SGS H1 2024 profit climbs 66% to SAR 149.6M; Q2 at SAR 78.4M

05/08/2024 Argaam Exclusive

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Saudi Ground Services Co. (SGS) reported a net profit rise of 66% to SAR 149.6 million in the first half of 2024, from SAR 90 million in the prior year period.

Financials (M)

Item	6m 2023	6m 2024	Change‬
Revenues	1,190.34	1,339.71	12.5 %
Gross Income	202.76	265.31	30.8 %
Operating Income	79.94	115.74	44.8 %
Net Income	89.98	149.60	66.3 %
Average Shares	188.00	188.00	-
EPS (Riyals)	0.48	0.80	66.3 %

The first-half net earnings were bolstered by a 12.5% rise year-on-year (YoY) in revenue, on growth in domestic and international flights in addition to higher number of Hajj and Umrah pilgrims.

They were also driven by a SAR 17.3 million increase in other income, compared to SAR 14.9 million in the same period of 2023. Additionally, SGS posted a SAR 12.8 million decline in financing costs, which improved results.

These positive factors were partially offset by SAR 25 million increase in the impairment loss on trade and other receivables compared to the same period previous year.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2023	Q2 2024	Change‬
Revenues	626.47	686.51	9.6 %
Gross Income	102.12	143.88	40.9 %
Operating Income	44.17	60.66	37.3 %
Net Income	49.93	78.43	57.1 %
Average Shares	188.00	188.00	-
EPS (Riyals)	0.27	0.42	57.1 %

Item	Q1 2024	Q2 2024	Change‬
Revenues	653.20	686.51	5.1 %
Gross Income	121.43	143.88	18.5 %
Operating Income	55.08	60.66	10.1 %
Net Income	71.16	78.43	10.2 %
Average Shares	188.00	188.00	-
EPS (Riyals)	0.38	0.42	10.2 %

In Q2 2024, the company’s net profit jumped 57% to SAR 78.4 million, from SAR 49.9 million in Q2 2023, thanks to a 9.6% YoY rise in revenue.

On the other hand, the cost of revenue increased by 3.5% YoY triggered by the company's productivity enhancement and expense rationalization initiatives, which resulted in a 40.9% rise YoY in gross profit.

SGS bottom line advanced 10.2% from SAR 71.1 million in Q1 2024.

Shareholders’ equity, no minority interest, reached SAR 2.48 billion by June 30, 2024, compared to SAR 2.19 billion in the prior-year period.

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Financial results (Million)

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %
Q4 2023	621.83	24.0 %	86.78	289.2 %	43.35	154.6 %
2023	2,458.89	24.4 %	409.01	157.2 %	176.03	220.4 %
Q1 2024	653.20	15.8 %	121.43	20.7 %	55.08	54.0 %
Q2 2024	686.51	9.6 %	143.88	40.9 %	60.66	37.3 %

Period	Revenues	Change	Gross Income	Change	Operating Income	Change
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 %
2023	2,458.89	24.4 %	409.01	157.2 %	176.03	220.4 %

Profit Performance (Million)

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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
Q4 2023	61.63	157.2 %	0.33	9.50	52.13	0.28
2023	211.48	186.5 %	1.12	9.50	201.98	1.07
Q1 2024	71.16	77.7 %	0.38	-	71.16	0.38
Q2 2024	78.43	57.1 %	0.42	-	78.43	0.42

Period	Net Income	Change	EPS(Riyal)	Extraordinary Income/Expense	Net Profit Before Unusual Items	EPS Before XO Items
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)
2023	211.48	186.5 %	1.12	9.50	201.98	1.07

Profitability

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q4 2023	16.63 %	14.58 %	8.21 %
2023	16.63 %	14.58 %	8.21 %
Q1 2024	16.87 %	14.91 %	9.15 %
Q2 2024	18.08 %	15.21 %	10.03 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %)
2023	16.63 %	14.58 %	8.21 %

Period	Gross Margin	OIBDA Margin	Net Margin Before Unusual Items
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 %
Q4 2023	13.96 %	14.46 %	8.38 %
Q1 2024	18.59 %	15.58 %	10.89 %
Q2 2024	20.96 %	15.41 %	11.42 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
Q4 2023	188.00	1.12	1.07	12.40
Q1 2024	188.00	1.29	1.24	12.78
Q2 2024	188.00	1.44	1.39	13.20

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
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
2023	188.00	1.12	1.07	12.40

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E	Price/book
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
Q4 2023	32.14	33.65	2.91
Q1 2024	40.14	41.78	4.05
Q2 2024	36.20	37.51	3.96

Period	P/E	Adjusted P/E	Price/book
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
2023	32.14	33.65	2.91

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
Q4 2023	616.46	5.37
Q1 2024	647.32	5.88
Q2 2024	679.05	7.46

Period	Rendering of services	Sales of goods
2021	1,593.84	14.10
2022	1,959.59	17.45
2023	2,437.54	21.35

Analysts Estimates (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change‬
Average	77.33	78.43	1.43 %

Estimates vs Actual (Million)

Item	Q2 2024 (e)	Q2 2024 (a)	Change
United Securities Company	75.00	78.43	4.6 %
Sico	82.70	78.43	(5.2) %
SNB Capital	84.40	78.43	(7.1) %
AlJazira Capital	67.20	78.43	16.7 %

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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SGS H1 2024 profit climbs 66% to SAR 149.6M; Q2 at SAR 78.4M

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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) 2024 Q2

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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SGS H1 2024 profit climbs 66% to SAR 149.6M; Q2 at SAR 78.4M

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) Q2 2024

Revenue by Business Segment (Latest) 2024 Q2

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)