-aviation catering services, such as catering to remote sites and healthcare customers.

 

Net profit dropped 35% YoY to SAR 69.5 million in Q4 2023.

 

Compared to Q3, the fourth-quarter net profit fell 24.8% from SAR 92.35 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Revenues 507.99 549.13 8.1 %
Gross Income 152.66 142.19 (6.9 %)
Operating Income 78.17 72.19 (7.7 %)
Net Income 107.08 69.45 (35.1 %)
Average Shares 82.00 82.00 -
Earnings Per Share before unusual items (Riyal) 1.05 0.79 (25.0 %)
EPS (Riyal) 1.31 0.85 (35.1 %)

Shareholders’ equity, no minority interest, rose to SAR 1.28 billion as of Dec. 31, 2023, from SAR 1.11 billion a year earlier.

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