Alandalus Property Co. 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	54.47	53.3	2.19	55.45	-1.77
Gross Profit (Loss)	35.4	36.69	-3.52	32.83	7.83
Operational Profit (Loss)	30.79	34.55	-10.88	30.79	-
Net Profit (Loss) after Zakat and Tax	14.26	19.79	-27.94	13.48	5.79
Total Comprehensive Income	14.26	19.79	-27.94	12.78	11.58
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)	1,073.39	1,059.51	1.31
Profit (Loss) per Share	0.15	0.21
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	The decrease in the net profit attributable to the shareholders of the company is mainly due to:

• Increase in financing cost.

• Increase in the cost of revenues in the retail and hospitality sectors due to increased occupancy rates.

• High marketing, General and administrative expenses.

All these reasons led to a decrease in the net profit for the current quarter compared to the same quarter, despite the increase in revenues in the retail and hospitality sectors, in addition to other revenues.The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is The increase in the net profit attributable to the shareholders of the company during the current quarter compared to the previous quarter is mainly due to the increase in gross profit as a result of the decrease in the cost of revenue in retail sector, in addition to the decrease in zakat provision made up in the current quarter compared to the previous quarter.Statement of the type of external auditor's report Unmodified conclusionReclassification of Comparison Items Certain prior period figures have been reclassified to conform with the presentation in the current periodAdditional Information The company's total revenue for the group increased during the current quarter of the current year 2023 by approximately 2.2% to reach 54.5 million Saudi riyals, compared to 53.3 million Saudi riyals for the same quarter of the previous year. This increase came mainly as a result of an increase in hospitality sector revenues by 5.8% as a result of an improvement in the occupancy rate in 2023, in addition to an increase in retail sector revenues by 2.5%.

Gross profit decreased by approximately 3.5% to reach 35.4 million Saudi riyals during the current period compared to 36.7 million Saudi riyals during the same period of the previous year, due to the increase in the cost of revenues for the company, especially the retail and hospitality sectors, despite the increase in the company’s revenues.

We would like to draw the attention of our valued shareholders, that the condensed consolidated financial statements for the period ending on March 31, 2023, will be available through the company's website at the link below, after sending it to the competent authorities.

The investors presentation for the current period will also be available on the Investor Relations application of Alandalus Property Company for smartphones and tablets, as well as on the company's website under the Investor Relations section and under the Investors Presentation section.

http://www.alandalus.com.saAttached Documents

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