Saudi Ground Services earns SAR 149.9 mln in 9M 2023, SAR 59.9 mln in Q3

05/11/2023 Argaam Exclusive

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Saudi Ground Services Co. (SGS) swung to a net profit of SAR 149.9 million in the first nine months of 2023, against a net loss of SAR 136.7 million in the prior-year period.

It also turned a profit of SAR 59.9 million in Q3 2023 from a net loss of SAR 50.8 million in Q3 2022.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Revenues	1,475.60	1,837.06	24.5 %
Gross Income	136.74	322.23	135.7 %
Operating Income	(66.80)	132.68	298.6 %
Net Income	(136.72)	149.85	209.6 %
Average Shares	188.00	188.00	-
EPS (Riyals)	(0.73)	0.80	209.6 %

The ground handling services provider cited a year-on-year (YoY) increase of 24%, or SAR 361.5 million, in revenues driven by better air traffic.

Gross profit also surged 136% YoY. The company’s share of profits from equity accounted investment and income from term deposits increased by SAR 20.1 million and SAR 31.3 million, respectively. Meanwhile, administrative expenses and Zakat provisions decreased YoY.

By contrast, the cost of revenues increased by 13%, or SAR 176 million, YoY due to the company’s initiatives to boost productivity and rationalize expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Revenues	555.09	646.72	16.5 %
Gross Income	43.98	119.47	171.7 %
Operating Income	(25.70)	52.74	305.2 %
Net Income	(50.85)	59.88	217.7 %
Average Shares	188.00	188.00	-
EPS (Riyals)	(0.27)	0.32	217.7 %

Item	Q2 2023	Q3 2023	Change‬
Revenues	626.47	646.72	3.2 %
Gross Income	102.12	119.47	17.0 %
Operating Income	44.17	52.74	19.4 %
Net Income	49.93	59.88	19.9 %
Average Shares	188.00	188.00	-
EPS (Riyals)	0.27	0.32	19.9 %

It also turned a profit of SAR 59.9 million in Q3 2023 from a net loss of SAR 50.8 million in Q3 2022, thanks to a 17% rise YoY in revenues amid better air traffic. Gross profit also saw a YoY spike of 172%. Income from term deposits grew by SAR 9.1 million.

Meanwhile, SGS recorded a decrease in administrative expenses and Zakat provision by SAR 4.5 million and SAR 13.7 million, respectively, compared to the same period of the previous year.

SGS bottom line jumped 19.9% quarter-on-quarter (QoQ) from SAR 49.9 million, thanks to 3% revenue growth.

