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KPMG Professional Services Company
Roshn Front, Airport Road
P.O. Box 92876
Riyadh 11663
Kingdom of Saudi Arabia
Commercial Registration No 1010425494
Headquarters in Riyadh
Independent a
To the Shareholders of Almarai Company (A Saudi Joint Stock Company)
Introduction
We have reviewed the accompanying 30 June 2025 condensed consolidated interim financial statements of Almarai Company
Management is responsible for the preparation and presentation of these condensed consolidated
the Kingdom of Saudi Arabia. Our responsibility is to e xpress a conclusion on these condensed consolidated interim financial statements based on our review.
Scope of Review
We conducted our review in accordance with the International Standard on Review Engagements 2410,
endorsed in the Kingdom of Saudi Arabia. A review of condensed consolidated interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing that are endorsed in the Kingdom of Saudi Arabia, and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
KPMG Professional Services Company, a professional closed joint stock company registered in the Kingdom of Saudi Arabia with a paid-up capital of SAR110,000,000 and a non-partner member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.
.
Independent auditor report on review of condensed consolidated interim financial statements
To the Shareholders of Almarai Company (A Saudi Joint Stock Company) (continued)
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying 30 June 2025 condensed consolidated interim financial statements of Almarai Company ("the Company") and its subsidiaries are not prepared, in all m aterial respects, in accordance with IAS 34, 'Interim Financial Reporting' that is endorsed in the Kingdom of Saudi Arabia .
KPMG Professional Services Company Fahad Mubark Aldossari
License No: 469
Riyadh on 6 July 2025
Corresponding to: 11 Muharram 1447 H
2
ALMARAI COMPANY
A SAUDIJOIMT STOCK >Pfif1Y
CONDENSED CONSOMOATED STATEMENT OF $| CIAL POSITS
Afi6T PRUNE@¿5 | ||||||
ZOJune | 31 December | |||||
2025 | 2024 | |||||
Plates | tUneudited) | (Audited} | ||||
A. | '000 | A | '000 | |||
ASSETS | ||||||
Property, Plant tnd Equipment | 24,119,475 | 22.750.34Z | ||||
Long-term Prepayment9 | 510.672 | 525.39t | ||||
Right-of-UseAssets | 489,573 | 504,066 | ||||
Intangible Assets andGoodwill gift Aesats | 1,1Z4,022 1,815,226 | 1,130,692 {,338.353 | ||||
lnvealments m Associate | 3.Z56 | |||||
Derivative Financial Instruments | 79.707 | 27.832 | ||||
DeJerrpd Tax Assets | 8.0St | 3,858 | ||||
28.116.726 | 26,783,790 | |||||
Current Assets | ||||||
Inventories | 1684,4Z0 | |||||
Trade Receivable Prepayrnents and Other Receivable | J64.S62 3,367.729 | 2421,SZ6 | ||||
Derivative Financial InatrUments | 4.076 | 13,459 | ||||
Cash and Cash Equivalanta | 458.725 | S2B,214 | ||||
TOTAL ASSETS
EQUFFY ANDLIABILITIES9,638,471
37.7S5J97 35.567.960
Share Capital S1atutory Reserve | 6 | 1O,0fI0,ooo 7,966,165 | 10,Q00,QQQ 2,966,165 | |
Treasury Shares | (528,578) | (5s8.024› | ||
Dther Reserves | II.t31,158) | (1.311,377) | ||
Retained Earnings | 8.0S6d48 | 7.673.972 | ||
Equity AjtrBxztabls to Equity Holders of the Gompany | 19,363,277 | 18,790,73G | ||
Non-ConboIIing Interest | 97 | mgs | ||
TOTAL EOUFTY | 19J64.248 | 5&791.132 | ||
Non-Currem LiabiFrties Loans and Borrowings | 7 | 9,S43,7J 7 | 8,900,245 | |
Laase Liabilities | 381,151 | 397,701 | ||
Employee Retirement Benafits | 1 ,506 | 1,89b,542 | ||
Oerivatire Financial InelfumentS | 19.Z99 | 181.812 | ||
referred Tax Liebilities | 61.591 | 61.890 | ||
11.491,26d | 3It93&190 | |||
Currant LlabBlties | ||||
Bank Overdrafts | 51.825 | 52,598 | ||
7 | 1,628,262 | 1,229,996 | ||
LaaseLlabllhlaa | 83,127 | 87,249 | ||
Zakat | 270187 | 34k703 | ||
Income Tax Payable | 58.010 | 36.226 | ||
Trade and Othor Payables | 4,771,564 | 4,048,92f | ||
Dar/vafive Financial Instruments | 36,710 | 37,945 | ||
6699W5 | 5.83&638 | |||
TOTAL LIABILITIES | 1&390.949 | 16,776,826 | ||
TOTAL EOUITVANDLIABILITIES | 37.?5S.197 | 35,567,960 |
The acc "ng notes form an integral part of these Condensed Consolidated Interim Financial Statemerns, which have bean sed fof issue by the Board olDifectors on bahalfof reholde igned on ia behalf by.
