Consolidated Statement of Financial Position

As at 31 December 2024

(Saudi Riyal)

Notes 31 December
2024
31 December
2023
Assets
Non-current assets
Property and equipment 4 210,753,570 53,839,230
Intangible assets and Goodwill 5 102,179,787 81,002,357
Right-of-use assets 6 68,999,361 96,914,858
Investments at FVTPL 7 68,296,898 84,096,616
Equity accounted investments 8 101,250,771 --
Total non-current assets 551,480,387 315,853,061
Current assets
Inventory 11,074,662 9,819,248
Trade receivables 9 75,099,846 36,425,399
Prepaid expenses and other receivables 10 78,339,914 72,074,580
Cash and cash equivalents 11 1,054,080,837 1,109,059,521
Deposits with financial institutions 12 -- 107,564,031
Total current assets 1,218,595,259 1,334,942,779
Total Assets 1,770,075,646 1,650,795,840
Equity and liabilities
Equity
Share capital 13 104,918,030 104,918,030
Statutory reserve 15 18,420,724 18,420,724
Share premium 740,175,504 740,175,504
Treasury shares 14 (93,072,345) (1,920,000)
Employees' shares reserve 16 28,603,985 31,381,389
Retained earnings 441,385,831 258,542,572
Equity attributable to equity holders of the Parent Company 1,240,431,729 1,151,518,219
Non-controlling interests 9,008,699 (6,039,275)
Total shareholders' equity 1,249,440,428 1,145,478,944
Liabilities
Non-current liabilities
Non-current portion of lease liabilities 6 39,577,915 63,001,917
Employees' benefits obligations 17 23,007,954 17,255,681
Total non-current liabilities 62,585,869 80,257,598
Current liabilities
Proceeds due to customers 18 197,397,900 161,549,641
Current portion of lease liabilities 6 32,271,396 32,971,145
Trade payables 19 54,295,193 83,573,373
Accrued expenses and other current liabilities 20 151,284,860 115,785,723
Short term loan -- 1,916,899
Zakat provision 22 22,800,000 29,262,517
Total current liabilities 458,049,349 425,059,298
Total Liabilities 520,635,218 505,316,896
Total Liabilities and Equity 1,770,075,646 1,650,795,840

Consolidated Statement of Profit or Loss and Other Comprehensive Income

For the year ended 31 December 2024

(Saudi Riyal)

Notes 31 December
2024
31 December
2023
Revenue 23 2,218,662,735 1,784,755,283
Cost of revenue 24 (1,677,500,170) (1,378,877,760)
Gross profit 541,162,565 405,877,523
Impairment loss of trade receivables 9 (13,804,799) (5,030,671)
Marketing & advertising expenses 25 (169,089,163) (149,968,457)
General and administrative expenses 26 (136,339,996) (106,194,606)
Other (expense)/ income, net (304,785) (921,969)
Operating profit 168,863,674 101,895,079
Unrealized (losses)/profits on investments at FVTPL 7 (6,108,755) 3,326,897
Share of losses from Equity accounted investments 8 (2,175,043) --
Finance costs (4,522,259) (5,456,944)
Finance income 48,537,021 46,068,207
Net profit for the year before zakat 204,594,638 204,594,638
Zakat 22 (20,376,493) (27,065,630)
Net profit for the year 184,218,145 184,218,145
Net profit for the year attributable to:
Shareholders of the Parent Company 187,979,245 125,336,967
Non-Controlling interests (3,761,100) (6,569,358)
184,218,145 118,767,609
Other comprehensive income
Items that will not be reclassified subsequently to profit or loss
Re-measurement of employees' benefits obligations 17 1,958,244 1,571,043
Total other comprehensive income 1,958,244 1,571,043
Total comprehensive income 186,176,389 120,338,652
Total comprehensive income attributable to
Shareholders of the parent company 189,937,489 126,908,010
Non-Controlling interests (3,761,100) (6,569,358)
186,176,389 120,338,652
Earnings per share attributable to shareholders of the Company:
Basic earnings per share 30 0.92 0.61
Diluted earnings per share 30 0.92 0.61

Consolidated Statement of Changes in Equity

For the year ended December 31

(Saudi Riyal)

