| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 2,729,708 | 2,683,844 | 1.71 | ||
| Gross Profit (Loss) | 618,744 | 620,937 | -0.35 | ||
| Operational Profit (Loss) | 331,277 | 314,244 | 5.42 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 404,709 | 327,034 | 23.75 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 427,901 | 370,202 | 15.59 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 2,565,595 | 2,513,694 | 2.06 | ||
| Profit (Loss) per Share | 2.15 | 1.74 | |||
| 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 recorded total revenues for the current year amounting to SAR 2,729.7 million, representing a 1.7% (equivalent to SAR 45.9 million) increase compared to the last year, which recorded a revenue of SAR 2,683.8 million. The main reason of revenue increase is driven by the increased domestic and international flights compared to last year. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The Company reported an increase in net profits by SAR 77.7 million (23.8%) reaching a net profit of SAR 404.7 million during the current year compared to a net profit of SAR 327.0 million for the last year. This improvement was driven by the Company's productivity enhancement initiatives along with 1.7% increase in revenue compared to the last year. The Company reported gross profits amounting to SAR 618.7 million while maintaining a gross margin of 22.7%. The operating profit improved by SAR 17.0 million (5.4%) reaching SAR 331.3 million mainly due to reduction in impairment losses by SAR 50.6 million (53.8% ) as a result of management's continuous collection efforts. Moreover, net profits for the year improved mainly due to increase in share of profit from equity accounted investments by SAR 39.0 million and decline in zakat charge by SAR 25.7 million compared to last year primarily due to the reversal of provisions related to prior years. |
| 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) | None |
| Reclassification of Comparison Items | Certain of the prior year amounts have been reclassified to conform with the presentation in the current year. These changes have been made to improve the quality of the information presented. Such reclassification changes do not affect previously reported profit or equity. |
| Additional Information | The Company recorded revenue for the current year amounting to SAR 2,729.7 million, an increase of 1.7% compared to the previous year in which revenues amounted to SAR 2,683.8 million. The gross profit reached SAR 618.7 million compared to the gross profit of SAR 620.9 million for the last year, maintaining a gross margin of 22.7%. Operating profit for the current year is SAR 331.3 million compared to an operating profit of SAR 314.2 million for the last year, an increase of 5.4%. The net profit for the current year is SAR 404.7 million compared to net profit of SAR 327.0 million for the the last year with an increase of 23.8%. Total comprehensive income for the current year amounted to SAR 427.9 million compared to SAR 370.2 million during the previous year, an increase of 15.6%. The Company does not have minority rights as the total shareholders' equity reached SAR 2,565.6 million at the end of the current year compared to SAR 2,513.7 million as at the end of the last year, an increase of 2.1%. Earnings per share for the current year amounted to SAR 2.15 per share compared to SAR 1.74 per share an increase of 23.8%, compared to the last year. In addition, the retained earnings as of the end of current year is SAR 685.6 million, an increase of SAR 51.9 million compared to the previous year, in which the Company recorded a retained earnings of SAR 633.7 million. During the year, the Company distributed SAR 376.0 million dividends to shareholders. |
