Jahez International Company for Information System Technology announces its Annual Consolidated financial results for the period ending on 31-12-2023

Jahez International Company for Information System Technology announces its Annual Consolidated financial results for the period ending on 31-12-2023

The Net Profit attributable to shareholders of the Group increased by 112.5% reaching SAR 125.3m for the year 2023 compared to SAR 58.9m in 2022, the reasons for the change in Net Profit according to the operating segments are as follows: Delivery Platforms – KSA Segment: • KSA Platforms net profit reached SAR 258.5m compared to last year SAR 194.1m, a 33.2% growth compared to the previous year linked to the improvement of the margin contribution per order due to efficiency and economy of scale. Delivery Platforms – Non KSA Segment: • The segment recorded SAR -97.2m net losses mainly driven by the expansion strategy and the costs market share gain in the newly penetrated markets (Bahrain in mid 2022 and Kuwait in 2023). Where the segment has reached SAR 242m GMV with a total number of orders amounting to 5.4m orders during 2023. Logistic Segment: • Overall net losses were reduced to SAR -5.9m which is a 95.2% decrease compared to SAR -123.9m last year, benefiting from cost efficiencies initiatives &