Naqi Water Co. announces its Annual Financial results for the period ending on 2024-12-31
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 219,340,133 | 238,822,627 | -8.16 | ||
| Gross Profit (Loss) | 76,646,768 | 85,159,071 | -9.99 | ||
| Operational Profit (Loss) | 25,686,853 | 42,990,796 | -40.25 | ||
| Net profit (Loss) | 30,184,860 | 42,950,121 | -29.72 | ||
| Total Comprehensive Income | 30,791,759 | 43,650,366 | -29.46 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 273,923,511 | 253,131,752 | 8.21 | ||
| Profit (Loss) per Share | 1.51 | 2.15 | |||
| All figures are in (Actual) 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 (Actual) 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 8% decrease in sales during the current year compared to the previous year is due to the company’s strategic focus on future expansion in the retail sector rather than maximizing total packaged drinking water sales.
Despite the decline in total revenues, the company successfully managed to reduce the cost of sales by 7%, which contributed to maintaining stable gross margins. As a result, revenue from the retail segment increased by 11% in 2024 compared to the previous year. This growth was supported by the company’s investment in opening new branches in the Eastern Province and Hail Region during the year. However, wholesale sales revenue decreased, which contributed to the overall decline in total revenues and also impacted the performance of the logistics segment |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The decline in the company’s net profit in 2024 was primarily driven by the overall decrease in revenues, in addition to the increase in selling and distribution expenses, and higher transportation costs. The rise in transportation expenses was largely due to the increase in fuel (diesel) prices, which began at the start of 2024. |
| 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) | not applicable |
| Reclassification of Comparison Items | Some comparative figures have been reclassified to conform with the presentation of the financial statements for the current year. |
| Additional Information | - |
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