Total shareholders’ equity, no minority interest, increased to SAR 2.25 billion as of Sept. 30, 2023, from SAR 2.12 billion in the year-earlier period.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
Q1 2014	-	-	-	-	-	-
Q2 2014	500.10	-	198.45	-	156.82	-
Q3 2014	625.52	-	246.84	-	180.72	-
Q4 2014	597.88	-	172.57	-	121.65	-
2014	2,408.03	12.3 %	881.73	5.6 %	626.65	0.2 %
Q1 2015	622.53	-	156.14	-	92.78	-
Q2 2015	610.80	22.1 %	224.24	13.0 %	172.85	10.2 %
Q3 2015	661.14	5.7 %	220.77	(10.6 %)	165.80	(8.3 %)
Q4 2015	646.04	8.1 %	236.03	36.8 %	164.20	35.0 %
2015	2,540.51	5.5 %	837.18	(5.1 %)	595.63	(5.0 %)
Q1 2016	685.76	10.2 %	257.00	64.6 %	195.75	111.0 %
Q2 2016	692.45	13.4 %	252.28	12.5 %	192.66	11.5 %
Q3 2016	741.27	12.1 %	251.31	13.8 %	190.80	15.1 %
Q4 2016	607.19	(6.0 %)	163.66	(30.7 %)	96.20	(41.4 %)
2016	2,726.67	7.3 %	924.24	10.4 %	675.42	13.4 %
Q1 2017	643.79	(6.1 %)	222.66	(13.4 %)	149.17	(23.8 %)
Q2 2017	659.26	(4.8 %)	246.56	(2.3 %)	120.25	(37.6 %)
Q3 2017	697.26	(5.9 %)	227.75	(9.4 %)	159.06	(16.6 %)
Q4 2017	585.23	(3.6 %)	177.46	8.4 %	63.54	(34.0 %)
2017	2,585.53	(5.2 %)	874.44	(5.4 %)	492.02	(27.2 %)
Q1 2018	621.81	(3.4 %)	180.82	(18.8 %)	106.93	(28.3 %)
Q2 2018	659.90	0.1 %	189.43	(23.2 %)	111.95	(6.9 %)
Q3 2018	700.67	0.5 %	166.49	(26.9 %)	85.50	(46.2 %)
Q4 2018	571.66	(2.3 %)	147.70	(16.8 %)	66.72	5.0 %
2018	2,554.04	(1.2 %)	684.44	(21.7 %)	371.10	(24.6 %)
Q1 2019	609.07	(2.0 %)	173.15	(4.2 %)	105.77	(1.1 %)
Q2 2019	648.02	(1.8 %)	194.30	2.6 %	125.11	11.8 %
Q3 2019	683.34	(2.5 %)	191.44	15.0 %	113.75	33.0 %
Q4 2019	599.33	4.8 %	127.62	(13.6 %)	71.23	6.8 %
2019	2,539.76	(0.6 %)	686.50	0.3 %	415.86	12.1 %
Q1 2020	512.17	(15.9 %)	107.16	(38.1 %)	(8.53)	(108.1 %)
Q2 2020	115.09	(82.2 %)	(129.89)	(166.9 %)	(196.19)	(256.8 %)
Q3 2020	267.90	(60.8 %)	(10.22)	(105.3 %)	(97.02)	(185.3 %)
Q4 2020	356.67	(40.5 %)	12.26	(90.4 %)	(103.27)	(245.0 %)
2020	1,251.84	(50.7 %)	(20.70)	(103.0 %)	(405.01)	(197.4 %)
Q1 2021	372.96	(27.2 %)	57.62	(46.2 %)	(16.25)	(90.6 %)
Q2 2021	374.82	225.7 %	10.84	108.3 %	(63.90)	67.4 %
Q3 2021	420.69	57.0 %	56.94	656.9 %	(32.01)	67.0 %
Q4 2021	439.46	23.2 %	69.59	467.5 %	(71.45)	30.8 %
2021	1,607.93	28.4 %	194.98	1042.0 %	(183.62)	54.7 %
Q1 2022	424.80	13.9 %	43.73	(24.1 %)	(22.79)	(40.2 %)
Q2 2022	495.71	32.3 %	49.04	352.6 %	(18.31)	71.3 %
Q3 2022	555.09	31.9 %	43.98	(22.8 %)	(25.70)	19.7 %
Q4 2022	501.44	14.1 %	22.30	(68.0 %)	(79.41)	(11.1 %)
2022	1,977.04	23.0 %	159.04	(18.4 %)	(146.21)	20.4 %
Q1 2023	563.87	32.7 %	100.65	130.2 %	35.77	257.0 %
Q2 2023	626.47	26.4 %	102.12	108.2 %	44.17	341.2 %
Q3 2023	646.72	16.5 %	119.47	171.7 %	52.74	305.2 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
