Al Akaria Reports SAR 475.7M Net Profit in Three Months 2026
ALAKARIA 4020.SA | 0.00 |
On 2026-05-12 08:11:48 (Saudi Time), Saudi Real Estate Co. ("Al Akaria") 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 | 319.8 | 628.1 | -49.084 | 353.3 | -9.482 |
| Gross Profit (Loss) | 159.3 | 309.7 | -48.563 | 103.9 | 53.32 |
| Operational Profit (Loss) | -46.2 | 243.4 | - | 79.8 | - |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 475.7 | 135.2 | 251.849 | 27.4 | 1,636.131 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 478.6 | 198.6 | 140.986 | -5.9 | - |
| All figures are in (Millions) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 5,776.9 | 5,177.7 | 11.572 |
| Profit (Loss) per Share | 1.27 | 0.36 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 49.084% YoY to SAR 319.8 million, primarily driven by an 86% decrease in property sales revenues due to divestment of non-core lands in the prior year quarter, and a 20% decline in infrastructure revenues. Despite the revenue decline, net profit surged 251.849% to SAR 475.7 million, mainly due to recognition of a remeasurement gain on the investment in Riyadh holding company following loss of significant influence when the company's ownership interest was reduced after a capital increase and entry of a new partner.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 9.5% to SAR 319.8 million, primarily driven by a 17% decrease in property sales revenues (SAR 9 million) and a 34% drop in facility management revenues (SAR 10 million). Despite the revenue decline of SAR 33 million, net profit surged 1,636.1% to SAR 475.7 million, mainly due to recognition of a remeasurement gain on the investment in Riyadh holding company following loss of significant influence. This gain resulted from Riyadh holding company's capital increase and entry of a new partner, which reduced Al-Akaria's ownership interest and reclassified the remaining investment as FVOCI equity investment.
Other Items
The auditors issued an unmodified conclusion but included emphasis of matter paragraphs highlighting significant uncertainties. The first emphasis draws attention to certain land parcels with a carrying value of SAR 438 million that are currently unavailable for use or development due to various reasons, with uncertain impact on net realizable value pending resolution by specialized committees. The second emphasis concerns the Al Widyan project land and capital work-in-progress valued at SAR 2.9 billion, which is located in an area under government study that may result in fundamental changes to the original project plan and impact the land's realizable value, with effects remaining uncertain and dependent on future government development plans.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95278&anCat=1&cs=4020&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.