| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 26,035 | 30,191 | -13.765 | 22,274 | 16.885 |
| Gross Profit (Loss) | -9,649 | -14,627 | -34.032 | -8,248 | 16.985 |
| Operational Profit (Loss) | -33,843 | -41,549 | -18.546 | -29,059 | 16.463 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 2,471 | 18,228 | -86.443 | 23,614 | -89.535 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 13,320 | 18,565 | -28.252 | 41,804 | -68.137 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Sales/Revenue | 48,309 | 74,297 | -34.978 |
| Gross Profit (Loss) | -17,897 | -18,876 | -5.186 |
| Operational Profit (Loss) | -62,902 | -55,389 | 13.564 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 26,085 | 64,886 | -59.798 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 55,124 | 59,273 | -6.999 |
| Total Shareholders Equity (after Deducting Minority Equity) | -159,227 | -360,168 | -55.79 |
| Profit (Loss) per Share | 3.91 | 9.72 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -248,747 | -373 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is | Revenue declined by 14% compared to the same quarter of previous year due to a mix of financial and liquidity issues. An estimated 60–70% of the decrease is driven by persistent liquidity constraints and reduced customer advance payments that severely restricted working capital. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The net profit for the period declined primarily as a result of lower revenue, coupled with an increase in overall costs. The rise in costs was largely attributable to higher raw material prices. Additionally, operating expenses increased during the quarter, further contributing to the reduction in profitability. Also ongoing regional geopolitical conditions added logistics and transportation friction that further burdened unabsorbed factory overheads. |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The Sale of Goods declined by 12% from Q1 2026, while Contract Revenue increased significantly by 55%, mainly driven by higher progress on customer contracts during Q2 2026. Consequently, total revenue increased by 17% compared to the previous quarter, indicating improved performance from contract execution. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The net profit for the period declined primarily with an increase in overall costs. The rise in costs was largely attributable to higher raw material prices. Additionally, operating expenses increased during the quarter, further the Share of Assocoate Profit has been decreased by 19% contributing to the reduction in profitability. Also ongoing regional geopolitical conditions added logistics and transportation friction that further burdened unabsorbed factory overheads. |
| The reason of the increase (decrease) in the sales/ revenues during the current period compared to the same period of the last year is | Revenue for Q2 2026 declined by 35% compared to Q2 2025 due to a mix of financial and liquidity issues. An estimated 60–70% of the decrease is driven by persistent liquidity constraints and reduced customer advance payments that severely restricted working capital. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The net profit for the period declined primarily as a result of lower revenue, coupled with an increase in overall costs. Additionally, general and administrative expenses increased during the quarter, further the Share of Assocoate Profit has been decreased by 19% contributing to the reduction in profitability. Also ongoing regional geopolitical conditions added logistics and transportation friction that further burdened unabsorbed factory overheads. |
The company's share of the profits of an associate company, Midal, amounted to 99 million, which has an decrease of 19% of previous period profits.
The company has recorded net profit from operations amounting to SAR 26,085 million, mainly resulting from its share of profit from an associate.
In this regard, management has prepared forecasts for 2026 that indicate net profit and positive cash flows. The plan includes certain assumptions related to cash injections through the issuance of rights issue
instruments, as well as revenue growth based on future orders and tenders, these elements represent future events and therefore involve material uncertainty regarding their outcome. Our opinion has not been modified in respect of this matter.
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.