Before Q2 Earning Results Drop: 30+ Saudi Stocks Have Key Contracts Locked In — Here's Their Impact

SGS
RED SEA
AWPT
SVCP
ALWASAIL INDUSTRIAL

SGS

4031.SA

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RED SEA

4230.SA

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AWPT

2081.SA

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SVCP

2360.SA

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ALWASAIL INDUSTRIAL

4148.SA

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Q2 2026 (April–June) has wrapped, and Tadawul-listed companies are heading into their reporting window. Ahead of that, dozens of new contracts and branch openings have already been disclosed to the market, each one tagged by management with the quarter it's expected to start showing up in results. Here's what's been signed, who's behind it, and when it should land.

Infrastructure & Industrial Contracts

Saudi Ground Services Co.(4031.SA)

  • An estimated SAR 6.3 billion, five-year deal with Saudia — the single largest contract in this roundup
  • SAR 314.9 million over five years with Riyadh Airports Co., with an option to add three more years

Impact: Q2 2026

Red Sea International Co.(4230.SA)

  • SAR 352.6 million, 454-day contract with Salini Saudi Arabia

Impact: Q2 2026

Alkhorayef Water and Power Technologies Co(2081.SA) — six municipal and water-authority contracts worth SAR 544 million combined

  • SAR 155.1 million and SAR 108.5 million, both 60 months, with Jeddah Municipality
  • SAR 93.6 million, also 60 months — a third Jeddah Municipality deal
  • SAR 69.6 million, 30 months, with the Royal Commission for Riyadh City
  • SAR 65 million, 60 months, with National Water Co. for the Mina and Muzdalifah areas
  • SAR 52.2 million, 36 months, a separate National Water Co. contract

Impact: Q2 2026

Saudi Vitrified Clay Pipes Co.(2360.SA)

  • SAR 8.2 million, one-year purchase order from Alkhorayef Water to supply concrete manholes for an Eastern Province sewage project

Impact: Q2 2026

Alwasail Industrial Co.(4148.SA)

  • SAR 15.6 million, 18-month contract with Water and Power Projects Co. (WPPCo) to extend water supply around Riyadh

Impact: Q2 2026

Saudi Steel Pipe Co.(1320.SA)

  • SAR 910 million, 15-month contract to supply Saudi Arabian Oil Co.(2222.SA) with LSAW pipes (large welded steel pipes used in oil, gas and water lines)

Impact: H2 2025–H1 2026

East Pipes Integrated Company for Industry(1321.SA)

  • SAR 485 million+ contract with the Saudi Water Authority
  • SAR 60 million+ contract with AliShar Contracting

Impact: fiscal Q4 2025/26 through Q2 2026/27 (on East Pipes' own reporting calendar)

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Technology & Digital Services

MIS (Al Moammar Information Systems Co.(7200.SA))

  • 10-year data-center agreement with Microsoft Arabia and Saudi Data Center Fund 1, worth more than half of MIS's 2023 revenue
  • 12-month HUMAIN contract worth more than 155% of MIS's 2024 revenue
  • SAR 190.5 million, three-year contract with the National Center for Meteorology
  • SAR 114.6 million, one-year purchase order from the Ministry of Education
  • SAR 64.8 million, three-year contract with National Water Co.

Impact: mostly Q2 2026 — the Education deal runs through Q2 2027, Meteorology through Q2 2029

Arabian Internet and Communications Services Co.(7202.SA)

  • SAR 519.7 million, five-year managed-IT contract with National Water Co.

Impact: Q2 2026

2P (Perfect Presentation for Commercial Services Co.(7204.SA))

  • SAR 37.3 million contract with Prince Sattam bin Abdulaziz University

Impact: 2026–2029

Property Development

Alramz Real Estate Co.(4327.SA)

  • Real estate fund with Assayel Arabia targeting SAR 370 million (10% development fee — a cut of the build cost for managing the project — plus 2.5% marketing commission on sales)
  • Fund managed by Oud Capital targeting over SAR 1 billion, with a SAR 391 million development contract attached (same 10%+2.5% structure)
  • Fund managed by SNB Capital targeting SAR 650 million (7% development fee, 2.5% marketing commission)
  • Buyout of remaining investors in the Qurtubah 2 fund, Riyadh, for SAR 133 million — ownership rising from 23% to 100%

Impact: 2026–2029 (2026–2031 for the Qurtubah 2 buyout)

Retal Urban Development co.(4322.SA)

  • SAR 1.9 billion development management agreement with Sakan Al Malqa Real Estate — SAR 125.5 million in estimated developer fees, a 24.52% fund stake, 48-month term

Impact: 2026–2029

Media & Advertising

Saudi Research and Media Group(4210.SA)

  • Three-year advertising, PR and marketing contract worth SAR 200 million a year (~SAR 600 million in total)

Impact: Q2 2026

Arabian Contracting Services Co.(4071.SA)

  • 10-year outdoor-advertising concession with the Royal Commission for AlUla
  • 10-year airport-advertising deal at Madinah with Tibah Airports, guaranteeing at least SAR 169.1 million
  • Three-year contract with Wave Media Co. averaging SAR 336.6 million a year — its biggest of the three

Impact: Q2 2026

Aviation, Catering & Consumer

SAL Saudi Logistics Services Co.(4263.SA)

  • Two annually renewable cargo ground-handling agreements — with Singapore Airlines and Fly Khiva Group — billed on demand rather than a fixed sum

Impact: Q2 2026

CATRION Catering Holding Co.(6004.SA)

  • SAR 23.1 million Hajj-season catering agreement with Saudia
  • SAR 262 million, five-year contract with King Faisal Specialist Hospital & Research Centre, Riyadh

Impact: Q2 2026

Modern Mills for Food Products Co.(2284.SA)

  • SAR 16.9 million soybean-meal purchase from Al Ghurair Advanced Trading — a cost, not new revenue

Impact: 2026

Wafrah for Industry and Development Co.(2100.SA)

  • SAR 28 million, two-year renewable contract to manufacture partially fried potatoes for Del Monte Factory Co.

Impact: H1 2026

Healthcare Equipment

Scientific and Medical Equipment House Co.(4014.SA)

  • SAR 105.1 million, five-year maintenance contract with the Riyadh First Health Cluster — delayed a year from its original Q2 2025 start
  • Two SAR 50.9 million, five-year contracts to maintain equipment at King Abdulaziz Specialist Hospital, one via the Taif Health Cluster and one via the AlTaif Health Cluster
  • SAR 100 million, 24-month infrastructure upgrade at King Fahad Hospital, Al Baha, for the Ministry of Health
  • SAR 24.9 million, three-year clinical-services contract at King Khalid University's dental college, Abha

Impact: Q2 2026

Branch Expansion

All are flagged as likely to support Q2 2026 results.

The Takeaway

Between airport contracts, water-utility deals, real estate funds, ad campaigns and a wave of new storefronts, this quarter's disclosures touch nearly every corner of the market. Most of the contract-driven impact is timed for Q2 2026, so it should start surfacing as results come in over the next few weeks — while the property and long-term infrastructure deals will keep contributing for years after that.