Riyadh, Kingdom of Saudi Arabia – 16 March 2026:

"L’azurde", the leading name in the jewelry sector in the Middle East, announced today its financial results for the fiscal year ended December 31, 2025. The year was marked by exceptional revenue growth, a significant expansion of the retail network, and a comprehensive strategic restructuring of the balance sheet, supported by a rigorous governance and internal control framework to ensure a more profitable and sustainable future.

Unprecedented Commercial Growth and Pricing Power Consolidating Brand Leadership
The year 2025 marked a historic milestone in L’azurde’s commercial journey, as the Company achieved total gold revenues of SAR 2.4 billion, a 43.6% increase over the previous year. More importantly, operating revenues jumped by 17% to reach SAR 540.4 million, the highest in the Company’s history, while total operating gross profit rose by 14% to reach SAR 323.6 million, the highest gross profit level achieved since 2016.

This growth was supported by the pricing power that L’azurde enjoys; despite fluctuations in global gold prices, the Group succeeded in increasing labor service charges in the Kingdom of Saudi Arabia and the Arab Republic of Egypt, relying on the strength of the L’azurde brand and consumer trust. This momentum translated into strong positive operating cash flows of SAR 46 million, enhancing the Company’s ability to self-fund its operations and expansions.

Structural Development and Governance

This exceptional operating performance gave the Group the necessary strength to implement a deliberate phase of "Structural Development" during 2025. While L’azurde moves toward a high-margin retail model, management took a proactive and necessary step to settle legacy credit provisions and certain non-recurring operating items in the wholesale business. In parallel, the Board of Directors and its specialized committees continued during the year to directly oversee this transformation, with an intensive focus on strengthening the risk management framework and raising the efficiency of the internal control system, and ensuring the application of the highest standards of transparency in line with capital market requirements and international best practices, which contributed to supporting the executive management in achieving a delicate balance between accelerated growth and financial sustainability.

The reported net loss of SAR 42.2 million is entirely due to these non-recurring events, represented by expected credit loss provisions and a deficit incident involving some of the Company's wholesale representatives that was handled decisively by strengthening the control system. Excluding these exceptional structural adjustments, the Group would have achieved an adjusted net profit of SAR 2 million. By completing these balance sheet "purification" operations, L’azurde enters 2026 with a more efficient and transparent financial position.

The Retail Engine and Digital Platforms: 53% of Operating Revenues
The ongoing shift toward excellence in direct-to-consumer sales is the core of L’azurde’s evolution; retail revenues grew by 18%, now making up the majority of the Group’s operating revenues at 53%. This physical expansion was strengthened by the opening of 4 new flagship stores in strategic locations in the Saudi and Egyptian markets, which enhanced L’azurde’s leadership in the field of design. In parallel, L’azurde achieved a decisive digital milestone, as the e-commerce sector turned to profitability for the first time after digital sales grew by 17%, proving the success of the "omnichannel" strategy and its ability to attract high-margin revenues.

Future Outlook: 2026 and Sustainable, Scalable Growth
As L’azurde continues to implement its strategic roadmap, the Company is expanding toward high-margin and capital-efficient service sectors, led by gold refining operations, which will represent a key pillar in 2026 as a clear business model that requires minimum capital expenditure while ensuring stable cash flows.

The Company is also doubling its efforts in product leadership by utilizing the new Design Center of Excellence and expanding its portfolio through silver lines ("Waves") and Lab-Grown Diamonds (LGD). To ensure maximum efficiency, the Company intends to complete the establishment of a Shared Services Center in Egypt to consolidate back-office operations, which will provide significant savings in general and administrative expenses. 

To support this growth, the Group has already succeeded in mitigating financial risks by reducing gold loan quantity by 11% to reach 3.7 tons, the lowest level of gold working capital achieved by the Company in the last 15 years, allowing for lower leverage and reduced financing costs, and creating a solid structural foundation in line with the steadfast commitment to maximizing shareholder value through strict financial discipline and calculated risk management.

A Promising Future and Sustainable Commitment
L’azurde concludes 2025 stronger and more prepared for the future. We are fully confident that the combination of our brand strength, the efficiency of our core operations, and the commitment to the highest standards of governance draws the features of a bright and sustainable future for the Company and its shareholders alike. The Company continues its commitment to achieving a sustainable balance between operational growth and strict financial discipline to ensure its leadership as a modern regional force in the retail and jewelry sector.