| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 112.74 | 119.15 | -5.379 | 116.86 | -3.525 |
| Gross Profit (Loss) | -1.08 | 2.04 | - | 8.96 | - |
| Operational Profit (Loss) | -7.44 | -5.26 | 41.444 | 2.5 | - |
| Net profit (Loss) | 6.16 | -4.83 | - | -2.97 | - |
| Total Comprehensive Income | 6.16 | -4.83 | - | -2.97 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 399.42 | 382.17 | 4.513 |
| Gross Profit (Loss) | 39.12 | 23.37 | 67.394 |
| Operational Profit (Loss) | 18.01 | 1.97 | 814.213 |
| Net profit (Loss) | 8.88 | -12.44 | - |
| Total Comprehensive Income | 8.88 | -12.44 | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,047.16 | 1,188.72 | -11.908 |
| Profit (Loss) per Share | 0.11 | -0.15 | |
| 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 | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Sales revenue decreased, mainly due to drop in exports as compared to the same quarter of previous year. It is expected that the positive effect of capacity building will post positive impact on sales revenue during subsequent periods. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Company earned Net Profit during this quarter amounting SAR 6,155 thousand against Net Loss of SAR 4,833 thousand, during the same quarter of last year, mainly due to gain on disposal of a Building. Net profit during the period is impacted due to the provision amounting SAR 11.9 M incorporated for Follow-up Cost and balance amount of guarantee which has been claimed by SIDF against the guarantee given to SIDF on behalf of Al-Reef Sugar Company, Artex being a shareholder of 15% in its Share Capital. Moreover, Zakat assessment has been finalized for the year 2023, therefore, additional provision amounting SAR 3.9 M has been incorporated, during this quarter, for the Zakat assessment related to year 2023. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Sales revenue decreased during this quarter mainly due to seasonal factors as historically demand suppresses during 3rd quarter as compared to 2nd quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Company earned Net Profit during this quarter amounting SAR 6,155 thousand against Net Loss of SAR 2,972 thousand during the previous quarter, mainly due to gain on disposal of a Building. Net profit during the period is impacted due to the provision amounting SAR 11.9 M incorporated for Follow-up Cost and balance amount of guarantee which has been claimed by SIDF against the guarantee given to SIDF on behalf of Al-Reef Sugar Company, Artex being a shareholder of 15% in its Share Capital. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Sales revenue marginally increased predominantly due to increase in local sales volume and better pricing in comparison to the same period of last year. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Company earned Net Profit during this period amounting SAR 8,882 thousand against Net Loss of SAR 12,435 thousand during the same period of last year mainly due to gain on disposal of a Building. Net profit during the period is impacted due to the provision amounting SAR 11.9 M incorporated for Follow-up Cost and balance amount of guarantee which has been claimed by SIDF against the guarantee given to SIDF on behalf of Al-Reef Sugar Company, Artex being a shareholder of 15% in its Share Capital. Moreover, Zakat assessment has been finalized for the years 2021, 2022 & 2023, therefore, additional provision amounting SAR 7.9 M has been incorporated, during this period, for the Zakat assessment related to the years 2021,2022 & 2023. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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) | Attention We draw attention to Note (2/5/1) regarding the going concern assumption, which indicates that the Group incurred net losses from continuing operations and net negative cash flows from operating activities during the nine-month period ended September 30, 2025. The Group also received a demand letter from the Saudi Industrial Development Fund for full repayment of the guarantee provided for a loan granted to Al-Reef Sugar Refinery Company, in addition to a demand letter for follow-up fees, totaling SAR 111.9 million. Management has reviewed the impact of this demand and prepared a cash flow forecast for the next twelve months. Management also notes the existence of undrawn bank facilities that support the Group's ability to meet its obligations, as well as a healthy working capital position, with total current assets exceeding total current liabilities by a ratio of 2:1. Accordingly, management believes there is no material doubt affecting the Group's ability to continue as a going concern in the near future. Our conclusion in this regard remains unchanged. |
| Reclassification of Comparison Items | Certain figures for the prior period have been reclassified to conform with presentation in the current period. |
| Additional Information | On November 2, 2025, the Company received an official letter from the Saudi Industrial Development Fund (SIDF) regarding follow-up fees related to Al-Reef Sugar Refinery Company Loan, amounting to SAR 11.12 M, which has been recorded as an expense during the Q3 of 2025. There are no minority rights |
