| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | For FY 2024, Entaj reported Revenue of SAR 1,244.9 million, up by 13.2% year-on-year (YoY), a clear indication of increased market penetration driven primarily by growing poultry sales. The business commenced a campaign of growth into new geographical areas within the Kingdom notably the South, in addition to enhanced presence in the West. In tandem with this, a renewed and sharper focus on the key Modern Trade helped to drive positive growth supported by investment in capacity expansion, additional logistics capabilities and a strengthening of the sales resource in this channel. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit registered a 56.8% YoY decrease, down from SAR 62.7 million in FY23, to reach SAR 27.1 million in FY24. This decline was due to higher revenues offset primarily by higher depreciation (SAR 25 million impact) due to capacity expansion and higher finance costs due to lower interest capitalization (SAR 9 million impact). Furthermore, there was an incremental SAR 8 million impact for bio-assets related primarily due to fair-value remeasurement as well as impairment on day old chicks. |
| 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) | None |
| Reclassification of Comparison Items | None |
| Additional Information | Poultry sales, the key contributor to Entaj’s Revenue (96%), increased 14.3% YoY in FY 2024 to SAR 1,195.5 million. Table eggs revenue (3% of FY 2024 Revenue) grew significantly by 56.5% YoY to SAR 37.5 million. The growth was primarily driven by increased volumes, as Entaj’s products gained greater popularity among consumers, coupled with the expansion of the company’s production capacity. |
| Attached Documents | Attached Documents |
