Saudi Darb Investment Co. announces its Interim Financial results for the Period Ending on 2025-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 4,642,464 | 4,523,977 | 2.619 | 4,604,174 | 0.831 |
| Gross Profit (Loss) | 3,563,106 | 3,418,171 | 4.24 | 3,474,799 | 2.541 |
| Operational Profit (Loss) | 2,044,441 | 638,307 | 220.291 | 1,653,283 | 23.659 |
| Net profit (Loss) | 1,963,338 | -254,986 | - | 1,571,578 | 24.927 |
| Total Comprehensive Income | 1,963,338 | -254,986 | - | 1,571,578 | 24.927 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 13,808,656 | 13,477,471 | 2.457 |
| Gross Profit (Loss) | 10,543,938 | 10,143,773 | 3.944 |
| Operational Profit (Loss) | 5,108,288 | 6,017,861 | -15.114 |
| Net profit (Loss) | 4,860,826 | 2,664,322 | 82.441 |
| Total Comprehensive Income | 4,860,826 | 2,664,322 | 82.441 |
| Total Shareholders Equity (after Deducting Minority Equity) | 227,914,353 | 223,053,527 | 2.179 |
| Profit (Loss) per Share | 0.022 | 0.008 | |
| 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 | - | - | |
| All figures are in (Actual) 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 increase in revenues during the current quarter compared to the same quarter of the previous year is primarily attributable to higher contract renewal rates and an increase in the occupancy rate. Consequently, revenues grew by 3% compared to the same quarter of the previous year. |
| 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 profit during the current quarter compared to the same quarter of the previous year is mainly due to:
A 73% decrease in the expected credit loss provision, amounting to SAR 509,967 for the current quarter compared to SAR 1,856,523 for the same quarter of the previous year.
A 91% decrease in the Zakat provision, amounting to SAR 74,723 for the current quarter compared to SAR 837,893 for the same quarter of the previous year." |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | There were no material changes in revenues during the current quarter compared to the previous quarter. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The increase in net profit during the current quarter compared to the previous quarter is mainly due to a decrease in the expected credit loss provision, which amounted to SAR 509,967 for the current quarter compared to SAR 848,356 for the previous quarter. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The increase in revenues during the current period compared to the same period of the previous year is mainly due to higher contract renewal rates and an increase in the occupancy rate, resulting in a 2% growth in revenues. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | "The increase in net profit during the current period compared to the same period of the previous year is mainly due to:
A 97% decrease in the Zakat provision, amounting to SAR 94,934 for the current period compared to SAR 3,165,309 for the same period of the previous year.
Despite this, there was an increase in the expected credit loss provision to SAR 2,581,013 for the current period compared to SAR 1,291,194 for the same period of the previous year." |
| 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) | "Emphasis of a Matter
We draw attention to notes 8 and 14 to the accompanying interim condensed financial statements, which describes the legal case on the assets exchange with Al - Sata’ah Modern General Contracting Company. The Company has created a provision for expected losses that resulted from the assets exchange contract with Al- Sata’ah Modern General Contracting Company for an amount of SR 26,136,823, where the Company's management believes that the assets that are supposed to be received in the barter transaction have low values and there is a significant impairment on them as a result of their obsolescence; accordingly a provision has been recognized against them for the amount of the performance obligations that the company is obliged to transfer to the other party. In addition, the previously issued court judgment obligating Darb Saudi Investment Company (previously Al-Baha Investment and Development Company) to execute the terms of the contract with Al- Sata’ah Modern General Contracting Company was upheld. Our conclusion is not modified in respect of this matter." |
| Reclassification of Comparison Items | no changes |
| Additional Information | "Earnings per share is calculated on the basis of the net results of the period attributable to the shareholders of the company divided by the weighted average
number of shares issued. The diluted earnings per share is the same as the basic earnings per share since the company does not have dilutive instruments issued during the period. On April 8, 2025, the Extraordinary General Assembly Meeting was held, and it was voted to amend the nominal value of the share to become One Saudi Riyal instead of ten halalas (0.10) per share; accordingly, the number of shares becomes 218,295,000 nominal shares instead of 2,182,950,000 nominal shares. As a result, the weighted average number of shares was adjusted to 218,295,000 shares. In accordance with the requirements of International Accounting Standard (IAS) 33 – Earnings per Share, the weighted average number of shares has been retrospectively adjusted for all periods presented, as follows:
Current Period: 218,295,000
Same Period of the Previous Year: 218,295,000
Basic and Diluted Earnings per Share for the Company’s Shareholders:
Current Period: SAR 0.0223
Same Period of the Previous Year: SAR 0.0081" |
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