Page 8 - Q4-2024-EN

AL-MAZAYA HOLDING COMPANY - K.S.C. (PUBLIC)
AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
FOR THE YEAR ENDED DECEMBER 31, 2023
(All amounts are in Kuwaiti Dinars)

2022
Note 2023 (Restated)
Continuing operations:
Revenue:
Revenue from sale of properties held for trading 19 1,018,679 1,801,809
Rental Income 19 12,608,578 11,594,837
Medical services income 19 2,047,588 1,992,369
Net management fees and commission income 248,530 299,704
Total revenue 15,923,375 15,688,719

Cost of revenue:
Cost of sale of properties held for trading 5 (916,828) (1,986,638)
Cost of rental (2,056,482) (1,950,966)
Cost of medical services (1,947,077) (1,814,206)
Total cost (4,920,387) (5,751,810)

Gross profit 11,002,988 9,936,909

Impairment loss on properties held for trading 5 (568,229) (450,457)
Partial gain from termination of sale of a subsidiary 6 400,000 -
(Loss) gain on disposal of a subsidiary (3,606) 464,435
Gain (loss) on sale of investment properties 4,148,986 (261,209)
Depreciation (213,003) (175,757)
Change in fair value of investment properties 9 , 6 (3,200,953) (10,064,486)
Share of results from an associate 4,069 28,331
Selling and marketing expenses (322,640) (153,339)
General and administrative expenses (3,717,942) (3,304,661)
Operating profit (loss) 7,529,670 (3,980,234)

Impairment loss on goodwill 10 (2,254,210) -
Net loss on financial assets 20 (26,870) (77,528)
Net other expenses 21 (1,212,380) (1,704,140)
Amortization of finance costs related to lease liabilities 12 (1,483,647) (994,974)
Finance costs (6,044,671) (4,677,042)
Loss for the year from continuing operations (3,492,108) (11,433,918)
Discontinued operations:
Loss for the year from discontinued operations 6 (22,585,383) (1,922,568)
Loss for the year (26,077,491) (13,356,486)

Attributable to:
Shareholders of the Parent Company (26,506,724) (12,987,151)
Non-controlling interests 429,233 (369,335)
(26,077,491) (13,356,486)
Loss per share attributable to shareholders of the parent company
Continuing operations
Basic and diluted loss per share - attributable to shareholders of the parent company
– (Fils) 23 (6.58) (17.58)
Discontinued operations
Basic and diluted loss per share - attributable to shareholders of the parent company
– (Fils) 23 (37.88) (3.05)
Total Basic and diluted loss per share attributable to shareholders of the Parent
Company – (Fils) 23 (44.46) (20.63)

The accompanying notes (1) to (32) form an integral part of the consolidated financial statements.

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