| 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 decrease in revenues during the first quarter of 2025 compared to the first quarter of 2024 is due to a decline in sales volume and lower selling prices, which were linked to raw material prices that declined during the first quarter of 2025. |
| 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 first quarter of 2025 compared to the first quarter of 2024 is attributed to a decline in revenues, an increase in cost of revenues, higher general and administrative expenses, a rise in the share of losses from an associate company, and higher zakat expenses — despite a decrease in selling, marketing, and distribution expenses, lower finance costs, and an increase in other income. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The increase in revenues during the first quarter of 2025 compared to the fourth quarter of 2024 is due to increase in demand during the first quarter, supported by seasonal activity during the month of Ramadan. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The decrease in net loss during the first quarter of 2025 compared to the fourth quarter of 2024 is attributed to higher revenues, lower cost of revenues, reduced general and administrative expenses, lower selling, marketing, and distribution expenses, decreased finance costs, a reduction in the share of losses from an associate company, and lower zakat expenses — despite a decline in other income. |
| 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) | - |
| Reclassification of Comparison Items | Certain figures have been reclassified to comply with the current period presentation of the financial statements |
| Additional Information | (1) According to Note 12 of the financial statements, the loss per share for the financial period ending on March 30, 2025, was calculated by dividing the net loss for the period, amounting to SAR 9.5 million, by the weighted average number of shares, which is 76.4 million shares. This results in a loss per share of SAR (0.12). The loss per share for the corresponding period in the previous year, 2024, was also recalculated by dividing the net loss of SAR 3.9 million by the weighted average number of shares, which is 60.5 million shares. This results in a loss per share of SAR (0.07). (2) In conjunction with the announcement of the annual financial results, the Company’s accumulated losses reached 40.26%, impacted by the losses incurred during the first quarter of 2025. In response, the Company has developed a comprehensive action plan aimed at regularly monitoring financial indicators and proactively taking necessary measures to ensure compliance with regulatory requirements and to strengthen long-term financial stability. It is worth noting that the Company is implementing the procedures and guidelines issued by the Capital Market Authority applicable to listed companies whose accumulated losses exceed 35% of their share capital. |
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