| Element List |
Explanation |
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year |
The company's sales for the fiscal year 2024 decreased by 6.84% compared to the fiscal year 2023. The reason for the decrease is mainly due to the decline in water sector sales as a result of the increasing competition in the bottled drinking water sector, especially contract and wholesale sales. The company aims to diversify sales outlets and expand into new areas to compensate for the decline in affected sales outlets. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is |
Despite the decline in revenues by 6.84%, net profit for the fiscal year 2024 achieved a growth of 21.61% compared to the fiscal year 2023. The reasons for the growth in the company's net profits for the current period are due to a number of reasons, perhaps the most important of which is the decline in the prices of raw materials as well as additional industrial costs, in addition to the company's continuous efforts to control costs to be able to produce at competitive prices. |
| Statement of the type of external auditor's report |
Unmodified opinion |
| 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) |
nothing |
| Reclassification of Comparison Items |
nothing |
| Additional Information |
Net shareholders’ equity as of December 31, 2024 increased by 23% due to a surplus from the revaluation of the company’s lands, in which the company follows the revaluation model, amounting to 10.03 million riyals, in addition to the net profits for the period. The company also distributed cash dividends to shareholders during the period amounting to 3.75 million riyals. |
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