Abdulmohsen Alhokair Group for Tourism and Development announces its Interim Financial Results for the Period Ending on 2023-03-31 ( Three Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	163.84	172.38	-4.95	199.95	-18.06
Gross Profit (Loss)	25.22	27.48	-8.22	39.87	-36.74
Operational Profit (Loss)	-17.19	-17.5	-1.77	-8.12	111.7
Net Profit (Loss) after Zakat and Tax	-34.34	-31.99	7.35	-26.35	30.32
Total Comprehensive Income	-34.78	-32.83	5.94	-26.53	31.1
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Share Holders Equity (after Deducting Minority Equity)	255.38	339.21	-24.71
Profit (Loss) per Share	-1.09	-1.02
All figures are in (Millions) Saudi Arabia, Riyals

	Accumulated Losses	Capital	Percentage %
	-58.96	315	-18.72
All figures are in (Millions) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Item one - The group’s net loss increased during the current quarter by SAR 2.35 million (7.4%) compared to the same quarter of the previous year, as the group recorded a net loss of SAR 34.34 million during the current quarter compared to a net loss of SAR 31.99 million during the same quarter of the previous year. The financial performance of the Group was according to the following details

1- The group’s revenues decreased by SAR 8.54 million (5%), as it achieved revenues of SAR 163.84 million compared to revenues of SAR 172.38 million, and the performance of its main sectors was as follows

1.1-Hotel sector revenues decreased slightly by SAR 0.49 million (0.5%), as the sector achieved revenues of SAR 96.7 million compared to revenues of SAR 97.19 million, which mainly resulted from the group’s policy to close some low-performing hotels to improve margins profitability, as well as the evacuation of some hotels due to the state's expropriation of their ownership from the lessor (the main shareholder) for the public interest

1.2-Revenues from the entertainment sector decreased by SAR 6.57 million (10%), as the sector achieved revenues of SAR 59.33 million compared to revenues of SAR 65.89 million, which resulted mainly from the impact of revenues on the seasonality of business due to the start of the holy month of Ramadan at the end of the current quarter, which caused a significant decrease in the number of visitors to entertainment centers compared to the same quarter of last year, during which the holy month of Ramadan did not coincide

1.3- Revenues from other sectors decreased by SAR 1.48 million, as those sectors generated revenues of 7.81 million Saudi riyals compared to revenues of SAR 9.29 million

2-The Group's total profit decreased by SAR 2.26 million (8.2%) as it achieved a total profit of SAR 25.22 million compared to a total profit of SAR 27.47 million which resulted mainly from the decrease in the group's revenues as follows

2.1- The total profit of the hotel sector increased by SAR 5.12 million (30.4%) as the sector achieved a total profit of SAR 21.97 million compared to a total profit of SAR 16.85 million which resulted despite the decrease in the sector’s revenues due to the closure of some low-performance hotels This improved the profit margins of the sector

2.2- The total profit of the entertainment sector decreased by SAR 5.83 million (50.9%) as the sector achieved a total profit of SAR 5.63 million compared to a total profit of SAR 11.46 million which was mainly due to the decrease in the sector’s revenues

2.3- The total loss for other sectors increased by SAR 1.54 million (183.3%) as the sectors achieved a total loss of SAR 2.38 million compared to a total loss of SAR 0.84 million which was mainly caused by the decrease in the revenues of those sectors

3-The Group’s operating losses decreased slightly by SAR 0.3 million (1.7%) as it recorded operating losses of SAR 17.19 million compared to operating losses of SAR 17.5 million which resulted despite the decrease in gross profit due to the Group’s continuous efforts to improve efficiency operations and reduce its operating expenses

4- The net loss of the group increased by SAR 2.35 million (7.4%) as it recorded a net loss of SAR 34.34 million compared to a net loss of SAR 31.99 million which resulted despite the decrease in operating losses due to the increase in financing cost resulting from the increase in the lending rate The Saudi Interbank Reference SAIBOR

5-The Group's total comprehensive loss increased by SAR 1.95 million (6%) as it recorded a total comprehensive loss of SAR 34.78 million compared to a total comprehensive loss of SAR 32.83 million which mainly resulted from the increase in net loss

