Investor Relationship

In line with the Kingdom’s Vision 2030 AD, and our project to build a human being, we believe in the importance of preserving the Arab spirit and cultural values that distinguish us as a people, and at the same time we realize that development and progress are necessary to interact with the modern world and the future.

Alkhaleej Training and Education Co. announces its Annual Financial results for the period ending on 2023-12-31

Element List Current Year Previous Year %Change
Sales/Revenue 983,649,765 877,215,390 12.13
Gross Profit (Loss) 224,486,478 145,276,434 54.52
Operational Profit (Loss) 70,770,484 58,889,414 20.18
Net profit (Loss) -42,017,933 -15,311,505 174.42
Total Comprehensive Income -91,523,331 -54,504,767 67.92
Total Share Holders Equity (After Deducting the Minority Equity) 460,639,783 572,040,093 -19.47
Profit (Loss) per Share -0.65 -0.24
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		 – –
Accumulated Losses -186,724,542 0.29
All figures are in (Actual) Saudi Arabia, Riyals
Element List Explanation
The reason of the increase (decrease) in the sales/ revenues during the
current year compared to the last year		 The increase in sales in 2023 compared to 2022 is due to the enhanced
performance of both the training and schools sector, alongside the call center sector as a result of
the expansion of the sectors’ activities.
The reason of the increase (decrease) in the net profit during the
current year compared to the last year is		 The increase in the company’s losses compare with the previous year due
to the increase in provisions for expected credit losses, zakat and impairment of goodwill.
Statement of the type of external auditor’s report Unmodified opinion
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)		 The prior years’ adjustments: the consolidated statement of financial
position as at January 1, 2022 and December 31, 2022, the consolidated statement of profit or loss
and the consolidated statement of comprehensive income for the year ended December 31, 2022 were
restated to reflect these adjustments. Our opinion is not modified with respect to this
matter.
Reclassification of Comparison Items Some comparative figures have been reclassified where necessary for
better presentation.
Additional Information Earnings per share are calculated on the basis of the net results of the
year attributable to the shareholders of the parent company divided by the weighted average number
of shares.The company would also like to clarify to shareholders that the
company’s accumulated losses as of December 31, 2023 amounted to 186,724,542 riyals, representing
28.7% of the company’s capital, which amounted to 650,000,000 Saudi riyals. This was due to
recording some rental obligations in accordance with International Reporting Standard No. 16,
assessing goodwill, and also increasing the allowance for credit losses. And also the provision for
zakat.The procedures and instructions for companies whose shares are listed on
the Saudi Stock Exchange and whose accumulated losses have reached 20% or more of their capital will
be applied.

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accepts full responsibility for the accuracy of the information contained in it and confirms, having made all
reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the
omission of which would make the disclosure misleading, incomplete or inaccurate.