SASCO 2021 net profit up 27% to SAR 50.8 mln; Q4 earnings at SAR 15.3 mln

SASCO 2021 net profit up 27% to SAR 50.8 mln; Q4 earnings at SAR 15.3 mln

10/03/2022 Argaam Exclusive

View other reports

Saudi Automotive Services Co. (SASCO) reported a 27% rise in the 2021 net profit after Zakat and tax to SAR 50.8 million, from SAR 40.1 million a year earlier.



Financials (M)

Item 2020 2021 Change‬
Revenues 2,136.24 4,061.64 90.1 %
Gross Income 150.26 159.30 6.0 %
Operating Income 104.34 104.30 0.0 %
Net Income 40.13 50.84 26.7 %
Average Shares 70.00 70.00 -
EPS (Riyals) 0.57 0.73 26.7 %

The higher profit was driven by better sales volumes and gross profit. Moreover, the company reported an increase in investment income and lower credit loss provisions and Zakat expenses.

 

In Q4 2021, the company reported a net profit after Zakat and tax of SAR 15.3 million, a rise of 52% year-on-year (YoY).

 

On a sequential basis, Q4 net profit climbed 34.5% from SAR 11.40 million.



Current Quarter Comparison (M)

Compared With The
Item Q4 2020 Q4 2021 Change‬
Revenues 610.97 1,214.42 98.8 %
Gross Income 34.26 50.30 46.8 %
Operating Income 19.59 30.65 56.5 %
Net Income 10.12 15.35 51.7 %
Average Shares 70.00 70.00 -
EPS (Riyals) 0.14 0.22 51.7 %

Shareholders’ equity, excluding minority interest, edged up to SAR 811.94 million in 2021, compared to SAR 804.75 million in 2020.



Financial results (Million)

Period Revenues Change Gross Income Change Operating Income Change
Q1 2012 75.00 52.2 % 4.75 1.2 % 0.08 (90.2 %)
Q2 2012 86.85 46.3 % 8.38 30.7 % 4.71 56.0 %
Q3 2012 91.96 34.5 % 7.61 9.2 % 2.76 (4.2 %)
Q4 2012 91.17 36.2 % 7.26 78.9 % - -
Q1 2013 91.36 21.8 % 7.46 57.0 % 2.01 2289.3 %
Q2 2013 98.88 13.8 % 11.42 36.3 % 4.18 (11.2 %)
Q3 2013 93.35 1.5 % 9.32 22.5 % 3.24 17.4 %
Q4 2013 85.32 (6.4 %) 5.88 (19.0 %) - -
Q1 2014 97.98 7.2 % 9.20 23.3 % 3.23 60.8 %
Q2 2014 113.40 14.7 % 12.55 9.9 % 5.13 22.6 %
Q3 2014 123.57 32.4 % 9.42 1.1 % 2.87 (11.3 %)
Q4 2014 118.46 38.8 % 6.03 2.6 % - -
Q1 2015 126.54 29.1 % 10.03 9.0 % 3.02 (6.3 %)
Q2 2015 159.53 40.7 % 13.45 7.2 % 4.89 (4.7 %)
Q3 2015 191.60 55.1 % 17.11 81.5 % 7.45 159.5 %
Q4 2015 187.37 58.2 % 11.12 84.4 % - -
Q1 2016 270.95 114.1 % 12.63 25.9 % 3.53 16.9 %
Q2 2016 274.97 72.4 % 12.38 (8.0 %) 2.92 (40.2 %)
Q3 2016 272.49 42.2 % 17.71 3.5 % 6.50 (12.7 %)
Q4 2016 275.72 47.1 % 15.38 38.3 % - -
Q1 2017 282.03 4.1 % 14.66 16.1 % 6.02 70.4 %
Q2 2017 309.38 12.5 % 21.11 70.4 % 12.74 336.2 %
Q3 2017 304.99 11.9 % 19.20 8.4 % 10.01 53.9 %
Q4 2017 315.93 14.6 % 24.52 59.5 % - -
Q1 2018 459.95 63.1 % 18.77 28.0 % 9.70 61.0 %
Q2 2018 522.27 68.8 % 16.76 (20.6 %) 7.17 (43.7 %)
Q3 2018 524.60 72.0 % 18.72 (2.5 %) 10.63 6.2 %
Q4 2018 549.26 73.9 % 27.73 13.1 % - -
Q1 2019 560.88 21.9 % 19.75 5.2 % 6.89 (29.0 %)
Q2 2019 592.95 13.5 % 22.82 36.2 % 11.53 60.8 %
Q3 2019 647.27 23.4 % 22.08 17.9 % 12.90 21.3 %
Q4 2019 681.75 24.1 % 93.94 238.8 % - -
Q1 2020 641.07 14.3 % 30.32 53.5 % 17.13 148.7 %
Q2 2020 297.37 (49.8 %) 46.00 101.6 % 39.28 240.6 %
Q3 2020 586.83 (9.3 %) 39.68 79.7 % 28.34 119.7 %
Q4 2020 610.97 (10.4 %) 34.26 (63.5 %) 19.59 -
Q1 2021 750.54 17.1 % 37.65 24.2 % 23.53 37.4 %
Q2 2021 955.87 221.4 % 34.94 (24.0 %) 26.06 (33.7 %)
Q3 2021 1,140.82 94.4 % 36.41 (8.2 %) 23.55 (16.9 %)
Q4 2021 1,214.42 98.8 % 50.30 46.8 % 30.65 56.5 %
2021 4,061.64 90.1 % 159.30 6.0 % 104.30 0.0 %


