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November 6, 2025| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 12,653,328 | 11,132,498 | 13.661 | 10,020,379 | 26.275 |
| Gross Profit (Loss) | 5,738,256 | 4,268,205 | 34.441 | 3,428,284 | 67.379 |
| Operational Profit (Loss) | -2,957,203 | -1,554,200 | 90.271 | -3,508,013 | -15.701 |
| Net profit (Loss) | -3,358,889 | -1,510,373 | 122.388 | -3,642,613 | -7.789 |
| Total Comprehensive Income | -3,358,889 | -1,510,373 | 122.388 | -3,642,613 | -7.789 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 34,306,209 | 27,822,539 | 23.303 |
| Gross Profit (Loss) | 14,133,294 | 9,130,047 | 54.799 |
| Operational Profit (Loss) | -9,034,689 | -15,262,768 | -40.805 |
| Net profit (Loss) | -9,533,681 | -15,149,329 | -37.068 |
| Total Comprehensive Income | -9,533,681 | -15,149,329 | -37.068 |
| Total Shareholders Equity (after Deducting Minority Equity) | 123,227,503 | 112,623,415 | 9.415 |
| Profit (Loss) per Share | -0.1 | -0.15 | |
| All figures are in (Actual) 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 (Actual) 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 sales during the current quarter compared to the same quarter of the previous year by 13.66% is due to: – Increased revenues from government projects. |
| 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 increase in net loss during the current quarter compared to the same quarter of the previous year by 122.39% is due to: The increase in administrative expenses of subsidiary startups. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The increase in sales during the current quarter compared to the previous quarter by 26.28% is due to – increased revenues from government projects |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | he decrease in net loss during the current quarter compared to the previous quarter of this year by 7.79% is due to an increase in 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 the current period compared to the same period of the previous year by 23.30% is due to: – Increased revenues from government projects. |
| 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 loss during the current period compared to the same period of the previous year by 37.07% is due to – Increased revenues in the current period – Decreased administrative and general expenses in the current period |
| Statement of the type of external auditor’s report | Conservation |
| 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 interim condensed consolidated statement of financial position includes intangible assets for Arab Sea Information Systems Company with carrying amount of SAR 113.9 million as of 30 September 2025 (31 December 2024: SAR 116.2 million). Due to the presence of certain indicators of impairment of these assets as of 31 December 2024 and the continuation of such indicators up to the date of our review of the interim condensed consolidated financial statements as of 30 September 2025. During the period ended 30 September 2025 management engaged an independent expert to conduct an impairment assessment using specific assumptions as of December 31, 2024. We were unable to obtain sufficient and reliable information and evidence regarding the reasonableness of those assumptions used. Accordingly, we were unable to determine the accuracy of the recoverable amount and the accuracy of related amortization expense of these assets or whether an impairment loss should be recognized, or to determine the potential financial impact on the interim condensed consolidated financial statements. We draw attention to Note 1 of the interim condensed consolidated financial statements, the Group incurred a net loss of SAR 9.5 million for the nine-month period ended 30 September 2025 and, as of that date, the Group’s current liabilities exceeded its current assets, resulting in a negative working capital of SAR 12.8 million. These conditions indicate that a material uncertainty exists that may cast a doubt on the Group’s ability to continue as a going concern. As stated in note 1, the management has made an assessment of the Group’s ability to continue as a going concern, and as result, these interim condensed consolidated financial statements have been prepared on a going concern basis. Our conclusion is not modified in respect of this matter. Other Matter The interim condensed consolidated financial statements of the Group for the three and nine month periods ended 30 September 2024, excluding the adjustments described in Note 20 were reviewed by another auditor who expressed a unmodified conclusion on those interim condensed consolidated financial statements on 11 November 2024 and the consolidated financial statements of the Group as at and for the year ended 31 December 2024, excluding the adjustments described in Note 20, were audited by another auditor who expressed a modified opinion on those consolidated financial statements on 10 April 2025. |
| Reclassification of Comparison Items | We draw attention to Note 20 of the interim condensed consolidated financial statements, which indicates that the comparative information presented as at 1 January 2024 and 31 December 2024, as well as for the three and nine- month periods ended 30 September 2024 have been restated. Our conclusion is not modified in respect of this matter. |
| Additional Information | The auditor reclassified a non-current liability into two parts: a non-current part and a current part. This resulted in current liabilities exceeding current assets. This is an explanation to attention |
كل عام والسعودية تُعانق السماء مجدًا وطموح وإزدهار اللهم ادم علينا الامن والامان والرخاء واحفظ هذه البلاد وقادتها من كل سوء
