Latest news with #Jahez
Argaam
18-05-2025
- Business
- Argaam
Jahez board plans 7.6M share buyback, statutory reserve transfer to retained earnings
Jahez International Company for Information System Technology's (Jahez) board of directors recommended, on May 15, the repurchase of a maximum of 7.63 million treasury shares, representing 3.64% of the company's total shares. In a statement to Tadawul, the company said the shares will be allocated in swap transactions for stake or asset acquisitions, the company's employee stock program, or for sale, in accordance with the regulations of the CMA, and other relevant laws. The repurchase process will be funded through the company's internal resources or bank facilities. The current percentage of the treasury shares stands at 3.28% of the target shares. The total number of treasury shares after the buyback process will represent 14.5 million shares maximum, or 6.91% of Jahez total shares. This recommendation will be presented to the company's extraordinary general meeting (EGM) to obtain its approval for the buyback transaction. The company will also be required to fulfill the financial solvency requirements. In a separate statement, the company noted that the board also recommended the transfer of the company's statutory reserve balance of SAR 18.42 million as of the Dec. 31, 2024, balance sheet and the interim financials for Q1 2025 to the retained earnings account.
Mid East Info
11-05-2025
- Business
- Mid East Info
JAHEZ DELIVERS STRONG Q1 2025 RESULTS WITH 185% NET INCOME AND 128% ADJUSTED EBITDA GROWTH - Middle East Business News and Information
Jahez International Company for Information System Technology ('Jahez', or the 'Group', 6017 on the Saudi Exchange's TASI – Main Market), announces its financial results for the first quarter of 2025. The Group recorded strong year-on-year (YoY) growth across all geographies and verticals throughout Jahez's ecosystem. Ghassab Bin Salman Bin Mandeel, CEO of Jahez Group, said: 'We've had a strong start to 2025, staying focused on the fundamentals, profitable growth, operational efficiency and building a strong ecosystem for merchants and users. Our core market in Saudi continues to perform well and we're seeing encouraging progress in Kuwait and Bahrain where we've significantly improved our financial position while maintaining market share. What's especially promising is the traction we're seeing in our newer verticals which are starting to scale meaningfully. These are important parts of our core strategy to leverage our unique and diversified ecosystem as we create a broader tech-enabled commerce platform. As we look ahead, we'll keep investing where it matters which are products, people and platform, while staying disciplined on execution. The focus remains on delivering value across the ecosystem and growing in a sustainable way.' Key Highlights Q1 2025: GMV increased by 10.9% year-over-year to 1.6 billion (15% LFL[1]), with GMV in non-KSA geographies up 15% (17% LFL) and KSA platforms up 10% YoY (13% LFL) Net Revenue up 9.4% YoY to 526.0 million (Q1 2024: 480.9 million), driven by higher total orders, average order value, and significant growth in advertising revenues and Other Revenues2. Adj. EBITDA up 128.1% to 51.1 million and representing 9.7% of Net Revenue (Q1 2024: 22.4 million, 4.7% of Net Revenue). of Net Revenue (Q1 2024: 22.4 million, 4.7% of Net Revenue). Net Income Attributable to the Shareholders of the Parent Company grew 184.7% YoY to 35.3 million (Q1 2024: 12.4 million) KSA platforms reached its highest monthly order volume since inception and sustained a strong Adj. EBITDA margin of 11.9% through cost control measures. Non-KSA platforms significantly improved financial performance with EBITDA losses reduced to 1.9 million in Q1 2025 from 26.5 million last year while maintaining market share. Logi expanded driver base to 4,260 compared to 1,684 in Q1 2024, while ensuring regulatory compliance in KSA. Advertising Revenues up 93% YoY, with growth accelerating powered by new ad-product rollouts and strong uptake in merchant adoption and demand. Other Revenues[2] saw strong growth with revenue increasing 55.5% YoY. Gross revenue reached 575.5 million, marking a 12% increase YoY, underpinned by higher commissions, advertising revenue, and solid contributions from diversified verticals Financial Highlights: Jahez Group delivered a strong performance in Q1 2025, with strong revenue growth, increased order volumes, and improved operational efficiencies. The Group reported Q1 2025 Net Revenue of 526.0 million, a 9.4% increase YoY, mainly driven by: 7.3% YoY (12% LFL) rise in total orders, accompanied by a 10.5% increase in the Active Users YoY. Improved take rate from 14.4% in Q1 2024 to 14.9% in Q1 2025, reflecting successful negotiations with key partners and enhancing value per transaction. Increased average order value to 63.1 compared to 61.0 in Q1 2024, driven by seasonality offerings and customer purchasing behaviors during Ramadan. Substantial growth in Advertising Revenues, up 93.2% year-over-year to 30.7 million, driven by new initiatives such as the launch of the Explore and Fawasel functions on the app for improved visibility and user experience, and enhanced geo-targeting algorithms to increase advertising availability. The introduction of the new Reels functionality (Fawasel) to the Jahez app is expected to further boost advertising revenue in the near to mid-term. Additionally, Other Revenues generated by the Group's new verticals (Sol, Co, and Marn) along with Blu Store Direct Sales, experienced significant YoY expansion of 55.5%. Gross profit margin (% of Net Revenue) improved by 4.1 percentage points, reaching 24.0% in Q1 2025 (19.9% in Q1 2024), mainly due to cost efficiencies coupled with revenue growth. This improvement in cost structure has supported Jahez's growth initiatives across key cities in KSA and in Non- KSA platforms. Net Profit attributed to the Shareholders of the Parent Company reached 35.3 million at the end of Q1 2025 ( 12.4 million in Q1 2024) with a significant increase of 184.7% YoY.
