Saudi Public Transport Company (SAPTCO) announces consolidated annual financial results for the period ended December 31, 2022

Saudi Public Transport Company (SAPTCO) announces consolidated annual financial results for the period ended December 31, 2022

|Element List||Current Year||Previous Year||%Change|

|Sales/Revenue||1,319,467||960,573||37.36|

|Gross Profit (Loss)||176,083||2,348||7,399.27|

|Operational Profit (Loss)||-41,695||-157,741||-73.57|

|Net Profit (Loss) after Zakat and Tax||-96,354||-220,466||-56.3|

|Total Comprehensive Income||-109,841||-225,238||-51.23|

|Total Share Holders Equity (after Deducting Minority Equity)||945,085||1,049,650||-9.96|

|Profit (Loss) per Share||-0.73||-1.73|

|All figures are in (Thousands) Saudi Arabia, Riyals|

|Element List||Explanation|

|The reason of the increase (decrease) in the net profit during the current year compared to the last year is|| The (decrease) in losses in 2022 compared to 2021 is due to:

|

1- Revenue increased due to an increase in operations, including the resumption of the Hajj and Ramadan season, which added significantly to the revenue. An increase in operations and revenue is directly proportionate to the cost of revenues, selling and distribution expenses, general and administrative expenses, and the cost of finance.

2- Incremental other income.

3-Lower loss recognized on investments in joint venture.

4- Decrease in the Zakat and Tax expenses.

5- Recognition of reversal for impairment in assets held for sale in the current year.

6- Decrease in financing income.

7- Recognition of losses in associate company during 2022.

8- Recording of a higher amount of impairment on receivables and provision for impairment of non-current assets during 2022.

|Statement of the type of external auditor's report||Unmodified opinion|

|Reclassification of Comparison Items||_|

|Additional Information|| - The losses per share for the current year was calculated based