Dan ras
Chief Fin alO r
AlxJullah Albade Chiet Executive Olfloar
HH Prince NailBin SuIBn Bin
Mohammed BinSaud AI Kabeer Chairman
ALMARAI COfdPANY
A SAMDI JOlhfT STOCK GOKIPAMY
CO¥IDENSED CONSOLIDATED STATEMENT OF PRO{} LOSS FORTHETHREE- dONTH AND S{y-§jQ{g PERIOD |gED 30 JUNE 2025
Aprg - June | April - Jurse | January - June | January - Juna | |||
2025 | 2024 | 2025 | 2024 | |||
Notes | (Unarditcd) | {tAiaudited} | (UnauditedJ | (Unauditad} | ||
A '000 | A '000 | A '000 | '000 | |||
Revenue | 5CB&402 | L154.G2J | 11,Q55,492 | 10,613,262 | ||
(3,57S,Z23) | 15452.286) | 17.573.6581 | (7.2OZ,466I | |||
Qracs Ptofit | t,713,J79 | J,702,33S | If.834 | J.410,756 | ||
Selling and Distribution Expenses | (766.224) | (726,777) | (1,520.319) | (1.42L531) | ||
General and AdminiatralionEXpenseS | (150,Q36) | f124,305) | I259,329) | (24B,912) | ||
Other Income /lExpenae9), nat | 1j.991 | (39,824) | 619 | (40,342) | ||
bnpairmem Losson Flnanclal Assels | (f5,66TI | 16,475T | (15,'426) | t40,191l | ||
Operating Profit | 813,243 | 792,954 | 1.687.379 | I.661.820 | ||
Finance Cost, net | (t24,96Z) | (142,658} | I224,653T | (284.233t | ||
share qf Results of Associate | 5 | (323j | (113) | (1,222) | (1,060) | |
Profk before Zaket and Income Tax | 667.956 | 65&1g4 | 1.461,504 | 1,376,527 | ||
Incd4neTax | (27.981) fJ78s7l | f22.949) l6,13sj | {55.445) ‹zy,4y2) | (d7.818) ‹14.118› | ||
647,110 | 621.110 | 1,378,637 | 1,314,491 | |||
Prolit %r tha period attributable A | ||||||
646.866 | 619.693 | 1.378.Q60 | 1.31 J.920 | |||
Npn-Contn›lIing Interests | 1.417 | 577 | 2,571 | |||
H7.110 621,110 1,178,637
Earnings per snare ( , basad on Pfelit for tha parlod attr0sutable to Sharaholdem of the Company
0.63
1.39
1.33
8 0.65
062
1.38
1.31
The accompanying notes form an integral part of Jf›ese Condensed Consoldated Interim Financial Slatemems, which have been authorised for issue by the Board of Dlrectars on behaltoftha Sharaholdera, and signed onits beha1fby.
