Earnings Report /
Saudi Arabia

Saudi Ground Services: Lower losses in Q3 21 due to business recovery

  • Revenues increased by 57.0% yoy (+12.2% qoq) to SAR421mn in Q3 21 broadly in-line with our estimates of SAR409m

  • Gross profit stood at SAR57mn in Q3 21, compared to a gross profit of SAR11mn in Q2 21

  • Operating loss stood at SAR29mn, compared to losses of SAR97mn and SAR63mn in Q3 20 and Q2 21 respectively

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
7 November 2021
Published by