On 2026-08-05 08:03:55 (Saudi Time), Alghaz Waltsnae Company Eligibility Alqabida announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending 30 June 2026, sales/revenue rose 17.087% YoY to SAR 1,847.3 million (from SAR 1,577.71 million), primarily driven by an increase in gas sales of SAR 220 million due to higher gas prices and volumes, supplemented by growth in commercial project revenues of SAR 23 million, transportation services revenues of SAR 15 million, empty cylinder sales of SAR 5 million, and other services revenues of SAR 6.6 million. Net profit attributable to shareholders increased 22.043% YoY to SAR 141.4 million (from SAR 115.86 million), mainly supported by a SAR 40.9 million rise in gross profit and a SAR 4 million increase in share of results of associates, partially offset by higher operating expenses of SAR 10.4 million, a decrease in investment and finance income of SAR 6.9 million, and an increase in zakat expense of SAR 4.7 million.

Quarter-on-Quarter Performance Drivers

QoQ revenue declined 8.052% to SAR 884.9 million (vs. SAR 962.4 million prior quarter), driven primarily by a decrease in gas sales of SAR 70.1 million and a drop in sales of empty cylinders and accessories of SAR 23.4 million, partially offset by an increase in transportation services and project revenues of SAR 16 million. Net profit fell 27.98% QoQ to SAR 59.2 million (vs. SAR 82.2 million), mainly due to a SAR 14.5 million decline in gross profit resulting from lower revenues, compounded by a SAR 2.4 million rise in operating expenses and a SAR 4.3 million increase in zakat expense.

Other Items

The external auditor issued an unmodified conclusion with no additional comments, reservations, or other matters noted. No material risks, going concern uncertainties, or debt covenant breaches were flagged. Total shareholders' equity (after deducting minority equity) stood at SAR 2,152 million as of the current period, compared to SAR 1,928.17 million in the same period of the prior year, representing an increase of 11.608%. Total comprehensive income attributable to shareholders for the six-month period reached SAR 296.2 million, up 173.802% from SAR 108.18 million in the prior year period, while for the current quarter it was SAR 55.8 million, down 21.815% from SAR 71.37 million in the same quarter of the prior year. Earnings per share for the current period were SAR 1.88, compared to SAR 1.54 in the same period of the prior year. No reclassification of comparison items was reported, and no additional information was disclosed.

Original announcement:

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