Chief Fin alOflicer
Abdullah Albadar Chief Executive Officer
4
HH Prince Naif Bin Sultan Bin Mohammed Bin SaudAl Kabaer
Chairman
A SAUDI JOINT STOCK CO| |•ANY
CONT D CONSOLIDATED $ {E{gEMTO/ OOMPREHENStVE IMCOME FORT EH THRU{-§@NTH.t@IXX IdOI'€TH PER.IODS END/$t 3QJU ${g5
Aprg - June | Apñl -Juna | January - June | January- J•no |
2025 | 2024 | 2025 | 2024 |
IUnauditedl tUnau‹8te‹g (Umuditadl (Unau‹gte‹fl
•I§ '000 A '000 A '000 '000
647,110 621,110 1.378.637 1,314,C9J
Ilsmathatare orrrxty be reclassd daubsequautly to profit or loss
Foreign Currency Tfsnslalion Diflemntes
Sentimental Cash Now H0dgN tfBfX$fpfTpd to Prolitor LoM Movement b FairV8Neon Cesh Flow Hedgas OItierC0+npraheraiveIncoma/{Loas) forttlapsrlad
Tal Conlprehenei¥eIncome for tha p9ri0d
10,679 I22,M2I 182,925 [206,431)
4.977 12,770 8,172 | 2,637 (4,488 (20,391 | 3,478 IS.1B1 f84,634 | 1155.42BI I7,265) (4fi,738j |
59846B 1,561.562 I.J0ktt6O
Tatal Comprehensive lncoma fbr heparins ett«buiabla la. | ||||
Skareholdars of the Coff$tany | 657,548 | 597,45f | 1.560,987 | 1,1gSvd% |
FIon•Contr0||ingIntaresls | 241 | 1407 | 575 | _ S7O |
657.789 598,868 J.561.562 1.JOB.060
The accompanying notes form an Integral part of fheae Condensed Consolidated Interim Financial Stater«eW which have bean authorised bi issue by the Board of Directors on behaloJ the Shareholders, and signed onitsbahalfby-
Dam
Chief Fin cla1Officer
Abdullah A8›ader Chief Executive Officer
HH PzinneNaifBin Sultan Bid kloharnmed Bin Saud AlKabaar
QM
AQ
CONDENSED COIqSog|D@ | D GTATEIytE CHANGES INEQUITY F R TH si O PE I
Statutory Transury
Rdsorve Shares
RetainedEarrsngs
Equity Attributable to
Non-CDntroIgng Total Iniarasts Equlfy
Equity FJolders
A 0O0------------•-•••••-.-----------------------------
Balance es at 1January 2024IAu&tell | J0,OD,OD | 2.966,165 | (614,Y66) | (956,911) | 0,403,231 | 17,797,719 | 11.10G | 17 | 825 | |
1,311,920 | 1,311,920 | 2,571 | 1,314,191 | |||||||
Other Comprahensiva Loss lor the period | (206,430} | f206.430) | (1) | (206.43t) | ||||||
Total Comprehensive(Lossl/ Income Senlenum of Cesh Flow Hadges Vansferred to Inventory / Property, Rem ar¥l Equipment. | ‹206.430) f• 28s› | 1,311,920 | 1,105,450 t4,285} | 2,570 | 1.108.060 ‹4,265) | |||||
Dkefitoffi' Remuneration | (5,477) | 15,477} | (S.477j | |||||||
Transactions with Aners in their Gapecity es Owner6 | ||||||||||
dividend Declared SAR 1per share | (988,277} | (9Bg,277I | t988.277j | |||||||
Stem B8sed Payment Transactions | 19.029 | 19,029 | 19.029 | |||||||
19,68J | (fi76t) | 1698 | 21,620 | 21,620 | ||||||
P28› | f728) | |||||||||
Bdanoeas at 30June 2024 (Unauditedl | 10,000.0tXl | A966.165 | (591063I | (1.JS0,358I | 6.725,095 | 17.945,B19 | IZ.948 | 17,95B.767 | ||
Batar›oeeset Jarnzary 2025 (AudBed) | tD00'0,£XXI | 2.9é6,165 | I538,034J | (1.31J.3771 | 7.673,972 | 18,790,736 | 396 | 18,791,132 | ||
Profi(for the penod | 1,378.060 | 1,378,060 | 577 | 1,378,637 | ||||||
Dther Conqsrehensive Income/{Loss) forthe period | 182,927 | t8Z,927 | 12) | 1B2,925 | ||||||
TotalComprebensive mams | 182,9Z7 | 1,378,06D | 575 | t,561.562 | ||||||
Settlement of CashFlowHedgestranslarred to lrtvenury/ | {21,205i | (21205j | I23,2M) | |||||||
Directors' Rernur›uafan | (739d) | 17.390} | ||||||||
T‹anfiefitfi›ns afidOana fa in theP Capacity as £Mners | ||||||||||
DividarxJ DectafedSAR 1per share (Refer Note 12) | (9g9,366) | (989,366) | (989.3661 | |||||||
Shere BBsed PaymeivTransac one | 21,255 | 21,255 | 21,255 | |||||||
