Earnings Report /
Saudi Arabia

Saudi Airlines Catering: Profits after 5 consecutive quarterly losses

  • Revenues stood at SAR332mn, up 115% yoy (+29.2% qoq) and broadly in-line with our estimates of SAR257mn

  • Gross profit came in at SAR102mn in Q3 21 vs gross profit of SAR54mn in Q2 21 and our estimates of a profit of SAR72mn

  • Operating profit came-in at SAR29mn in Q3 21 vs our estimates of SAR8.8mn

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
3 November 2021
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