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Rasan Information Technology Co. announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )
8313
RASAN
-1.44
%
1446/11/02 30/04/2025 08:02:16
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 120.511 | 66.934 | 80.044 | 117.871 | 2.239 |
| Gross Profit (Loss) | 85.76 | 40.042 | 114.175 | 93.296 | -8.077 |
| Operational Profit (Loss) | 29.796 | 9.937 | 199.849 | 41.854 | -28.809 |
| Net profit (Loss) | 30.001 | 9.473 | 216.7 | 39.789 | -24.599 |
| Total Comprehensive Income | 30.049 | 14.03 | 114.176 | 39.201 | -23.346 |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 450.471 | 135.539 | 232.355 |
| Profit (Loss) per Share | 0.39 | 0.13 | |
| 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 | - | - | |
| 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 | Sales in the first quarter of 2025 increased by 80% compared to the same quarter of the previous year. This growth is attributed to several key factors: An increase in the number of policies sold, reflecting higher demand and improved effectiveness of the sales teams, as well as the acquisition of new customers. The launch of new channels and business lines, with new lines such as travel insurance and domestic worker insurance, Medical Malpractice introduced, contributing to revenue growth. Cross-selling and upselling initiatives, as some existing products experienced growth through cross-selling efforts. New features were offered to customers, leading to an increase in average sales and enhanced customer satisfaction. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profits in Q1 2025 increased by 217% compared to the previous year Q1, due to the following reasons: 1-improving the the gross profit margin by 11.4p.p.(59.8% during Q1 2024 compared to 71.2% during Q1 2025), driven by scale, product mix, up and cross-selling and enhanced operational efficiency. 2-Enhanced the EBITDA by 148 % compared to the same quarter of last year driven by enhancing the operating efficiency. 3-Higher other income driven by the returns of the term deposits |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | Revenues in the first quarter of 2025 increased by 2% compared to the previous quarter. This increase is contrary to the seasonal sales pattern of past years, which typically focused on the second half of the year and saw a slight decline at the beginning of the first quarter. The rise is mainly attributed to the impact of launching some new products and a change in the mix of certain existing products. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit in the first quarter of 2025 decreased by 25% compared to the fourth quarter of 2024. This decline is attributed to the following reasons: The company's earnings cycle and product launch timing, as historically the third and fourth quarters are the most profitable during the year. Investment in the development of new products scheduled for upcoming launches, along with intensified marketing campaigns for recently launched products. Completion of the first-year employee stock allocation under the previously approved Employee Stock Ownership Plan (ESOP), and the inclusion of its related costs. |
| 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) | None |
| Reclassification of Comparison Items | None |
| Additional Information | There will be an invitation to the shareholders and financial analyst to attend the conference call for discussing the financial results for the period ending with 31/03/2025 and it will be announced during this week. |
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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