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Digitalizing
Lifestyle
With the growing ubiquity of digital hyper connectivity that's come to define 21st century life, Jahez is at the cutting edge of an ongoing technological revolution.
To better facilitate this, the Group is now undergoing its own transformation that will see the Group rapidly evolve from a delivery business specializing in food to a more comprehensive lifestyle ecosystem that covers the full experience of modern living. This new journey is anticipated to generate more value to all stakeholders, and as the business grows, contribute further towards the realization of the Saudi Vision 2030.
Our Vision
To be the most loved lifestyle platform by providing the best stakeholder experience.
Our Mission
To exceed our stakeholder expectations by providing a seam-less user-centric experience enabled by continuous technology innovation.
Our Values
- Trust to ensure its partners always get their products and payments on time, every time.
- Innovation to nurture an entrepreneurial spirit in the organization with a resultsoriented mindset.
- Passion to commit to exceeding partner expectations by pursuing their happiness and achieving their ambitions.
- Respect to treat its employees, customers and partners with courtesy, consideration and dignity.
- Sustainability to create long-term partner value by taking into consideration social, economic and environmental aspects.
- Excellence to exceed what it achieved yesterday, and to deliver a world-class user experience across its various services.
Subsidiaries
Jahez remained the largest topline contributor during the reporting period, accounting for some 85% of the business in 2023. The eponymous ‘Jahez’ smartphone platform, still the Group’s best-known online platform, connects customers, restaurants and drivers in a sophisticated digital solution designed to deliver its services to 3.5 million customers in the fastest possible time, with unmatched convenience, reliability and efficiency.
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PIK is a quick or q-commerce platform that connects customers to merchants located within a 100-kilometer radius in cities and suburbs alike, offering a delivery promise of less than two hours.
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A joint-venture with Al Hilal Club, the Group owns 51% of Blu Store, a platform specializing in selling and marketing sports-related products and services representing different leading brands.
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Logi is a wholly-owned logistics subsidiary and a market enabler for the Kingdom’s bustling e-commerce and delivery industry.
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Co Limited Company which the Group owns a 60% stake in is centered around end-to-end commercial kitchens that serve food solely via digital delivery platforms, in addition to a newly launched cloud shelving vertical.
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The businesses that the Group acquires through Red Color, its investment arm, serve to complete Jahez supply chain and improve and expand its product offerings.
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The Group initiated the acquisition of Marn Business Information Technology Company in 2022 with a view to helping merchants by developing systems for business owners through various digital solutions that work in conjunction with different service providers and partnerships.
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Sol is the newest addition to the Group’s growing portfolio. Partially acquired in 2023, Sol is a comprehensive B2B food and beverage supplier that functions as a one-stop-shop for the hospitality sector, focusing on supply chain management for hotels, restaurants, and cafes (HORECA) with an emphasis on backend functions such as kitchen logistics, procurement, etc.
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Chairman's Statement
From a quiet inception in 2016 to a remarkable initial public offering (IPO) just five years later and, now, on the cusp of a historic transformation, Jahez has reached unprecedented heights in record time. I'm delighted to announce that the Group has already made considerable headway in its promised evolution to an ecosystem of on-demand services that enhances customer lifestyle and empowers businesses.
Chief Executive Officer's Statement
On the back of a momentous IPO in early 2022 that garnered wide acclaim and catalyzed a significant growth phase with a USD 2.4 billion listing, we focused our efforts during the year under review on setting the Group on a trajectory of transformative evolution, one that will see Jahez become the Kingdom's and the wider region's leading ecosystem of on-demand services enhancing customers lifestyle, going far beyond its current ambit of food delivery and quick commerce.
Chief Financial Officer's review
We managed to maintain more than satisfactory levels of profitability exceeding the targeted Adj. EBITDA margin range from net revenue at 10.2%, with a year-on-year net profit margin increase of nearly 110%, alongside steady topline growth in 2023.
Financial Highlights
Net Revenue growth YoY
%
Operating profit
SAR million
Net Revenue
SAR million
Gross Merchandize Value
SAR billion
Gross Profit
SAR million
Orders delivered
billion
Adjusted EBITDA
SAR million
Average Order Value (AOV)
SAR
Adjusted EBITDA margin
% of the net revenue
Active Users
million users
Net Profit
SAR million
Average take rate
%