Item Two - Loss per share: The loss per share amounted to 1.09 Saudi riyals per share as at the end of the current quarter of the year 2023 compared to a loss of 1.02 Saudi riyals per share as at the end of the same quarter of the previous year 2022

Item Three - Shareholders' Equity The total shareholders equity amounted to SAR 255.38 million as at the end of the current quarter of 2023 compared to SAR 339.21 million as at the end of the same quarter of the previous year with a decrease in value of SAR 83.83 million (25%)

Item Four - Accumulated losses The accumulated losses amounted to SAR 58.96 million as at the end of the current quarter of the year 2023 which represents 18.7% of the group's subscribed capital, with a value of SAR 315 millionThe reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is Item one -The Group's net loss increased during the current quarter by SAR 8 million (30.3%) compared to the previous quarter, as the group recorded a net loss of SAR 34.34 million during the current quarter compared to a net loss of SAR 26.35 million during the previous quarter, as the group's financial performance was According to the following details

1- Revenues decreased by SAR 36.12 million (18.1%), as the group achieved revenues of SAR 163.84 million compared to revenues of SAR 199.95 million, and the performance of its main sectors was as follows

1.1-Hotel sector revenues increased by SAR 2.14 million (2.3%), as the sector achieved revenues of SAR 96.7 million, compared to revenues of SAR 94.56 million

1.2-Revenues from the entertainment sector decreased by SAR 37.32 million (38.6%), as the sector generated revenues of SAR 59.33 million compared to revenues of SAR 96.65 million

1.3- Revenues from other sectors decreased slightly and amounted to SAR 0.93 million, as those sectors generated revenues of SAR 7.81 million Saudi riyals compared to revenues of SAR 8.74 million

2-Gross profit decreased by SAR 14.66 million (36.8%) as the group achieved a total profit of SAR 25.22 million compared to a total profit of SAR 39.87 million, which resulted mainly from the decrease in the group's revenues

2.1- The total profit of the hotel sector decreased by SAR 1.79 million (7.5%), as the sector achieved a total profit of SAR 21.97 million compared to a total profit of SAR 23.76 million, which resulted despite the increase in the sector’s revenues

2.2- The total profit of the entertainment sector decreased by SAR 10.45 million (65%), as the sector achieved a total profit of SAR 5.63 million compared to a total profit of SAR 16.08 million, which was mainly due to the decrease in the sector’s revenues

2.3- The total loss for other sectors increased by SAR 2.41 million, as the sectors achieved a total loss of SAR 2.38 million compared to a total profit of SAR 0.03 million, which mainly resulted from the decrease in the revenues of those sectors

3- Operating losses increased by SAR 9.1 million (111.8%), as the group recorded operating losses of SAR 17.19 million compared to operating losses of SAR 8.12 million, which mainly resulted from the decrease in gross profit

4- The net loss increased by SAR 8 million (30.3%), as the group recorded a net loss of SAR 34.34 million compared to a net loss of SAR 26.35 million, which was mainly due to the increase in operating losses

5-The total comprehensive loss increased by SAR 8.25 million (31.1%) as the group recorded a total comprehensive loss of SAR 34.78 million Saudi riyals compared to a total comprehensive loss of SAR 26.53 million Saudi riyals, which mainly resulted from the increase in net lossStatement of the type of external auditor's report Unmodified conclusionModification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion We draw attention to Note 2 to the accompanying condensed consolidated interim financial statements, which indicates that the Group incurred a net loss of Saudi Riyals 34.34 million for the three-month period ended 31 March 2023 resulting in accumulated losses of Saudi Riyals 58.96 million as at 31 March 2023. In addition, the Group’s current liabilities exceeded its current assets by Saudi Riyals 261.30 million as at that date. The Group is mainly dependent on the successful execution of its business plans to generate sufficient cash flows so as to enable it to both meet its obligations as they fall due and maintain the continuity of its operations without significant curtailment. These conditions, along with other matters as set forth in Note 2, indicate the existence of a material uncertainty that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.Reclassification of Comparison Items During the current period, the Group has reassessed the presentations of certain items in the interim condensed consolidated financial statements. This was to ensure that the proposed disclosures were in compliance with the requirements of IAS 1 Presentation of Financial Statements as approved in the Kingdom of Saudi Arabia. As a result, some comparative figures have been restated to reflect changes in presentation in the current period.Additional Information no

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.