| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 6,945.62 | 6,883.21 | 0.91 | ||
| Gross Profit (Loss) | 817.48 | 1,522.64 | -46.31 | ||
| Operational Profit (Loss) | 1,254.49 | 948.12 | 32.31 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 449.43 | 17.15 | 2,520.58 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 385.37 | 34.32 | 1,022.87 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 5,609.78 | 5,224.41 | 7.38 | ||
| Profit (Loss) per Share | 1.8 | 0.07 | |||
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) 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 increase in revenue is mainly due to the increase in water and gas revenue as well as the increase in the revenue of Tawreed (wholly owned subsidiary). |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The increase in net profit is mainly due to: • Increase in the revenue of Tawreed (wholly owned subsidiary), by 13.61 % amounting to SAR 350.50 million. • An Increase in water and gas revenue by 4.08 % amounting to SAR 107.71 million. Quantity sold for power segment has increased by 10.54%, amounting to SAR 58.34 million which was offset by a one-time adjustment related to High Intensity Electricity Consumption Tariff (HIECT) amounting to SAR 475.50 million. • A decrease in finance costs by 9.73 % amounting to SAR 101.52 million. • An increase in other operating income by 18.86 % amounting to SAR 41.95 million. • Recording a provision for expected credit loss amounting to SAR 496.20 million last year related to High Intensity Electricity Consumption Tariff (HIECT). (for more on non-recurring adjustment see the additional information) The increase has been offset by: • An increase in fuel costs used in production processes by 27.28 % amounting to SAR 515.71 million. • An increase in power and water purchases by 17.31 % amounting to SAR 151.03 million. • An increase in power transmission charges by 48.91 % amounting to SAR 18.80 million. |
| 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) | N/A. |
| Reclassification of Comparison Items | NO |
| Additional Information | 1. Additional Information Related to High Intensity Electricity Consumption Tariff On 27 April 2025, the Company received a notification from Saudi Electricity Regulatory Authority (SERA) for amendment of electricity consumption tariff for establishments that are not eligible for HIECT in the Industrial, Commercial and Agricultural sectors with an increase of 2 halala/Kwh. The amendment come into effect on 28 May 2025, the Company applied HIECT, resulting in the following adjustments: • Non-recurring adjustment of revenue in accordance of IFRS 15: Revenue from power segment has decreased by SR 475.50 million related to previous periods, due to the issuance of credit notes for qualified customers as a result from the reduction of tariff for the periods from January 1st, 2023 to December 31st, 2024. • Non-recurring reversal of the provision for impairment loss on trade receivables: Company reversed a related impairment provision of SR 496.20 million (inclusive of VAT) pertaining specifically to the receivables of customers eligible for the HIECT. • The net impact on Consolidated Statement of Income: the above adjustments had a positive impact on Consolidated Statement of Income with an amount of SR 20.70 million. |
| Attached Documents | Attached Documents |
