Saudi: Knowledge Economic City’s net loss deepens 135% YoY in 2023

Revenues jumped 17.95% YoY to SAR 66.86 million last year from SAR 56.68 million, according to the annual financial results

Staff Writer, Mubasher

March 19, 2024

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Knowledge Economic City’s net loss soared 134.96% year-on-year (YoY) to SAR 45.55 million in 2023 from SAR 19.38 million.

Revenues jumped 17.95% YoY to SAR 66.86 million last year from SAR 56.68 million, according to the annual financial results.

The loss per share registered SAR 0.13 in the 12-month period that ended on 31 December 2023, up from SAR 0.06 the year before.

Furthermore, the company’s accumulated losses have reached SAR 382.92 million, representing 11.29% of the company’s capital.

In the first nine months (9M) of 2023, the net losses of Knowledge Economic City widened by 122.41% to SAR 23.88 million, versus SAR 10.73 million.

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