2013	2,143.85	6.8 %	835.22	0.2 %	625.51	3.5 %
2014	2,408.03	12.3 %	881.73	5.6 %	626.65	0.2 %
2015	2,540.51	5.5 %	837.18	(5.1 %)	595.63	(5.0 %)
2016	2,726.67	7.3 %	924.24	10.4 %	675.42	13.4 %
2017	2,585.53	(5.2 %)	874.44	(5.4 %)	492.02	(27.2 %)
2018	2,554.04	(1.2 %)	684.44	(21.7 %)	371.10	(24.6 %)
2019	2,539.76	(0.6 %)	686.50	0.3 %	415.86	12.1 %
2020	1,251.84	(50.7 %)	(20.70)	(103.0 %)	(405.01)	(197.4 %)
2021	1,607.93	28.4 %	194.98	1042.0 %	(183.62)	54.7 %
2022	1,977.04	23.0 %	159.04	(18.4 %)	(146.21)	20.4 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
Q1 2014	-	-	-	-	-	-
Q2 2014	151.55	-	0.81	-	151.55	0.81
Q3 2014	176.83	-	0.94	-	176.83	0.94
Q4 2014	168.10	-	0.89	22.23	145.87	0.78
2014	656.98	8.4 %	3.49	22.23	634.75	3.38
Q1 2015	110.82	-	0.59	(98.00)	208.82	1.11
Q2 2015	174.28	15.0 %	0.93	-	174.28	0.93
Q3 2015	167.08	(5.5 %)	0.89	(31.50)	198.58	1.06
Q4 2015	168.88	0.5 %	0.90	12.46	156.42	0.83
2015	621.07	(5.5 %)	3.30	(117.04)	738.11	3.93
Q1 2016	192.14	73.4 %	1.02	-	192.14	1.02
Q2 2016	195.82	12.4 %	1.04	-	195.82	1.04
Q3 2016	193.71	15.9 %	1.03	-	193.71	1.03
Q4 2016	104.10	(38.4 %)	0.55	-	104.10	0.55
2016	685.77	10.4 %	3.65	-	685.77	3.65
Q1 2017	155.12	(19.3 %)	0.83	-	155.12	0.83
Q2 2017	122.28	(37.6 %)	0.65	-	122.28	0.65
Q3 2017	160.05	(17.4 %)	0.85	-	160.05	0.85
Q4 2017	64.05	(38.5 %)	0.34	-	64.05	0.34
2017	501.50	(26.9 %)	2.67	-	501.50	2.67
Q1 2018	106.66	(31.2 %)	0.57	-	106.66	0.57
Q2 2018	112.72	(7.8 %)	0.60	-	112.72	0.60
Q3 2018	92.68	(42.1 %)	0.49	-	92.68	0.49
Q4 2018	56.37	(12.0 %)	0.30	-	56.37	0.30
2018	368.43	(26.5 %)	1.96	-	368.43	1.96
Q1 2019	104.12	(2.4 %)	0.55	-	104.12	0.55
Q2 2019	123.86	9.9 %	0.66	-	123.86	0.66
Q3 2019	120.21	29.7 %	0.64	-	120.21	0.64
Q4 2019	75.17	33.3 %	0.40	-	75.17	0.40
2019	423.35	14.9 %	2.25	-	423.35	2.25
Q1 2020	(51.54)	(149.5 %)	(0.27)	-	(51.54)	(0.27)
Q2 2020	(197.87)	(259.8 %)	(1.05)	-	(197.87)	(1.05)
Q3 2020	(86.79)	(172.2 %)	(0.46)	-	(86.79)	(0.46)
Q4 2020	(118.09)	(257.1 %)	(0.63)	-	(118.09)	(0.63)
2020	(454.30)	(207.3 %)	(2.42)	-	(454.30)	(2.42)
Q1 2021	(16.69)	67.6 %	(0.09)	-	(16.69)	(0.09)
Q2 2021	(93.16)	52.9 %	(0.50)	-	(93.16)	(0.50)
Q3 2021	(43.49)	49.9 %	(0.23)	-	(43.49)	(0.23)
Q4 2021	(101.07)	14.4 %	(0.54)	-	(101.07)	(0.54)
2021	(254.41)	44.0 %	(1.35)	-	(254.41)	(1.35)
Q1 2022	(19.01)	(13.9 %)	(0.10)	24.23	(43.24)	(0.23)
Q2 2022	(66.85)	28.2 %	(0.36)	-	(66.85)	(0.36)
Q3 2022	(50.85)	(16.9 %)	(0.27)	-	(50.85)	(0.27)
Q4 2022	(107.77)	(6.6 %)	(0.57)	12.39	(120.16)	(0.64)
2022	(244.49)	3.9 %	(1.30)	36.62	(281.11)	(1.50)
Q1 2023	40.04	310.6 %	0.21	-	40.04	0.21
Q2 2023	49.93	174.7 %	0.27	-	49.93	0.27
Q3 2023	59.88	217.7 %	0.32	-	59.88	0.32

