| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 176,172,372 | 263,788,210 | -33.21 | ||
| Gross Profit (Loss) | 23,224,393 | 56,723,738 | -59.06 | ||
| Operational Profit (Loss) | -39,813,387 | 6,628,300 | - | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -45,797,936 | 459,379 | - | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -45,979,606 | 208,917 | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 26,908,796 | 60,902,021 | -55.82 | ||
| Profit (Loss) per Share | -0.38 | 0 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -148,434,801 | -123.7 | |
| All figures are in (Actual) 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 | The decrease in revenues during 2025 compared to the previous year is attributed to delays in the delivery and execution of certain projects. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The shift to a net loss in 2025, compared to a net profit in the previous year, is attributed to a decline in revenues, an increase in operating costs, as well as the recognition of an impairment provision on trade receivables amounting to SAR 31.7 million, and an amortization provision for assets amounting to SAR 1 million. |
| Statement of the type of external auditor's report | Conservation |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | During the year ended 31 December 2024, management restated revenues and related accounts for prior years. However, no corresponding adjustments were made to the cost of revenues for the year ended 31 December 2023 or to accrued project costs up to that date. Accordingly, we were unable to verify the accuracy of the comparative financial information related to the cost of revenues for the year ended 31 December 2024 through alternative audit procedures, nor were we able to determine whether any adjustments might have been necessary to the financial statements for the year ended 31 December 2024. |
| Reclassification of Comparison Items | Not Applicable |
| Additional Information | The Company would like to announce that the loss per share for the current year 2025 amounted to SAR (0.382), compared to earnings per share of SAR 0.004 for the previous year 2024. During 2025, the Company’s operating losses before provisions amounted to SAR (7.04) million. The financial results were further impacted by the recognition of an impairment provision on trade receivables amounting to SAR 31.7 million, in addition to an amortization provision for assets of SAR 1 million. Accordingly, total operating losses after accounting for these items amounted to SAR (39.8) million. Accumulated losses as at the end of the current year amounted to SAR (148,434,801) , representing (123.70%) of the Company’s capital. The reasons for these losses are as follows: Recognition of impairment provisions on customer accounts. Increase in operating costs. Delays in the execution of certain projects, which impacted revenues. The actions to be taken by the Company in relation to these losses: Studying options for capital restructuring and improving operational efficiency, collections, and the Company’s financial position. Focusing on the execution of existing projects and growing revenues from new projects. Transfer of the statutory reserve balance amounting to SAR 13.5 million, as per the financial statements for the year ended 31/12/2025, to accumulated losses (previously approved at the Extraordinary General Assembly meeting held on 26/03/2026, and announced on 29/03/2026) Transfer of the share premium balance amounting to SAR 41.7 million, as per the financial statements for the year ended 31/12/2025, to accumulated losses (previously approved at the Extraordinary General Assembly meeting held on 26/03/2026, and announced on 29/03/2026) Date of reaching accumulated losses: 31/12/2025 Date of Board of Directors’ awareness of the accumulated losses: 05/05/2026 Last date for the Board to disclose its recommendations regarding the accumulated losses: 04/07/2026 Last date for the Board to call for an Extraordinary General Assembly meeting to consider the continuation of the Company: 01/11/2026 The procedures and instructions applicable to listed companies on the Saudi Exchange whose accumulated losses reach 20% or more of their capital will be applied. The above dates are determined in accordance with Article 132 of the Companies Law, which stipulates the following: If the losses of a joint stock company reach half of its issued capital, the Board of Directors must disclose this within 60 days from the date of its awareness, along with its recommendations regarding such losses. The Board must also call for an Extraordinary General Assembly meeting within 180 days from the date of its awareness to consider the continuation of the Company by taking the necessary measures to address such losses or to dissolve the Company. |