Profit Performance (Million)

Period Net Income Change EPS(Riyal) Extraordinary Income/Expense Net Profit Before Unusual Items EPS Before XO Items
Q1 2012 25.78 4269.3 % 0.37 - 25.78 0.37
Q2 2012 9.39 (38.7 %) 0.13 - 9.39 0.13
Q3 2012 2.39 (63.7 %) 0.03 - 2.39 0.03
Q4 2012 7.50 (57.3 %) 0.11 8.27 (0.77) (0.01)
Q1 2013 7.90 (69.4 %) 0.11 - 7.90 0.11
Q2 2013 10.27 9.4 % 0.15 - 10.27 0.15
Q3 2013 11.08 363.5 % 0.16 - 11.08 0.16
Q4 2013 10.56 40.8 % 0.15 8.70 1.86 0.03
Q1 2014 7.79 (1.4 %) 0.11 - 7.79 0.11
Q2 2014 23.06 124.6 % 0.33 18.82 4.24 0.06
Q3 2014 3.60 (67.5 %) 0.05 - 3.60 0.05
Q4 2014 - - - 42.61 - -
Q1 2015 3.23 (58.5 %) 0.05 - 3.23 0.05
Q2 2015 3.71 (83.9 %) 0.05 (3.62) 7.33 0.10
Q3 2015 6.48 79.8 % 0.09 - 6.48 0.09
Q4 2015 - - - - - -
Q1 2016 1.63 (49.7 %) 0.02 - 1.63 0.02
Q2 2016 4.54 22.4 % 0.06 - 4.54 0.06
Q3 2016 6.67 3.0 % 0.10 - 6.67 0.10
Q4 2016 6.69 - 0.10 4.40 2.29 0.03
Q1 2017 4.60 183.1 % 0.07 - 4.60 0.07
Q2 2017 6.37 40.1 % 0.09 - 6.37 0.09
Q3 2017 8.96 34.4 % 0.13 - 8.96 0.13
Q4 2017 4.91 (26.7 %) 0.07 - 4.91 0.07
Q1 2018 8.65 87.8 % 0.12 - 8.65 0.12
Q2 2018 9.21 44.7 % 0.13 - 9.21 0.13
Q3 2018 7.39 (17.6 %) 0.11 - 7.39 0.11
Q4 2018 0.03 (99.4 %) 0.00 - 0.03 0.00
Q1 2019 8.89 2.7 % 0.13 8.22 0.67 0.01
Q2 2019 5.12 (44.4 %) 0.07 - 5.12 0.07
Q3 2019 13.03 76.4 % 0.19 - 13.03 0.19
Q4 2019 20.95 72148.3 % 0.30 24.19 (3.24) (0.05)
Q1 2020 8.12 (8.6 %) 0.12 - 8.12 0.12
Q2 2020 4.44 (13.2 %) 0.06 (25.44) 29.88 0.43
Q3 2020 17.45 33.9 % 0.25 0.38 17.07 0.24
Q4 2020 10.12 (51.7 %) 0.14 4.12 6.00 0.09
Q1 2021 12.01 47.9 % 0.17 - 12.01 0.17
Q2 2021 12.08 172.2 % 0.17 - 12.08 0.17
Q3 2021 11.40 (34.6 %) 0.16 - 11.40 0.16
Q4 2021 15.35 51.7 % 0.22 - 15.35 0.22
2021 50.84 26.7 % 0.73 - 50.84 0.73