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
2013	605.96	2.8 %	3.22	2.90	603.06	3.21
2014	656.98	8.4 %	3.49	22.23	634.75	3.38
2015	621.07	(5.5 %)	3.30	(117.04)	738.11	3.93
2016	685.77	10.4 %	3.65	-	685.77	3.65
2017	501.50	(26.9 %)	2.67	-	501.50	2.67
2018	368.43	(26.5 %)	1.96	-	368.43	1.96
2019	423.35	14.9 %	2.25	-	423.35	2.25
2020	(454.30)	(207.3 %)	(2.42)	-	(454.30)	(2.42)
2021	(254.41)	44.0 %	(1.35)	-	(254.41)	(1.35)
2022	(244.49)	3.9 %	(1.30)	36.62	(281.11)	(1.50)

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
2014	36.62 %	31.46 %	26.36 %
Q1 2015	32.99 %	29.56 %	29.12 %
Q2 2015	32.56 %	30.41 %	28.73 %
Q3 2015	31.04 %	29.51 %	29.19 %
Q4 2015	32.95 %	29.33 %	29.05 %
2015	32.95 %	29.33 %	29.05 %
Q1 2016	36.03 %	32.29 %	27.71 %
Q2 2016	35.98 %	31.76 %	27.67 %
Q3 2016	36.04 %	31.48 %	26.69 %
Q4 2016	33.90 %	29.16 %	25.15 %
2016	33.90 %	29.16 %	25.15 %
Q1 2017	33.15 %	27.84 %	24.16 %
Q2 2017	33.35 %	25.45 %	21.69 %
Q3 2017	33.01 %	24.68 %	20.77 %
Q4 2017	33.82 %	23.73 %	19.40 %
2017	33.82 %	23.73 %	19.40 %
Q1 2018	32.48 %	22.47 %	17.67 %
Q2 2018	30.24 %	22.34 %	17.30 %
Q3 2018	27.82 %	19.65 %	14.65 %
Q4 2018	26.80 %	20.04 %	14.43 %
2018	26.80 %	20.04 %	14.43 %
Q1 2019	26.63 %	20.94 %	14.40 %
Q2 2019	26.95 %	22.05 %	14.91 %
Q3 2019	28.13 %	24.05 %	16.10 %
Q4 2019	27.03 %	24.48 %	16.67 %
2019	27.03 %	24.48 %	16.67 %
Q1 2020	25.40 %	20.57 %	10.96 %
Q2 2020	15.51 %	9.62 %	(2.83 %)
Q3 2020	6.33 %	(2.08 %)	(17.47 %)
Q4 2020	(1.65 %)	(19.52 %)	(36.29 %)
2020	(1.65 %)	(19.52 %)	(36.29 %)
Q1 2021	(6.31 %)	(23.33 %)	(37.70 %)
Q2 2021	5.14 %	(9.85 %)	(22.93 %)
Q3 2021	9.03 %	(5.00 %)	(17.80 %)
Q4 2021	12.13 %	(0.87 %)	(15.82 %)
2021	12.13 %	(0.87 %)	(15.82 %)
Q1 2022	10.91 %	(1.23 %)	(16.93 %)
Q2 2022	12.31 %	1.63 %	(14.30 %)
Q3 2022	10.77 %	1.98 %	(13.68 %)
Q4 2022	8.04 %	1.80 %	(14.22 %)
2022	8.04 %	1.80 %	(14.22 %)
Q1 2023	10.21 %	4.54 %	(9.35 %)
Q2 2023	11.97 %	7.02 %	(3.61 %)
Q3 2023	14.73 %	10.11 %	1.27 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
2013	38.96 %	34.90 %	28.13 %
2014	36.62 %	31.46 %	26.36 %
2015	32.95 %	29.33 %	29.05 %
2016	33.90 %	29.16 %	25.15 %
2017	33.82 %	23.73 %	19.40 %
2018	26.80 %	20.04 %	14.43 %
2019	27.03 %	24.48 %	16.67 %
2020	(1.65 %)	(19.52 %)	(36.29 %)
2021	12.13 %	(0.87 %)	(15.82 %)
2022	8.04 %	1.80 %	(14.22 %)

