AYYAN loses SAR 164.4M in 2024, SAR 25.8M in Q4

AYYAN Investment Co. narrowed its losses to SAR 164.4 million in 2024, from SAR 216.3 million a year earlier.

This came as losses from discontinued operations contracted, driven by lower losses at Al-Salam Medical Services Co., as Al-Salam Hospital’s revenue surged to SAR 196.5 million in 2024, from SAR 50.8 million in 2023. This was supported by higher patient volumes and improved operational efficiency.

This, along with lower cost of revenue, a decline in selling and marketing expenses, and a higher share of profits from an associate company, offset the impact of lower sales volumes in 2024.

Notably, all revenue and expenses of Al-Ahsa Medical Services Co. and Al-Salam Medical Services (both subsidiaries) have been classified under discontinued operations, with net results reported accordingly.

Comparative figures have also been restated to align with IFRS 5.

Q4 2024 net loss reached SAR 25.77 million, down from SAR 71.88 million in Q4 2023.

On a sequential basis, AYYAN’s net losses shrank from SAR 34.68 million in Q3 2024.

Total shareholders’ equity, after minority interest, stood at SAR 606.87 million by Dec. 31, 2024, compared to SAR 500 million a year earlier.

View More Financial Results