Bawan Reports SAR 51.92M Net Profit in Three Months 2026
BAWAN 1302.SA | 0.00 |
On 2026-05-07 08:01:03 (Saudi Time), Bawan 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 | 1,031,323 | 910,178 | 13.31 | 1,104,351 | -6.612 |
| Gross Profit (Loss) | 156,341 | 103,951 | 50.398 | 156,554 | -0.136 |
| Operational Profit (Loss) | 77,557 | 47,007 | 64.99 | 55,277 | 40.306 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 51,923 | 149,112 | -65.178 | 13,307 | 290.193 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 50,613 | 148,417 | -65.898 | 3,403 | 1,387.305 |
| 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) | 1,124,385 | 1,036,084 | 8.522 |
| Profit (Loss) per Share | 0.87 | 2.49 | |
| 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 increased 13.31% YoY to SAR 1.03 million, primarily driven by full-quarter recognition of oil and gas sector revenues compared to partial recognition from February 13, 2025 in the prior year, along with increased revenues from oil & gas and plastics sectors despite declines in metal, wood and electrical industries. Net profit declined 65.178% YoY to SAR 51.92 million, mainly due to the absence of a one-time SAR 126 million bargain purchase gain recorded in Q1 2025, reduced performance in electrical and wood sectors from lower sales volumes and prices, higher operating expenses from full consolidation of oil & gas operations, increased financing costs from acquisition-related debt, and higher zakat expenses.
Quarter-on-Quarter Performance Drivers
QoQ revenue declined 6.61% to 1.03 million due to decreased sales volumes in metal, wood, and electrical industries sectors, despite increases in oil & gas and plastics sectors. Net profit surged 290.19% to 0.05 million, driven by improved performance across metal, wood, plastics, and oil & gas sectors, reduced financing costs from debt repayment, and lower operating expenses. This was partially offset by decreased electrical sector profitability and 42 million in depreciation/amortization expenses related to Petronash acquisition PPA.
Other Items
The auditor issued an "Other Matter" opinion noting that the interim financial information for the three months ended March 31, 2025 was reviewed by another auditor who expressed an unmodified review conclusion on May 14, 2025. No accumulated losses were reported. The company shows no material uncertainty regarding going concern, with total shareholders' equity of SAR 1,124,385 thousand representing an 8.522% increase year-over-year. Earnings per share decreased to SAR 0.87 from SAR 2.49 in the prior year quarter. The company achieved EBITDA of SAR 147 million compared to SAR 85.6 million in the same quarter last year. Management noted they are "closely monitoring the geopolitical situation in the region and will continue to effectively manage its supply chain, operational and customer-related risks across its industrial segments."
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95045&anCat=1&cs=1302&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/12477_563_2026-05-06_23-02-57_en.pdfImportant 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.