Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) Announces Its Interim Financial Results for the Period Ending on 31 March 2024 (Three Months)

Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) Announces Its Interim Financial Results for the Period Ending on 31 March 2024 (Three Months)

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

Revenues remained stable in Q1-24 at SAR 1,329.8 million. International retail revenues improved from SAR 243.5 million to SAR 269.0 million, growing 10.4%. Retail revenues in Saudi Arabia contracted by 2.0% to SAR 974.5 million due to vacation schedule seasonality during Ramadan, geopolitics, store closures and discounting of seasonal inventorym Franchise exits and store closures led to a 7.1% decline in F&B revenues to SAR 86.5 million.

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

Cenomi Retail reported a net loss of SAR 151.7 million in Q1-24 (3 months ended 31 March 2024), this compares to a loss of SAR 55.9 million in Q1-23 (3 months ended 31 March2023). This outcome was driven by: • An increase in the cost of revenue This expense increased 3.2% from SAR 1,174.8 million in Q1-23 to SAR 1,212.6 million in Q1-24 , even though there is a decrease in