| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 4,069,650 | 3,020,204 | 34.75 | ||
| Gross Profit (Loss) | 554,343 | 333,896 | 66.02 | ||
| Operational Profit (Loss) | 235,511 | 155,092 | 51.85 | ||
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 218,299 | 106,032 | 105.88 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 206,999 | 106,773 | 93.87 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,090,040 | 928,786 | 17.36 | ||
| Profit (Loss) per Share | 3.64 | 1.77 | |||
| 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 | - | - | |
| 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 increase in the company's revenue is mainly due to the recognition of revenue from the oil and gas industries sector during the current year (starting from 13th of February 2025), in addition to the increase in revenues in the electrical and plastic industries sectors. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reasons for the increase in net profit during the current year compared to last year are mainly due to the following: - The group's gross profit margin increased from 11% to 14%, as a result of implementing the group's strategic plan to increase the percentage of the contribution of high-margin products in the group's product portfolio. New products in the electrical and plastics industries sectors, in addition to consolidating the results of products from the oil and gas industries sector, contributed to the increase in the group's gross profit margin. - Starting the recognition of revenues and net profit from the newly acquired oil and gas industries sector, which achieved a net profit attributable to the company's shareholders of SAR 152.4 million during the current year. - The increase in net profit of the electrical industries sectors, mainly due to the increase in quantities sold associated with new products and the increase in the average selling prices. - The recognition of a bargain purchase gain of SAR 126.45 million from the newly acquired oil and gas industries sector, recorded upon completion of the purchase price allocation exercise. This gain was offset by additional depreciation and amortization charges of SAR 121.37 million at the Group level, arising from intangible assets identified during the purchase price allocation and the fair value uplift applied to fixed assets. These incremental depreciation and amortization charges at the Group level are expected to continue at broadly similar levels over the near term based on the remaining useful life of the intangible and fixed assets. This increase comes despite the following: - The increase in the operational expenses due to starting the consolidation of the oil and gas industries sector results, in addition to the growth in activities of the electrical and plastic industries sectors. - The decrease in net profit of the metal and wood industries sector, mainly due to the decrease in quantities sold. - The decrease in net profit of the plastic industries sector, mainly due to the increase in the operational expenses and finance costs. - The increase in the finance cost due to the increase in the company's total debt related to the acquisition of the oil and gas industries sector and starting the consolidation of the costs of financing the working capital requirements related to the sector. - The increase in the Zakat expense and the decrease in the other income. |
| Statement of the type of external auditor's report | Other Matter |
| 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) | The consolidated financial statements for the year ended 31 December 2024, were audited by another auditor who expressed an unmodified opinion on those statements on 24 March 2025. |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the current period presentation. |
| Additional Information | During the current year, the company generated Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) of SAR 449.16 million at Group level (excluding one off impact of bargain purchase gain), representing a significant increase of SAR 220.92 million compared to the prior year (2024: SAR 228.24 million). This growth was mainly driven by the contribution of the newly acquired oil and gas industries sector, which generated EBITDA of SAR 232.41 million for the period from the date of acquisition on February 13, 2025. Further support came from improved performance in the electrical industries sector, which contributed an additional SAR 17.38 million, and the plastics industries sector, which delivered an incremental SAR 6.1 million in EBITDA. These gains in EBITDA were achieved despite a decline of SAR 22.52 million in EBITDA from the metal and wood industries sector. |
