Media Center
March 27, 2025| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 43,308,196 | 41,170,429 | 5.19 | ||
| Gross Profit (Loss) | 17,535,613 | 20,683,743 | -15.22 | ||
| Operational Profit (Loss) | -18,048,276 | -8,798,972 | 105.12 | ||
| Net profit (Loss) | -17,700,041 | -9,770,344 | 81.16 | ||
| Total Comprehensive Income | -17,322,377 | -9,238,401 | 87.5 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 121,858,641 | 127,044,393 | -4.08 | ||
| Profit (Loss) per Share | -0.18 | -0.09 | |||
| 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 year compared to the last year | The reason for the increase in revenues this year compared to the previous year is due to: Revenues for the current year increased by 5.192% compared to the previous year due to higher sales from government contracts. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for the increase in net loss for the current year compared to the previous year is due to: – A 46% increase in losses from subsidiaries. – A provision for impairment of receivables amounting to 2,955,190. – A provision for impairment of inventory. |
| 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) | Management conducted an impairment test for the intangible assets of Arab Sea Information Systems Company, with a net carrying value of SAR 116.2 million as of December 31, 2024 (SAR 119.4 million as of December 31, 2023). Due to the lack of sufficient and reliable information and data to support these assumptions, we were unable to obtain sufficient appropriate audit evidence regarding the reasonableness of the estimates used or the accuracy of the recoverable value of these assets. Accordingly, we were unable to determine whether an impairment loss for these assets would be necessary, and the impact thereof on the accompanying consolidated financial statements. We conducted our audit in accordance with International Standards on Auditing (ISAs) that are endorsed in the Kingdom of Saudi Arabia. Our responsibilities under those standards are further described in the “Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements” section of our report. We are independent of the Group in accordance with the International Code of Ethics for Professional Accountants accredited in the Kingdom of Saudi Arabia and we have fulfilled our other ethical responsibilities in accordance with that Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
| Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the current presentation of the financial statements. |
| Additional Information | – |
كل عام والسعودية تُعانق السماء مجدًا وطموح وإزدهار اللهم ادم علينا الامن والامان والرخاء واحفظ هذه البلاد وقادتها من كل سوء
