CATRION Catering Holding Co. announces its Annual Financial results for the period ending on 2023-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 2,133,762 | 1,818,006 | 17.37 | ||
| Gross Profit (Loss) | 565,993 | 516,320 | 9.62 | ||
| Operational Profit (Loss) | 304,369 | 283,964 | 7.18 | ||
| Net profit (Loss) | 282,658 | 257,103 | 9.94 | ||
| Total Comprehensive Income | 289,142 | 247,407 | 16.87 | ||
| Total Share Holders Equity (After Deducting the Minority Equity) | 1,286,068 | 1,119,926 | 14.84 | ||
| Profit (Loss) per Share | 3.45 | 3.14 | |||
| 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 year compared to the last year | The Company experienced a remarkable increase in revenue from SAR 1,818.0 million to SAR 2,133.8 million in 2023, as compared to 2022. This translates to a year-on-year growth of 17.4%. The surge in sales can be attributed to the inflight catering segment as well as non-aviation catering services, such as catering to remote sites and healthcare customers. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The Company has reported a net profit after Zakat of SAR 282.7 million for the year 2023, compared to a profit of SAR 257.1 million in the previous year of 2022. Additionally, the Company reported a total comprehensive income of SAR 289.1 million for the current year, as compared to the comprehensive income of SAR 247.4 million for the previous year. The increase in profit and income is due to an expansion in sales derived from an increase in flight and non-aviation business operations.
The profit per share amounted to SAR 3.45 in 2023, compared to SAR 3.14 in the previous year, representing an increase of 9.9%. The gross profit amounted to SAR 566.0 million in 2023, compared to SAR 516.3 million in the previous year, representing an increase of 9.6%. The operational profit amounted to SAR 304.4 million in 2023, compared to SAR 284.0 million in the previous year, representing a increase of 7.2%. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | NA |
| Reclassification of Comparison Items | NA |
| Additional Information | On 27 Rabie Al-Awwal 1445H (corresponding to 12 October 2023), the shareholders’ approved in the Extraordinary General Assembly meeting to change the name of the Company from Saudi Airlines Catering Company to CATRION Catering Holding Company. All legal formalities were completed subsequent to the period end in relation to change of the name of the Group. |
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