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Our Business Is in Your Journey Annual Report 2018 at a Glance

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Our Business Is in Your Journey Annual Report 2018 at a Glance Saudi Airlines Catering Company Saudi Airlines Catering Our business is in your journey Annual Report 2018 Annual Report Annual Report 2018 At a glance Operational Divisions All our operational divisions performed well in 2018, Cairo validating our continued diversification strategy and Neom contributing to impressive financial results. The year Saudi Arabia was distinguished by significant advances in many areas, notably railways, retail, automation and female Dammam employment, as well as consolidation of the company’s leadership in catering for religious pilgrims. Riyadh Madinah In-Flight Catering With over 90% market share, our Jeddah in-flight catering business serves over 100,000 meals to passengers of over 50 domestic and international Makkah airline and railway clients each day throughout Saudi Arabia. Taif Retail Abha Our retail business focused on innovation and diversification in 2018, and investing in our ecommerce capabilities through enhanced web and mobile sales platforms along with associated human capital and infrastructure. Catering and Facilities Our catering and facilities business expanded its service footprint through 19 new contracts in 2018, covering thirteen new remote sites and six new business and industry sites Mission Values across the Kingdom. To excel as a market leader through – Customer Orientation continual process improvement, – Commitment to Quality Hospitality innovation, and timely response, – Team Spirit Our hospitality business continued in our customers’ best interests. – Transparency to expand and diversify with growing – Sustainability operations across modern airport and railway lounges and other venues throughout Saudi Arabia. Hajj and Umrah Our market-leading Hajj and Umrah Meals Served Business Lounges Total Staff business provided a record 640,000 frozen ready meals to more than 60,000 pilgrims in the holy cities of Makkah and Madinah in just five days over the 2018 Hajj season. 40m 22 4,490 Lounge Guests Flights Catered Retail Outlets 2.59m 220k 55 Strategic Review Strategic Financial and operational highlights Strategic Review 4 Chairman’s Statement New Domestic Al Fursan Lounge was opened at King Abdulaziz 6 Board of Directors International Airport. The lounge serves Saudia passengers at the Governance Corporate new Airport Terminal. 8 CEO’s Review Established in 1981 to provide catering 10 Executive Management Al Haramein high-speed train catering contract was awarded to SACC, 12 Business Model which ensures a number one position in KSA railway catering. services to the Kingdom’s flag carrier, Saudia, 14 Our Strategy Saudi Airlines Catering Company (SACC) SACC corporate functions were strengthened during the year, 16 Risk Management especially within Business Development and Strategy. 18 Key Performance Indicators has blossomed into a broad and diversified 20 Business Review SACC maintained Platinum level for Saudisation. The number Financial Statements enterprise offering a full suite of food and of Saudi female employees increased by almost 20% during the year. 48 CFO’s Review 50 Our People beverage, retail, hospitality, and support Read more on page 20 services to national and international clients. 54 Corporate Governance Financial Statements 108 Independent Auditors’ Report 111 Statement of Financial Position 112 Statement of Profit or Loss and Other Comprehensive Income 113 Statement of Changes in Equity 114 Statement of Cash Flows 115 Notes to the Net profit after Zakat Financial Statements Revenue (SAR) and income tax (SAR) In-Flight Catering 2.04bn 459.3m Retail Net Profit Margin Earnings Per Share (SAR) To download our annual report go to www.saudiacatering.com Catering and Facilities 22.56% 5.60 Hospitality Payout ratio Hajj and Umrah 99.10% Saudi Airlines Catering Company Annual Report 2018 1 Strategic Review Strategic Corporate Governance Corporate Financial Statements Strategic Review 4 Chairman’s Statement 6 Board of Directors 8 CEO’s Review 10 Executive Management 12 Business Model 14 Our Strategy 16 Risk Management 18 Key Performance Indicators 20 Business Review 48 CFO’s Review 50 Our People 2 Saudi Airlines Catering Company Annual Report 2018 3 Strategic Review Strategic Chairman’s Statement On behalf of the Board of Directors, it gives me Governance Corporate great pleasure to present the 2018 Annual Report Our business of Saudi Airlines Catering Company. The past year has not been without its that continue to account for over 60% in national efforts to achieve Saudisation. Financial Statements challenges, including those posed by of our business. More than 33% of our employees in 2018 the turbulent economic climate, the were Saudi nationals, placing us