Settlement of Treasury Shares | 9.446 | {758) | 1,572 | 1Q260 |
| |||||
Bclarce as at 30 June 2025 funau‹sta‹o | (5ZB,578) | t1,131,f5B} | 6,056 | 19,363,Z77 | 97t " J9.364.246 | |||||
nylng notes form an integral part of these Condensed Consolidated Interim Financial Statements, which have been authorised for issue by the Board of Dlrecrors on behalf at the rs. and signed on Its bahalf by:
Dank‹ M8faS
Chief Ffn alofficar
Albadef
6
HH Prince Nail Bin Sultan Bin kloharrmed Bin Saud Al Kabeer
Chairman
Auuusuxauo«x
auvPi‹oiwstocxa•P/xY
COND SJEQ CO SQLIDATED STATEMEP{} Q/ CAS O¥¥S FORTHB SIX-MCflgTH PER}OD ENGG 30JUNE 2Q25
CASftFLOV¥ fiROM EFtAT10J&ACTiVEDES
1 'OOO X *000
Pront for the period ACfjustrnonto for non-caah item4‹ Oepreoiation and Amortiaaéon
‹Qain 7Loss Aridng foam Changes In FBir Value less Cost to 5e1I of Orop9 Provision1ar Employee Retirement Benafilo
Prgvision for Inventories and Tra€le Recoviebles Share Based Payment Expense
Finance Cost, net
Othor lncoma /(Expensesj. net Ghere of Results of Aaaoclate
zaa
Changes in working capital:
1,378.637
1,201.634
(23.5801
127.671
60.589
21.255
224.653
‹sag›
1,222
55,445
27,4J2
3,07d,331
1,314,491
J.133,871 11,019
100,634
4S,4d8
4Q,3$2
1.060
47.818
74.2T8
3.0Zd23
Inventnnes Trade RecaivabW, PrepaymerrB andOmar Receivables Trade anrt Other Peyablsg | 28,G31 I3.487J (1,08,713l 650,611 | 11,300 t665,140j 603,008 | ||
Cash {Used in) yGenerated Tom Working Capital | (340,958) | #12.787 | ||
Employee Retirement Benefits Pald | (37.667) | (32.547) | ||
Zahat and lr•zome Tax Paid | (142,651) | [19.663) | ||
Nat Cash f¥om Opsretiog Activfñea | Z.553.073 | 3,372,7iXI | ||
GA ELE1OW&EEtOM ff'JMESTINOADTtVIItES | ||||
Proceeds from Salaof Time Deposit | 1.876.250 | |||
Proceeds from DiepoSal of Invaalmant in Assoclate | 88529 | |||
Addidons in Lor›g-term Prepoymants | (1,175) | {27,500) | ||
Purchase of Warehouse Facilities | (186,969J | |||
Addfbons to Property, Plant and Equipment | [2,096,984) | n.sgB.ozs› | ||
Proceeds from the Disposal of Property. Rant and Equiprr•ont | 39,8S0 | 37.727 | ||
Additions to intangible Assets | (19,340) | |||
Additions to Biological Assets | (512.951) | 1494.583) | ||
Procsadsfrom tho Disposal of Biological Aeaats | 158.193 | I 55.060 | ||
Net Caah Uaed In Investing u4t•ih | (2.335.204J | |||
Proceeds from Loans and Borrowings | 12.523.157 | 6,923,759 | ||
Repeymgnt qf Loana and Borrowings | (11,428,674) | i&6s8.061) | ||
Finance Cost Peid | (326.216) | t280.0077 | ||
OMdand Pald | (985.446} | (9B6,B64) | ||
Oettiamem of Traas» shares | 10.260 | zJ,630 | ||
Transactionswlth Non-ConvoIIing lntorasts | (738) | |||
Principal Elamant of Leepe Paymema | (6Q,034) | |||
Interest Element of Leasa Payments | t2,t20) | |||
Directors' Remuneration | (7,390) | (5477) | ||
Net Cash Uaod in Finanaing Actlvit?sa | f4.M7,75t) | |||
Net Change In Caah and Cash Epuivalenta | (70.144J | 77,574 | ||
Caah andGash E i•alants as at 1 January | 5J8,214 | 666,336 | ||
Effact ol h4overnents in Exchange Rates on Caah ar•O Cash Ecpsivalen¥a | 655 | |||
cash arul Caah Equivalents as at 30Juna | 458.725 |
The acco arrylng notes fom en integral pan of these Condensed Consolidated Interim Financial Statements, which have teen authorls r issue by the Bo0rd olDire‹ ors on behalfoftha Shareholders, nM behalfby‹
Dan rm
Chtef Finapcial Dfficer
Abdullah Afbader HH Prince Nail Bln Suitsn Bin
Mohammed an 4audAlKabeor Chairman
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