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Addendum Announcement from Dar Almarkabah for Renting Cars Co. in regards to Company announcement of annual financial results ending 31-12-2025
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement of Dar Al Markabah Car Rental Company published on the Saudi Exchange (Tadawul) website on March 31, 2026 (corresponding to 12 Shawwal 1447H), The Company would like to inform its shareholders that the accumulated losses have reached 26% of the Company’s capital, amounting to SAR 25,000,000, based on the annual financial statements for the year ended December 31, 2025. |
| Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website | 2026-03-31 Corresponding to 1447-10-12 |
| Hyperlink to the Previous Announcement | Click Here |
| Change on the Development | The accumulated losses have reached 26% of the capital, as of December 31, 2025, coinciding with the announcement of the annual financial results. The total accumulated losses amount to SAR 6,620,855, and are attributable to the following reasons: • The Company implemented a restructuring plan during the previous period, which included discontinuing a number of low-profit projects and contracts in order to improve operational efficiency over the medium and long term. • A decline in revenues as a result of the Company’s strategic direction toward diversifying its customer base and reducing reliance on certain sectors, which temporarily impacted business volume. • An increase in operating costs, including financing, insurance, and maintenance costs, in addition to higher depreciation expenses associated with the modernization of the vehicle fleet. • The recognition of financial provisions related to certain receivables and impairment of some assets, in line with the applicable accounting policies. • The operational activity was affected during the period by certain temporary conditions, which impacted fleet utilization rates. The Company also confirms that it will apply the procedures and instructions applicable to companies listed on the Saudi Exchange whose accumulated losses reach 20% or more of their capital. |
| Financial Impact on the change | N/A |
| Additional Information | The Company confirms that these factors are temporary in nature, and that management is currently implementing a number of corrective measures, including: • Enhancing operational efficiency and increasing utilization rates • Expanding into higher-margin segments • Improving cost management and liquidity management |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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