| 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 |
The decrease in sales by SAR 9.2 million during the period is primarily attributable to a decline in revenues from government contracts, resulting from the expiry of certain contracts without renewal, in addition to delays in the issuance of new tenders by some government entities. Furthermore, the intensified competition from newly established companies entering the car rental sector by offering lower-priced bids has also contributed to this decline. |
| 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 decrease in net profit by SAR 5.3 million is mainly attributable to the decline in revenues, which exceeded the reduction in costs. In addition, the expired contracts carried higher profit margins compared to the remaining contracts. Furthermore, the change in the contract mix (shifting from long-term government contracts to shorter-term or commercial contracts with lower margins) has negatively impacted profitability efficiency. |
| Statement of the type of external auditor's report |
Unmodified conclusion |
| Reclassification of Comparison Items |
N/A |
Comments