Jahez International Company for Information System Technology announces its Annual Consolidated financial results for the period ending on 31-12-2024
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 2,218.66 | 1,784.76 | 24.31 | ||
| Gross Profit (Loss) | 541.16 | 405.89 | 33.33 | ||
| Operational Profit (Loss) | 168.86 | 101.9 | 65.71 | ||
| Net profit (Loss) | 187.98 | 125.34 | 49.98 | ||
| Total Comprehensive Income | 189.94 | 126.91 | 49.66 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 1,240.43 | 1,151.52 | 7.72 | ||
| Profit (Loss) per Share | 0.92 | 0.61 | |||
| 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 | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The Group reported Full Year Net Revenue of SAR 2,218.7 million, a 24.3% increase from SAR 1,784.8 million in last year, mainly driven by:
• 25.0% YoY rise in total orders, accompanied by a 20.7% increase in the Active Users YoY while maintaining similar monthly frequency at 4.4 orders.
• Improved take rate from 13.5% in 2023 to 14.6% in 2024, reflecting successful negotiations with key partners and enhancing value per transaction.
• Increased average order value to SAR 61.7 compared to SAR 60.1 in 2023, supported by bundle offerings that enhanced customer value.
Jahez delivered substantial growth in Advertising Revenues (20% YoY) and Online Payments Revenues (39.6% YoY) in KSA and Non KSA platforms.
Additionally, Other Revenues generated by the Group’s new verticals (Sol, Co, and Marn) along with Blu Store, experienced significant YoY expansion (227.7%). This reflects Jahez’s ability to diversify and scale its revenue streams beyond core delivery services. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net Profit attributed to the parent company increased by 50% YoY to SAR 187.9 million at the end of 2024 (SAR 125.3 million in 2023). Net Profit for the Group reached SAR 184.2 million, with an increase of 55% YoY. This growth was primarily driven by better take rate along with optimized customer promotions focused on targeted delivery offers, controlled marketing spending, and reduced delivery costs, enhancing overall profitability.
Delivery Platforms – KSA Segment: The segment recorded a Net Profit of SAR 288.8 million, a significant increase +11% from SAR 258.5 million in 2023.
Delivery Platforms – Non KSA Segment: Net losses narrowed to SAR 59.4 million in 2024, mainly due to higher volumes from full-scale Kuwait operations in 2024 compared to partial operations in 2023. This was coupled with a material enhancement in unit economics, including enhanced revenue per order and cost optimization
Logistics Segment: Net losses increased to SAR 7.8 million, up from SAR 5.9 million in 2023, driven mainly by an aggressive Expected Credit Losses (ECL) provisions on Freelancers receivables.
Others: The Group’s Others Segment reported net losses of SAR 37.5 million in 2024, mainly due to changes in the fair value of the Red Color minority investment portfolio and ramp-up costs in new verticals, including Marn, Sol and Co, as these investments progress in development. |
| 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) | None |
| Reclassification of Comparison Items | None |
| Additional Information | • Jahez Group will be hosting an Earnings Call on Wednesday the 12th of March 2025 at 4:00p.m. KSA Time to present financial results for the full year of 2024. For Earnings Call details, please email IR@jahez.net
• The Consolidated Financial Statements For the year ended 31 December 2023 will be available through the Jahez Group IR App, in addition to Jahez Group’s IR website through the following link:
Jahez Group Financial Information |
| Attached Documents |  |
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