Retailing and Operation Division

Saudi Automotive Services Co. (SASCO) announces interim financial results for the period Ending on March 31, 2022 (Three months)

24 April 2022
Retailing and Operation Division

ELEMENT LIST

CURRENT QUARTER

SIMILAR QUARTER FOR PREVIOUS YEAR

%CHANGE

PREVIOUS QUARTER

% CHANGE

Sales/Revenue

1,272.47

750.54

69.54

1,214.41

4.78

Gross Profit (Loss)

35.65

37.65

-5.312

43.1

-17.285

Operational Profit (Loss)

20.42

23.53

-13.217

26.39

-22.622

Net Profit (Loss) after Zakat and Tax

8.02

12.01

-33.222

15.35

-47.752

Total Comprehensive Income

13.01

12.95

0.463

12.63

3.008

All figures are in (Millions) Saudi Arabia, Riyals

 

ELEMENT LIST

CURRENT PERIOD

SIMILAR PERIOD FOR PREVIOUS YEAR

%CHANGE

Total Share Holders Equity (after Deducting Minority Equity)

824.95

817.7

0.886

Profit (Loss) per Share

0.13

0.2

All figures are in (Millions) 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 decrease in net profit during the current quarter compared to the same quarter of the previous year is due to the decrease in gross profit due to the inclusion in the same quarter of the previous year on stock adjustments resulting from the change in fuel prices, in addition to the suspension of some sites for development, a decrease in the income margin from diesel and an increase in costs Operating, G&A expenses, financing costs, increase in IFRS 16 impact, and a decrease in investment profits, despite the increase in sales Volume and other income.

The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is

The reason for decrease in net profit during the current quarter compared to the previous quarter is due to the increase in the cost of sales due to the suspension of some development sites, the decrease in the income margin from diesel and increase in operating costs, increase in IFRS 16 impact, and inclusion of the previous quarter on dividend income despite the decrease in G&A expenses, marketing expenses and financing costs and increase in the sales Volume and other revenues.

Statement of the type of external auditor's report

Unmodified conclusion

Reclassification of Comparison Items

Certain of the prior period amount have been reclassified to conform with the presentation in the current period.

Additional Information

The realized profit from liquidating company’s portfolio amounted of 8 million SR was included in comprehensive income, minus the valuation of the portfolio on December 31, 2021.

Attached Documents