For the year ended 31 December
(Saudi Riyal)
| For the year ended (Saudi Riyal) |
Note |
31 December 2022 |
31 December 2021 (Adjusted – note 32) |
| Revenue, net | 20 | 1,602,476,839 | 1,159,567,962 |
| Cost of revenue | 21 | (1,243,297,002) | (914,043,363) |
| Gross profit | 359,179,837 | 245,524,599 | |
| Reversal/ impairment (loss) of trade receivables | 8 | 3,755,826 | (2,501,412) |
| Marketing & advertising expenses | 22 | (131,377,566) | (86,568,244) |
| General and administrative expenses | 23 | (136,449,562) | (26,176,559) |
| Research and development expenses | (33,784,069) | (10,985,616) | |
| Other income | 2,695,556 | 483,740 | |
| Operating profit | 64,020,022 | 119,776,508 | |
| Unrealized gains on investments at FVTPL | 7 | 1,766,705 | 8,212,032 |
| Finance costs | (3,155,960) | (547,273) | |
| Finance income | 22,196,965 | — | |
| Public offering expenses | — | (6,243,469) | |
| Net profit for the year before zakat | 84,827,732 | 121,197,798 | |
| Zakat | 19 | (28,304,442) | (4,487,725) |
| Net profit for the year | 56,523,290 | 116,710,073 | |
| Net profit for the year attributable to: | |||
| Shareholders of the Parent Company | 58,977,006 | 117,068,284 | |
| Non-Controlling interests | (2,453,716) | (358,211) | |
| 56,523,290 | 116,710,073 | ||
| Other comprehensive income | |||
| Items that will not be reclassified subsequently to profit or loss | |||
| Actuarial (losses)/gains from re-measurement of employees’ end of service benefits | 15 | (189,362) | 149,719 |
| Total other comprehensive income | (189,362) | 149,719 | |
| Total comprehensive income | 56,333,928 | 116,859,792 | |
| Total other comprehensive income attributable to | |||
| Shareholders of the parent company | 58,787,644 | 117,218,003 | |
| Non-Controlling interests | (2,453,716) | (358,211) | |
| 56,333,928 | 116,859,792 | ||
| Earnings per share attributable to shareholders of the Company: | |||
| Basic and diluted earnings per share | 26 | 5.7 | 19.6 |
The accompanying notes from 1 to 33 form an integral part of these Consolidated Financial Statements.
HRH Mishal Bin Sultan Bin Abdulaziz Al Saud
Chairman
Ghassab Bin Salman Bin Mandeel
CEO
Heni A. Jallouli
CFO