| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 16.75 | 16.49 | 1.576 | 14.75 | 13.559 |
| Gross Profit (Loss) | -3.2 | -3.84 | -16.666 | -4.44 | -27.927 |
| Operational Profit (Loss) | -10.4 | -7.3 | 42.465 | -10.88 | -4.411 |
| Net profit (Loss) | 10.66 | -56.34 | - | -11.46 | - |
| Total Comprehensive Income | 10.66 | -56.34 | - | -11.46 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 44.59 | 40.98 | 8.809 |
| Gross Profit (Loss) | -8.66 | -11.58 | -25.215 |
| Operational Profit (Loss) | -29.2 | -23.82 | 22.586 |
| Net profit (Loss) | -9.55 | -73.92 | -87.08 |
| Total Comprehensive Income | -9.55 | -73.92 | -87.08 |
| Total Shareholders Equity (after Deducting Minority Equity) | 92.48 | 132.46 | -30.182 |
| Profit (Loss) per Share | -0.64 | -4.93 | |
| 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 | 57.5 | 38 | |
| 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 | The increase in revenues during this quarter compared to the same quarter of the previous year is due to the increase in sales of cement products in the subsidiary |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the increase of the net profit during the current quarter compared to the same quarter of the previous year is due to increase in the other revenues. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for the increase in revenues during this quarter compared to the previous quarter is due to the high demand for cement products in the subsidiary |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for the increase in net profit during the current quarter compared to the previous quarter is due to the increase in other revenues |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in revenues during this quarter compared to the same quarter of the previous year is due to the increase in sales of cement products in the subsidiary |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The decrease in net losses during this period compared to the same period of the previous year is due to higher other income and no impairment loss of property and equipment |
| 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) | Material uncertainty related to going concern We draw attention to note (4) to the interim condensed consolidated financial statements, which indicates that the Group incurred a net loss of SAR 9.5 million for the nine-month period ending September 30, 2025, and that the accumulated losses as at that date amounted to SAR 57 million, representing 38% of the share capital. Furthermore, the Group reported negative operating cash flows of SAR 15 million for the nine-month period ending September 30, 2025. As the Group continues to incur losses, these conditions, along with other matters as set out in note (4), indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our conclusion is not modified in respect of this matter. |
| Reclassification of Comparison Items | N/A |
| Additional Information | • The announcement of the interim financial results was accompanied by a decrease in accumulated losses from 45.45% of the Company’s share capital as of 30/06/2025 to 38% as of 30/09/2025, representing accumulated losses of SAR 57.5 million. • The decrease in accumulated losses is mainly attributable to the Company achieving a net profit of SAR 11 million during the period, primarily driven by an increase in other revenues of SAR 21.83 million resulting from the sale of the second factory. • Pursuant to the recommendation of the Board of Directors issued on 08/07/2024 AD to increase the Company’s capital through a rights issue, the Company aims to support its growth strategy, which focuses on diversifying its products by expanding the cement products segment through the Saudi Land Factory — a project that commenced production and actual sales in 2024 — as well as by establishing the high-density plastic pipes and fittings factory currently under construction, thereby enhancing the Company’s operational efficiency and strengthening its financial position. • The capital increase process is also underway, as the company appointed a financial advisor on 22/08/2024 to arrange the capital increase process. • Please note that the company is implementing the procedures and instructions issued by the Capital Market Authority regarding companies whose shares are listed on the Saudi Stock Exchange and whose accumulated losses have reached more than 20% of their capital |