Equity attributable to the Parent Company’s shareholders
Share capital Statutory reserve Share premium Treasury shares Employees' shares reserve Retained earnings Total Non-controlling interests Total
Balance as at 1 January 2023 104,918,030 18,420,724 740,175,504 (1,920,000) 11,896,912 131,634,562 1,005,125,732 (1,160,057) 1,003,965,675
Net profit for the year - - - - - 125,336,967 125,336,967 (6,569,358) 118,767,609
Other comprehensive income for the year - - - - - 1,571,043 1,571,043 - 1,571,043
Total comprehensive income for the year - - - - - 126,908,010 126,908,010 (6,569,358) 120,338,652
Share-based payments transactions (Note 16) - - - - 19,484,477 - 19,484,477 - 19,484,477
Change in non-controlling interests - - - - - - - 1,690,140 1,690,140
Balance as at 31 December 2023 104,918,030 18,420,724 740,175,504 (1,920,000) 31,381,389 258,542,572 1,151,518,219 (6,039,275) 1,145,478,944
Balance as at 1 January 2024 104,918,030 18,420,724 740,175,504 (1,920,000) 31,381,389 258,542,572 1,151,518,219 (6,039,275) 1,145,478,944
Net profit for the year - - - - - 187,979,245 187,979,245 (3,761,100) 184,218,145
Other comprehensive income for the year - - - - - 1,958,244 1,958,244 - 1,958,244
Total comprehensive income for the year - - - - - 189,937,489 189,937,489 (3,761,100) 186,176,389
Employees' shares reserve (Note 14) - - - (91,152,345) - - (91,152,345) - (91,152,345)
Share-based payments transactions (Note 16) - - - - (2,777,404) 6,618,319 3,840,915 - 3,840,915
Change in non-controlling interests - - - - - (13,712,549) (13,712,549) 18,809,074 5,096,525
Balance as at 31 December 2024 104,918,030 18,420,724 740,175,504 (93,072,345) 28,603,985 441,385,831 1,240,431,729 9,008,699 1,249,440,428

Consolidated Statement of Cash Flows

For the year ended December 31

(Saudi Riyal)

Note 31 December 2024
31 December 2023
Cashflows generated from operating activities:
Net profit for the year before zakat 204,594,638 145,833,239
Adjustments to reconcile net income for the year to cashflows generated from operating activities:
Expected credit loss of trade receivables 9 13,804,799 5,030,671
Depreciation and amortization 4,5,6 53,176,978 51,970,559
Employees' benefits 17 7,915,336 7,959,954
Finance costs 5,282,427 6,025,384
Unrealized losses / (gains) on investments at FVTPL 7 6,108,755 (3,326,897)
Share of losses from equity accounted investments 8 2,175,043
Share-based payment expenses 16 3,840,915 19,484,477
Short-term deposits (48,532,021) (46,068,207)
(Gain) / Losses from right-of-use of assets 6 (315,155) 529,143
Losses from disposal of fixed assets 4 4,507,708
Losses from disposal of intangible assets 5 74,227
Inventory (1,255,414) (8,536,741)
Trade receivables 9 (52,472,946) (9,299,606)
Prepaid expenses and other receivables 10 (6,265,334) 10,675,998
Proceeds due to customers 18 35,848,259 42,748,742
Trade payables 19 (26,223,407) 22,048,272
Accrued expenses and other current liabilities 20 32,864,527 44,364,173
Employees' benefits paid 17 (995,108) (1,500,632)
Interest paid (4,492,138) (5,459,295)
Zakat paid (26,839,010) (2,561,216)
Net cash flows generated from operating activities 202,791,779 256,867,520
Cashflows from investing activities
Payments to purchase of property and equipment 4 (175,399,885) (23,343,175)
Payments to purchase and develop intangible assets 5 (19,714,623) (13,497,082)
Sell / (Purchase) investments at FVTPL 7 9,690,963 (58,040,982)
Purchase of equity-accounted investments 8 (103,425,814)
Repayment of deposit with financial institutions 107,564,031 100,000,000
Proceeds from interest on short-term deposits 48,537,021 38,504,176
Net payment for acquisition of subsidiary 34 (4,833,713) (59,691,640)
Net cash flows used in investing activities (137,582,020) (16,068,703)
Cash flows from financing activities
Treasury shares 14 (91,152,345)
Payments of lease liabilities 6 (27,119,199) (32,518,198)
Payment of short-term loan (1,916,899) (1,906,840)
Net cash flows used in financing activities (120,188,443) (34,425,038)
Net change in cash and cash equivalents (54,978,648) 206,373,779
Cash and cash equivalents as at the beginning of the year 1,109,059,521 902,685,742
Cash and cash equivalents as at the end of the year 1,054,080,837 1,109,059,521
Non-cash transactions
Additions in Right-of-use assets against lease liabilities 28,158,501 18,267,517
Disposal in Right-of-use assets against lease liabilities 24,847,898 20,181,208