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
Q1 2014	-	-	-
Q2 2014	39.68 %	31.36 %	30.30 %
Q3 2014	39.46 %	34.31 %	28.27 %
Q4 2014	28.86 %	32.11 %	24.40 %
Q1 2015	25.08 %	20.90 %	33.54 %
Q2 2015	36.71 %	34.43 %	28.53 %
Q3 2015	33.39 %	30.72 %	30.04 %
Q4 2015	36.53 %	31.21 %	24.21 %
Q1 2016	37.48 %	32.91 %	28.02 %
Q2 2016	36.43 %	32.14 %	28.28 %
Q3 2016	33.90 %	29.79 %	26.13 %
Q4 2016	26.95 %	20.76 %	17.14 %
Q1 2017	34.59 %	27.65 %	24.09 %
Q2 2017	37.40 %	22.72 %	18.55 %
Q3 2017	32.66 %	27.19 %	22.95 %
Q4 2017	30.32 %	16.43 %	10.94 %
Q1 2018	29.08 %	22.59 %	17.15 %
Q2 2018	28.71 %	22.22 %	17.08 %
Q3 2018	23.76 %	17.31 %	13.23 %
Q4 2018	25.84 %	18.08 %	9.86 %
Q1 2019	28.43 %	26.42 %	17.09 %
Q2 2019	29.98 %	26.56 %	19.11 %
Q3 2019	28.02 %	24.54 %	17.59 %
Q4 2019	21.29 %	20.19 %	12.54 %
Q1 2020	20.92 %	8.11 %	(10.06 %)
Q2 2020	(112.86 %)	(127.27 %)	(171.92 %)
Q3 2020	(3.82 %)	(17.63 %)	(32.40 %)
Q4 2020	3.44 %	(25.85 %)	(33.11 %)
Q1 2021	15.45 %	7.06 %	(4.48 %)
Q2 2021	2.89 %	(5.89 %)	(24.86 %)
Q3 2021	13.53 %	2.79 %	(10.34 %)
Q4 2021	15.83 %	(6.81 %)	(23.00 %)
Q1 2022	10.29 %	4.66 %	(10.18 %)
Q2 2022	9.89 %	5.54 %	(13.49 %)
Q3 2022	7.92 %	3.70 %	(9.16 %)
Q4 2022	4.45 %	(6.41 %)	(23.96 %)
Q1 2023	17.85 %	14.24 %	7.10 %
Q2 2023	16.30 %	14.20 %	7.97 %
Q3 2023	18.47 %	15.36 %	9.26 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2014	-	-	-	-
Q2 2014	188.00	-	-	12.63
Q3 2014	188.00	-	-	12.96
Q4 2014	188.00	-	-	13.22
Q1 2015	188.00	3.23	3.63	13.20
Q2 2015	188.00	3.35	3.75	14.13
Q3 2015	188.00	3.30	3.87	15.02
Q4 2015	188.00	3.30	3.93	14.38
Q1 2016	188.00	3.74	3.84	14.51
Q2 2016	188.00	3.85	3.95	14.90
Q3 2016	188.00	3.99	3.93	15.28
Q4 2016	188.00	3.65	3.65	15.83
Q1 2017	188.00	3.45	3.45	15.36
Q2 2017	188.00	3.06	3.06	15.36
Q3 2017	188.00	2.88	2.88	15.56
Q4 2017	188.00	2.67	2.67	15.28
Q1 2018	188.00	2.41	2.41	15.84
Q2 2018	188.00	2.36	2.36	15.79
Q3 2018	188.00	2.00	2.00	14.99
Q4 2018	188.00	1.96	1.96	15.30
Q1 2019	188.00	1.95	1.95	15.78
Q2 2019	188.00	2.01	2.01	15.64
Q3 2019	188.00	2.15	2.15	15.28
Q4 2019	188.00	2.25	2.25	15.67
Q1 2020	188.00	1.42	1.42	15.40
Q2 2020	188.00	(0.29)	(0.29)	14.34
Q3 2020	188.00	(1.39)	(1.39)	13.88
Q4 2020	188.00	(2.42)	(2.42)	13.29
Q1 2021	188.00	(2.23)	(2.23)	13.20
Q2 2021	188.00	(1.67)	(1.67)	12.71
Q3 2021	188.00	(1.44)	(1.44)	12.48
Q4 2021	188.00	(1.35)	(1.35)	12.05
Q1 2022	188.00	(1.37)	(1.49)	11.95
Q2 2022	188.00	(1.23)	(1.35)	11.59
Q3 2022	188.00	(1.26)	(1.39)	11.32
Q4 2022	188.00	(1.30)	(1.50)	11.18
Q1 2023	188.00	(0.99)	(1.05)	11.39
Q2 2023	188.00	(0.37)	(0.43)	11.66
Q3 2023	188.00	0.22	0.16	11.98

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2013	188.00	3.22	3.21	11.48
2014	188.00	3.49	3.38	13.22
2015	188.00	3.30	3.93	14.38
2016	188.00	3.65	3.65	15.83
2017	188.00	2.67	2.67	15.28
2018	188.00	1.96	1.96	15.30
2019	188.00	2.25	2.25	15.67
2020	188.00	(2.42)	(2.42)	13.29
2021	188.00	(1.35)	(1.35)	12.05
2022	188.00	(1.30)	(1.50)	11.18

