Operational highlights

Demonstrated substantial profitability and sustainability, achieving 10.2% EBITDA of net revenue and maintaining highly satisfactory levels of profitability alongside steady growth in 2023.

Laid the strategic foundation for a planned transformation as the region’s leading digital lifestyle solutions provider going beyond current ambit of food delivery and quick commerce.

Completed the acquisition of Marn Business Information Technology Company which helps enhance our restaurant partners’ technological capacities.

Invested in an 35% stake in Sol, a company that centralises the procurement experience for restaurants by bringing an end-to-end digital experience including delivery. The investment was aimed at enhancing the procurement experience for our restaurant partners, unlocking new opportunities for sustainable growth.

Logi transformed from a loss-making venture to a profitable enterprise on EBITDA level in 2023 with significantly improved margins, from SAR 29.2 million losses in 2022 to gains of some SAR 23.8 million in 2023.

Blu Store expanded its services to over 70 countries in terms of orders delivered.

PIK encountered some challenges in 2023 but overall performance during the year under review was to set the path for enhanced offering.

Co Company entered a new cloud-shelving vertical, providing dark store facilities to our merchant partners and third parties.

Launched the Explore tab on Jahez app,offering a personalized user experience and data and AI-driven recommendations to all customers.