Earnings Report /
Saudi Arabia

Saudi Ground Services: Higher losses due to the end of SANED program

  • Revenues increased by 226% yoy (+0.5% qoq) to SAR375mn in Q2 21

  • Gross profit stood SAR11mn in Q2 21, vs a gross profit of SAR58mn in Q1 21

  • Operating loss stood at SAR63mn, compared to a loss of SAR196mn and SAR12mn in Q2 20 and Q1 21 respectively

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
15 August 2021
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