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Lazurde Company for Jewelry announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 721.2 | 531.7 | 35.64 | 452.7 | 59.31 |
| Gross Profit (Loss) | 71.6 | 79.9 | -10.387 | 33.4 | 114.371 |
| Operational Profit (Loss) | 25.7 | 32.1 | -19.937 | 0.6 | 4,183.333 |
| Net profit (Loss) | 13.3 | 28 | -52.5 | -13.1 | - |
| Total Comprehensive Income | 14 | -39.8 | - | -21.9 | - |
| 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) | 293.3 | 320.6 | -8.515 |
| Profit (Loss) per Share | 0.23 | 0.49 | |
| 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 | The following factors mainly explain the changes in group revenues in the first quarter of 2025: 1. Group total revenues, including gold metal value, were SAR 721.2 million in the first quarter of 2025, an increase of 35.6% compared to SAR 531.7 million in the same quarter of last year. 2. Group operating revenues, which better represent revenues of the Group after excluding gold metal value and its price increase, amounted to SAR 160.5 million in the first quarter of 2025, an increase of 12.2% compared to SAR 143.0 million in the same quarter of last year. Group revenues from retail channel increased by 23% compared to the same quarter of last year due to growth in the like-for-like stores of the existing stores and the extension of the store’s network. In KSA, retail operating revenues were 45% higher than last year due to growth in like-for-like sales of the existing stores and the extension of the store’s network by opening 7 new stores in top locations in the last 12 months. In Egypt, Retail operating revenues grew by 43% in EGP terms and slightly decreased by 6% in SAR, supported by growth in sales of the existing stores and opening of 4 new stores in top locations in the last 12 months. Alos in Egypt, the group continues its success as wholesale operating revenues increased by 71% in EGP terms and by 23% in SAR when compared to the same quarter of last year, due to strong sales of L’azurde gold jewelry in traditional gold souks. |
| 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 following factors mainly explain how the net profit of the first quarter of 2025 was achieved: 1. Group gross profit from operations of SAR 96.8 million was higher by 6.2% when compared to SAR 91.1 million in the same quarter of last year due to higher operating revenues. 2. Group operating profit of SAR 25.7 million was lower by 19.9%, when compared to SAR 32.1 million in the same quarter of last year due to an increase in the provision for Accounts Receivable, driven by the rise in their value with the increase in gold prices. 3. Net profit amounted to SAR 13.3 million compared to SAR 28.0 million in the same quarter of last year, a decrease of 52.5% due to one-off net exchange gain in the first quarter of 2024 of around SAR 20 million on one of its liability accounts denominated in EGP due to EGP devaluation. 4. Basic Earnings per Share (“EPS”) was SAR 0.23 compared to SAR 0.49 in the same quarter of last year 5. Total Shareholders’ Equity on 31 March 2025 was SAR 293.3 million compared to SAR 320.6 million on 31 March 2024, a decrease of 8.5%, due to payment of SAR 17.3 million dividends last year, and a negative movement in the Currency Translation Reserve due to unrealized foreign exchange differences on investment in Egypt. It is worth mentioning that the Currency Translation Reserve is a non-cash item that arises on consolidation only and fluctuates with the fluctuation of the foreign exchange rates and it has no real impact on the company's financial position. Total Shareholders’ Equity excluding the Currency Translation Reserve amounted to SAR 657.4 million compared to SAR 677.2 million on 31 March 2024. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | 1. Group total revenues, including gold metal value, were SAR 721.2 million in the first quarter of 2025, an increase of 59% compared to SAR 452.6 million in the fourth quarter of 2024. 2. Operating revenues of SAR 160.5 million for the first quarter of 2025 were higher than fourth quarter of 2024 by 66% of SAR 96.7 million due to seasonality. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | Net profit of SAR 13.3 million for the first quarter of 2025 compared to loss of SAR 13.1 million for the fourth quarter of 2024 mainly due to higher operating revenues and operating profit in the current period. |
| 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 | Certain comparative figures have been reclassified to conform to current year presentation. |
| Additional Information | For more information, we would like to draw the attention of the shareholders that the Consolidated Financial Statements for the period ended 31 March 2025 will be available on Company’s website (http://www.lazurde.com) under investors’ relations section. |
| Attached Documents |  |
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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