| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 244,311,341 | 256,504,047 | -4.75 | ||
| Gross Profit (Loss) | -94,394,954 | 34,837,826 | - | ||
| Operational Profit (Loss) | -141,629,864 | -15,196,170 | 832.01 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | -206,564,677 | -27,731,380 | 644.88 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -206,392,485 | -27,990,789 | 637.36 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 910,091,576 | 1,116,484,061 | -18.48 | ||
| Profit (Loss) per Share | -1.9 | -0.26 | |||
| 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 | -130,845,274 | -0.12 | |
| 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 revenue during the current year compared to the prior year is attributable to lower sales volumes, despite an improvement in average selling prices. |
| 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 for the current year compared to the prior year is attributable to lower revenue and higher cost of sales, in addition to the Group’s recognition of the financial impact of material inventory discrepancies in clinker stock within the results for the financial year ended 31 December 2025.During the annual physical count of inventory, the Group identified material inventory discrepancies in clinker stock amounting to SAR 97.8 million. Executive management has initiated detailed reviews and analyses of inventory movements and related data for the period from 2022 to 2025. Preliminary findings indicate that these discrepancies may have accumulated over prior periods, in addition to deficiencies in certain measurement and recording processes that affected the accuracy of inventory balances.The Group has also engaged a specialized technical firm to conduct independent reviews and examinations of this matter to support the review and analysis process and enhance the reliability of inventory-related data and procedures.Based on the best estimates available at the date of preparation of the financial statements, the Group recognized the financial impact of these discrepancies within the results for the current financial year in accordance with applicable accounting standards.The outcome of the ongoing review and analysis procedures may result in additional accounting adjustments or treatments in future periods, if any, in accordance with applicable accounting standards and relevant disclosure requirements |
| 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) | Qualified Opinion During the year ended 31 December 2025, management recognized inventory loss of 97.8 million relating to work-in-progress inventory. This loss resulted from discrepancies between management’s inventory records and management’s expert report related to inventory year-end physical count. Consequently, management has engaged an external consultant to investigate this matter. The investigation is still ongoing as of the date of our report. Accordingly, we were unable to ascertain whether this loss pertains to the current year or prior years. Other matter The Group’s consolidated financial statement for the year ended 31 December 2024 were audited by another auditor who issued unmodified opinion on those consolidated financial statements on 30 Shawwal 1446H corresponding to 28 April 2025. |
| Reclassification of Comparison Items | Certain prior year comparative figures have been reclassified to conform with the presentation used in the current year ended 31 December 2025. |
| Additional Information | The external auditor indicated in his report a qualified opinion related to the unavailability of sufficient appropriate audit evidence to enable him to determine whether the inventory discrepancies recognized during the current year relate to the current year or to prior periods, and whether there may be any impact on prior periods.The external auditor further clarified that management recognized a loss related to discrepancies in work-in-progress inventory, and that the review and analysis procedures related to this matter are still ongoing as of the date of the auditor’s report.The Group confirms its continued full cooperation with the Audit Committee and the external auditor, and the completion of the review and analysis procedures related to this matter, in a manner that strengthens control and governance procedures and ensures compliance with disclosure and transparency requirements and the protection of shareholders’ interests |
