SASCO Reports SAR 23.7M Net Loss in Three Months 2026
SASCO 4050.SA | 0.00 |
On 2026-05-11 15:37:20 (Saudi Time), Saudi Automotive Services Co. (SASCO) announced its interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 3,021.49 | 2,760.43 | 9.457 | 3,103.8 | -2.651 |
| Gross Profit (Loss) | 47.33 | 74.32 | -36.315 | 59.94 | -21.037 |
| Operational Profit (Loss) | 19.75 | 48.78 | -59.512 | 26.46 | -25.359 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -23.7 | 4.28 | - | 21.89 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -26.7 | 4.43 | - | -3.16 | 744.936 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 865.02 | 853.88 | 1.304 |
| Profit (Loss) per Share | -0.34 | 0.06 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | 0.56 | 0.08 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales increased 9.46% YoY to SAR 3,021.49 million, driven by volume growth from expanded station network, diesel price increases, and new SASCO Palm locations. However, net profit shifted from SAR 4.28 million profit to SAR 23.7 million loss, primarily due to higher cost of sales, increased ECL provisions, lower other income, and higher financing and zakat expenses that offset the revenue gains.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 2.65% to SAR 3,021.49 million mainly due to seasonal demand patterns affecting revenue generation. Net profit swung from SAR 21.89 million profit to SAR 23.7 million loss due to lower revenues, reduced other income and investment income, absence of prior quarter's FVTPL gains, and higher cost of sales, marketing, financing and zakat expenses. These negative impacts were only partially offset by lower G&A expenses, reduced ECL provisions, and higher fair value gains on investment properties.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. Total shareholders equity increased 1.304% to SAR 865.02 million compared to the previous year, while earnings per share declined from SAR 0.06 to SAR -0.34. The company reported profit from investment property fair value changes of SAR 0.56 million, representing 0.08% of capital.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95239&anCat=1&cs=4050&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/31173_441_2026-05-11_14-54-49_en.pdfImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.