BAAN Holding Group Co. Announces its accumulated loses reaching 99.28 % of its capital

The results were also affected by the recognition of impairment provisions for certain assets, in addition to book losses resulting from the exit from a number of economically non-viable branches and locations.

This comes within the framework of the Group’s implementation of its transformation strategy, which includes restructuring the business portfolio, exiting non-viable activities, re-evaluating assets, and future expansion into high-quality hotel and entertainment projects, with the aim of improving operational efficiency and enhancing financial sustainability over the medium and long term.

• Work is underway to complete the procedures related to the two agreements signed on 29 December 2024, which include the acquisition of real estate assets through a capital increase of SAR 304.96 million, after obtaining the necessary regulatory approvals.

• Continue restructuring the Group’s sectors to enhance operational and administrative efficiency.

• Expand into new and high-quality entertainment and hotel projects with economically viable returns, after exiting non-economically viable projects and branches.

• Focus on promising sectors, foremost among them the catering sector, to support growth and improve financial performance.

• Continue implementing the strategic transformation program and plan.

The Group affirms its commitment to implementing its transformation strategy and continuing efforts to improve operational efficiency and maximize returns from assets, in a way that enhances its ability to achieve sustainable financial performance and create added value for shareholders in the long term.