Financial Results : SGS net profit jumps 55% to SAR 327M in 2024; Q4 at SAR 95.8M

SGS net profit jumps 55% to SAR 327M in 2024; Q4 at SAR 95.8M

13/03/2025 Argaam Exclusive

View other reports

Saudi Ground Services Co. (SGS) reported a net profit of SAR 327 million in 2024, marking a rise of 55% from SAR 211.5 million in 2023.



Financials (M)

Item 2023 2024 Change‬
Revenues 2,458.89 2,683.84 9.1 %
Gross Income 409.01 620.94 51.8 %
Operating Income 176.03 257.18 46.1 %
Net Income 211.48 327.03 54.6 %
Average Shares 188.00 188.00 -
Earnings Per Share before unusual items (Riyals) 1.07 1.74 61.9 %
EPS (Riyal) 1.12 1.74 54.6 %

Revenue rose by SAR 224.9 million year-on-year (YoY) to SAR 2.68 billion in 2024, on increased domestic and international flights and a higher number of Umrah pilgrims across the year.

 

Other income increased by SAR 9.2 million or 17.7%. Finance costs and Zakat charges fell YoY by SAR 16.9 million and SAR 8.9 million, respectively.

 

On the other hand, administrative costs and impairment losses on trade and other receivables increased by SAR 59.4 million and SAR 71.4 million, respectively.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Revenues 621.83 675.48 8.6 %
Gross Income 86.78 214.69 147.4 %
Operating Income 43.35 87.38 101.6 %
Net Income 61.63 95.76 55.4 %
Average Shares 188.00 188.00 -
Earnings Per Share before unusual items (Riyal) 0.28 0.51 83.7 %
EPS (Riyal) 0.33 0.51 55.4 %

Q4 2024 net profit grew 55% to SAR 95.8 million, from SAR 61.6 million a year earlier.

 

On a quarterly basis, net earnings rose 17.2% from SAR 81.68 million in Q3 2024.

 

Total shareholders’ equity, after minority interest, stood at SAR 2.51 billion by Dec. 31, 2024, compared to SAR 2.33 billion a year earlier.

View more financial results

 

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.