| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | Revenue during the current year increased by SAR 6,032 million (19%) compared to the last year, mainly due to higher commodity market prices for phosphate, aluminum and gold business units. Revenue was further increased due to higher sales volume for phosphate and aluminum business units. This increase in revenue was partially offset by slightly lower sales volume for gold business unit. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit for the current year increased by SAR 4,476 million (156%) compared to the last year, due to higher gross profit by SAR 5,548 million (60%) which is attributable to stronger sales prices and higher sales volumes. Profitability was further supported by an increased share of net profit from joint ventures and an associate, including a one‑off bargain purchase gain of SAR 768 million related to Maaden’s investment in Aluminium Bahrain B.S.C., as well as lower finance cost. This increase in net profit was partially offset by higher operating expenses, which includes one-off expected credit loss allowance of SAR 381 million related to Maaden’s operation in Africa. Net profit was further impacted by higher net zakat, income tax and severance fees. The increase in severance fees was mainly attributable to improved profitability in the gold business unit, driven by higher gold prices, and a one‑off deferred severance expense of SAR 624 million related to aluminum business unit. In addition, the net profit was affected by reduced finance income during the year and the positive impact that one-off insurance claim of SAR 563 million had in the prior year. |
| Statement of the type of external auditor's report | Unmodified opinion |
| 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) | Other matter paragraph mentioned in external auditor’s report: The consolidated financial statements of the Group for the year ended 31 December 2024 were audited by another auditor who expressed an unmodified opinion on those statements on 9 Ramadan 1446H (corresponding to 9 March 2025). |
| Reclassification of Comparison Items | N/A |
| Additional Information | - |
| Attached Documents | Attached Documents |