Zawya
11-05-2025
- Business
- Zawya
Jahez delivers strong Q1 2025 results with 185% net income and 128% adjusted EBITDA growth
Riyadh, Saudi Arabia - Jahez International Company for Information System Technology ('Jahez', or the 'Group', 6017 on the Saudi Exchange's TASI – Main Market), announces its financial results for the first quarter of 2025. The Group recorded strong year-on-year (YoY) growth across all geographies and verticals throughout Jahez's ecosystem. Ghassab Bin Salman Bin Mandeel, CEO of Jahez Group, said: 'We've had a strong start to 2025, staying focused on the fundamentals, profitable growth, operational efficiency and building a strong ecosystem for merchants and users. Our core market in Saudi continues to perform well and we're seeing encouraging progress in Kuwait and Bahrain where we've significantly improved our financial position while maintaining market share. What's especially promising is the traction we're seeing in our newer verticals which are starting to scale meaningfully. These are important parts of our core strategy to leverage our unique and diversified ecosystem as we create a broader tech-enabled commerce platform. As we look ahead, we'll keep investing where it matters which are products, people and platform, while staying disciplined on execution. The focus remains on delivering value across the ecosystem and growing in a sustainable way.' Key Highlights Q1 2025 GMV increased by 10.9% year-over-year to 1.6 billion (15% LFL, with GMV in non-KSA geographies up 15% (17% LFL) and KSA platforms up 10% YoY (13% LFL) Net Revenue up 9.4% YoY to 526.0 million (Q1 2024: 480.9 million), driven by higher total orders, average order value, and significant growth in advertising revenues and Other Revenues2. Adj. EBITDA up 128.1% to 51.1 million and representing 9.7% of Net Revenue (Q1 2024: 22.4 million, 4.7% of Net Revenue). Net Income Attributable to the Shareholders of the Parent Company grew 184.7% YoY to 35.3 million (Q1 2024: 12.4 million) KSA platforms reached its highest monthly order volume since inception and sustained a strong Adj. EBITDA margin of 11.9% through cost control measures. Non-KSA platforms significantly improved financial performance with EBITDA losses reduced to 1.9 million in Q1 2025 from 26.5 million last year while maintaining market share. Logi expanded driver base to 4,260 compared to 1,684 in Q1 2024, while ensuring regulatory compliance in KSA. Advertising Revenues up 93% YoY, with growth accelerating powered by new ad-product rollouts and strong uptake in merchant adoption and demand. Other Revenues saw strong growth with revenue increasing 55.5% YoY. Gross revenue reached 575.5 million, marking a 12% increase YoY, underpinned by higher commissions, advertising revenue, and solid contributions from diversified verticals Financial Highlights Jahez Group delivered a strong performance in Q1 2025, with strong revenue growth, increased order volumes, and improved operational efficiencies. The Group reported Q1 2025 Net Revenue of 526.0 million, a 9.4% increase YoY, mainly driven by: 7.3% YoY (12% LFL) rise in total orders, accompanied by a 10.5% increase in the Active Users YoY. Improved take rate from 14.4% in Q1 2024 to 14.9% in Q1 2025, reflecting successful negotiations with key partners and enhancing value per transaction. Increased average order value to 63.1 compared to 61.0 in Q1 2024, driven by seasonality offerings and customer purchasing behaviors during Ramadan. Substantial growth in Advertising Revenues, up 93.2% year-over-year to 30.7 million, driven by new initiatives such as the launch of the Explore and Fawasel functions on the app for improved visibility and user experience, and enhanced geo-targeting algorithms to increase advertising availability. The introduction of the new Reels functionality (Fawasel) to the Jahez app is expected to further boost advertising revenue in the near to mid-term. Additionally, Other Revenues generated by the Group's new verticals (Sol, Co, and Marn) along with Blu Store Direct Sales, experienced significant YoY expansion of 55.5%. Gross profit margin (% of Net Revenue) improved by 4.1 percentage points, reaching 24.0% in Q1 2025 (19.9% in Q1 2024), mainly due to cost efficiencies coupled with revenue growth. This improvement in cost structure has supported Jahez's growth initiatives across key cities in KSA and in Non- KSA platforms. Net Profit attributed to the Shareholders of the Parent Company reached 35.3 million at the end of Q1 2025 (12.4 million in Q1 2024) with a significant increase of 184.7% YoY.
