| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 601,625 | 671,735 | -10.44 | ||
| Gross Profit (Loss) | 70,708 | 71,336 | -0.88 | ||
| Operational Profit (Loss) | -112,381 | -25,270 | 344.72 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -202,030 | -75,835 | 166.41 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -200,783 | -87,177 | 130.32 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 190,854 | 391,637 | -51.27 | ||
| Profit (Loss) per Share | -2.64 | -1.05 | |||
| 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 | -500,380 | 65.44 | |
| 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 | The decline in revenues during 2025 compared to 2024 is primarily attributable to lower sales volumes, in addition to changes in selling prices, which are linked to raw material prices that witnessed a decline during 2025. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net loss during 2025 compared to 2024 is primarily attributable to lower revenues, higher finance costs, and a decline in other income, in addition to an increase in the share of losses from an associate amounting to SAR 18.9 million during 2025, as well as the recognition of a goodwill impairment loss of SAR 115 million. Despite a decrease in the cost of sales as a percentage of revenues, a reduction in selling, marketing and distribution expenses, and a decrease in general and administrative expenses, in addition to the reversal of expected credit loss provisions and the recognition of a reversal of Zakat provision related to prior years. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | - |
| Reclassification of Comparison Items | Certain comparative figures for the prior period have been reclassified to conform with the presentation of the current period. |
| Additional Information | 1) As disclosed in Note (30) to the financial statements, the loss per share for the financial year ended 31 December 2025 was calculated by dividing the net loss for the period amounting to SAR 202,030 million by the weighted average number of shares of 76.465 million shares, resulting in a loss per share of SAR 2.64. The loss per share for the financial year ended 31 December 2024 has also been restated by dividing the net loss for the period amounting to SAR 75.835 million by the weighted average number of shares of 72.510 million shares, resulting in a loss per share of SAR 1.05. 2) Concurrent with the announcement of the annual financial results, the Company’s accumulated losses reached 65.44% of its capital. This is attributable to the losses incurred during the financial year ended 31 December 2025, primarily resulting from a goodwill impairment loss of SAR 115 million, in addition to an increase in the share of losses from the associate Advanced Fabrics Factory Company (SAAF) amounting to SAR 18.9 million during 2025. In this regard, the Company confirms its commitment to comply with the rules and instructions applicable to companies listed on the Saudi Exchange whose accumulated losses have reached 50% or more of their capital, as issued by the Capital Market Authority. 3) The Company also complies with the provisions of Article (132) of the Companies Law, which stipulates that if the losses of a joint stock company reach half of its issued capital, the Board of Directors shall disclose this fact and its recommendations regarding such losses within (60) days from the date it becomes aware thereof, and shall call for an Extraordinary General Assembly meeting within (180) days from the date of such knowledge to consider the continuation of the Company and to take any necessary measures to address such losses or to dissolve the Company. 4) The Board of Directors was notified of the accumulated losses on 28 April 2026. Accordingly, the deadline for the Board to disclose its recommendations is 27 June 2026, while the deadline to call for an Extraordinary General Assembly meeting to address the accumulated losses is 27 October 2026. |