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
Q1 2014	-	-	-
Q2 2014	-	-	-
Q3 2014	-	-	-
Q4 2014	-	-	-
Q1 2015	-	-	-
Q2 2015	21.78	19.44	5.17
Q3 2015	18.59	15.85	4.08
Q4 2015	13.70	11.53	3.15
Q1 2016	10.90	10.61	2.81
Q2 2016	12.55	12.23	3.24
Q3 2016	10.15	10.32	2.65
Q4 2016	18.14	18.14	4.18
Q1 2017	14.87	14.87	3.34
Q2 2017	14.71	14.71	2.93
Q3 2017	15.01	15.01	2.78
Q4 2017	14.74	14.74	2.57
Q1 2018	15.28	15.28	2.32
Q2 2018	15.30	15.30	2.29
Q3 2018	17.59	17.59	2.35
Q4 2018	15.77	15.77	2.02
Q1 2019	14.95	14.95	1.84
Q2 2019	14.36	14.36	1.84
Q3 2019	15.29	15.29	2.15
Q4 2019	15.59	15.59	2.24
Q1 2020	16.11	16.11	1.49
Q2 2020	NEG	NEG	1.96
Q3 2020	NEG	NEG	2.20
Q4 2020	NEG	NEG	2.41
Q1 2021	NEG	NEG	2.45
Q2 2021	NEG	NEG	2.85
Q3 2021	NEG	NEG	2.93
Q4 2021	NEG	NEG	2.45
Q1 2022	NEG	NEG	2.81
Q2 2022	NEG	NEG	2.28
Q3 2022	NEG	NEG	2.28
Q4 2022	NEG	NEG	1.95
Q1 2023	NEG	NEG	1.97
Q2 2023	NEG	NEG	2.95
Q3 2023	More than 100	More than 100	2.47

Period	P/E	Adjusted P/E	Price/book
2013	-	-	-
2014	-	-	-
2015	13.70	11.53	3.15
2016	18.14	18.14	4.18
2017	14.74	14.74	2.57
2018	15.77	15.77	2.02
2019	15.59	15.59	2.24
2020	NEG	NEG	2.41
2021	NEG	NEG	2.45
2022	NEG	NEG	1.95

Business Segments (Million)

Compared With The

Period	Rendering of services	Sales of goods
Q1 2021	370.18	2.78
Q2 2021	371.27	3.55
Q3 2021	416.58	4.11
Q4 2021	435.80	3.66
Q1 2022	421.47	3.33
Q2 2022	491.00	4.71
Q3 2022	550.00	5.09
Q4 2022	497.12	4.32
Q1 2023	559.37	4.50
Q2 2023	620.92	5.55
Q3 2023	640.80	5.92

Period	Rendering of services	Sales of goods
2021	1,593.84	14.10
2022	1,959.59	17.45

Analysts Estimates (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change‬
Average	53.60	59.88	11.71 %

Estimates vs Actual (Million)

Item	Q3 2023 (e)	Q3 2023 (a)	Change
Sico	61.00	59.88	(1.8) %
AlJazira Capital	53.70	59.88	11.5 %
SNB Capital	46.10	59.88	29.9 %

Financial Ratios

	Current
Market Cap (M Riyal)	9,165.00
Enterprise Value (EV) (M)	8,512.83
Shares Outstanding ((M))	188.00
EPS ( Riyal) (TTM)	1.56
Book Value (BV) ( Riyal)	12.65
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	32.34
P/E (TTM)	31.29
Price/book	3.85
Return on Average Assets (%) (TTM)	6.9
Return on Average Equity (%) (TTM)	12.7

Saudi Ground Services Co. (SGS)

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Saudi Ground Services earns SAR 149.9 mln in 9M 2023, SAR 59.9 mln in Q3

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Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million)

Revenue by Business Segment (Latest) 2023 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Saudi Ground Services Co. (SGS)

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Saudi Ground Services earns SAR 149.9 mln in 9M 2023, SAR 59.9 mln in Q3

View other reports

Financials (M)

Current Quarter Comparison (M)

Financial results (Million)

Financial results (Million)

Profit Performance (Million)

Profit Performance (Million)

Profitability

Profitability

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments (Million) Q3 2023

Revenue by Business Segment (Latest) 2023 Q3

Analysts Estimates (Million)

Analysts Estimates (Million)

Estimates vs Actual (Million)

Estimates Accuracy

Financial Ratios

Share Price

Saudi Ground Services Co. (SGS)

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Business Segments (Million)