Al-Razi Medical Co. announces its Annual Financial results for the period ending on 2023-12-31

Al-Razi Medical 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

|| Revenues: The company achieved an increase in revenues of 8,943,350 million Saudi riyals, at a rate of (17.1%) over the previous year, 2022. This is due to the increase in sales through pharmacy branches opened in late 2022 and 2023.

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

|| Net profit: Net profit amounted to 685,968 Saudi riyals during the year 2023, a decrease of 66%. This decrease is due to the company investing in promotional offers to support sales of non-pharmaceutical products on the website and branches, and to the increase in selling and distribution expenses for new branches that are in the process of growth to achieve the sales target. .

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| 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)

|| Attention: We would like to draw attention to Clarification No. (1), where the company announced in the Saudi Financial