Arab News
05-04-2025
- Business
- Arab News
Jahez gives back to community with Ramadan initiatives
Jahez International Company, a platform that connects customers with restaurants through online orders, organized a series of community-driven and customer focused initiatives during March. These included strategic partnerships, exclusive collaborations, exciting competitions, and traditional celebrations, reflecting the company's broader strategy to engage with its customers and support the community. Recognizing Ramadan as a time that brings people together through shared values and traditions, Jahez implemented its March initiatives in a way that balanced its social impact in the community while engaging its customers. Each initiative launched during the period was selected to address different community needs while offering customers meaningful ways to celebrate the values behind the holy month. Bader Al-Ajeel, chief executive of Jahez, said: 'We at Jahez International are committed to creating long-term value through initiatives that strengthen our role as contributors to the Kuwaiti community. This Ramadan, we aligned our efforts through strategic partnerships and specific programs that support various causes and spread awareness, while also deepening our engagement with our valued customers. These initiatives are part of our broader roadmap for 2025 that integrates social responsibility into our operations.' During Ramadan, Jahez launched the 'Jahazeyat Menu,' a special sharing box priced at 2.95 Kuwaiti dinars ($10). It included stuffed grape leaves, chocolate fudge, mahalabia, and a festive Gargee'an gift box. Customers could easily find it on the Jahez app under its own listing. The company introduced a TV series called 'Qafsha Show' for its partners. The series aired on KTV and online platforms and featured a different Jahez partner daily. Through the show, guests highlighted their Jahez-affiliated restaurants and the stories behind them, offering viewers a closer look at the people and passion driving local businesses. Additionally, Jahez introduced its exclusive collaboration between doh! and Chef Sawsan Matbakhi, which introduced a new special menu item. Jahez also distributed more than 4,000 iftar meals. The initiative was launched in collaboration with Zajel Kuwait, a local nonprofit organization. Additionally, the company participated in the 'Longest Iftar Table' initiative, a renowned event held at Souq Sharq where people gather to break their fast. Moreover, Jahez initiated strategic partnerships with four local charities, namely Direct Aid Charity, Balad Alkhair Society, Al-Waqf Al-Ensani Society, and Alnajat Charity.
Khaleej Times
30-03-2025
- Health
- Khaleej Times
Saudi ministry shuts down food chain branches after food poisoning reports
On Sunday, the Saudi Ministry of Municipal and Rural Affairs and Housing issued a statement announcing the temporary closure of branches of a food establishment. The statement follows reports from several media outlets and social media accounts claiming that authorities shut down branches of a well-known Egyptian dessert chain in Saudi Arabia due to a large number of food poisoning cases linked to its products. The popular dessert chain, known for its Egyptian-inspired sweets, has rapidly gained recognition across the Gulf but now faces increased scrutiny following the incident. According to reports, authorities have confiscated food samples for laboratory analysis, and apps like Jahez and HungerStation suspended the chain's listings on delivery services. Referring to the reports, the Ministry of Municipal and Rural Affairs and Housing, without naming the brand, clarified that through the efforts of its municipal teams across various regions, it has promptly addressed the complaints through field inspection teams and has taken the necessary regulatory measures to ensure public health and safety. The ministry further noted that most suspected cases of food poisoning have recovered, while the remaining cases are receiving the necessary medical care and are in stable condition. The ministry confirmed that in coordination with the Saudi Food and Drug Authority, it had responded to the reported cases and handled them according to the approved procedures. As a precautionary measure, the manufacturing facilities and branches of the establishment have been temporarily closed until the completion of verification and analysis processes. The ministry reiterated that consumer health and safety are top priorities. It continued to coordinate with the relevant authorities to take all necessary measures to ensure the safety of food products. The ministry also urged the public to verify information before sharing and to rely on official sources for accurate updates. Saudi Arabia