Profitability

Period Gross Margin OIBDA Margin Net Margin Before Unusual Items
Q1 2012 8.23 % - 24.20 %
Q2 2012 8.13 % - 19.97 %
Q3 2012 7.73 % - 17.19 %
Q4 2012 8.12 % - 10.66 %
Q1 2013 8.50 % - 5.23 %
Q2 2013 9.04 % - 5.30 %
Q3 2013 9.46 % - 7.60 %
Q4 2013 9.24 % - 8.43 %
Q1 2014 9.54 % - 8.25 %
Q2 2014 9.47 % - 6.40 %
Q3 2014 8.82 % - 4.16 %
Q4 2014 8.21 % - 3.45 %
Q1 2015 7.89 % - 2.30 %
Q2 2015 7.37 % - 2.68 %
Q3 2015 7.82 % - 2.86 %
Q4 2015 7.77 % - 2.56 %
Q1 2016 6.71 % - 1.91 %
Q2 2016 5.76 % - 1.37 %
Q3 2016 5.35 % - 1.28 %
Q4 2016 5.31 % - 1.38 %
Q1 2017 5.44 % - 1.64 %
Q2 2017 6.04 % - 1.75 %
Q3 2017 6.00 % - 1.90 %
Q4 2017 6.56 % - 2.05 %
Q1 2018 6.01 % - 2.08 %
Q2 2018 4.94 % - 1.98 %
Q3 2018 4.32 % - 1.65 %
Q4 2018 3.99 % - 1.23 %
Q1 2019 3.85 % - 0.80 %
Q2 2019 4.00 % - 0.59 %
Q3 2019 3.93 % - 0.80 %
Q4 2019 6.39 % - 0.63 %
Q1 2020 6.60 % - 0.90 %
Q2 2020 8.48 % - 2.11 %
Q3 2020 9.51 % - 2.35 %
Q4 2020 7.03 % 11.61 % 2.86 %
Q1 2021 7.02 % 11.69 % 2.89 %
Q2 2021 5.05 % 8.84 % 1.62 %
Q3 2021 4.14 % 7.45 % 1.20 %
Q4 2021 3.92 % 6.55 % 1.25 %
2021 3.92 % 6.56 % 1.25 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2012 70.00 0.93 0.93 7.88
Q2 2012 70.00 0.85 0.85 7.86
Q3 2012 70.00 0.79 0.79 7.92
Q4 2012 70.00 0.64 0.53 9.91
Q1 2013 70.00 0.39 0.27 9.93
Q2 2013 70.00 0.40 0.28 9.88
Q3 2013 70.00 0.52 0.41 10.11
Q4 2013 70.00 0.57 0.44 10.41
Q1 2014 70.00 0.57 0.44 10.60
Q2 2014 70.00 0.75 0.36 10.66
Q3 2014 70.00 0.64 0.25 10.23
Q4 2014 70.00 0.49 0.22 10.37
Q1 2015 70.00 0.43 0.16 10.43
Q2 2015 70.00 0.15 0.20 10.47
Q3 2015 70.00 0.19 0.24 10.44
Q4 2015 70.00 0.19 0.24 10.46
Q1 2016 70.00 0.17 0.22 11.44
Q2 2016 70.00 0.18 0.18 11.13
Q3 2016 70.00 0.18 0.18 11.15
Q4 2016 70.00 0.28 0.22 11.18
Q1 2017 70.00 0.32 0.26 11.31
Q2 2017 70.00 0.35 0.28 11.40
Q3 2017 70.00 0.38 0.32 11.54
Q4 2017 70.00 0.35 0.35 10.42
Q1 2018 70.00 0.41 0.41 10.54
Q2 2018 70.00 0.45 0.45 10.29
Q3 2018 70.00 0.43 0.43 10.39
Q4 2018 70.00 0.36 0.36 10.74
Q1 2019 70.00 0.36 0.25 9.99
Q2 2019 70.00 0.31 0.19 10.01
Q3 2019 70.00 0.39 0.27 10.18
Q4 2019 70.00 0.69 0.22 12.14
Q1 2020 70.00 0.67 0.33 12.21
Q2 2020 70.00 0.66 0.68 11.45
Q3 2020 70.00 0.73 0.74 11.74
Q4 2020 70.00 0.57 0.87 11.50
Q1 2021 70.00 0.63 0.93 11.68
Q2 2021 70.00 0.74 0.67 11.67
Q3 2021 70.00 0.65 0.59 11.59
Q4 2021 70.00 0.73 0.73 11.60

