Saudi Cable Co. announces its Annual Financial results for the period ending on 2023-12-31

Saudi Cable Co. announces its Annual Financial results for the period ending on 2023-12-31

|Element List||Current Year||Previous Year||%Change|

|Sales/Revenue||30,678||68,368||-55.13|

|Gross Profit (Loss)||-68,163||-84,731||-19.55|

|Operational Profit (Loss)||-65,066||-207,034||-68.57|

|Net profit (Loss)||36,556||-584,965||-|

|Total Comprehensive Income||31,906||-584,771||-|

|Total Share Holders Equity (After Deducting the Minority Equity)||-464,578||-496,484||-6.43|

|Profit (Loss) per Share||9.92||-25.04|

|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||-506,765||-759|

|All figures are in (Thousands) 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 drop in Sales is due to freeze of company’s bank accounts resulting from liquidity crunch which contributed in seizing production activities for around 8 months and entry into Financial Restructuring Procedure.|

|The reason of the increase (decrease) in the net profit during the current year compared to the last year is||The company has recorded net profit from continuing operations amounting to SAR 66,184 million resulting from its share of profit from an associate, gain resulting from special settlement with ZATCA, and fair value gain resulting from reclassification of right of use of some assets to assets held for sale. Also, the company incurred losses mainly from discontinued activities amounting to SAR (29,628) million resulting from its Turkish subsidiary. Both resulted to a net profit to SAR 36,556 million.|

|Statement of