Theeb Rent a Car Co. reported net profit after Zakat and tax of SAR 26 million in Q1 2021, a decline of 23.7% year-on-year (YoY), driven by lower revenue from short-term rent on the Kingdom’s lockdown related to COVID-19 outbreak.
On a sequential basis, net profit increased by 21.5%, on improved demand.
| Item | Q1 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 197.60 | 176.90 | (10.5 %) |
| Gross Income | 60.22 | 53.42 | (11.3 %) |
| Operating Income | 40.82 | 32.91 | (19.4 %) |
| Net Income | 34.06 | 25.97 | (23.7 %) |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.79 | 0.60 | (23.7 %) |
| Item | Q4 2020 | Q1 2021 | Change |
|---|---|---|---|
| Revenues | 174.90 | 176.90 | 1.1 % |
| Gross Income | 50.51 | 53.42 | 5.8 % |
| Operating Income | 28.61 | 32.91 | 15.0 % |
| Net Income | 21.37 | 25.97 | 21.5 % |
| Average Shares | 43.00 | 43.00 | - |
| EPS (Riyals) | 0.50 | 0.60 | 21.5 % |
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