Saudi: Ayyan Investment’s loss widens 384% YoY in 2023; accumulated loss records $68.8mln

Riyadh – Ayyan Investment Company’s net loss soared 384.11% year-on-year (YoY) to SAR 216.06 million in 2023 from SAR 44.63 million.

Revenues jumped 25.18% YoY to SAR 333.27 million last year from SAR 266.22 million, according to the annual financial results.

The loss per share reached SAR 2.68 in 2023, up from SAR 0.56 in 2022.

The accumulated loss registered SAR 258.02 million at the end of last year, representing 32% of the company’s capital.

The net losses of Ayyan surged to SAR 144.32 million in the first nine months (9M) of 2023, versus SAR 14.83 million in 9M-22.

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