AI Summary
| Element List | Current Period | Similar period for previous year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 175,413,122 | 99,497,195 | 76.299 | ||
| Net profit (Loss) | 78,135,833 | 31,046,736 | 151.671 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 607,945,087 | 529,808,357 | 14.748 | ||
| Profit (Loss) per Share | 0.41 | 0.18 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | 3,290,716 | 1.61 | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | The Company achieved outstanding financial performance during the first half of 2025 compared to the corresponding period of the previous year, as operational performance improved across most business segments, supported by the exceptional positive impact of real estate brokerage fees previously disclosed. This is evident in the 76% increase in revenues during the period. The increase in revenues is mainly attributable to the following:
1. Contracting segment (third-party development): Recorded a 28% increase compared to the corresponding period of the previous year, driven by the higher number of third-party development projects undertaken by the Company. 2. Leasing segment: Achieved 133% growth compared to the corresponding period of the previous year, mainly due to the increase in income-generating investment property revenues. 3. Commissions and real estate brokerage segment: Increased by 126% compared to the corresponding period of the previous year, primarily attributable to the exceptional positive impact of real estate brokerage fees previously announced. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The increase in net profit during the first half of 2025 compared to the corresponding period of the previous year is mainly attributable to the following:
1-Revenue growth of 76%, primarily driven by improved operational performance across most business segments, in addition to the exceptional positive impact of real estate brokerage fees previously disclosed, which supported the Company’s profitability. 2- Operating expenses (including selling and marketing expenses, as well as general and administrative expenses) increased by only 28% compared to the corresponding period of the previous year, which is lower than the revenue growth rate. Gains from the sale of investment properties amounting to SAR 18.15 million during the period. A 44% decrease in net financing costs compared to the corresponding period of the previous year. Unrealized gains from revaluation of financial investments at fair value through profit or loss, amounting to SAR 4.9 million This came despite: A 71% decrease in unrealized gains from revaluation of investment properties compared to the corresponding period of the previous year. An increase in Zakat expense to SAR 5.6 million during the first half of 2025, compared to SAR 1.75 million for the corresponding period of the previous year. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Reclassification of Comparison Items | N/A |
| Additional Information | We would like to draw the attention of our esteemed shareholders to the fact that the financial statements for the period ended June 30, 2025, will be available on the Investor Relations section of The First Avenue Real Estate Development Company website through the following link: the1stavenue.com.sa
Following their submission to the relevant authorities, the Company would also like to draw the attention of financial analysts and investors to the possibility of sending their inquiries regarding the financial results to the Company’s Investor Relations email: IR@The1stAvenue.com
This can be done within 10 days from the date of publishing the financial statements |
| Attached Documents |  |
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