The financial statement demonstrates strong and encouraging performance across PIF’s range of investments. PIF has shown strong returns and progress against its long-term objectives in 2023, delivering long-term, sustainable financial returns and driving forward economic transformation in Saudi Arabia, in line with Vision 2030.

The financial statement is prepared based on International Financial Reporting Standards (IFRS) requirements and is published as per the listing requirements of the London Stock Exchange.

Please find headline numbers and graphics below:

· Revenues grew to $88.3 billion (SAR 331 billion) in 2023 which is an increase of more than 100% from financial year 2022 revenue of $44 billion (SAR 165 billion);

· Profit after tax and zakat amounting to $17 billion (SAR 64 billion) compared to loss of $4.5 billion (SAR 17 billion) in FY 2022,

· Total Assets increased by 28% - from $773 billion (SAR 2.9 trillion) to $987 billion (SAR 3.7 trillion),

· Retained earnings and reserves increased by 21% - from $155 billion (SAR 583 billion) in FY 2022 to $189 billion (SAR 707 billion) in FY 2023 - YoY increase of 21%,

· Cash position - increased by over 30% YoY to $64.8 billion (SAR 243 billion) at year-end 2023, up $15 billion (SAR 56 billion) compared to year-end 2022.

Find the full report here:

http://www.rns-pdf.londonstockexchange.com/rns/6627U_1-2024-7-1.pdf