| Element List | Explanation |
|---|---|
| Date of Publishing the Previous Announcement Sought to be Corrected on Saudi Exchange’s Website | 2026-03-11 Corresponding to 1447-09-22 |
| Hyperlink to the Previous Announcement | Click Here |
| Incorrect statements in the previous announcement | The company announced that: -Operational Profit (Loss): Current Year: 219.4 m Previous Year: 187 m Change %: 17.33 -Net Profit (Loss) Attributable to Shareholders of the Issuer Current Year: 200.4 m Previous Year: 94.4 m Change %: 112.29 -Total Comprehensive Income Attributable to Shareholders of the Issuer: Current Year: 207.1 m Previous Year: 98.6 m Change %: 110.04 -Total Shareholders Equity (after Deducting Minority Equity) Current Year: 1,979.6 m Previous Year: 717.7 m Change %: 175.82 -Profit (Loss) per Share: Current Year: 4.54 Previous Year: 2.7 The reason of the increase (decrease) in the net profit during the current year compared to the last year is: Net profit for FY25 increased by 112.3% year-on-year, primarily driven by higher revenues resulting from increased patient volumes and admissions, as well as a more favorable case mix with a higher proportion of complex and specialized procedures. The increase was also supported by the expansion of clinical services through the addition of new clinics across various specialties, which enhanced service capacity and contributed to higher patient activity. Profitability was further supported by improved operational efficiency and stronger cost management across the Group’s hospitals and medical centers. In addition, the Group recorded lower finance costs following the settlement of certain financing facilities earlier in the year after the IPO, which positively impacted the bottom line. The Company’s operating earnings for the period include a non-cash, unrealized loss of SAR 6.4 million relating to the fair value measurement of its investment in a local fund. Despite the opening of two new medical centers during the year, management maintained close monitoring of operational costs during the ramp-up phase, ensuring that expenses remained aligned with revenue generation. The Group benefited from economies of scale, enabling more efficient utilization of resources and supporting overall profitability growth while Almoosa group continued to expand its spectrum of services and increasing its network. |
| Correct Statement | The Company would like to clarify and confirm that: -Operational Profit (Loss) Current Year: 225.7 m Previous Year: 187.0 m Change %: 20.72 Please refer to the additional information section for more details. -Net Profit (Loss) Attributable to Shareholders of the Issuer Current Year: 236.5 m Previous Year: 49.4 m Change %: 379.28 Please refer to the additional information section for more details. -Total Shareholders Equity (after Deducting Minority Equity) Current Year: 1,924.2 m Previous Year: 626.3 m Change %: 207.25 Please refer to the additional information section for more details. -Total Comprehensive Income: Current Year: 243.2 m Previous Year: 53.6 m Change %: 353.90 -Profit (Loss) per Share Current Year: 5.36 Previous Year: 1.41 Please refer to the additional information section for more details. The reason of the increase (decrease) in the net profit during the current year compared to the last year is: Net profit for FY2025 increased by 379.3% year-on-year, primarily driven by higher revenues resulting from increased patient volumes and admissions, as well as a more favorable case mix with a higher proportion of complex and specialized procedures. The increase was also supported by the expansion of clinical services through the addition of new clinics across various specialties, which enhanced service capacity and contributed to higher patient activity. Profitability was further supported by improved operational efficiency and stronger cost management across the Group’s hospitals and medical centers. In addition, the Group recorded lower finance costs following the settlement of certain financing facilities earlier in the year after the IPO, which positively impacted the bottom line. The Company’s operating profit for FY2025 increased to SAR 225.7 million, following the classification of the loss on investment as a non-operating item. Net profit for the period was also affected by non-cash items arising from the mark-to-market valuation of derivative instruments and treatment of fair value loss on investments. Based on the adopted treatment, the MTM valuation of the derivatives as at December 31, 2023 resulted in a reduction of SAR 46.4 million, which was adjusted against the opening balance of shareholders’ equity for FY2024. The incremental non-cash MTM loss of SAR 45.1 million related to FY2024 was recognized in the income statement for that year, while FY2025 reflected a favorable non-cash mark-to-market movement of SAR 36.2 million, which was recognized as a gain in FY2025. This positive movement was partially offset by the recognition of a non-cash loss of SAR 6.4 million relating to an investment during the period. Despite the opening of two new medical centers during the year, management maintained close monitoring of operational costs during the ramp-up phase, ensuring that expenses remained aligned with revenue generation. The Group benefited from economies of scale, enabling more efficient utilization of resources and supporting overall profitability growth, while continuing to expand its spectrum of services and network. |
| Additional Information | The Company would like to clarify that this correction announcement relates to applying the fair value of investments and the adoption of fair value measurement using the mark-to-market (MTM) approach for derivative financial instruments. The Company confirms that these financial instruments were previously disclosed in the prospectus and in prior financial statements. These items are non-operational in nature and have no current cash impact nor any effect on the Company’s underlying operating performance. It should be noted that these accounting adjustments required the inclusion and restatement of certain comparative items. the Company has recognized a liability for the fair value losses on derivative instruments in accordance with applicable accounting standards. The company restated the opening balance of shareholders’ equity for FY2024, to reflect the cumulative fair value loss arising from the MTM valuation of derivative instruments. Additionally, the fair value movements for FY2024 have been recognized through the Statement of Profit or Loss and Other Comprehensive Income for the year ended 31 December 2024. The Company reaffirms that these adjustments are purely non-operational, and do not impact its core business activities or underlying performance. |
