| Element List | Current Year | Previous Year | %Change |
| Sales/Revenue | 877.2 | 776.7 | 12.94 |
| Gross Profit (Loss) | 133.6 | 129.2 | 3.4 |
| Operational Profit (Loss) | 57.5 | 77.1 | -25.42 |
| Net profit (Loss) | 24.6 | 37.8 | -34.92 |
| Total Comprehensive Income | 28.3 | 38.1 | -25.72 |
| Total Shareholders Equity (after Deducting Minority Equity) | 505 | 506.8 | -0.35 |
| Profit (Loss) per Share | 0.87 | 1.34 |
All figures are in (Millions) Saudi Arabia, Riyals
| Percentage of the capital (%) | Amount | Element List |
| - | - | 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 increase in revenues of SAR 100 million, or 13%, this year compared to the previous year is due to the following:
• 11% increase in revenues of operation and supply divisions due to the commencement of several new projects in the sub-divisions of non-medical operations, catering sectors and biomedical maintenance, that had been announced in previous periods
• 24% increase in the contracting sector due to higher completion rates of projects
• 24% increase in sales of the medical devices and equipment division.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is
Net profit decreased by 35% between the two years due to a reversal of the previous year's provision for expected credit losses of SAR 21.5 million, compared to the current year's reversal of SAR 4.6 million. This reversal was based on the risk ratios associated with historical debt collection events and future expectations.
Gross profit also decreased this year compared to the previous year by 2%, due to higher operating costs such as salaries and wages of medical staff and higher project costs for labor and subcontractors.
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)
N/A
Reclassification of Comparison Items
Comparative figures from consolidated financial statements for 31 December 2023
reclassified to conform with the current year presentation.
Additional Information
1. Earnings per share were adjusted for the similar period of the previous year after increasing the company’s capital, which was approved by the company’s extraordinary general assembly, which was held on September 3, 2023, where the extraordinary general assembly approved an increase in the company’s capital by 100 million Saudi riyals, with a corresponding increase in the number of issued ordinary shares. The company issued 10 million shares without nominal value.
This increase was achieved through capitalization of the company's retained earnings. Each shareholder was granted one bonus share for every two shares held. The company's capital after the increase amounts to 300 million Saudi riyals, divided into 30 million fully paid ordinary shares with equal voting rights.
2. On 25 August 2024, “Girgas Drug Store Trading Co.” (a subsidiary) signed a sale and assignment contract with “Nada Al Hayat Medical Holding Company” to sell all of the shares owned by Girgas in “Naqaa United Pharmaceutical Company”. The sale and transfer of ownership and control took place before 30 September 2024.
In compliance with International Financial Reporting Standard IFRS 5, all account related to the sold company “Naqaa” were excluded from all consolidated financial statements for the periods up to the date of disposal compared to similar periods of the previous year.
Earnings per share from discontinued operations were excluded from earnings per share from continuing operations in both years as shown in the consolidated income statement.
