Alqemam for Computer Systems Co. announces its Interim Financial results for the period ending on 2025-06-30 ( Six Months )
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 5,727,733 | 16,476,220 | -65.236 | ||
| Net profit (Loss) | -9,533,261 | 4,592,486 | - | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 69,990,607 | 75,241,137 | -6.978 | ||
| Profit (Loss) per Share | -3.18 | 1.53 | |||
| 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 | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Net revenues decreased by 65% during the first half of 2025 compared to the same period in 2024, due to the following reasons:
The Company’s continued efforts to innovate, produce, and develop distinguished products and services, and to test them prior to sale, which negatively affected revenue growth during the period.
Working on establishing a revenue model to achieve sustainable revenue growth, in addition to enhancing long-term competitiveness.
Adapting to technical updates in government platforms to ensure that the provided solutions comply with new requirements, which necessitated additional preparation periods.
The advancements in the scope and quality of government projects, which require a preparation period for products and services to keep pace with this qualitative leap in projects. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit decreased by 308% during the first half of 2025 compared to the same period in 2024, mainly due to:
A 65% decline in revenues during the first half of 2025 compared to the same period of the previous year.
A 36% increase in general and administrative expenses during the first half of 2025 compared to the same period of the previous year.
A 36% increase in selling and marketing expenses during the first half of 2025 compared to the same period of the previous year.
A 270% increase in expected credit losses during the first half of 2025 compared to the same period of the previous year, mainly due to delays in the collection of receivables from government sector clients and the aging of such receivables beyond 360 days. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | -none |
| Additional Information | -none |
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