Naseej International Trading Co. announces its Interim Financial results for the Period Ending on 2025-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 17,695 | 43,251 | -59.087 | 19,380 | -8.694 |
| Gross Profit (Loss) | -7,411 | 3,213 | - | 4,947 | - |
| Operational Profit (Loss) | -13,852 | -5,408 | 156.139 | 18,815 | - |
| Net profit (Loss) | -16,340 | -9,778 | 67.109 | 16,317 | - |
| Total Comprehensive Income | -16,340 | -9,778 | 67.109 | 16,317 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 63,322 | 158,442 | -60.034 |
| Gross Profit (Loss) | -988 | 18,471 | - |
| Operational Profit (Loss) | -1,166 | -11,097 | -89.492 |
| Net profit (Loss) | -8,666 | -24,178 | -64.157 |
| Total Comprehensive Income | -8,666 | -24,178 | -64.157 |
| Total Shareholders Equity (after Deducting Minority Equity) | 39,262 | 65,971 | -40.485 |
| Profit (Loss) per Share | -0.8 | -2.22 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -69,711 | 63.97 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | The reason for the decrease in sales during the current quarter compared to the same quarter of the last year is mainly due to the decrease in production volum. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the increase in net losses during the current quarter compared to the same quarter of the last year is mainly due to a decrease in production volume, which led to a decrease in sales |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for the decrease in sales during the current quarter compared to the previous quarter is mainly due to the decrease in production volume. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for achieving net losses during the current quarter compared to the previous quarter is mainly due to a decrease in production volume, which led to a decrease in sales |
| 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 reason for the decrease in sales during the current period compared to the same period of the last year is mainly due to the decrease in production volume. |
| 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 reason for The decrease in net losses during the current period compared to the same peiod of the last year is mainly due to the decrease in operating expenses as well as gains from sold a building whose disposal will not affect operational activities. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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) | 1- Emphasis of matter
We draw attention to Note 4.1 to the financial statements, which describes the non-compliance with a covenant related to outstanding loans and borrowings with a bank as at September 30, 2025. Management is in discussions with the financial institution to obtain a waiver and expects such waiver to be granted for future periods in accordance with the agreement. Our opinion is not modified in respect of this matter.
2- Material uncertainty related to going concern As disclosed in note 2.5 to the consolidated financial statements, the accumulated losses of the Company as of September 30, 2025, is SR 69.71 million (December 31, 2024: SR 61.05 million), which exceeded 50% of its share capital. This condition indicate that a material uncertainty exists that may cast significant doubt about the Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter. |
| Reclassification of Comparison Items | N/A |
| Additional Information | Naseej Company announces that its accumulated losses have reached SAR 69.71 million as of September 30, 2025, representing 63.97 % of its capital.
1. Date losses were incurred: September 30, 2025 2. Date the Board of Directors was notified of the accumulated losses: October 30, 2025. 3. Accumulated losses amount : SAR 69.71 million. 4. Percentage of accumulated losses to capital: 63.97 %.
5. Main reasons for accruing these losses: a. Decrease in production volume. b. Decrease in sales
6. Actions the company will take in response to these losses: Taking several different strategic options, including the existing acquisition plan , in addtion to the Board recommending a capital increase to settle financial obligations and support the future growth strategy.
7. The last day the company's board of directors may disclose its recommendations regarding accumulated losses: December 29, 2025 8. The last day the company's board of directors may call an extraordinary general assembly to consider the company's continuity: April 28, 2026
The procedures and instructions for companies whose shares are listed in the Saudi Stock Exchange whose accumulated losses reached 20% or more of their capital will be applied. |
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