well is in your effects of which have been accentuated By building complementary businesses over the threshold required to retain our by depressed oil prices. These conditions based on our expanding capabilities in Platinum Class Saudisation rating. We have led to further cost-cutting in the rail, hospitality, laundry, retail, security also continued to enhance the diversity the aviation industry and increasing and Hajj/Umrah sectors, we will continue of our workforce in 2018 and welcomed customer price sensitivity, resulting to provide our clients increasing value new female members to our executive in a slowdown in in-flight retail growth. and variety in our service offering. management team. journey Despite these negative headwinds, however, SACC continues to deliver Powered by a declining bottom line, I wish to express my sincere thanks to strong performance. increased working capital and positive all our valued partners and stakeholders, cash flow during 2018, our strategic as well as to my fellow members of the The Company generated a net profit of diversification was complemented by Board, our management and employees SAR 459.3 million in 2018, representing our focus on efficiency, quality and cost throughout the Company for their a decrease of 4.7% over the previous control, all supported by an expanding hard work. With their dedication and year and equating to earnings per share suite of new automated systems support, we will deliver increasing of SAR 5.60. Nevertheless, since 2011, to achieve paperless operations value to our customers, as we continue SACC has shown continued overall across SACC. to diversify and expand our business growth, demonstrating our consistent in the coming year. ability to generate increasing value Building strength and capabilities for our shareholders. across our organisation We also continued to strengthen Dr. Yahya Al-Yahya Offering greater value and service our risk and governance functions Chairman to our clients to ensure the long-term sustainability Our strategy remains to develop of the organisation. as a dynamic multi-service business, diversifying our activities whilst Across our expanding activities, maintaining the quality and efficiency we continue to take inspiration from of our core In-Flight Catering services Saudi Vision 2030, and to play our part “ Net Profit (SAR) 459.3m Our strategy remains to develop as a dynamic multi- service business, diversifying Earnings Per Share (SAR) our activities whilst maintaining the quality and efficiency of our core In-Flight Catering services 5.60 4 Saudi Airlines Catering Company Annual Report 2018 5 Strategic Review Strategic Board of Directors Corporate Governance Corporate Financial Statements Yahya Al-Yahya Raed Al-Mudaiheem Ayman Al-Tayyar Jonathan Stent-Torriani Abdullah Taibah Shawgi Mushtag Abdulmohsen Al-Yahya Sami Al-Hokair Fahd Al-Rasheed Chairman Vice Chairman Board Member Board Member Board Member Board Member Board Member Board Member Board Member Current positions Board Member, Gulf CEO of Masdar Building Executive Vice President Founding Partner and Co-CEO, Board Member, EMAAR Retired Board Member, Managing Director, Board Member, Emaar The International Bank, Materials, KSA (JCC) Head, NCB Private Banking, Newrest Group Holding Economic City, KSA (Listed) West Gulf Co., KSA (Ltd.) Abdulmohsen Abdulaziz Economic City., KSA (Listed). Bahrain (Ltd.) Board Member, United KSA (Listed) S.L, France (S.L.) Board Member, Alessa Board Member, Awal Al Al-Hokair Holding Group, Board Member, Petromin Co., Mining Industries, KSA (JCC) Board Member, Program Majority owner, Director Industries Co., KSA (Ltd.) Qoutouf Co., SA (Ltd.) KSA (Listed). KSA (Ltd.) Board Member, Northern of Advisory – Dar Al Hekma Ritz Carlton Montreal, Board Member, Qudra Board Member, Alkhaleej Board Member, Abdulmohsen Board Member, Ports Region Cement Co., University, KSA (Ltd.) Board Member, Strategic Energy Co, KSA (Ltd.) Training and Education Co., Al-Hokair Abdulaziz Holding Development Co., KSA (Ltd.) KSA (Listed) Catering Co., KSA KSA (Listed) Group, KSA (Listed). Board Member, Bawan Vice Chairman, Sahara Kingdom Company, KSA (Listed) Properties, KSA (Ltd.). Board Member, Northern Chairman of the Board Region Cement Co Jordan, of Directors of Tanami Jordan (JST) Holding Company. Board Member, Al Badia Member of the Board Cement Syria, Syria (JST) of Directors of Real Board Member, SUEZ Cement Estate and Tourism Co, Egypt (JST) Development Company. Board Member, Al Yamamah Member of the Board of Steel, KSA (Listed) Directors of the European Board Member, Al Muhaidib Company for Tourism and Group, KSA (Ltd.) Hotel Investment, Jordan Previous positions Chairman, Gulf International Board Member, Arabian Pipes Executive Vice President Operations Manager, CEO at Qudra Company, KSA DG. Privatization Advisor Board Member for Saudi
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