Advanced Building Industries Reports SAR 31.01M Net Profit in Three Months 2026
SENAAT 2240.SA | 0.00 |
On 2026-05-07 15:46:57 (Saudi Time), Advanced Building Industries Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 1,347,610 | 1,520,038 | -11.343 | 1,644,256 | -18.041 |
| Gross Profit (Loss) | 265,135 | 259,384 | 2.217 | 283,616 | -6.516 |
| Operational Profit (Loss) | 83,023 | 73,163 | 13.476 | 46,967 | 76.768 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 31,006 | 23,717 | 30.733 | 23,805 | 30.249 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 16,834 | 24,155 | -30.308 | 18,947 | -11.152 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 564,603 | 474,584 | 18.967 |
| Profit (Loss) per Share | 0.52 | 0.4 | |
| 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 | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 11.34% YoY to 1.35 million SAR primarily due to a 63.4% reduction in Construction Sector revenues and 6.3% decrease in AC Sector revenues. Net profit increased 30.73% YoY to 0.03 million SAR despite lower sales, driven by higher gross profit margins from Steel and Insulation sectors, improved operating income, increased share in results from associates and joint ventures by 3.1 million SAR, and reduced financial charges by 4.5 million SAR.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 18.041% to 1,347.61 million due to significant drops across all sectors: 46% in Construction, 31% in AC, 5% in Steel, and 3% in Insulation. Despite lower sales, net profit increased 30.249% to 31.01 million driven by improved gross profit margins (up 2.43%), reduced general & administrative and sales & distribution expenses, and lower financial charges by 9.9 million SAR.
Other Items
The external auditor issued an unmodified conclusion with an "Emphasis of Matter" regarding comparative information restatement as noted in Note (21) to the condensed consolidated interim financial statements. An "Other Matter" was included stating that the comparative condensed consolidated interim financial statements for the three-month period ended 31 March 2025 were reviewed by another auditor who expressed an unmodified conclusion. The company reported no accumulated losses, with accumulated losses showing as "-" with 0% of capital. Comparative figures were reclassified due to a Share Purchase Agreement with the foreign shareholder of Arabian Fiberglass Insulation Company Limited to acquire the remaining 49% shareholding, resulting in a reallocation within equity that increased profit attributable to shareholders by SAR 1.9 million with no impact on total profit.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95079&anCat=1&cs=2240&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.