| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 155,367.76 | 177,373.73 | -12.41 | ||
| Gross Profit (Loss) | 1,217.41 | 9,655.45 | -87.39 | ||
| Operational Profit (Loss) | -67,170.62 | -23,497.44 | 185.86 | ||
| Net profit (Loss) | -73,105.42 | -30,889.17 | 136.67 | ||
| Total Comprehensive Income | -73,079.69 | -30,936 | 136.23 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 80,978.26 | 154,057.95 | -47.44 | ||
| Profit (Loss) per Share | -4.62 | -1.95 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | 77,386.14 | 48.95 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | - Decrease in sales of branches. |
- Decrease in revenues from contracts and franchises.
- Decrease in revenues from contracts and franchises.
- Increase selling and marketing expenses.
- Impairment expense in the value of the right to use assets.
- Impairment expense in the value of land.
- Foreign currency valuation.
- Losses from Impairment in Investment from investment in the associate.
We would like to draw attention to Note No. (32) to the consolidated financial statements, which indicates that the Group's accumulated losses as of December 31, 2024, amounted to (77,386,141 SR), representing 48.9% of the share capital (2023:(4,377,410 SR), representing 2.8% of the share capital). Additionally, the Group's current liabilities exceeded its current assets, resulting in a working capital deficit of (35,233,245 SR), (2023: 10,226,953 SR). Nevertheless, the Group primarily relies on the execution of its business plans to generate sufficient cash flows to meet its obligations as they fall due and to continue its operations without significant shortfalls. The Group's management believes that the consolidated financial statements have been prepared on a going concern basis.
These matters, along with other factors outlined in Note No. (32), may indicate the existence of significant uncertainty regarding the Group's ability to continue as a going concern. Our opinion has not been modified in respect of this matter.
- Some comparative figures have been reclassified to the consolidated statement of cash flows for the period ended 31 December 2023 compared to the financial statements for the period ended 31 December 2024. It has an impact on net cash generated from operating activities, cash and cash equivalents at the end of the year (SAR 108,724).
- The gross profit for the current period, 2024, amounted to 1,217,411 SR, compared with gross profit of 9,655,452 SR for the comparative period 2023. with a decrease of 8,438,041 SR, and percent of 87.39 %.
-The operating loss for the current period 2024, amounted to - 67,170,616 SR compared to an operating loss of - 23,497,442 SR for the comparative period 2023. With an increase of 43,673,174 SR, and percent of 185.86 %.
- The net loss (after zakat and tax) for the current period 2024 amounted to -73,105,420 SR compared to a net loss (after zakat and tax) of - 30,889,166 SR for the comparative period 2023. With an increase of 42,216,254 SAR, and percent of 136.67%.
- The total comprehensive loss for the current period 2024. amounted to - 73,079,688 SR, compared to a comprehensive loss of - 30,936,002 SR for the comparative period 2023. With an increase of 42,143,686 SR, and percent of 136.23 %.
- The amount of loss per share for the current period 2024 is -4.62 SR compared to a loss per share of -1.95 SR. for the comparative period 2023.
- The total shareholders’ equity (after excluding minority rights) for the current period 2024. amounted to 80,978,257 SR compared to 154,057,945 SR for the comparative period 2023.with a decrease of 73,079,688 SR, and percent of 47.44 %.
The accumulated losses :
- The accumulated losses at the end of the current period amounted to - 77,386,141 SR, and percent of 48.95% of the capital.
The reason for loss:
- Decrease in sales.
- Decrease in revenues from contracts and franchises.
- Increase selling and marketing expenses.
- Impairment expense in the value of the right to use assets.
- Impairment expense in the value of land.
- Foreign currency valuation.
- Losses from Impairment in Investment from investment in the associate.
- The company's share of the associate's losses.
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.