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

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

| Element List

|| Explanation

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| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year

|| The reason for the increase in revenues in the year 2023 compared to the year 2022 is due to an increase in revenues from the truck spare parts sector by 45% and an increase in revenues from the heavy equipment spare parts sector by 17% compared to the previous year

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| The reason of the increase (decrease) in the net profit during the current year compared to the last year is

|| The reason for the decrease in net profit is mainly due to an increase in administrative and selling expenses by 3.4 million riyals compared to the year 2022, mainly due to the increase in the number of sales employees

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In addition, there are losses in currency exchange rates related to payments to external suppliers amounting to 613 thousand riyals

| Statement of the type of external auditor's report

|| Unmodified opinion

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| 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)

|| N/A

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| Reclassification of Comparison Items

|| Some comparative figures have been reclassified to fit the current