Cenomi Centers Reports SAR 202.5M Net Profit in Three Months 2026
CENOMI CENTERS 4321.SA | 0.00 |
On 2026-05-03 08:02:01 (Saudi Time), Arabian Centres Co. (Cenomi Centers) 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 | 582.5 | 590.6 | -1.371 | 563.8 | 3.316 |
| Gross Profit (Loss) | 488.9 | 511.7 | -4.455 | 481.7 | 1.494 |
| Operational Profit (Loss) | 436.1 | 395.5 | 10.265 | 290.9 | 49.914 |
| Net Profit (Loss) Attributable to Shareholders of the Issuer | 202.5 | 216.9 | -6.639 | 76.4 | 165.052 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 202.4 | 216.8 | -6.642 | 73.8 | 174.254 |
| 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) | 15,715.6 | 14,824.3 | 6.012 |
| Profit (Loss) per Share | 0.43 | 0.46 | |
| 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 | 71.5 | 1.5 | |
| All figures are in (Millions) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Sales declined 1.371% YoY to SAR 582.5 million primarily due to portfolio changes, though like-for-like revenue actually increased 4.9% supported by stronger leasing performance and 2.5% higher visitor traffic. Net profit decreased 6.639% YoY to SAR 202.5 million, mainly driven by higher net finance costs increasing to SAR 215.5 million from SAR 162.6 million and increased cost of revenue due to higher utility expenses, franchise fees, and staff costs. This was partially offset by strong operating profit growth of 10.265%, supported by higher net fair value gains on investment properties of SAR 71.5 million, significant reduction in impairment losses to SAR 33.7 million from SAR 79.6 million, and 28.0% increase in media sales.
Quarter-on-Quarter Performance Drivers
QoQ revenue increased 3.3% to 582.5 million driven by continued strength in media sales performance and leasing activity across the portfolio. Net profit surged 165.052% to 202.5 million, primarily driven by higher operating profit (up 49.914% to 436.1 million), increased net fair value gains on investment properties, and lower impairment losses compared to the previous quarter.
Other Items
Auditors issued an unmodified conclusion with an emphasis of matter regarding legal claims filed by a counterparty, noting that "the ultimate outcome of these matters cannot presently be reliably estimated" as disclosed in note 22 to the interim condensed consolidated financial statements. No material uncertainties regarding going concern or debt covenant breaches were reported. Profit from investment property fair value changes totaled SAR 71.5 million, representing 1.5% of capital. Total shareholders equity increased 6.012% to SAR 15,715.6 million, with earnings per share of SAR 0.43 compared to SAR 0.46 in the prior year period.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94873&anCat=1&cs=4321&locale=arAttached PDF document link:
https://www.saudiexchange.sa/Resources/fsPdf/30893_1381_2026-05-03_07-01-17_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.