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E Price/book
Q1 2012 15.39 15.39 1.82
Q2 2012 11.51 11.51 1.24
Q3 2012 14.54 14.54 1.45
Q4 2012 16.78 20.55 1.09
Q1 2013 40.53 58.27 1.58
Q2 2013 33.10 46.95 1.34
Q3 2013 24.51 31.63 1.27
Q4 2013 25.56 32.71 1.40
Q1 2014 30.03 38.46 1.61
Q2 2014 23.84 50.12 1.68
Q3 2014 30.93 79.58 1.94
Q4 2014 30.56 67.36 1.45
Q1 2015 41.20 More than 100 1.69
Q2 2015 More than 100 More than 100 2.34
Q3 2015 85.40 67.25 1.57
Q4 2015 89.52 70.49 1.64
Q1 2016 74.86 57.29 1.10
Q2 2016 68.85 68.85 1.12
Q3 2016 50.52 50.52 0.83
Q4 2016 51.96 67.07 1.30
Q1 2017 42.04 52.26 1.20
Q2 2017 36.38 44.41 1.11
Q3 2017 38.67 46.33 1.27
Q4 2017 41.38 41.38 1.41
Q1 2018 33.03 33.03 1.29
Q2 2018 28.97 28.97 1.28
Q3 2018 30.57 30.57 1.27
Q4 2018 40.07 40.07 1.35
Q1 2019 39.00 57.53 1.42
Q2 2019 42.24 68.54 1.29
Q3 2019 46.12 66.23 1.75
Q4 2019 36.82 More than 100 2.08
Q1 2020 34.62 70.99 1.91
Q2 2020 33.26 32.39 1.93
Q3 2020 38.73 38.08 2.40
Q4 2020 46.05 30.26 2.30
Q1 2021 46.21 31.31 2.49
Q2 2021 42.45 46.49 2.68
Q3 2021 48.08 52.84 2.70
Q4 2021 36.23 36.23 2.27

Business Segments (Million)

Compared With The
Period The retail sector and operation (stations and Breathers) Transportation Fleet Saudi Autombile and Touring Association - SATA investment sector Consolidation adjustments & eliminations
Q3 2012 80.90 1.70 5.65 5.78 (2.06)
Q4 2012 78.36 1.85 6.17 14.58 (9.79)
Q1 2013 81.91 2.21 3.02 12.09 (7.87)
Q2 2013 96.14 - 9.17 - 7.87
Q3 2013 85.51 6.82 7.82 - (6.81)
Q4 2013 81.32 2.12 4.67 - (2.79)
Q1 2014 94.51 2.41 3.64 - (2.57)
Q2 2014 104.35 2.69 9.23 - (2.87)
Q3 2014 117.00 2.73 6.76 - (2.92)
Q4 2014 114.97 2.44 3.56 - (2.54)
Q1 2015 123.27 2.78 3.42 - (2.92)
Q2 2015 155.78 3.84 3.76 - (3.84)
Q3 2015 183.13 4.42 8.45 - (4.40)
Q4 2015 183.06 4.30 4.66 - (4.64)
Q1 2016 269.80 4.67 3.32 - (6.83)
Q2 2016 267.65 5.05 8.25 - (5.98)
Q3 2016 269.70 4.92 5.67 - (7.81)
Q4 2016 274.25 5.03 3.23 - (6.79)
Q1 2017 279.64 5.31 3.99 - (6.91)
Q2 2017 302.81 5.90 8.73 - (8.06)
Q3 2017 300.71 5.80 6.73 - (8.26)
Q4 2017 318.53 5.75 3.27 - (11.62)
Q1 2018 473.30 5.96 0.92 - (20.23)
Q2 2018 518.86 6.68 3.92 - (7.18)
Q3 2018 533.70 6.95 5.47 - (21.51)
Q4 2018 564.44 6.78 1.70 - (23.66)
Q1 2019 564.55 6.78 2.42 - (12.88)
Q2 2019 594.50 7.05 4.89 - (13.49)
Q3 2019 645.82 7.52 4.74 - (10.81)
Q4 2019 694.24 7.81 2.21 - (22.51)
Q1 2020 701.85 7.66 1.63 - (70.07)
Q2 2020 332.67 5.80 0.72 - (41.82)
Q3 2020 642.11 7.98 0.29 - (63.55)
Q4 2020 740.82 8.16 0.91 - (138.92)
Q1 2021 753.14 43.76 1.42 - (47.78)
Q3 2021 1,154.69 288.79 2.87 - (155.50)

Current
Market Cap (M Riyal) 4,480.00
Enterprise Value (EV) (M) 6,023.45
Shares Outstanding ((M)) 70.00
EPS ( Riyal) (TTM) 1.42
Book Value (BV) ( Riyal) 12.03
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) 45.01
Price/book 5.32
Return on Average Assets (%) (TTM) 1.6
Return on Average Equity (%) (TTM) 11.6

Share Price

64.00
(2.10) (3.18 %)

Saudi Automotive Services Co. (SASCO)


Comments {{getCommentCount()}}

Be the first to comment

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